We have a solution to make sure the
$GSD situation never happens again.
The results of
$GSD,
$RALPH among other high ticket projects expose broken utility-concepts in crypto-backed projects. Here’s the problem & our solution in a nutshell:
Fee-based tokens are 0 barrier vehicles to raise funds; yes.
But what do holders get as a result of effectively donating 1-2% of their volume to the token creator?
The only option has long been buy back & burn, which is a progressively decaying mechanism, every new tranche requires a fee performance significantly greater than the last to yield the same token performance; incredibly difficult to sustain
Then results creators infinitely feeding a draining bucket and grossly relying on launchpad owners (
@BagsApp) to support their tokens; incredible unsustainable for both creator & launchpad
So while the
$GSD situation is very unfortunate, there is potentially an unknown time bomb for creators who can’t solve this utility-cycle
——
We have a solution (our project in silence last 4 weeks); a revenue-backed utility where tokens become a right to distributions. Yes crypto does not = equity, it is not an ownership in the community, but that doesn’t mean you don’t have rights.
Pinging
@finnbags @StuuBags @sincara_bags @ramyobags @Sambags12 to join discussions; as we believe this will fundamentally fix utility-tokens for the entire industry.