I have a project which is currently in it’s infancy so I’m afraid I cannot give too many details which hopefully does not make this too difficult for the community to help me with. I’m about to pay a crypto consultant to help me with this, but don’t want to go in blind.
I have a lot of experience in business, but this is my first crypto project so please bear with me!
My project is a community driven platform. Special features will become available to users who own a certain amount of my token (similar to poocoin). Because my token has a function, I am hoping to drive the price up using its case use rather than being dependant on tokenomics to drive value.
So I want the tokenomics to support slow and steady growth.
I saw safemoon’s tokenomics and thought they sounded good because they essentially stake your holdings through pairing part of the taxation with bnb and then pegging an equal part of the tax to said pair.
Perhaps these are too complicated and I would be better off with something simple.
I’m also not sure whether i should use BNB or Matic/polygon.
Can anyone advise me on how to create tokenomics that support slow and steady growth (no pump and dump)?
I look forward to hearing from you.
Kindest Regards
Alex
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I’m not an expert on this and this is not professional advice.
Standard practice to avoid token holders dumping the token on the market is to grant them with a vesting schedule while the project grows. Tokens are locked and slowly released over time. For example, linearly over 4 years. Safemoon sounds like a scam to me personally, and its tokenomics are not trivial to understand, so yes I would suggest to go with something simple and standard like vesting.
Stay tuned for a vesting wallet in OpenZeppelin Contracts, probably coming in about 1.5 months.
You should also make sure that the token is well distributed initially, so that there are no whales that could be incentivized to pump and dump.
Thank you very much for the response, it’s helpful.
Vesting does sound like a good bet but this project is very long term. What’s to stop whales buying up in 4 years (for example), when the vesting period has elapsed?
The project is our main concern but requires the token to realise it’s full potential.
What are your thoughts on which network to use?
Matic/Polygon sounds almost too good to be true… i feel like i must be missing something; what advantages does BSC offer when comparing with Polygon? From my (inexperienced) perspective, it seems polygon does everything BSC does but is more decentralised than binance. Maybe I have misunderstood.
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