This year, the cryptocurrency market has been dominated by meme coins. Industry professionals and investors have also begun to transform meme coins from purely speculative assets into a quantifiable “cultural spirit”. The booming development of meme coins has attracted a large number of users to the Solana ecosystem. In order to redirect this trend towards the Fantom ecosystem, Andre Cronje, co-founder of Fantom and hailed as the father of DeFi, today provides suggestions for those interested in issuing meme coins and organizing communities on Fantom.
Andre Cronje points out that the biggest risks for users of meme coins are:
– Team selling tokens
– Early investors selling large amounts
– Liquidity being drained
– Tokens having access control permissions
According to Andre Cronje, a successful meme coin should minimize these risks. Tokens must eliminate minting or ownership functions, and at most, only 10% of the total supply of tokens can be used for market-related expenses (listing on exchanges, promotions, over-the-counter trading with opinion leaders, airdrops, etc.). These tokens will be locked in a multi-signature wallet that requires signatures from 2 project members and at least 1 foundation member.
In addition, a maximum of 5% of the tokens will be used to support team expenses. These tokens will also be locked in a multi-signature wallet that requires signatures from 2 project members and at least 1 foundation member.
The remaining 85% of the tokens will be placed in the “FTM/tokens” liquidity pool in the foundation’s multi-signature wallet. 100,000 FTM will be provided as liquidity. Any Fantom-based automated market maker protocol (AMM) can be nominated as a liquidity pool. If the FTM in the liquidity pool reaches at least 2,000,000 FTM, the initially provided 100,000 FTM (5%) will be removed to cover the initial costs, and the remaining liquidity will be destroyed.
Andre Cronje calls for: [Translation ends here]
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