The crypto world experiences its fair share of volatility. Based on decentralization, the lack of regulation allows projects to thrive and fail at unheard of rates. The low barrier to entry allows almost anyone to create a token and promote it within the crypto space. This has the potential to create skewed perceptions of what success is, whether it be from inflated statistics, token burning to drive up the price, a huge influencer push, or real organic growth. It’s hard to tell and because of those unknowns, it’s time for crypto investors to vocalize their issues and be heard by developers. Detreum $DTN understands this and created a community piloted token driven by transparency and community inclusion.
What exactly are the major issues crypto investors have toward DeFi? The major one is mistrust with developers. Projects create a website, draft a whitepaper, create marketing plans, register a contract address, and then launch a presale, with promises to provide high yield, donate to charity, airdrops, and other substantial rewards, only to not deliver. Random tokens promising a bright future on various blockchains have slighted investors too many times, only for them to disappear the moment they make a fast profit or pull out because of the overwhelming nature of token creation. I’ve bet you heard of major exploits and even high-profile rugs. It’s a disheartening and cowardly. Yes, there are disclaimers out there, like “do your own research” or “not financial advice,” but that doesn’t hurt investors any less. People are already risking their money in a volatile market, why should they deal with scammers?
Another issue crypto investors have toward DeFi is the lack of developer and team communication with investors so improvements to existing tokenomics and procedures can be made. Take a fake project, BlueMonkeyHat $BMONKHAT. Say they launched a token. Implementation was rocky. From trading issues to listing delays to even a drastic drop in value, BlueMonkeyHat took action without addressing the community and burned tokens, then took a large percent of the profit to pay for something different than what their Roadmap and Whitepaper detailed. Investors weren’t happy. They voiced their concerns, but nothing changed. They were blocked or muted in chat groups, or told it would get better in the future. Overall, just a poor way to handle a token launch.
If we look at what BlueMonkeyHat could have improved upon, there’s a ton. From simply addressing the community as soon as they were alerted of trading issues or listing delays, things may not have gotten so bad. They also implemented solutions not listed in their documentation. Again, there’s always risk to investors and often disclaimers that developers have the final say, but following through on promises builds credibility in the volatile crypto world. No wonder the mistrust due to lack of communication.
What’s the Solution? Perhaps Detreum $DTN with their community piloted token.
Community Piloted Tokens
A Community Piloted Token (CPT) is “a token that aims to give a community the power and input to solve real-world issues with crypto.” Instead of decisions being driven by developers, the power shifts to the community where solutions, made via polling or popular input, can address modern issues “to better the future of a project’s projected outcome.” Essentially all those issues with BlueMonkeyHat would be addressed and feedback from the community would be valued and implemented.
The purpose of CPTs is “to solve decentralized cryptos high volatility and inflation in a community-based environment and involve a diverse group of crypto holders all over the world focusing on the future of decentralized networks.” As an investor, having input count is extremely attractive. In the saturated crypto world, we all know how rare it is to find a strong community that takes investors’ opinions into account.
How Does Detreum Plan to Change the Crypto Landscape?
Detreum $DTN is a community piloted decentralized finance token. Its purpose “is to create a safe progressive deflationary token for transactions on Binance Smart Chain through community debates, voting, and popular input with developer and team guidance.” Power is given to the community so they can determine the future of the investment they hold. Detreum developers recognize they don’t know everything. With the bright knowledge of the community, the entire project will be improved and both developer and investor can benefit.
It’s true that the crypto world is experiencing concerns with decentralization. So many projects are rugging or disappearing because the developers get greedy or they lack the knowledge to continue on. These projects don’t involve their community or try to solve real-world issues. Detreum is focused on involving their community with their community piloted token. I find that incredibly promising in the cryptocurrency ecosystem. It’s common sense tokenomics and a suitable business model. Of course, at the end of day, developers want to make profit, but why not do that with your community? My advice, check out Detreum.