Manta Network Co-Founder Criticizes Market Makers And OTC Deals

According to Odaily, Manta Network's co-founder, Victor Ji, expressed his disapproval of market makers and OTC deals in a recent post on X. Ji stated that he frequently receives offers from market makers and OTC entities to buy or acquire tokens, which he dismisses. He criticized market makers, both active and passive, as detrimental to projects, accusing them of ignoring fundamental aspects while actively participating in events and meetings. Ji argued that these entities are funded by community resources, and their lack of focus on fundamentals could accelerate the industry's collapse. Ji emphasized that genuine liquidity should stem from community-driven transactions, where market sentiment naturally dictates buying and selling. He suggested that if market makers wish to participate, they should acquire positions by purchasing tokens directly from the market. Additionally, Ji advised project founders concerned about liquidity to consider loans instead of paying retainers, recommending minimal loan sizes. He recounted an experience during the Polkadot era with Calamari, where market makers demanded over 3% of tokens, only to sell them despite assurances of legitimacy. Ji argued that a genuine loan should not exceed 0.2% of tokens, as this amount would suffice for significant market depth without risking token dumping.