A year of TikTok memes, cat photos and… crypto tokenomics 101? The Mocaverse x Cool Cats crossover is without a doubt the most exciting collab, bringing a whole new level of feline fun to Mocaverse and the Web3 space. We think this requirement to hold 88 $MOCA tokens in order to enter the giveaway is a brilliant marketing move to engage potential users. Or, does it instead forge an elite border maker that shuts out the very people we ought to be welcoming warmly? I'm concerned it leans towards the latter.
Tokenomics: Pump or Sustainable Growth?
Let's talk $MOCA. And at the core, it’s not the digital cats, it’s the mechanics. Overall supply, distribution, and how the token is actually used are very important. Is this giveaway just a ploy to get more people to show up for community engagement? Or is this merely a ruse to inflate short-term prices? The article raises the specter of “scalping opportunities” and “price surges,” both of which are very real concerns. That sends a shiver down my spine. That’s beginning to sound less like creating a healthy and sustainable ecosystem and more like inducing a total feeding frenzy. And who benefits most from feeding frenzies? Usually, it's not the little guys.
Think about it. If giveaway eligibility becomes the main driver of value for $MOCA, what will happen after the giveaway? Is it going to fall off a cliff in terms of cost? This might leave anyone who purchased solely for a shot at winning an NFT holding the bag. This is not to say that you should oppose the project from the get-go, but rather to encourage responsible engagement and involvement. Caveat emptor, as they say.
$88: A Web3 Class Divide?
The purported goal of Web3 Yet, the supposed aim of Web3 has been said to be creating inclusivity and democratizing finance. By requiring 88 $MOCA to participate you’re creating a huge barrier to entry. As of this writing, that sum equals about $88. For many, $88 is a significant amount of money. For most first-time users in crypto and those with less disposable income, it’s still a fair bit of cash.
Consider this: the average initial crypto investment for a retail investor is often much lower than $88. By setting this as a minimum threshold, Mocaverse has intentionally now shut out the vast majority of its potential community. Is this really the “community” we’d like to be a part of? One which provides access only based on the ability to pay? It sure doesn’t feel like the decentralized utopia. Rather, it looks like a massive gated community that only admits those who can demonstrate a high degree of wealth.
This isn’t only about the dollars at stake, it’s about the principle of the thing. More importantly, it’s about the signal it sends to those who are early in their Web3 journey. Or are we communicating the opposite – that their participation is not guaranteed, that some participants are more equal than others. That’s not the future I want to be a part of.
Manipulation: Whales Swimming in $MOCA?
The risk of market manipulation is a very real concern. With a relatively low barrier to entry, it's conceivable that large holders (whales) could manipulate the price of $MOCA to their advantage. Fast forward to whales accumulating millions of $MOCA before the announcement. They collectively plan their purchase to inflate price, participate in the airdrop, and then eventually sell their assets, profiting off the manipulated increase.
This isn't just hypothetical. We’ve watched all too clearly as the same pattern has played out with other crypto projects. In the absence of strong safeguards against market manipulation, retail investors are at risk of being taken advantage of. On-chain data though, including wallet activity, Imperial token transfers, will be especially important to keep an eye on in the next few days. If there is a rapid increase with whaling just before a dump, that’s a warning sign.
Yat Siu buying 15 NFTs makes a statement of confidence, but it creates an imbalance of power. The Web3 promise is distributed power, not reproducing centralized hierarchies behind a new interface.
A Better Way: Inclusive Alternatives
There are other giveaway mechanisms that are much more inclusive and equitable. Instead, think about a lottery system, where anyone can submit their entry, whether they hold $MOCA tokens or not. Or a talent-based competition that incentivizes innovation and public involvement. Or maybe a tiered participation system where participation (e.g., social media shares, generating content) gets you entries into a raffle.
These strategies would encourage true community engagement, instead of just rewarding those who commit to buying a token. They would align more closely with the values of Web3: inclusivity, decentralization, and equal opportunity.
Libertarian Lens: Freedom or Control?
As a libertarian, I’m naturally suspicious of highly centralized control, even in decentralized networks. This $MOCA requirement, while sounding innocent enough, reveals some unsettling truths about where the power lies within the Mocaverse ecosystem. Or does it, without meaning to, provide outsized power to those that can place more capital? Or does it end up creating the dynamic where more money means the rich get to dictate more of the overall direction of the project.
Real decentralization requires a fair playing field. It levels the playing field so that all voices can be heard, regardless of who has the most money. To me, this $MOCA requirement just further enriches the wealthy. This violates not only the shared ideal of individual freedom, but the ideal of equal opportunity as fair equality of outcomes. It’s a subtle form of gatekeeping.
The Verdict: Proceed With Caution
The Mocaverse x Cool Cats partnership is super cool and the possibilities for community-building are definitely there. The $MOCA requirement is problematic on many fronts related to inclusivity, market manipulation, and power dynamics. While we appreciate the thoughtful motivation behind the giveaway, it’s important to think through unintended consequences.
We strongly encourage every person to deeply consider whether they want to enter the giveaway and, if so, how they want to engage in it. I urge everyone to proceed with caution, to do their own research, and to think critically about the potential downsides of such mechanisms. Join us in bringing about a more inclusive, equitable, and opportunity-rich Web3 ecosystem. We’re committed to ensuring that all those interested have the chance to participate, regardless of their ability to pay. After all, a community founded on authentic interaction is infinitely more precious than one formed on artificial lack.
