The proprietary AMM on Solana had its public token sale filled in seconds as botters stormed in to take the entire supply.
Solana-based proprietary automated market maker (AMM) HumidiFi is abandoning its initial token sale and launching a new token on Monday, Dec. 8, after a bot farm sniped the entire presale supply in seconds.
The team announced that it will not be launching the initial WET token, meaning the sniped tokens are now worthless.
According to an announcement from HumidiFi, “They set up thousands of wallets, each having 1000 USDC. For each wallet, there was an instruction created that triggered the deposit of funds into the DTF smart contract.”
“Per bundle sent (a lot of bundles were sent), 4 transactions were executed. 4 transactions that triggered 6 instructions each, for a total of 24,000 USDC or ~350,000 WET for each bundle.”
The new token launch will honor all users on HumidiFi’s “wetlist” and JUP staker airdrops, while the sniper behind the operation, allegedly known as “Ramarxyz” will receive “nothing.” However, HumidiFi confirmed earlier today that snipers will receive their initial funds back.
According to onchain analytics firm Bubblemaps, Ramarxyz claimed 70% of the HumidiFi presale across more than 1,000 unique wallets. However, Ramar says that the Bubblemaps report is full of “fake info.”
Uniswap founder Hayden Adams took to X to speak about the events, shifting some of the blame back onto HumidiFi for its design.
“One pattern I see a lot is crypto projects building or launching with broken systems and then complaining / playing victim when it inevitably goes wrong. Airdropping tokens and complaining that it was farmed or that people sold. Launching on a first-come first-serve launchpad and complaining that the token got sniped,” said Adams.
