.ZoddLooksRare explains the marketplace's $30 million cash-out, but it does not seem to help $LOOKS
One of the team members of LooksRare later spoke out on his Twitter account and stated that the team was working more than half a year without any compensation, salary or rewards. The funds that were transacted from the platform will be distributed among the 10 members of the marketplace, while some of those funds have already been used to buy various NFTs.
As for the usage of the coin mixing solution, one of the team members, Zodd, has explained that the whole team is working anonymously. Hence, it does not want to be deanonymized by cashing out such large quantities of digital assets.The community was not pleased by the answer and demanded that the team make a LOOKS token buyback instead of keeping the millions worth of Ethereum.
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