What happened during the week of October 11-17 in quotes: Free TON community DeFi Alliance representatives made an unexpected proposal, NFT sloths can be bred in Solana blockchain, NEAR celebrates its anniversary, and much more.
Will burning Crystals increase its rate growth?
Since the inception of blockchain, for a year and a half, the community has developed only through a meritocratic token distribution system and partnerships.
One of the most important projects implemented in the ecosystem was the creation of the Free TON↔Ethereum bridge and the TON Swap exchange, which has already attracted more than $25 million in blockchain through the implementation of the farming program.
Also, at the moment, TON Crystal holders have the opportunity to choose the most suitable of all Free TON wallets. The emergence of wallets is the result of several thematic contests in Free TON. One of them suggested creating an alternative to Metamask, and the developers responded to the call by issuing several options for wallet extensions.
However, some projects in Free TON are described by the DeFi Alliance as flops. And submit their vision of further changes in Free TON for consideration and voting.
“The Free TON DeFi Alliance proposes to address the existing issues and upcoming challenges and requests additional funding for the implementation of:
- Project rebranding;
- Supply and demand balance;
- Collaboration with top exchanges;
- Consistent business development;
- Developer attraction;
- Integration and technical support of new partners;
- Givers reform;
- Better communication with the external world”.
“To commence the changes above, we propose to:
- As part of the Growth phase prepare and launch Stage 2 of the DeFi Alliance and allocate an additional 250M TON for this;
- Prepare and launch the Crystal Hands special project and allocate 280M TON for farming and vested bonuses to enable a significant inflow of liquidity;
- Prepare and launch the Foundation and allocate 50M TON for its purposes;
- Burn 3B TON from the referral giver;
- Select a new brand name and begin the rebranding process ASAP”.
Community Response to Changes
In my opinion, it’s crazy to write about burning of 3/5 of the existing emission, without providing any motivation or objective research. It looks like Vasya behind the garages is telling us how to get Russia off its knees with one elementary action.
That’s absence of common sense. Burn it in order to print it again?
Many agreed that it made sense to reconsider the vision of ecosystem decentralization. But the focus was on how to get everyone to agree on a new development concept.
In general, the desire to raise the rate is clear, I do not judge.
The problem is correctly identified — decentralization by itself does not provide benefits. Rather, it creates confusion and vacillation, which is exactly what we see.
The question is how to get a normal development strategy out of this. The consolidated method, of course, will give results, and even relatively quickly, which will allow almost everyone to recoup the costs — initials, investors, developers, those who have invested in crystals, etc.
But this will require a change of concept. And that’s where you have to think and negotiate.
Who’s in Dubai? There’s a crystal falling off the logo!
It’s a subtle hint of rebranding.
Free TON on October 13 — “Not Available”
While discussions on the Free TON update were going on, the blockchain rebooted on its own: the Free TON network stopped working for several hours due to a malfunction of the European Internet Service Provider. Validators that used its services could not take part in the work, while others continued to exchange data. In this situation, it was important for working validators not to stop.
DON’T TURN OFF THE VALIDATORS ON THE MAINNET UNDER ANY CIRCUMSTANCES.
After a while, the Free TON network was restored, and the block generation continued.
ASIC vs Pump and Dump
The Australian Securities and Investments Commission (ASIC) is fighting against one of the market manipulation strategies — Pump and Dump — with all kinds of methods. For example, this week ASIC posted their message on one of the suspicious Telegram groups:
Coordinated pumping of shares for profits can be illegal. We can see all trades and have access to trader identities. […] You run the risk of a criminal record, including fines of more than $1 million and prison time.
In the case of Pump and Dump, traders first buy some cryptocurrency in small quantities. At the same time, they launch a marketing campaign to increase interest in this cryptocurrency. Interested parties then sell it at a higher rate. As a result, the price of tokens falls, but traders manage to make money on the hype wave.
ASICs by their actions warn members of such groups that they can be given advice for the purpose of manipulation and their own benefit.
Binance Exchange — Partner of Lazio Football Club
Binance executives are looking to bring new users to the platform. This time they are targeting football fans.
Binance sponsored the Italian club Lazio and is now skimming the cream off the collaboration.
First, the players now have their brand name on their shirts.
The new SS Lazio kit is set to be a beauty: Have you seen their latest sponsor?
Second, the platform created gaming tokens LAZIO, on which exchange owners can make good money.
The high-speed NEAR blockchain is celebrating its first anniversary this week since launching the network, as they shared on Twitter:
Today is The Day of the one year anniversary since #NEAR launched its mainnet.
Discover and celebrate NEAR’s ecosystem, the numbers are showing the results of such work 📈
Join us at NEARCON!
The crypto industry is always moving fast — but TheSlowPatrol urges you to slow things down a bit with their sloth-based NFT project!.
The NFT card game Cryptoloteriamx, inspired by the Mexican lottery, will be launched at Polygon.
Before the Cryptoloteriamx launch, the blockchain showed an image of several cards on its Twitter.
The upcoming #NFT collectible card game @cryptoloteriamx is based on the historical Mexican game, “La Loteria”.
To celebrate #HispanicHeritageMonth we wanted to showcase some of these cards that you can collect in this game coming to #Polygon.