TL;DR
- Andre Cronje, co-founder of Fantom (FTM), has presented a proposal framework aimed at providing a safer environment for the launch of tokens and memecoins.
- The proposal is designed to address the risks associated with token launches, such as massive selling by the team or early investors.
- FTM surged after the announcements, accumulating almost a 12% increase in the last week. 3% in the last 24 hours.
Andre Cronje, co-founder of Fantom (FTM), has introduced an innovative proposal framework aimed at providing a safer environment for the launch of tokens and memecoins.
The proposal is a response to the risks associated with token launches, such as massive selling by the team or early investors, sudden liquidity removal, and improper token control. Cronje has designed a comprehensive framework to address and mitigate these risks and promote more responsible practices.
Safer community / meme coins on Fantomhttps://t.co/OumQRHojOi pic.twitter.com/MpXihI435C
— Andre Cronje (@AndreCronjeTech) April 9, 2024
The framework proposed by Fantom’s co-founder establishes several key aspects to ensure security and transparency in token launches. Firstly, a specific percentage of tokens is allocated for marketing and team expenses, which will be locked in a multisig wallet. This ensures that funds allocated to these areas are used responsibly and transparently, requiring multiple signatures for access and authorization.
FANTOM (ftm) Surges Following Cronje’s Announcements
Additionally, a significant portion of the tokens is allocated to a liquidity pool (LP) along with FTM. This liquidity reserve acts as a buffer and promotes market stability, preventing extreme volatility and protecting investors from sudden price movements.
Another key aspect is the implementation of transaction restrictions on tokens, preventing operations that exceed a certain percentage of available liquidity. This measure favors preventing the so-called ‘sniping‘ of the launch and avoids large sales by early members, ensuring a more equitable and transparent process.
The presentation of this proposal had a very positive impact on FTM market sentiment, with an 11.48% increase in its price in the last week. It is currently trading at $0.973. The framework aims to improve security and confidence in token launches and is likely to open new opportunities for investors and developers on the Fantom blockchain.
