FatManTerra, an anonymous Twitter account that is one of the most prominent critics of the failed Terra blockchain, has faced racism allegations, among others, from the crypto community.
Open Exchange (OPNX) launched a FatManTerra Justice token to compensate those harmed by his alleged defamation.
Rollbit Co-founder Accuses FatManTerra of Racism
Lucky, the co-founder of crypto casino Rollbit, accused FatManTerra of having a hidden agenda and spreading FUD against the platform in an extensive July 29 Twitter thread.
According to Lucky, FatmanTerra uses other pseudonyms, fabricates evidence, and colludes with competitors to attack Rollbit. Lucky further accused FatMan Terra of using abusive racist language, and homophobia, among others.
Lucky added that FatMan Terra had tried to deceive the crypto community with a fake investment scheme last year’s September. The crypto casino co-founder said FatMan backtracked on the plan because of the blowback he suffered from the community.
At the time, FatMan Terra claimed to have refunded over $100,000 to community members who bought into his “made-up” investment scheme.
FatMan Terra Reacts
In his response, FatMan Terra said Lucky’s thread was full of lies and an attempt to “cancel him.” FatMan said the thread was designed to stop him from exposing an unnamed bad actor. However, FatMan admitted to using racist slurs “a lot.” He added:
“I strongly believe that this out of place & defamatory attack on such a petty level can only mean one thing – I’m talking about points that Rollbit knows no one should be talking about. I must be cancelled.”
The crypto community recognizes FatMan Terra for publishing multiple scoops and investigations into the Terra blockchain. The crypto influencer has recently taken an interest in Rollbit, with several recent tweets directed at the platform.
OPNX’s Justice Token
Following the disclosures, OPNX immediately seized on the news to launch FatMan Terra Justice Token (JT).
The exchange explained the token would be distributed to members of communities that his malicious disinformation has harmed, including Terra and Rollbit. Its purpose will be to compensate victims of defamation, and there will be a token variant for each defamation case.
“Token Distribution
- Each Justice Token is an ERC-20 token with a total supply of 1 billion
- 75% of the supply will be distributed over 6 months to $OX stakers in The Herd, proportionate to their veOX token holdings. More here: ox.opnx.com
- 20% of the supply will be streamed to JT-OX liquidity providers
- 5% of the total supply will be minted directly to Milady holders proportionate to their holdings. This will be handled using a MerkleClaim airdrop contract after snapshots are taken.
OPNX capped the maximum supply at 1 billion tokens. The exchange stated that the first JTs would be for defamation specific to its platform. The tokenomics shows that 75% will go to those who stake its OX token. 20% of JT will be for liquidity providers, while 5% will go to the Miladies community.
After the initial distribution, other JT issuance will focus on non-OPNX cases.
The Justice Token whitepaper described the assets as “meme tokens with no intrinsic value, no backing and no expectation of return.”
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