The buying and selling platform Ox.enjoyable, related to Three Arrows founder Su Zhu, allegedly elevated the availability of OX tokens from roughly 4 billion to just about 9.8 billion with out making an official announcement.
Following the collapse of Three Arrows Capital (3AC), Su Zhu confronted imprisonment, additional fueling considerations about Ox.enjoyable’s credibility. Nonetheless, subsequent particulars provide further context.
Ox.enjoyable Will increase Whole Provide of OX Tokens
In line with posts on X, customers accused Ox.enjoyable of discreetly growing the whole provide of OX tokens from round 4 billion to greater than 9.8 billion with out prior disclosure. Knowledge from Ox.enjoyable’s official dashboard and Etherscan, a good blockchain evaluation instrument, verified this transformation.
Provide of OX token. Supply: Ox.enjoyable
Furthermore, based on a December 2024 submit from Ox.enjoyable on Twitter, the unique OX provide was verified as 4.2 billion.
The provision enhance has not but considerably impacted the worth of OX tokens on the time of this writing. Nonetheless, it has prompted the token’s market capitalization to surge from underneath $5 million to roughly $17 million. In different phrases, customers on-line mentioned the mission quietly inflated its worth with none formal announcement.
Market cap of the OX token. Supply: CoinGecko
Many neighborhood members argue that growing the token provide with out disclosure signifies opaque habits. They assume it could be a sign for a rug pull.
Customers additionally expressed their frustration over the dearth of response initially from the mission’s leaders.
“I like how @OXFUNHQ @zhusu proceed to be useless silent about doubling the circulating provide of $OX in a single day. I sincerely assume they have been simply hoping that merely nobody would discover. True regards,” commented an X consumer.
Ox.enjoyable Claims It Introduced OX Provide Surge
Ox.enjoyable lastly responded to the accusations, stating that the rise had been beforehand disclosed. The mission defined that the rise in provide to 9.8 billion tokens was introduced on April 1, 2025, as a part of the “Ox Seasons” program. In line with Ox.enjoyable, Ox Seasons was introduced by means of all social media platforms.
“Importantly, the tokens are locked within the OX treasury multisig (0x4B214e2a2a9716bfF0C20EbDA912B13c7a184E23) and can solely be distributed to customers on the finish of the Seasons program, precisely as outlined in our docs.” acknowledged Ox.enjoyable
Allocation of 6 Billion Further OX Tokens. Supply: Ox.enjoyable
The workforce emphasised that this transfer, by disabling the good contract’s mint perform, was meant to make sure transparency and stop future token minting.
Nonetheless, the neighborhood stays skeptical because of the delayed communication, questioning whether or not Ox.enjoyable has been as clear because it claims.
The neighborhood’s skepticism persists, given Su Zhu’s fame within the crypto area has been tarnished for the reason that collapse of Three Arrows Capital (3AC). Moreover, in February 2025, Ox.enjoyable had some points with JefeDAO. Though the platform later supplied explanations, these incidents have raised ongoing considerations about its monetary stability.
OX token worth. Supply: BeInCrypto
Whereas the worth of OX tokens has not skilled important fluctuations following this occasion, smaller buying and selling platforms like Ox.enjoyable are sometimes weak to market sentiment.
