Ethereum

Medium

Multichain

Fantom

Foundation

Blockchain developer Andre Cronje detailed how a safer meme coin and community may be achieved using transparent tokenomics to derisk projects on Fantom. 
In a <a href="https://andrecronje.medium.com/safer-community-meme-coins-9cda6f882c59" target="_blank" rel="">blog post</a>, Cronje wrote that most concerns around meme coins center around teams selling tokens, early investors liquidating large amounts, developers withdrawing liquidating, and creators retaining access control post-launch.&nbsp; 
The issues have been evident in several meme tokens launched in recent months, some of which turned out to be <a href="https://crypto.news/solana-meme-coin-team-rug-pull/" target="_blank" rel="">rug pulls</a> and cash grabs. In a lot of cases, early investors, usually involved in pre-sale raises, tanked market prices after launch, or the meme coin developer dumped a large amount on new users in the open market.&nbsp; 
<h2 class="wp-block-heading" id="andre-cronje-s-meme-coin-fix">Andre Cronje’s meme coin fix</h2> 
<a href="https://crypto.news/fantom-ftm-foundation-secures-default-judgment-against-multichain-foundation/" target="_blank" rel="">Fantom Foundation</a> Co-Founder Andre Cronje proposed allocating up to 10% of the token supply for marketing expenses such as airdrops, exchange listings, Key Opinion Leader over-the-counter deals, and social media promotions. Cronje said this amount would be secured at a multi-signatory address requiring three individual approvals.&nbsp; 
A multi-sig holding 5% of the supply would be sufficient to bankroll meme team expenses, Cronje also wrote in his Medium post. The remaining 85% of tokens would be designated to a liquidity pool (LP) paired with Fantom’s native cryptocurrency <a href="https://crypto.news/price/fantom/" target="_blank" rel="">FTM</a>.&nbsp; 
 You might also like: <a href="https://crypto.news/fantom-ftm-foundation-secures-default-judgment-against-multichain-foundation/" rel=""> Fantom (FTM) Foundation secures default judgment against Multichain Foundation </a> 
An initial 100,000 FTM would be tendered to any Fantom-based automated market market voted for by the meme coin community. Additionally, Cronje suggested withdrawing this amount and burning liquidity if the LP’s FTM exceeded two million FTM.&nbsp; 
The Fantom developer stressed that the meme coin must have no minting or ownership features, and offered to coordinate the project’s launch on X.&nbsp; 
<blockquote class="wp-block-quote"> 
 “The token does not allow purchases or sales greater than 1% of the nominated LP pool in a single transaction. This will avoid initial launch sniping as well as potential large future dumps by early members, and will not impact any other liquidity pools created.” <cite>Andre Cronje, Fantom Foundation co-founder </cite>
</blockquote> 
Due to a slew of <a href="https://crypto.news/ethereums-buterin-slams-solanas-racist-meme-coins-urges-better-projects/" target="_blank" data-type="link" data-id="https://crypto.news/ethereums-buterin-slams-solanas-racist-meme-coins-urges-better-projects/" rel="">controversial memes</a> on Ethereum and Solana, Cronje clarified that he will not assist any offensive project, or any idea referencing real persons.&nbsp; 
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 <img loading="lazy" decoding="async" width="1024" height="436" src="https://crypto.news/app/uploads/2024/04/Screenshot-369-1024x436.png" alt="Andre Cronje"> 
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 FTM daily chart | Source: CoinMarketCap
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 Read more: <a href="https://crypto.news/vitalik-buterin-calls-for-higher-quality-meme-coins/" rel=""> Vitalik Buterin calls for ‘higher quality’ meme coins </a>

Fantom’s Andre Cronje shares ‘safer meme coin’ thesis

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