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Home»BLOCKCHAIN NEWS»Andre Cronje proposes a framework to strengthen the security of communities and Meme coins
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Andre Cronje proposes a framework to strengthen the security of communities and Meme coins

By Crypto FlexsApril 9, 20243 Mins Read
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Andre Cronje proposes a framework to strengthen the security of communities and Meme coins
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Cryptocurrency pioneer Andre Cronje explains a new strategy for community and meme coin launches aimed at strengthening investor protection.

Andre Cronje, founder of Yearn.finance and co-founder and architect of the Fantom Foundation, proposed a new framework designed to create a safer environment for both the community and investors interested in meme coins. In a recent post, Cronje outlined the risks associated with the current meme coin environment, such as token sales by team members, mass offloading by early investors, liquidity removal, and tokens with access controls.

To solve these problems, Cronje opened a direct line of communication via Telegram or Twitter for the community or those interested in launching a meme coin. He’s offering to support the launch of the idea as long as it’s not offensive or derogatory to actual individuals or projects.

Cronje’s proposal includes the following provisions:

  1. Marketing Allocation: Up to 10% of tokens can be set aside for marketing-related expenses such as exchange listings, promotions, and airdrops. This part is secured in a multisig wallet and requires approval from two project members and at least one foundation member.
  2. Team Support: Up to 5% of tokens can be allocated to support team expenses, which are likewise held in a multisig wallet.
  3. Liquidity provision: 85% of the bulk tokens will be paired with 100,000 FTM in a liquidity pool (LP) managed by the foundation’s multi-sig wallet. Any Fantom-based automated market maker (AMM) can be nominated for this LP. When an LP’s FTM balance reaches 2 million or more, the initial 100,000 FTM will be withdrawn to cover initial costs and the remainder will be burned.
  4. No issuance or ownership: Tokens are designed without issuance or ownership features, eliminating the risk of unconfirmed token creation or centralized control.
  5. Launch Coordination: Cronje will personally coordinate token launches on Twitter, ensuring a systematic and well-publicized market introduction.
  6. Transaction Limits: To prevent market manipulation, the token has a built-in limit feature that does not allow a single transaction to exceed 1% of the LP pool, preventing launch sniping and large-scale dumps by early adopters.

Cronje believes that these measures will significantly reduce the risks associated with communities and meme coins in general. By implementing this framework, the intention is to create a more responsible and secure MEMCOIN ecosystem that protects investors and supports sustainable project growth.

The cryptocurrency community is looking forward to seeing how this proposal will resonate with both project creators and investors. As the environment continues to evolve, these proactive actions from influential figures like Andre Cronje could lay the foundation for a more stable and trustworthy digital asset environment.

Image source: Shutterstock

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