In his blog post, Andre Cronje, founder of Fantom, proposed a detailed proposal to build a framework on Fantom for issuing, supporting and nurturing community Meme coins. The goal of the proposal is to create a safer environment for the community and investors, targeting four risks: team selling tokens, large-scale dumping by early investors, liquidity being eliminated, and tokens having access control. The specific proposal includes:
-1-Anyone who wants to launch a community/Meme coin for their ideas can contact Andre Cronje directly on Telegram or Twitter to provide ideas, graphics, names, token symbols and concepts.
-2-Up to 10% of the tokens can be used for marketing-related expenses, and these tokens will be locked in a wallet that requires multi-party signatures.
-3-Up to 5% of the tokens can be used to support team expenses, and these tokens will also be locked in a wallet that requires multi-party signatures.
-4-The remaining 85% of the tokens will be placed in the FTM/token liquidity pool in the foundation's multi-party signature wallet.
-5-100,000 FTMs will be provided as part of the initial liquidity pool.
-6-The token will have no minting or ownership functions.
-7- The token does not allow the purchase or sale of more than 1% of the tokens in the nominated liquidity pool in a single transaction.
These measures are intended to mitigate or at least curb the identified risks.