Binance Was The Mystery Holder Of 50% Of SLP

Axie Infinity Builders Program

After many concerns raised by the community, specifically Michael Benko, we finally solved the mystery of who owns the wallet that contains 50% of the total SLP supply.

Tech co-founder and Axie Infinity player Michael Benko first raised concerns about the wallet he came to know that this one single wallet holds 50% of the total circulating supply of $SLP. He pointed this out to the community and got worried that this wallet alone could impact the game’s economy and ecosystem. 

At first, it was confirmed that this wallet does not belong to anyone linked with Axie Infinity or Sky Mavis. The COO and Co-founder of Sky Mavis, Aleksander Larson, confirmed that this whale was an outsider – this wallet does not belong to Axie Infinity nor Sky Mavis.

“The significance of a wallet holding so much SLP, if it’s an individual person, gives that person a huge amount of control over an economy, especially in an economy where it’s so hard to mint a token,” said Benko.

Fast forward to today, the mystery has now been solved as Sky Mavis co-founder Jeffrey Zirlin reveals and puts the matter to bed, saying that the wallet belongs to Binance as a “Binance Ronin gateway contract.”

According to Michael Benko, he reached out to Sky Mavis and spoke for the community, but no one responded until he took the matter to the media. Now that he’s got an official response and the mystery is solved, Benko is now ultimately happy with the final result.

“There were some pretty aggressive key opinion leaders… who went after me on Twitter today, but I’m really proud of my initial story… I also think having Sky Mavis officially comment to explain to the community what this wallet is, is valuable,” stated Benko. 

Binance has a good relationship with Axie Infinity, and Sky Mavis as the exchange has provided various bridges to the Axie Infinity ecosystem. After the Ronin Bridge went down following a $600 million Hack in March, Binance helped the project by providing a bridge for users where they could withdraw their game assets. 

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