Milady Chaos Recap: Musk Meme Surges, Early LADYS Investors Blacklisted Again

The NFT project "Milady Maker" saw a significant increase in trading volume and floor price due to a meme posted by Musk. The related token "LADYS" also benefited from the surge. However, early investor PEPE, who was previously blacklisted by the team, purchased "LADYS" this time, resulting in being blacklisted again.

Elon Musk Shares Milady Meme, NFT Floor Price Hits New High

Elon Musk tweeted a picture of the NFT project "Milady Maker" close to midnight on May 10.

NFTGO data shows that this caused a 1,805% surge in Milady trading volume, with over 8,000 ETH in trading volume in 24 hours, and a 1,185% increase in transaction volume.

24-hour price increase of 48.22%.

pic.twitter.com/4s6HwnCY74

— Elon Musk (@elonmusk) May 10, 2023

Milady is an NFT project launched by Remilia Collective back in 2021, designed by artist Charlotte Fang.

The price of Milady has been stagnant, briefly surpassing 1 ETH in May 2022 but showing no progress, until it rose above 1 ETH again in January this year. Before Musk's tweet, the price had reached nearly 4 ETH.

With Musk's support, the floor price of Milady reached about 5.33 ETH at the time of writing, even higher than many blue-chip NFT projects.

Meme Token Milady LADYS Surges Over 20x

The meme token LADYS also benefited from Musk's tweet, with a 2,269% increase since the tweet, exceeding 5,000% at four in the morning.

However, the surge in LADYS has sparked controversy, including the early entry of controversial venture capital firm DWF Labs, LADYS profit addresses being locked by the contract deployer, seeming full of insider information.

Details of the controversy surrounding DWF Labs: Investing tens of millions of dollars over half a year, enigmatic institution DWF Labs' response still questioned

Mysterious Institution DWF Labs Enters LADYS on 5/9

On-chain analyst @EmberCN pointed out that DWF Labs spent 13.5 ETH, about $25,000, to buy LADYS on May 9, initially facing a $5,000 loss.

According to DWF Labs address, the institution continued to increase its LADYS holdings by investing another 40 ETH today and also acquired Milady #8277. As of the time of writing, the value of LADYS held by DWF Labs has reached $1.93 million.

Following PEPE, Early Entrants of LADYS Blacklisted Again

Previously reported, an address bought 2.5 trillion PEPE coins shortly after listing on Uniswap for 0.013 ETH, now worth $4 million, but was blacklisted by the contract deployer just 8 minutes later.

Community speculations on the matter: $8 million PEPE address blacklisted by developers, tokens to be permanently locked

Coincidentally, this address 0x…54534 had also bought 1,053,249 LADYS for 0.1 ETH three days ago.

It was once again blacklisted by LADYS' contract deployer holding $4.29 million worth of PEPE and $9.59 million worth of LADYS.

Blacklisted Address Appeals to LADYS: Keep 23%, Donate the Rest

Address 0x…54534 left a message on-chain to the LADYS team, stating that their tokens were publicly purchased after listing and urged not to blacklist like the PEPE team, which they deemed very centralized.

If the blacklist is lifted, 0x…54534 stated they would take the following actions with the recovered tokens:

• 38% of LADYS to be burned for marketing, reducing the supply.

• 39% to be donated to charity organizations chosen by the Milady community.

• 23% to remain in the original address, as recognition of the Milady community for 0x…54534's "Ape in" technique, also serving as consolation for being blacklisted by PEPE without cause.

The LADYS team also responded:

We have reached a conclusion regarding the blacklist issue, and we are discussing with PEPE about your wallet. Can we continue the discussion on Blockscan chat? Nothing further had been discussed as of the time of writing.