Great reminder @Slickvoicey !
This is the basis behind Binance Lunc Recovery Plan!
The difference is Vitalik was given 425T Shiba (50 percent of supply) out of nowhere while Binance mass accumulated 6T LUNC (90 percent of the supply) between 5/12/22 - 8/23/22.
How do I know these specifics? I watched it happen in real time. Go through my tweets back then and see for yourself.
$lunc
#GreenpeaceUNITED
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Quick Reminder
Vitalik Buterin Burned 425 TRILLION ShibaInu Tokens At Once. Back in 2021, Vitalik received a massive amount of $SHIB tokens unexpectedly...
Then he shocked the crypto world
Around 425 TRILLION SHIB were permanently burned.
$LUNC
#LUNC https://t.co/WflfpjOpaT
Michael Gayed wipes out $1 Shiba Inu (SHIB) dream with one brutal reply $SHIB https://t.co/girizsqakw
You hate meme coin taxes, right? Every time the actual profit differs from the expected, that's the tax, “the dog project team taxes and cuts the leeks”, I often complain 😂
But the meme coins we have made money from are most likely taxed.
Look back: What does SHIB use for its burns? Where does BONK's community activity budget come from? Why did those meme projects we profited from survive the first week instead of spiraling down 🤔
Because they have operating budgets. After the first wave they can still afford promotion, creating those boring image creations & music events. It is precisely these music and catchy memes -> that enrich the narrative -> make the concept go viral, get retweeted -> and push the coin price up.
What do meme coins without a budget look like? On the fourmeme battle trench, tens of thousands appear daily—you can see for yourself — 99% don’t survive past 48 hours. It’s not that the narrative fails; aside from the marketplace phase, most project teams are empty‑handed after the launch: want to build? Find KOLs to promote? Organize a community event with prizes? Host a meme contest for traffic? No money, nothing can be done 😮💨
The most awkward thing about meme projects is: issuing a token seems zero cost, but staying alive costs money. Where does the money come from? Operations are crucial, and taxes are crucial as well.
🎩 https://t.co/nLYQTltVVQ Just added two features:
1️⃣ Custom tax fees: project teams can design their own transaction tax rules. A tool for scamming? NO! Think of it another way: if DOGE had a 0.5% transaction tax automatically routed to a community treasury back then, its ecosystem development might be ten times stronger today.
Not all taxes are malicious. The key is what the project does with the tax, how much it takes, whether the rules are transparent, and where the treasury goes. Previously, every project used the same template—those who wanted to tax couldn’t, and those who didn’t need to could not choose; that was the market. But now things have changed; https://t.co/nLYQTltVVQ gives the choice to the project teams.
2️⃣ Internal market tax: Even before a token is listed on external exchanges, a tax can be set. It means the project has an operating budget from day one, without waiting to be listed on a DEX to figure out how to make money.
👀 If you ask me, how does a junior P think about this?
I think taxes aren't necessarily bad; like contracts, they are just tools. Tools aren't good or bad; it depends on who uses them and how they are used.
In the future, when you see meme coins on https://t.co/nLYQTltVVQ, besides the narrative and market‑cap hype, also pay attention to how thoughtfully their tax settings are configured.
Tax rate, whether the tax allocation is public, and if there’s a lock‑up period—this information is far more useful than how many tweets the project posts ⚠️
Transparent tax projects ≠ good projects
But projects without any operating budget are most likely a pump‑and‑dump—launch and run away 🤷
@fourdotmemezh
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