CryptoNakal: A REVIEW OF MOONCONNECT FAIR TOKEN DISTRIBUTION MODEL FOR OPTIMAL DECENTRALIZATION

INTRODUCTION

Non-custodial management and security are some of the most important components of decentralized Finance (DeFi). However, the challenge of unequal distribution is proving to be a major threat. This is further triggered by the issue of controlled governance within the DeFi domain and this challenge extends to several projects. This is due to the inequality in the distribution of tokens which often causes a skew. Top DeFi projects like ChainLink, AAVE, Compound, etc have over 85% of their total supply being held by a few addresses. Given the extent of imbalance, the question of what decentralization really stands for comes to play. The challenge of plutocracy is not a new phenomenon within the crypto domain as it can be traced back to the early days of Bitcoin and even Ethereum where unequal distribution has become a norm.

IMPACT VALUE

Of recent, most crypto projects are more focused on the sale of their tokens rather than on the tokens themselves or the distribution mechanism. This has further fuelled an already existing challenge of uneven distribution. Tokens are the fuelling power of decentralized networks thus requires more attention. At MoonConnect, a much more powerful token model has been designed to ensure that there is a balance in the system. The $MCONN token will be utilized towards building a powerful dynamics for the platform and also enabling new functionalities. The distribution mechanism of MoonConnect will create an avenue for for development of the platform and also the entire defi ecosystem. Many people will also be brought on board with this model. The common goal of reducing the influence of whales in the market will also be met. The ecosystem is best served when the total supply of the token is held by as many people as possible and the target has been pegged at 5 million holders. Multiple holders of the $MCONN token will create more value and sustainability of price to the network than just a few holding majority of the token.

As part of its founding principles, MoonConnect will ensure that it maximizes the number of tokens that is being held. They have introduced a more fair and decentralized token distribution model and one that will accelerate the success of the platform and make it a standout among other defi projects. This will be achieved by its collective distribution mechanism that distributes about 80% of the total circulating supply to a targeted 5 million holders who will strengthen the project exponentially. Stability of price is also another aspect that MoonConnect is working towards. Mechanisms have already been put in place to consolidate any change in price. The by pass of whales in the system may prove to be very significant on the long run.

REFLECTION MECHANISM

The reflection mechanism concept within crypto has been made popular by Safemoon. It is a concept in which for every transaction, a certain percentage is distributed back to holders. This model helps to promote long term HODL and also encourage holders to hold onto their tokens so as to enjoy the accruing taxes on transactions.

MoonConnect has a fixed total supply of 1 quadrillion in circulation, however,about 30% of the supply will burnt when it is launched by sending it to a dead wallet. More of the total circulating supply will also be burnt as time goes on due to its reflection model. This presents MoonConnect as a safe investment option. Also, 100% of the LP will be locked automatically. The continuous shrinking of the total supply will ensure that the token will continue to appreciate in value overtime.

FOR MORE INFORMATION ABOUT MOONCONNECT

WEBSITE: https://moonconnect.net/

REDDIT: https://www.reddit.com/r/moonconnectNET

GITHUB: https://github.com/Moonconnect

WHITEPAPER: https://moonconnect.net/whitepaper.pdf

MEDIUM: https://medium.com/moonconnectNET

TELEGRAM: https://t.me/moonconnectNET

TWITTER: https://twitter.com/MoonconnectNET

FACEBOOK: https://www.facebook.com/moonconnectNET

INSTAGRAM: https://www.instagram.com/moonconnectNET

Author : Geni tamara

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