Crypto pioneer Andre Crone outlines a new strategy for launching community and meme coins aimed at improving investor protection.
André Crone, the founder of Yearn.finance and co-founder and architect of the Fantom Foundation, proposed a new framework designed to create a safer environment for both the community and investors interested in meme coins. In a recent post, Cronje outlined the risks associated with the current meme coin environment, such as team members selling tokens, early investors unloading large amounts, removal of liquidity, and tokens having access control.
To combat these issues, Cronje has opened a direct line of communication via Telegram or Twitter for those interested in starting a community or meme coin. He offers to assist in the launch, provided the idea is not offensive or derogatory to real persons or projects.
Cronje’s proposal included the following conditions:
- Marketing Allocation: Up to 10% of tokens can be allocated for marketing-related expenses, including listings, promotions, and airdrops. This part will be secured in a multisig wallet, which requires the approval of two project members and at least one foundation member.
- Team Support: A maximum of 5% of tokens can be allocated to support team expenses and will similarly be locked into a multisig wallet.
- Liquidity Provision: The majority of tokens amounting to 85% will be paired with 100,000 FTM in a Liquid Pool (LP) under the control of the foundation’s multisig wallet. Any Fantom-based Automated Market Maker (AMM) can be nominated for this LP. If the LP’s FTM balance reaches 2 million or more, the initial 100,000 FTM will be withdrawn to cover the initial cost, and the balance will be burned.
- No minting or ownership: The token will be designed without any minting or ownership capabilities, which eliminates the risk of unverified token creation or centralized control.
- Coordination of the launch: Cronje will personally coordinate the launch of the token on Twitter, ensuring a structured and well-publicized introduction to the market.
- Transaction Limits: To prevent market manipulation, the token will have a built-in limit that does not allow single transactions to exceed 1% of the LP pool, thus avoiding sniping and large dumps from early adopters.
Cronje believes these measures will greatly reduce the risks typically associated with community and meme coins. By implementing such a framework, the intention is to foster a more responsible and secure meme coin ecosystem that protects investors and supports sustainable project growth.
The crypto community is waiting to see how this proposal resonates with project creators and investors. As the landscape is constantly evolving, such proactive steps by influential figures like André Crone could pave the way for a more stable and reliable digital asset environment.
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