Fantom Co-Founder Proposes Safer Meme Coin Issuance to Protect Investors
Portfolio Pulse from Khyathi Dalal
Andre Cronje, co-founder of the Fantom Foundation, has proposed a new method for issuing meme coins on the Fantom network to enhance investor safety. The proposal includes measures such as the Fantom Foundation acting as a signer for token liquidity pools, allocating up to 5% of tokens for team expenses, 85% for an FTM/token liquidity pool, and a maximum of 10% for marketing. This initiative aims to mitigate risks associated with meme coins, such as token sell-offs and liquidity withdrawal, by ensuring more controlled and fair token distribution.
April 09, 2024 | 3:50 pm
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POSITIVE IMPACT
The proposal by Andre Cronje to issue meme coins with enhanced security and fairness on the Fantom network could positively impact the perception and utility of Fantom (FTM), potentially leading to increased investor confidence and demand for FTM.
The proposal directly involves the Fantom network and its native token, FTM, by using it in liquidity pools for meme coins, which could increase its utility and demand. Enhanced safety and fairness measures may attract more investors to the network, potentially driving up the price of FTM in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90