MT Capital Research Report: Fair Launch, a profound change in the way tokens are issued
Author: Xinwei, Ian
TL;DR
In the past few years,BlockchainThe industry has undergone tremendous changes, especially inTokenThere has been a significant innovation in the issuance method. From the initial simple ICO to the complex DeFi structure, and then to today’s Fair Launch andCommunity驱动模式，这些变革不仅重塑了资产分配的格局，也引发了市场参与者的广泛关注。接下来，我们将深入探讨几个代表性的项目，它们各自以独特的代币发行方式，展现了这一领域的创新和进步。
本文深入分析了几个关键项目，从铭文的散户驱动模型，到Blast的激励创新，到ZKFair的重视公平性，到Analysoor的分配方式创新，再到Binance用Fair Mode重新定义代币经济，这些项目不仅展示了cryptocurrencyThe diversity of the ecosystem also reflects the market's growing demand for transparency and fairness.
MT Capital 投资总监Ian 的观点：“#BRC20、#Blast、#ZERO、#ZKFair等项目实验中，我们见证了一种伟大的创新方式——所有人的公平分发。它们不依赖于平台币或投资者，最早期的参与者即完成了项目的投资、分发、市场推广和布道。这类似于DeFi Summer中的流动性挖矿，项目的自身流动性激励为整个链上创造了繁荣。公平分发极大提升了社区参与者的积极性，达到了前所未有的高度。”
inscription
The rise of inscriptions is similar to the previous DeFi Summer, and the core lies in the concept of fair launch. This concept was very popular during the DeFi Summer period, mainly referring to the project party not retaining any share in the initial token distribution. For example, Andre Cronje, the founder of Yearn (YFI), claimed that he did not pre-mine, retain tokens, or notify insiders in advance. This practice greatly enhanced his reputation and brought huge TVL to Yearn.
然而，随着 DeFi Summer 的逐渐落幕，市场见证了越来越多的项目涌现，整个加密货币生态变得更加成熟。这一时期，资本开始进入市场，开启了一个由VC驱动的项目启动模式。在这个模式下，融资额度大、投资机构声望高的项目更容易吸引市场关注。这也催生了一些主要依赖“撸毛”生存的用户和那些渴望明星项目空投的普通散户。
In this context, the emergence of inscriptions has brought new changes. It is regarded by some as "the world of retail investors" because all chips are minted entirely by retail investors. Although inscriptions are regarded by some critics as having only meme coin attributes and lacking long-term practical application scenarios, they provide more opportunities for retail investors. As more and more inscription projects are born and end the asset issuance stage, the Bitcoin ecosystem is expected to enter a new application construction stage.
https://geniidata.com/ordinals/index/brc20
Blast
自从11月21日上线以来，Blast 迅速成为加密货币市场的焦点，展现了其在 Layer2 网络领域的创新与吸引力。
Blast is a Layer2 network launched by Pacman, the founder of Blur. Based on Optimistic Rollups technology, Blast is compatible with Ethereum, providing a convenient access method for developers and dApps. The rapid growth of Blast's TVL and number of users is quite eye-catching. Currently, Blast TVL has reached 1 billion US dollars.
In addition, Blast has completed a $20 million financing round with participation from Paradigm and Standard Crypto.
One of the main ways Blast attracts users and developers is through airdrops and incentive mechanisms. According to the plan, an airdrop will be carried out in May 2024 to reward early members and developers. Users can deposit assets and invite new users to join Blast. L2 These points will directly affect the number of airdrops they receive. This mechanism encourages user participation and promotion.
The core appeal of Blast is itsStaking Miningand additional rewards. By depositing funds into Blast and staking on the Ethereum mainnet using Lido, users can not only obtain staking income, but also receive additional Blast rewards. The fundamental purpose of this strategy is to increase TVL and attract more users to participate in order to obtain additional Blast rewards. Blast's success relies on its innovative Layer2 solution and incentive mechanism to attract users and developers.
https://dune.com/0xramen/blast-stats
ZKFair
ZKFair (ZKF) is an innovative project based on Ethereum, focusing on building a fair and community-driven second-layer network. As the first ZK-Rollup on Ethereum that utilizes Polygon CDK and Celestia DA technology, ZKFair’s core goal is to lower the current high entry barriers for users of the second-layer network. In the current market environment, many ZK-L2 Projects are led by VCs with high valuations, but it is difficult for ordinary users to get substantial returns from them. These projects also encourage users to pay high transaction fees, but the token incentives are issued slowly, which is not user-friendly.
