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The preset cryptocurrencies are tokens that should not be extracted from the blockchain. The concept is a little more complicated than this, but ultimately, for the purposes of this article it is as much as you need to know.
A fund indexed by Morgan Creek Capital Management has been established, and now, any cryptos with more than 30% of premine have been excluded from the fund because of the potential problems that this could cause. This therefore includes cryptocurrencies such as Ripple XRP, Tron's TRX, Stellars XLM and Neo & # 39; s, NEO.
According to Cryptobriefing:
"Morgan Creek Capital Management has more than $ 1.5 billion of assets, so its Digital Asset Management Fund is significant, as is the decision to exclude any cryptocurrency with more than one premine of 30 This is bad news for Ripple, who essentially pushed all the 100 billion XRP tokens.This is a problem for Morgan River. "
Likewise:
" Tron has adopted the same approach and awarded 100 billions of TRX coins It is said that the founder and CEO Justin Sun contains billions of coins.At the beginning, NEO has issued 100 million tokens and there will be no mining process, which is a simpler version of the same problem as for the digital index fund. "
Why are preminato coins a problem?
Simply put, with so many "tokens" in circulation from these projects, it can cause serious exchange problems when they are listed, causing huge price changes and altering markets. It is this 'manipulation'. which can be avoided by simply excluding these pre-eminent projects. In addition, the risk increases when one observes the degree of control that investors have on these types of coins compared to potential pump and dump schemes. According to Cryptobriefing:
"It does not take a huge leap of logic to see that 62 billion XRP or TRX coins that affect trade could massacre the price." While it might seem counterproductive for a company to sabotage its product, it could If the currencies are at historic highs and the main holders simply want to cash out, this could have a real impact on the price and progress of the currency.This type of landfill could also come from outside. Morgan Creek clearly exceeds any potential reward. "
Is this a problem for these tokens?
Potentially, even if the problem is only very limited. XRP and co will not allow themselves to escape too much from this, adding another hump on the road to these types of cryptographic projects, projects that often encounter difficulties when it comes to being recognized by larger institutions and funds focused on finance.
