Dilemma and Dawn: Exploring the Path of Value Return in the Crypto Industry from "Zhao Changpeng's Crazy Idea of Token Issuance"
Regardless of whether the suggestions made by Zhao Changpeng can truly be adopted by the industry, and even though there may be various challenges in the initial implementation, it must be said that it is a beneficial guidance for the development path of the industry.Author: Haotian
Following the dimension of thought proposed by Zhao Changpeng, it is found that this idea essentially aims to solve the balance between "project token issuance" and subsequent "sustainable development." However, there are indeed many possibilities for "exploiting loopholes." Here are several optimization suggestions:
1) If the initial unlock amount is relatively small (10%), it can indeed reduce the risk for early investors, but it may also allow a small amount of capital to manipulate the market, resulting in increased volatility of early token prices, and there may even be some shell projects specifically aiming to exploit the 10% hype.
It is suggested to increase the initial unlock amount (20%-30%?), especially to set a minimum market value requirement to avoid being immediately inflated in market value for chip distribution. The key is that early VC capital parties and partners in the supply chain, exchanges, etc., should come out to endorse and transparently disclose the team's background, code quality, business logic, chip distribution, and other situations;
2) If the requirement is only to maintain the price at a certain high level for unlocking, it may lead to collusion between the team and large holders, making the chip unlocking period directly related to price manipulation, which does not protect the interests of a broader range of investors.
It is suggested to extend the observation period, for example, to 90 days. The key is that before unlocking, a systematic transparent "data report" should be disclosed, including monitoring of trading volume, holding addresses, price volatility, large transactions, etc., to ensure that the synchronized growth of price and supply is in a healthy state;
3) Simply binding price and supply does not truly reflect the value of the project. For example, most MEME coins have no actual value, and if only maintaining the price is sufficient, the industry loses the possibility of value creation and price matching, which further weakens the narrative power of industry technology.
Therefore, the above data report should also include some value dimensions, including DAU, TVL, developer activity, community growth scale, technological implementation progress, number of ecological partners, project income levels, and other multiple measurement dimensions that can reflect value;
4) The current predicament of Tokenomics is related to the imbalance of price and value, but the key issue is still the lack of an effective "elimination mechanism," leading to the emergence of many money-grabbing projects, and even making project development a production line process, where if one fails, another is quickly rebuilt.
This behavior of project parties pouring resources into garbage projects, detached from basic regulation and moral constraints, needs a mechanism to counteract it. For example, projects could stake a portion of USDT in the contract, and if they cannot truly trigger the conditions for sustained growth within a year, the entire industry should undergo liquidation and accountability; regularly conduct community voting to provide development suggestions for projects and impose constraints on projects, such as voting to change unlock and team allocation ratios;
Regardless of whether Zhao Changpeng's suggestions can truly be adopted by the industry, and even if they may face various challenges in the initial implementation, it must be said that this is a beneficial guidance for the development path of the industry. This exploration, starting from the design of Tokenomics mechanisms, attempting to solve the dilemmas of token economic models, reminds one of those pioneers from years ago who devoted themselves to preaching BTC. Their spirit is truly commendable, Respect!
The green mountains remain unchanged, growing stronger over time. In the current situation where the industry is mired in various contradictions and dilemmas, we need such whistleblowers and guides.
