Po also tweeted about Based a little while ago.
Low Float: Insiders control the supply, making the chart look like it's "going up."
(These days, they don't even do that, so it just drops immediately after launch.)
High FDV: Those who buy TGE are essentially "liquidity that makes the launch look successful."
Airdrop participants aren't lacking in contributions, but rather are designed to prevent them from having meaningful stakes from the start.
The reason this continues to be used is simple:
It's convenient.
And frankly,
most projects don't have any real users.
If 95% of the activity is insiders circulating money,
"community" becomes just a marketing term.
They airdrop 0.5% or 1%,
and call it "decentralization,"
and then when people leave, they say, "That's just the way it is."
I've even heard this myself. "Once the airdrop is over, the community will leave anyway. So, it's right to give less."
Other projects might do that.
But I can't cross this line.
We can't ask people to "trust us,"
while designing the launch so they "don't trust us."
However, we oppose this type of success.
A structure where success is achieved at someone else's expense.
• Launches that create the illusion of "up only" through supply control.
• Treating initial trust like a "checklist."
• Hiding the intended decision under the pretext of "market conditions."
• Claiming community is important, but giving out meager rewards because it's common practice.
Community isn't a concept; it's people. • Those who stayed despite uncertainty and delays
• Those who traded even when it wasn't trendy
• Those who gave feedback when it would have been easier to leave
• Those who publicly championed Based and took social risks
(Special thanks to L, Leo, Whalet, and John)
• Those who invested time, money, and emotional energy to build things around us
This isn't just a cost.
It's the "cost" of trust.
You can't look at someone like that and say, "Let's give less because it's market practice."
That's not a strategy; it's a betrayal in fancy terms.
That's why I'm proud.
The fact that BASED maintains over 10,000 monthly active users, despite not having a points program and
even during one of the worst bear markets in recent memory.
This shows that we have a community that truly believes in us and stays.
You trusted us,
and so we trust you.
Our Bet
Industry people say:
"The team is leaving too much money on the table."
"That's a crazy choice."
It doesn't matter.
We are confident.
This design is the most powerful reward structure for early and loyal users.
What we can promise:
We can't promise 25x returns.
We can't promise perfect timing or market cooperation.
But we can promise this:
• We won't make the BASED launch a trap.
• We won't use you as exit liquidity.
• We won't hide behind "market conditions."
• We won't create a structure where those who supported the product get the least.
If BASED wins,
it must win with those who built it together.
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