Binance not too long ago executed its Frontier (FRONT) token swap and rebranding to Self Chain (SLF), sparking vital criticism from the crypto group.
The discussions middle on the quadrupling of the full token provide from 90 million to 360 million tokens. Regardless of this vital improve, Binance maintained the conversion charge of 1 FRONT to 1 SLF, elevating considerations about dilution of present customers’ holdings.
Actually, the reactions listed here are extra in the direction of the FRONT builders, not Binance, as Binance principally solely modified the identify of this altcoin, the token was already listed on the alternate.
Critics argue that this transfer reduces the worth of customers’ belongings by 75% in comparison with the brand new whole provide. The sudden improve in token provide with no corresponding adjustment within the swap charge has left many buyers feeling underinvested, because the FRONT tokens they beforehand held now characterize a smaller portion of the general market worth.
In mild of the developments, the Self Chain (SLF) value recorded a double-digit drop as we speak.
*This isn’t funding recommendation.