CandleFocus VanEck portfolio manager says crypto projects should emulate key memecoin traits
2024-10-09
Author: Content Editor
VanEck portfolio manager Pranav Kanade believes that teams building in the crypto space should mimic certain aspects of memecoins. Kanade highlights that memecoins have a clear product-market fit with retail, with simplicity being the first reason behind their success. He also emphasizes the importance of reducing the amount of locked tokens allocated to early investors, as this can hinder growth and lead to profit dumps. Memecoins typically have their entire circulating supply unlocked from the start, which Kanade suggests as a "high float" model. He also encourages projects to adopt a "hyper-transparency" approach by revealing the cost basis of token purchases by VC funds.
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