Solana co-founder wants a fair launch for 'Trump Corruption' coin
Anatoly "Toly" Yakovenko, a co-founder of Solana, has commented on California Governor Gavin Newsom's parody proposal to create “Trump Corruption Coin,” calling for the governor to use a fair launch protocol should he continue with his proposal.
In a post on X, on September 3, Yakovenko said:
"LFG @GavinNewsom. Please use a fair launch protocol. There are tons of options available. @metaplex, a California native company, has an excellent option. (@gavelxyz and @MeteoraAG have options as well)."
He then followed up and tagged another dev proposing that they use a Dutch auction model for celebrity tokens to continue his initiative of fair and transparent launches of tokens – even of parodies.
What's a dutch auction?
Dutch auctions start high and drop until buyers bid. In crypto token launches, the issuer sets a maximum price that decreases until all tokens are sold or a minimum price is reached.
The model ensures fairer distribution, prevents bots and insiders from buying tokens early, and lets the market set the price.
For Newsom's satirical memecoin, Yakovenko offered this model to avoid chaos and favoritism.
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Newsom's political parody
As reported earlier, Newsom introduced the token on Pivot as part of his Campaign for Democracy initiative when adequate funding for voter outreach and redistricting became increasingly hard to come by.
Newsom emphasized that this coin would not be some sort of vanity project using his name, but a way to strike back at Trump's "grifters' playbook" in crypto.
He said, “This is just jaw-dropping. And none of this is normal. Again, none of this is funny.
Yakovenko's public relations efforts show the extent to which deliberations about crypto infrastructure attack vectors have become part of political theater.
Related: What are meme coins? Explained
While Newsom's plan is in the realm of parody for now, Solana's founder used this opportunity to tip the hat to best practices in token issuance - showcasing that even joking about tokens can impact the more significant discussion about equity, transparency, and adoption that we are all likely interested in.
FAQs
Q. What is Trump Corruption Coin?
A: Governor Gavin Newsom of California teased a satirical cryptocurrency on a podcast. He wants to fight with Trump's crypto fortune.
Q: Why did Newsom propose it?
A: According to Newsom, the idea was intended to mock President Donald Trump's cryptocurrency ventures, calling him one of the great "grifters of our time."
Q: Why did Newsom propose it?
A: According to Newsom, the idea was intended to mock President Donald Trump's cryptocurrency ventures, calling him one of the great "grifters of our time."