Original Title: "Why I Choose Binance Alpha - A Path for Cryptocurrency to Enter Reality"
Original Author: Chari.eth, Founder of TaleX
Editor's Note: Chari.eth is a long-time Web2 internet entrepreneur who founded TaleX Protocol in 2022, a decentralized retail platform driven by token incentives for content and physical goods. The following is the original content:
"If you are not aiming to list on Binance Spot, why would you go for Binance Alpha?"
"If you haven't listed on Bybit or Bitget, why would you go for Binance Alpha?"
The market makers directly rejected me with these two questions.
They believe that Binance Alpha is just a matter of reputation, and the essence of DEX makes it not very convenient for selling. Moreover, Binance requires a significant amount of airdrops for users.
You either need to coordinate with other major CEXs for selling, or you need to take a gamble on Binance Spot; that reputation and the airdrops for users are what hold value.
Because I never intended to sell at the time of TGE.
I just needed a place to distinguish our tokens from thousands of similarly named tokens and to allow users to trade conveniently through CEX.
Think about it, if you invented Bitcoin back in the day, wouldn't this be exactly what you needed?
From this perspective, Binance Alpha perfectly meets my requirements.
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The business model in the crypto space requires immediate use of tokens.
So, how to enable users to conveniently trade these tokens becomes very meaningful.
For example, Bitcoin, whether for mining users, transfer users, or investment users. After the genesis block was mined, these demands naturally emerged. Exchanges were born out of this demand.
Conversely, if a business can be established without the participation of tokens, I don't see why it needs to issue tokens. Is it just to make money from selling?
The traditional approach of raising funds/making data/and finally listing to exit is merely a simple replication of the equity era; the manipulators are just engaging in regulatory arbitrage.
I have neither the ability nor the interest to interfere with how others do it. But I have no interest in following.
During the time I was contemplating listing tokens, an investor asked me, if you can't make money from selling, why list tokens?
I said it's for the business. The business requires token participation, and listing can activate the cycle of "business growth - token appreciation - attracting more business growth."
He asked, which companies have seen rapid business growth after listing tokens? For example, XXXX, did listing help them?
I said that's because their business and tokens are disconnected. The business doesn't need tokens, nor does it need exchanges. Business is business, and speculation is speculation.
We don't need to look at those failed cases. We can look at BTC, ETH, BNB…
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Our Tokenomics can be summarized in one sentence:
Consumption Mining: Earn tokens by spending.
Attracting user consumption is the only reason for a business to exist. Rewarding user consumption is the best annotation for "users first." This is a unique technology of the crypto era and the spiritual source of my entrepreneurial journey in crypto.
We will make our income transparent on-chain. We will put the company's reserve cash and all business gross profits into the liquidity pool in the form of LP.
The liquidity pool is the treasury, and the treasury is the liquidity pool.
Then, based on the order of user consumption, the amount spent, we will reward users with tokens in real-time.
Users can use tokens to consume in our products at any time (with special discounts), and the actual expenditure will be borne by the treasury (liquidity pool).
All costs of the project team will be paid through redeeming LP tokens in the liquidity pool.
We will regularly issue announcements to inform about the injection or withdrawal of LP tokens. All operations will also be fully transparent on-chain.
If you agree, continue to hold. If dissatisfied, token holders can choose to sell at any time.
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This plan is what we currently consider the best Tokenomics.
But due to cognitive limitations.
We couldn't implement this when we started our entrepreneurship three years ago—to issue tokens immediately and add all fundraising amounts to the liquidity pool. So that everyone could clearly and transparently see our financial status and choose to exit at any time.
Now, the treasury amount is not only less than our fundraising amount (because the income over the past three years has been less than our expenditure), but investors' shares are also forced to be locked.
Compared to today's new investors in DEX, our VC investors have suffered significant losses.
We feel very ashamed and sorry.
But everyone still has hope. There is also a possibility of being forced to win.
In the near future, we will launch new products to meet users' real needs, gain user recognition, and generate income.
And we will continue to do so.
I miss the days when a product would launch, and the token would launch simultaneously.
I like CZ's plan. Low total price for listing, doubling to unlock.
I like Binance Alpha.
I like Crypto.
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