Binance just lately executed its Frontier (FRONT) token swap and rebranding to Self Chain (SLF), sparking important criticism from the crypto group.
The discussions middle on the quadrupling of the entire token provide from 90 million to 360 million tokens. Regardless of this important enhance, Binance maintained the conversion price of 1 FRONT to 1 SLF, elevating issues about dilution of present customers’ holdings.
In reality, the reactions listed here are extra in the direction of the FRONT builders, not Binance, as Binance mainly solely modified the identify of this altcoin, the token was already listed on the trade.
Critics argue that this transfer reduces the worth of customers’ belongings by 75% in comparison with the brand new whole provide. The sudden enhance in token provide with no corresponding adjustment within the swap price has left many traders feeling underinvested, because the FRONT tokens they beforehand held now signify a smaller portion of the general market worth.
In gentle of the developments, the Self Chain (SLF) value recorded a double-digit drop immediately.
*This isn’t funding recommendation.
