Delta Discloses OTC Trading Dispute: Partner Has Sold 16.5 Million DELTA; Team Admits No Lock-Up Restrictions Were Set

TechFlow reported on Nov. 9 that the Delta team issued a statement saying that on Aug. 24 this year, the project allocated 26 million DELTA to a partner through over-the-counter (OTC) transactions during its initial launch, accounting for 2.6% of total supply, in exchange for operational funding and marketing support.

Of this, 16.5 million DELTA (1.65% of total supply) have already been sold, and the remaining 9.5 million are still held in two addresses. Delta said the team did not directly sell the tokens but acknowledged that it had previously imposed no lock-up, vesting, or selling restrictions on the partner, and had not communicated in advance regarding the related sell-off.

According to on-chain records disclosed by the team, on Nov. 7, three token-receiving addresses transferred a total of 101,500 USDG to funding wallets associated with Frogmanhaha. Delta said it has attempted to resolve the issue through negotiation with the partner but failed to reach an agreement, and will learn from the experience and continue advancing project development in the future.

Source: TechFlow