The ups and downs of arbitrage during the EOS ICO period
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Shan Dian Huang Shiliang shared his experience of arbitrage during the EOS ICO. During the ICO phase of EOS, the primary and secondary markets operated in parallel but had price differences, creating arbitrage opportunities. At that time, in the last few minutes of trading, hackers would initiate high ETH gas transactions, causing congestion on the ETH chain and preventing other investors from injecting ETH into the EOS ICO contract. Ultimately, the EOS ICO issued a total of 900 million tokens, raising 7.2 million ETH, with a total value of 4.2 billion USD. Huang Shiliang pointed out that he gained profits through arbitrage, but in the subsequent years of reflection, he realized that this also brought some negative consequences.
(Source: wublock123)