Web3Port: market maker deal terms and record
Web3Port was at the centre of the Movement Labs collapse: 66M MOVE routed to it through an intermediary were sold the day after the December 2024 listing, about $38M, according to CoinDesk's reporting on leaked contracts.
Press reports, no findingPublic deals on record: 1.
Profile
| Headquarters | China |
| Deal models | token allocation, opaque |
| Notes | Chinese MM at the centre of the Movement Labs collapse. |
| Legal record | Blamed for dumping ~$38M in MOVE the day after listing. Routed 66M MOVE through Rentech, an entity Movement believed was its subsidiary and apparently was not. Binance account bans followed. |
Source: www.coindesk.com, grade 4, checked 2026-09-10.
Public deals
Movement Labs (MOVE), 2024
| Structure | token allocation routed through an intermediary |
| Size | 66,000,000 MOVE |
| Share of supply | ~5% of circulating supply |
| Option | n/a - liquidation right, not a strike |
| Details | Provision allowed the counterparty to liquidate once MOVE valuation hit $5B FDV, splitting profits 50/50 with the Movement Foundation. An earlier draft let the counterparty sue the Foundation if the token failed to list on a named exchange. Tokens were routed through Rentech, which the Foundation believed was a Web3Port subsidiary and apparently was not. |
| Outcome | Catastrophic. 66M MOVE dumped the day after the 2024-12-09 debut (~$38M). Co-founder suspended, Binance account bans, Chapter 11 filed 2026-07-21. |
| Source | Press, leaked contracts, grade 4, checked 2026-09-10 |
How market-maker deals usually look
The industry default is a token loan plus a call option. Across about 40 public DAO deals, loans ran at 1% to 5% of circulating supply for 12 to 24 months, with the strike set 25% to 100% above the TGE price, median 50% (WuBlockchain and the Wallfacer deal tracker, grade 4). A second source puts loans at 0.5% to 2% of supply; we show both, because the market has no agreed norm.
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Allegations are reported as allegations, with the outcome where one exists. A written comparison against public data, not legal or investment advice. We take no money from market makers.