Axis Robotics Denies Team and Investor Sales of AXIS, Says Recent Selling May Involve OTC Trading Counterparty

TechFlow reported on October 30 that, according to Axis Robotics' official announcement, AXIS experienced large-scale on-chain selling from October 28 to 29. The project team said the sold tokens came from the ecosystem allocation of the initial circulating supply, rather than team or investor holdings. The project team stated that 835 million AXIS (83.5% of total supply) remains locked in a vesting contract jointly managed with Binance, that no tokens have been transferred out, and that no tokens will unlock within the next 12 months. The project team suspects that the over-the-counter (OTC) counterparty responsible for distributing tokens to ecosystem participants violated the lock-up agreement. It has suspended further cooperation with the counterparty and will seek legal remedies. The remaining ecosystem tokens will subsequently be distributed entirely through on-chain vesting mechanisms.

Previous report, ZachXBT: Axis Robotics insiders sold AXIS tokens, with the 24-hour drop reaching 40%.

Source: TechFlow