I'm gonna say something very controversial now
A BURN WON'T HELP A MEMECOIN THAT'S JUST STARTING
Why? How much can you actually burn to make a difference? Where will the rest of the burns come from? "What's next"?
Burns were added to the crypto world a long time ago as a "hype" event for any token. Back in the day, the burns were actually meant to achieve something: reduce supply, bring more exposure, increase the value of existing supply
But those were singular events, once in a while, that the project used to do, with a shitload of money, in order for it to count
But let's take a look at today's world with memecoins doing burns at the first of the phase:
> Making a 1-3-10-20% supply burn from the dev wallet
What will this create? A good topic of discussion for 30 minutes and supply reduction
What will happen in the next 30 minutes? "What's next" question
And a memecoin DOESN'T NEED to have a product, revenue, a whitepaper, a roadmap, a whiteboard, or a shareholders' meeting
A memecoin should have A COMMUNITY first
And how do you grow a community? By doing stunts, activations, community events, partnerships, collaborations, spaces, giveaways, prizes, contests
Yes, I'm against burns, especially at the early stage of a project/memecoin, and I find it more valuable to use that supply to expand your community first rather than a 1% supply burn
If you do have cash flow in and your goal is to burn as much, that's perfectly fine; but that doesn't mean every meme should have that
A meme is a meme, its supposed to be fun
Happy trading!
Fresh smell of a new product upgrade in the morning
Complete new mechanic to Cronos incoming
Meant for growth, meant for stability, meant for rewards
Incoming today.
If you’re new to Cronos, welcome!
Here’s your platforms if you want to make it:
> Trading: @wolfswapdotapp
> NFTs: @EbisusBay
> DEX: @ObsidianSwap@VVS_finance
> Memes: $ULTI, $ULTCAT, $CAW and more
> Utility tokens: $PACK, $OBS, $CRONUS
Share your wallet in comment and tag a friend that its not on Cronos yet, i’ll send 3x 10$ in $CRO to 3 random comments 🐺