Binance's new Launchpool project Notcoin is a bold attempt by Binance and a friendly signal to community coins. Or we should pay special attention to the future market, have fewer institutions that harvest leeks, and encourage more high-circulation projects held by the community.
Notcoin is a Telegram game. Although it has 5 million daily active users, the core is Tap-to-Earn, where users need to click... (100 million times omitted here) to earn points/tokens.
If your reaction is "what garbage is on Binance?", it means that you only believe in value coins from the bottom of your heart. Then you should be careful, because many value coins in this bull market cannot make you money.
Recently, institutional coins with high market value have been widely criticized. This is the new way of playing in this round of bull market: new technology direction + reliable team, investment with high financing and high valuation, attracting the wool party to obtain good data, and then listing on the exchange, the project party and the institution cash out a lot in the bull market. In the end, the retail investors are the ones who get hurt, and they are the leeks who take over the exchange.
So now more and more people are pursuing MEME. But this is not a good thing. If no one builds it, the industry will stop progressing. However, if you want to do a project, most teams cannot bypass the organization. Starting from an idea, developing the product step by step, and then landing it, it requires a lot of money.
So, it seems that we are in a dilemma again. But it is not an unsolvable situation. This new way of playing has a characteristic, low circulation and high FDV at the opening. For example, Starknet, its circulation market value is only 800 million US dollars, which is lower than MEME such as Wif. But the total market value is as high as 12.1 billion US dollars. The low circulation market value makes it easy for the project party to effectively control the market, and then use the favorable conditions or high liquidity in the bull market to cash out. Therefore, one idea to solve the problem is to increase the circulation ratio during TGE and reduce the proportion of teams and institutions.
As the largest exchange, Binance's every word and action will affect the entire industry. However, it cannot fully embrace MEME, which will chill the project developers who are focused on building it. It cannot reject top-level projects, after all, they represent innovative technology. Imagine if Binance did not list arb and op, wouldn't people be surprised? However, Binance can express signals through its influence and support for some projects.
At the end of last year, Binance launched the FairMode launchpool, which greatly increased the circulation volume during TGE. So for the same circulation market value at the opening, the FDV is several times smaller. The Notcoin project this time also meets the characteristics of high initial circulation. The initial circulation volume is as high as 100%, and up to 78% is allocated to miners, which will be allocated to 35 million cumulative users and 5 million daily active users.
To be honest, does Binance want high-market-cap projects? The money is all earned by the project owners and institutions, and the users of the exchange are acquired. Binance's point of view is also very obvious. Yijie once liked two of my articles. One is about FairMode, and the other is about keeping everyone away from high-market-cap institutional coins. The meaning is self-evident.
The game mechanism of Notcoin is relatively easy to understand. The core is to accumulate coins by clicking on the game interface. The entire interface is on Telegram. On this basis, there are some ways to increase coins.
1) Join a team. Players can work together and mine gold coins together. When you join a team, you can get a reward.
2) Invite friends. Invite friends to join the game and earn coins. The higher the referral score, the more rewards you receive.
3) Advertising: Notcoin has advertising tasks. You will get gold coins by completing advertising tasks.
4) Leagues: There are five levels of leagues in the game: Bronze, Silver, Gold, Platinum and Diamond. When you reach a certain point threshold, you will automatically be promoted to a higher league and receive rewards.
The Notcoin project team hinted at the next plan on Twitter, which may include launching transactions, advertising for other projects, etc. After all, Notcoin is already the project with the largest number of users on Ton. With such a large number of users, further project planning can be done.
In terms of tokens, the total number of Notcoin tokens is 102,719,221,714, which will be in full circulation after going online.
78% allocated to miners
9%, Ecosystem Fund
5%, community incentives
5%, developers
3%, Binance Launchpool
From the perspective of token distribution, there are several major characteristics
1) A large portion is allocated to the community, with Miners accounting for up to 78%. If we include Launchpool, which is also a form of retail mining, then the total amount is as high as 81%.
2) Developers only account for 5%, which is far lower than the 20% of other project parties.
3) There are no investors here, yes, no investors.
The project official also gave another statistic, 22% will be used as future user growth. So when TGE is listed, most of the tokens should be allocated. Of course, we will continue to track the situation on the chain and follow up on the tokens.
The point is, the world has suffered from VC coins for a long time, it’s time to make some changes and have more community coins appear.