CZ releases "crazy idea of token issuance" but says he has no plans to issue tokens

PANews reported on March 1 that CZ posted on the X platform that he had a crazy idea for token issuance: What if someone issued a token with the following token economics?

Initially, 10% of tokens are unlocked and sold on the market, and the proceeds will be used for project team product/platform development, marketing, salaries, etc. Each future unlock must meet all of the following conditions:

1. Six months after the last unlock.

2. Only when the token price remains at more than 2 times the previous unlocking price for more than 30 days before unlocking.

3. A maximum of 5% of tokens can be obtained each time.

For example, if the TGE price is $1 in January, by June, if the token price is still below $2, no more tokens can be unlocked. Assuming the token price is above $2 between July 4 and August 3, then on August 3, 5% of the tokens can be unlocked into circulation. Assume the price on August 3 is $3. The next earliest unlocking time is March 3 of next year, and can only be unlocked if the price is above $6 for more than 30 days.

The project team has the right to decide to postpone or reduce the size of each unlock. If they don't want to sell more, they don't have to. But they can sell (unlock) up to 5% each time, and then they have to wait at least 6 months and the price doubles again. The project team does not have the right to shorten or increase the size of the next unlock. The tokens will be locked by a smart contract with a third party controlling the key. This avoids new tokens flooding the market when prices are low, and also incentivizes the project team to build for the long term.

However, CZ stressed that he has no plans to issue a new token, it’s just an idea for discussion.

Share to:

Author: PA一线

This content is for informational purposes only and does not constitute investment advice.

Follow PANews official accounts, navigate bull and bear markets together
Recommended Reading
4 hour ago
8 hour ago
12 hour ago
15 hour ago
16 hour ago
19 hour ago

Popular Articles

Industry News
Market Trends
Curated Readings

Curated Series

App内阅读