Yuzu Coin (EOS) is a blockchain underlying public chain project that claims to focus on high performance. The core issue of its 'cutting韭菜' case lies in the serious mismatch between fundraising and implementation.
The project adopted a year-long crowdfunding model during its ICO in 2017, raising over $4 billion in total, setting a record for blockchain project fundraising at the time, attracting a large number of retail and institutional investors.
The project team promised to create a blockchain 3.0 system to achieve high concurrency and low latency for decentralized application operation, but after going live, it frequently encountered network stuttering, security vulnerabilities, and other issues, with the progress of core technology implementation far below expectations.
At the same time, the project's governance mechanism has been criticized for being highly centralized, with opaque token distribution. After going live, the coin price plummeted from a peak of about $20 to a long-term low of around $1, causing heavy losses for early investors who bought at high prices, which has been identified as a typical case of excessive marketing and weak implementation.
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