Earlier this month, Chinese artist living in Italy, also one of the largest anti-communist KOLs, 'Teacher Li is not your teacher' announced the issuance of cryptocurrency $Li through Pump.fun. Teacher Li stated that this is to ensure that the team's operational funds are independent and will establish a transparent foundation with multi-signature management. The team holds 25.8% of the $Li tokens and will only sell tokens to maintain operational costs. Recently, another overseas KOL, Wang Zhian, interviewed Teacher Li, discussing the controversies surrounding the event and the details of the coin issuance.
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Selling coins is only for maintaining operations. Is Li Coin Politifi 2.0?
After the white paper movement, he gradually became the Twitter account 'Teacher Li is not your teacher,' which understands the internal situation of China. On the 18th, he announced the issuance of $Li through Pump.fun. This is mainly because the team's cash flow was suppressed by the CCP authorities, and to maintain independent operations, additional funding was needed. Therefore, the issuance of $Li was to establish a foundation to support teams with ideals and ambitions. The Snowflake Foundation managing the Twitter account holds 19.5% of the coins, Teacher Li himself holds 2%, and the remaining team members hold 4%.
Teacher Li stated that the foundation will only sell coins under the condition of maintaining operational costs, and any team or individual with ideals and ambitions can showcase their projects in the community, which will then be voted on by $Li holders to decide whether to proceed with funding. The goal is to become a decentralized overseas Chinese community. As for the issuance of coins, only one engineer familiar with the crypto space in the team was informed. The night before the coin issuance, Teacher Li taught the other members how to use the Solana wallet.
Inspired by DeSci, $Li will be used for team operations and to support KOLs.
In the interview, Wang Zhian, who comes from a journalism background, repeatedly raised doubts, such as why Teacher Li does not monetize his 300,000-followed YouTube channel but chooses to issue coins instead. Teacher Li stated that he does not like to speak in videos; he is more like a writer, and YouTube is not his career. Wang Zhian believes that filming can be left to the team, but the current situation is that the team's output quality is poor.
As early as during the white paper movement, someone suggested to him to issue coins, but the opportunity to decide to issue coins came when his address in Italy was discovered again a while ago. Under Wang's constant questioning, he revealed that the monthly operational cost is about 15,000 euros. Some have also dug up Teacher Li's past views that cryptocurrencies are all scams, but he stated that after continuous understanding, he began to believe that cryptocurrencies are the future. The issuance of $Li and the establishment of the foundation were inspired by the recent trend of DeSci.
Because the operation model of DeSci also involves fundraising through coin issuance, which is then invested in scientific research and development.
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In response to community doubts about the second coin issuance, Teacher Li: The first coin issuance encountered robot holdings.
In response to community doubts about having previously issued $Li coins, Teacher Li stated that after the first version was created, it was originally planned to be made public on December 18. He also held 25% of it initially. However, after the coin was issued, robots participated in trading, so he decided to abandon this version and sell the tokens he held. It wasn't until December 18 that the token was relaunched and the news was made public on Pump.fun.
However, there are more doubts than trust regarding Teacher Li in the comments below the interview video; if interested, you can click on the video to watch.
This article 'Is Li Coin a scheme to harvest韭菜?' Wang Zhian interviews the largest overseas anti-communist KOL, Teacher Li: The issuance of Li Coin was actually inspired by DeSci, first appeared in Chain News ABMedia.
