Solana Co-Founder Pitches New Way Of Meme Coin Distribution
16 Maio 2023 - 7:30AM
NEWSBTC
The co-founder of Solana, Anatoly Yakovenko, has suggested a new
way in which meme coins should be distributed at their launch via
Twitter. With this, Yakovenko addresses the problem that a large
portion of all meme coins are scams and rug pulls that have a
pre-mine in favor of the “inventors.” Meme-Coins Should Be Treated
Like A Lottery: Solana Co-Founder The Solana co-founder compares
meme coins to a lottery ticket, implying that they bring no value,
but are only for making a quick buck. “In the best light possible,
maybe meme coins are like zero loss lotteries,” Yakovenko said. To
make distribution fairer for all participants so that not only
insiders and whales benefit, the Solana developer suggests that
marketplaces listing meme coins should coordinate completely fair
launches with no fees. This could prevent scam versions from
popping up and constantly draining user liquidity. Related Reading:
SOL Price Prediction: Solana Drops But It’s Too Early to Say Bulls
Have Given Up In response to a Twitter user’s comment that 99.999%
of meme coins are scams that are difficult to distinguish,
Yakovenko suggested the creation of a “fair list.” The latter could
use certain heuristics to identify active users and distribute the
coin without premise. The Solana co-founder explained: Come up with
a “fair” list that uses some heuristics to identify active users
and distribute the coin without any premise. One group of
researchers could do the analysis and publish the list, and anyone
can use it to launch. Nevertheless, there were some criticisms of
the Solana founder’s proposal. For example, users pointed out that
there is a risk that the list would be fairly easy to manipulate,
as the integrity of the list would be compromised after initial
deployment through airdrop farming and the like. Related Reading:
Solana (SOL) Retests Multi-Month Trend Line, Bulls Prevailing
Again? However, the Solana co-founder argued that it doesn’t see a
problem with this until there is a chain identity. In addition,
users expressed concern about the vesting of contributors. However,
the Solana founder argued that despite the possible lack of direct
incentives for coin creators, the marketplaces themselves would
benefit from the integration of these fair launch coins. Still, the
Solana founder’s final word was a warning: Fair launch auction to
start and everyone should expect it to go to zero eventually.
That’s the point, treat it as a zero loss lottery. SOL Price
Trapped Below Trendline At press time, the SOL price traded at
$20.91 and was trapped below the trendline (black) that was
breached to the downside on May 6. For now, SOL needs to hold the
support at the 23,6% Fibonacci retracement level. If successful, it
can attack the trendline and the 200-day EMA which are about to
cross (at roughly $24.5). Featured image from Play to earn diary,
chart from TradingView.com
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