ZKFair is trying to change this by creating a fair-launched, community-driven network. This network is not only technologically advanced, but also supported by Lumoz RaaS. The project's native token $ZKF adopted a 100% fair launch method, with no shares reserved for investors, bookers or early miners. All tokens are planned to be airdropped to the community after the mainnet is launched, and the total supply is set at 10 billion, of which 7.5 billion will be used for gas fee airdrops and the remaining 2.5 billion will be used for community users.
What makes ZKFair so eye-catching is its unique market positioning and distribution strategy. Market analysis is generally optimistic about its opening potential, and it is expected to achieve a 5-10 times increase in value. It uses the stablecoin USDC as Gas, combined with a low market value and a novel chip distribution model, this project provides investors with an attractive story and a fair distribution mechanism. Regarding token acquisition, the rules state that addresses that have interacted with platforms such as zkSync, Scroll, ZKSpace, Polygon EVM, Linea, etc. within a specific period of time are eligible for airdrops. In addition, the project also stipulates the detailed process and restriction rules for burning Gas to obtain ZKF tokens, as well as strategies for how to quickly consume Gas by interacting with Dapps.
Analysoor
Analysoor is the first Meta Protocol on the Solana chain, introducing an innovative method for NFT and token creation and distribution. At its core, it uses block hash values as random number generators to select a winner per block, effectively offsetting the influence of robots in the $ZERO and Index ONE NFT casting process.
Analysoor's fair issuance mechanism focuses on fairness and liquidity orientation, with no pre-sale, whitelist, team allocation, or GAS fees paid for first-time transactions. This means that every participant is on the same starting line, and differences in capital volume will not affect the casting competition. The casting fee does not flow to the project party or miners, but is used to increase liquidity and support the ecology and community.
Analysoor is building a strong community consensus, and its value and potential are being recognized by more and more people. Developers are also working hard to adopt more innovative methods to combat potential robot behavior and ensure the long-term maintenance of fairness, including AI Algorithms and machine learning will play an important role.
Compared to other mainstream Launchpad projects on other public chains, Analysoor’s current market value may be underestimated. Considering that there is no leading Launchpad protocol in the Solana ecosystem, Analysoor has the potential to become this role and achieve huge value growth in the future.
The market demand for fairness and transparency is growing, and the Fair Launch mechanism will become a trend. Especially on high-performance public chains such as Solana, 2024 may be the year when Meta Protocol breaks out. As a pioneer of Fair Launch on the Solana chain, Analysoor has great potential and a strong vision, and may expand into a multi-functional Launchpad in the future.
Fair Mode
Binance 最近推出的 Launchpool 模式“Fair Mode”代表了代币经济系统的一次重要创新。这一模式的核心不仅在于项目本身，而更在于对代币经济系统的重新构思，旨在促进项目的长期良性发展。Fair Mode 引入了一个占比 27% 的长期发展基金，这些代币不能被消费或出售，不会进入市场流通，而是用于质押和参与生态系统，支持项目的持续增长。此外，该模式在其 25% 的初始流通中为散户公平分发了高达 21% 的代Xiaobai NavigationThis not only increases the community’s influence in project decision-making, but also stimulates their willingness to cooperate with project parties.
By increasing the initial circulation and reducing the future unlocking amount, Fair Mode reduces the selling pressure in the market and lays the foundation for the long-term stability of the token value. At the same time, by reducing the token proportion of the team and investors, this model reduces their ability to manipulate the market and helps maintain the healthy value of the token. Binance has demonstrated its deep understanding of the industry by introducing Fair Mode, which may lead a new trend for the innovation of the token economic system. This model emphasizes the rationality and fairness of token distribution and is expected to become a driving force for the entireBlockchainAn important factor for the advancement of technology and token economy.
https://twitter.com/heyibinance/status/1737813180141666324
Summarize
In summarizing this brief Insight, we can see thatBlockchain领域在代币发行方式上的显著演变和创新。从最初的ICO到DeFi，再到今日的公平发行和社区驱动模式，这些变革不仅重新定义了资产分配的方式，也引起了市场的广泛关注。具体项目如铭文、Blast、ZKFair、Analysoor和Binance的Fair Mode，持续采用公平分发的模式均得到了不错的市场和主力反馈。这些项目的成功尝试不仅展示了加密货币生态的多样性和成熟度，而且强调了社区参与和公平发行在未来区块链技术发展中的重要性。随着这些创新的推进，区块链行业预计将继续在全球金融和技术领域扮演重要角色，并为未来的发展开辟新的可能性。
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