Former Polychain general partner Neeraj Pant made a secret deal with Eclipse Labs and violated fund policy

Time:2024-07-10 02:00 Source:Internet Copy share

According to CoinDesk, former Eclipse Labs CEO Neil Somani promised Pant 1.33% of all Eclipse tokens worth $13.3 million.His stake was originally supposed to be 5%.These tokens were supposedly intended to be a reward for funding from Polychain.However, Pant claims that he struck a deal with Eclipse Labs and became an advisor to the project after Polychain had invested in Eclipse Labs.According to internal data, nearly 50% of all future Eclipse tokens have already been pledged to employees, investors and advisors.Despite the alleged policy violation, Polychain’s investment in Eclipse has been a success. A source close to the fund said Polychain’s stake in Eclipse has increased in value 10 times since the initial investment in 2022.Pant also co-founded AI startup Ritual, which has become one of Polychain’s largest portfolio companies.
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