In the BSC ecosystem, why would the whales allow KOLs to hold over 30% of the chips? There could be several strategies behind this.

The most common is mutual benefit—project teams recruit KOLs to boost popularity and exposure, while KOLs leverage the whale's funding support to boost their performance on GMGN and accumulate data. Both sides get what they want, achieving a win-win situation.

Another possibility is even more direct: KOLs and whales are essentially on the same team, operated by the same group. In such a setup, the opening of the market becomes a game of left hand versus right hand for the project team—whales profit from the price difference, while KOLs simultaneously grow their accounts, gain followers, and build credibility, making both sides look good. This also explains why you often see highly coordinated operations on GMGN and Twitter.