UBC due diligence: AI-generated whitepaper and thin repo behind an $80M FDV
Thread680 words
Public due-diligence thread on UBC, which hit $80M FDV in a day. Flags an incoherent AI-generated whitepaper, a repo with 5 commits, commits from one account plus an automated visualizer, and a pumpfun launch during a seed raise.
Key claims
UBC went from 0 to $80M FDV with over $100M daily volume
Repo had 5 commits at first check
Repos showed no commits before end of August
So $UBC went from 0 to $80M FDV in a day and has >$100M in daily volume.
In the meantime, the AI-generated whitepaper doesn't make any sense and the Github repo has 5 commits.
Can someone explain to me what is happening?
Pls check attached images for some insight into "whitepaper" and the repo that is supposedly worth $80M.
Also, why would a "serious french AI company" launch a shitcoin on pumpfun while raising seed?
Chat, what I am missing?
Can someone pls explain why this is worth $80M?
Maybe you can explain how all of this tracks @LesterPaints?
I am NOT a representative of ai16z and not trying to maliciously fud anyone's work here.
Trying to get legit questions answered in public because the project has caught my attention.
If there is good answers, this will all be beneficial to UBC.
If not, well then ig it was even more important to ask.
Will also add to this thread when I had time to check all the resources and stuff ppl link here, thanks for everyone's contributions to the discourse.
Still some questions I will look to investigate.
Reminder: If you hate me because you feel like I'm trying to fud your bags:
I am not trying to do that and I hope that the platform for answering my questions that this post provides will ultimately be net beneficial for UBC and its community as well (assuming it all checks out).
My post is also not related to ai16z in any way.
Once all questions are answered, this can have a positive impact on the project and its credibility, which is what I hope happens here.
Crypto is about building opens-source tech in public and the discourse around it should also happen on platforms that are accessible to anyone.
I do NOT aim to discredit anyone's work and hope that we can collectively accelerate the crypto x AI space collectively.
Stay tuned.
Also still think that this is a legit question:
x.com/zerokn0wledge_/status/1861832677759799320
Update: Most of the questions around how the tech actually works have remained unanswered so far.
Building decentralized GPU networks / liquid compute markets is highly complex and I still don't see how the AI-generated whitepaper provides any basis for that.
In the meantime, people have been pointed towards other github repos, citing "years of development".
However, none of the repos I saw so far have commits from before end of august with most stuff being literally from this month only.
All of the commits on the repos with "good numbers" are from one account + an automated "repo visualizer" (to push up metrics?), and especially on the repo with >200k commits a lot of the commits are basically completely meaningless with stats having been pushed massively even in the past hours by spamming commits from one acc literally by the minute.
Also just too many things here that imo don't fit together at all. Having agents write a novel in french, an AI band, but also a whitepaper for "universal compute access", with the latter not making any sense.
An "Nvidia backed" AI company from France currently supposedly raising 500k seed that is launching a pumpdotfun token "for governance" that will somehow pay for compute? How? What are the economics?
Still don't understand how all of this is supposed to make for a "fundamental" bull case here.
Again: Not trying to FUD anyone's bags "on baseless accusations" or discredit anyone's (honest) work.
But unfortunately, web3 is a predatory space and the permissionless ability for anyone to launch coins is also dangerous.
Too many red flags here for me personally, so will definitely steer clear. If you don't, please be cautious.
Especially in the context of the AI narrative we have recently seen a lot of unfortunate events, with way too many people getting burned by bad actors.
If you want to gamble, gamble but don't tell me you haven't been warned if this goes south.
IMPORTANT: I am still NOT an official ai16z DAO representative and am not speaking for anyone else but myself.
Cheers fam.
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