Crypto pioneer Andre Cronje has outlined a new strategy for launching community and meme coins aimed at increasing investor protection.
André Cronje, founder of Yarn.Finance and co-founder and architect of the Fantom Foundation, has proposed a novel framework designed to create a safe environment for both the community and investors interested in meme coins. In a recent post, Cronje outlined the risks associated with the current landscape of meme coins, such as token selling by team members, large volume selling by early investors, removing liquidity, and having access controls in the token.
To deal with these issues, Cronje has opened a direct line of communication via Telegram or Twitter for the community or those interested in launching a meme coin. He is offering to assist in the launch, provided the idea is not offensive or derogatory towards real individuals or projects.
Cronje’s proposal included the following conditions:
- Marketing Allocation: Up to 10% of tokens can be set aside for marketing-related expenses, including exchange listings, promotions, and airdrops. This stake will be secured in a multisig wallet, which will require 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 likewise be locked in a MultiSig wallet.
- Liquidity Provision: The bulk of the tokens, amounting to 85%, will be added to a liquidity pool (LP) with 100,000 FTM under the control of the Foundation’s multisig wallet. Any Fantom-based Automated Market Makers (AMMs) can be nominated for this LP. If an LP’s FTM balance reaches $2 million or more, the initial 100,000 FTM will be recovered to cover initial costs, and the remainder will be burned.
- No minting or ownership: The token will be designed without any minting or ownership capabilities, eliminating the risk of uncontrolled token creation or centralized control.
- Launch Coordination: 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 restriction that does not allow a single transaction of more than 1% of the LP pool, thus avoiding launch sniping and large dumps by early adopters.
Cronje believes that these measures will significantly reduce the risks associated with the community and meme coins in general. 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 development.
The crypto community is waiting to see how this proposal will resonate with project creators and investors. As the landscape continues to evolve, such proactive steps by influential figures like Andre Cronje can pave the way for a more stable and trustworthy digital asset environment.
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