RE:RE:RE:RE:RE:RE:Metalstream, Sonata Capital, Enegra Group and Blockchain LabThanks again
shneps, you're an inspiration.
I am so inspired I wish to post something I have been sitting on for a few days now, I was honestly a little embarrased about how much time I spent going down this particular rabbit hole.
What follows is a timeline of Ethereum blockchain events that link Blockchain Labs Asia, Enegra, Bancor, and MetalStream. Stay with me, this is very complex and I have provided URL's within the text for those that want to see the raw data for themselves. All times in UTC and currency is USD.
Jul-30-2019 06:10:57 PM
Blockchain Labs creates its first tokens Jul-31-2019 02:42:02 AM
Metalstream creates its first tokens Sep-29-2019 01:09:25 PM
Blockchain labs transfers 18,000,000 tokens to its first holder, who I would wager is the CEO and founder Eli Weir, but let's call them
BLABSholder for this exercise.
Oct-12-2018 09:28:26 AM
Enegra creates its first EGX tokens Nov-03-2019 11:00:08 AM
Enegra receives 138 ETH from Bitstamp which has a value of just over $25,000 on that day.
Nov-04-2019 03:23:52 AM Following a small test transaction,
Enegra spends ~$25,000 in ETH purchasing 77,082 Bancor tokens (BNT)
This is where it gets a bit technical, and I am possibly out of my depth, but here's what I see happened:
Nov-14-2019 02:58:41 PM An EGXBNT pair is created that pairs Enegra and Bancor tokens to make a liquidity pool
The liquity pool is described
here. It seems that to create a stake for liquidity, one adds bancor tokens to the pool so they can make their own market.
Nov-20-2019 It works, and
Bancor starts showing the EGX token price on its web site But Eli Weir himself says
in the Polymath Telegram that the
tokens are locked for token holders. They can't trade them! But somehow BLABSholder is exempt from this lockout.
Feb-02-2020 01:26:48 AM The BLABSholder starts trading EGX tokens for Ethereum.
During this period that the tokens and their liquidity pool are on Bancor, the Bancor network is transferring ETH to Blabsholder. These transactions are internal and
don't show up as normal transfers. They sum to 123.6 ETH, or about $25,000 value at the time.
Then BLABSholder transfers this ETH to an address known to Etherscan as 'LocalEthereum', which can be seen on the web at https://localcryptos.com/Ethereum/Malaysia. This web site offers an Escrow service where tokens can be traded for untraceable cash.
So there it is. Enegra shareholders paid for a liquidity pool to make a market, the price got driven to zero, and someone at Blockchain Labs pocketed all of the liquidity. Shareholders get zero and cannot trade their tokens in
July as promised, it has been and gone. No amount of DSX is going to fix that.
You have to ask yourself what these shareholders are thinking. Did the CEO even know this was happening or was he asleep at the wheel?
What does this have to do with Metalstream? Take a look at the etherscan for MSGLD and see if BLABSholder is active there too..