The former CEO of Binance Changpeng Zhao (CZ) has put forward a new idea to issue a distinctive symbol that aims to face one of the biggest challenges in encryption: market flood.
Under this new model, the distinctive symbol, the distinctive symbol will not be operated only after fulfilling specific conditions related to time and price.
Distinguished code, police opened
“Crazy idea”, founder of Binance on March 1 x mailThey will only have 10 % of unlawful codes at first for sale while the remaining 90 % remains without touching. He stated that sales revenues will be allocated to the costs of development, marketing, salaries and community building.
The main advantage of this approach is that the outcomes of the distinctive symbol in the future will be subject to strict conditions. Zhao explained that each version should happen after at least six months after the previous version, and with conditions that the new price has continued twice the price of the previous conquest for more than 30 days.
In addition, the maximum amount of the amount of symbols that can be released at each stage is limited to five percent of the total offer.
Using an example to clarify the concept, select a scenario where the distinctive code that was created in January will not be at a primary price of one dollar qualified to cancel an additional lock in June unless the price exceeds $ 2 for at least 30 days.
If this condition is met on August 3 with the price at $ 3, the next lock will not be opened until March 3 of the next year and only if the price rises to at least $ 6 for the required period.
The project teams will have the estimated authority to delay or reduce the size of each stage, but it will not be able to shorten the waiting period or increase the percentage of the symbols that have been issued.
Zhao stated that this model avoids the problem of entering coins into the market when the prices are low and stimulates the project teams to focus on long -term growth.
CZ explains that he has no launch plans
While presenting the idea, Zhao also stated that he had no plans to launch a new coin. He also admitted that although the model was innovative, it was not a solution to everyone.
His proposal comes at a time when fears of pump and discharge plans in the encryption market are increasing, especially after the last collapse of the scale.
The accident witnessed an increase in scale prices to approximately 5 dollars, which prompted the market value to more than 4 billion dollars before its Sunnah decreased and wiped more than $ 4.4 billion of its value.
The former CEO has previously expressed his dissatisfaction with the market manipulation and pledged to support the victims of the fraudulent plans. In line with this, a donation with symbols received from the Unknown Market participants to compensate for the Test victims (TST) and broccoli projects.
Binance Free $ 600 (Full Details).
Limited offer for Cryptopotato readers in Bybit: Use this link to register and open a $ 500 free site on any coin!
