Finally, a project owner has risen up! Zerebro's co-founders publicly revealed some of the disputes they've had with exchanges listing their tokens and market makers: Binance wants $1 million in cash, Kraken wants $100,000-200,000 plus tokens, Bybit wants $250,000 plus tokens, and Wintermute is outright demanding 10% of the supply.
These numbers are unusual. In my opinion, they are like a bombshell dropped into the crypto industry, revealing the truth behind the so-called "listing is the peak" in the cryptocurrency circle.
Of course, Zerebro itself is not a white lotus project. Jeffy had a farce of "faking his death". To be honest, my $ZEREBRO was also cut by 20,000 U.
However, I still think he should be supported when he speaks out this time:
Because he tore open the long-standing "tacit understanding" between VC project parties, exchanges, and market makers.
Why is this happening now? Everyone is familiar with the rules governing exchanges listing tokens and the operating methods of some market makers; they simply exist in various forms. Why, precisely now?
The 1011 black swan event can be called a "subprime mortgage crisis" in the crypto-circle dominated by exchanges, and the price of the currency that once dropped to zero also revealed a cruel fact: the liquidity of many altcoins has long been exhausted.
So, in essence, this is the critical point that the VC coin era is dead, and some altcoin projects have collapsed.
In addition, this time it was the exchange itself that messed up, and it also suffered the emotional backlash after the climax of life, which gave a number of VC coin project parties the opportunity to rise up and shout.
In fact, it is no wonder that when VC coins are launched with valuations of billions but lack corresponding liquidity and user support, every link in the interest chain of project parties, exchanges, and market makers is exploiting each other.
Exchanges need to maintain their proud image as the "chosen one", market makers need to obtain excess profits, and VCs need to exit and cash out. Ultimately, all costs are passed on to retail investors.
As the middleman, the project party has to bear the pressure from VCs (high valuation, quick listing), pay the sky-high fees of exchanges and market makers, and also face the doubts of retail investors and the plummeting price of the currency after the listing.
Under the pressure of these multiple conflicts, someone finally couldn't stand it anymore.
So, what is the deeper problem?
In fact, it is very simple. It is not a question of whether the listing fee is expensive or not. If the market is healthy, VC coins can afford it. It is not purely because the high FDV crash has hurt the hearts of retail investors. For several cycles, retail investors have been trying to survive in the huge "token dumping".
The key is the failure of the entire industry's pricing mechanism and value discovery function.
When listing a coin no longer focuses on project quality, user demand, or technological innovation, but instead on "how much money is given" and "how many coins are locked", the entire market becomes a pure money game.
Furthermore, exchanges have long since given up on "rigorously selecting projects" and are instead creating their own platforms and mass-producing projects. Well, the exchanges are thinking, since VC coins are using exchanges as an exit channel, why not just turn the tables and stop playing with them?
I think this is the truth behind the conflict between exchanges and VC coins.
The pessimistic thing is that I don't think this revelation will change anything. Because in the eyes of many people, it's just a dog-eat-dog drama, and there will be no immediate change.
But, but, but! At least the silence has been broken. I believe that more and more projects on the side of justice will realize that they can stand up and make a cry against this "dirty game" and "distorted rights rules"!
