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Changpeng Zhao, the founder of Binance, has introduced a new proposal based on smart contracts aimed at controlling token distribution. This initiative seeks to prevent uncontrolled distribution of new tokens in the marketplace, allowing only 10% of tokens to be available for sale while the remaining 90% remains unaffected.
Innovative Approach to Token Distribution
According to the proposal, the revenue from the tokens sold will be directed toward areas such as development, marketing, salary payments, and community building. It suggests that projects issuing tokens should implement a mandatory six-month waiting period before any new sales. Additionally, a new sale will only be permitted if the current token price reaches twice that of the previous sale price.
Long-Term Projects and Market Stability
The proposal allows for 5% of the total token amount to be released with each new sale transaction. Project teams will have the right to reduce or postpone the amount sold. This approach aims to prevent sudden price drops that could occur in the early stages.
The locking system under smart contract control aims to create a balanced access to the token market. In practice, an independent third party will oversee the keys to protect tokens from unwanted fluctuations.
“If they do not wish to sell more, they are not obligated. However, the sale rate will be a maximum of 5% each time, followed by a six-month waiting period.” – Changpeng Zhao
The proposal addresses problems arising from similar practices in the market. It highlights that imbalances in token distribution have caused frustration among community members. The emphasis is on project teams planning more strategically for long-term success.
“The system prevents tokens from being released while prices are low. Thus, teams are encouraged to develop their projects in the long term.” – Changpeng Zhao
General assessments indicate that Zhao’s proposal could spark discussions within the industry. This approach may provide significant benefits concerning market stability and investor confidence, reinforcing the possibility of implementing similar systems in future projects due to its aim at establishing a disciplined structure in token distribution.
