Fair launch or nah?
The concept of a fair launch was invented in 2009 with the launch of Bitcoin. Before that, there was nothing else in history that quite resembled it. War and the resulting distribution of territory is pretty close, but land isn't inflationary. Plus mining tokens doesn't result in bloodshed.
Since then, most crypto projects choose to launch with a token sale, usually allocating some percent of the token to the team, VCs, etc.
Because koinos was fair launched, the team behind it offer a unique perspective:
You cannot support the free market and token sales. Allocations, even if used for the "public good" such as grants, demonstrate a lack of trust in the free market to efficiently allocate scare resources.
— vandeberg.koin🔮 (@KoinosVandeberg) August 18, 2023
Michael Vandeberg is one of the Koinos Group co-founders (and my personal friend). If you're not already, follow @KoinosVandeberg on X!
The point here is very interesting to me. I generally agree with Michael, but I don't think allocations are always bad. We will be allocating tokens for KAP, after all.
I do believe in the free market's power, but I'm still going to take an allocation. Allocations are just one way to raise funding for specific purpose.
Fair launches are excellent for ensuring a fair and efficient distribution of tokens. That's the free market at work.
The question is whether that's what you want to optimize for with your token launch.
-Luke
P.S. to do a fair launch requires using up front capital to buy the token you created. That takes faith and capital.