“Should Have Bought” is a news podcast featuring the ForkLog editorial team and friends, discussing the week’s major industry events and the hottest tokens.
Topics of the episode include: the peculiar airdrop by LayerZero, the SEC’s retreat, the importance of DYOR, and dubious “clickers.”
Special guest: Michael Jerlis, CEO and founder of EMCD.
Participants: ForkLog authors Lena Jess, Alex K., Vasily Smirnov.
Compulsory Donations
LayerZero Foundation conducted an airdrop of ZRO tokens to 1.28 million wallets starting June 20.
Early transactions received triple the tokens, while operations after the snapshot earned an additional 10 ZRO. The distribution for “free” transfers was cut by 80%. Efforts to combat drop hunters reclaimed nearly 10 million tokens, though “sybils” could not be entirely excluded.
Claiming required a $0.1 donation per token via Proof-of-Donation. The initiative sparked mixed reactions. For instance, banteg from Yearn.Finance likened it to “glorified ICOs.”
Has the SEC Relented?
The U.S. Securities and Exchange Commission (SEC) closed its investigation into Ethereum 2.0 following a request from ConsenSys for asset class clarification.
The infrastructure company stated that “Ethereum has survived the SEC” — the regulator will not consider ETH sales as securities transactions.
However, ConsenSys intends to continue legal proceedings with the Commission. Founder Joseph Lubin noted that the company seeks greater regulatory clarity for cryptocurrencies.
Rethinking Clickers
The Notcoin project will abandon the clicker game concept, shifting towards creating a platform for ecosystem projects. Users will be able to earn NOT tokens through participation in an “AI university” and competitions. Notcoin plans to launch up to 100 campaigns weekly to boost engagement.
Experts compared clicker mechanics to Ponzi schemes, where early players gain more benefits. The ease of earning tokens raises concerns about hyperinflation and devaluation. Developers are advised to implement balanced tokenomics and token-burning mechanisms.
What is DYOR?
DYOR (Do Your Own Research) is a fundamentally important approach for market participants, involving independent and thorough investigation of investment objects.
In a highly volatile environment with numerous unsustainable projects, understanding fundamental aspects such as tokenomics, market capitalization, trading volume, team, and roadmap helps mitigate risks and make informed decisions.
The use of financial and on-chain metrics, as well as analysis of the white paper and project partnerships, are key elements of DYOR.
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