[cliftonk]

so far as distribution, 25% to early investors and founding employees seems pretty close to market. a "pump and dump" would insinuate that founders/other management sold significant holdings during the run-up and made fraudulent claims about the business (they might have! but you arent providing evidence of that).

as for early investors, there is absolutely nothing wrong with those folks selling any amount of their stake as it becomes liquid. i generally agree it is scammy to give early investors short lockups on these token launches.... but the reality is that many of these projects do have short lockups and that should be part of your DD as an individual investor if you're investing in crypto.