How $OKLG can set the standard in crypto coins & contract creation
The way I see it. People creating crypto coins and setting up contracts vying for the attention and money of investors is a bit like selling cars.
Currently in 2021 crypto is at the stage car selling was years and years ago. Dodgy car salesmen trying to flog an old banger.
Line up line up, come give us your crypto money.
Most crypto coins follow this formula.
1: Set up a URL
2: Create a quick one page website
3: Create a roadmap.
- Coingecko listing
- Coinmarket cap listing
- Holder count target
- Create a branded dex / “swap website”.
- Release an NFT collection.
- Aim for binance listing
4: Lock liquidity for 30 days at the most. Only if the coin gains traction.
5: Never dox who the dev is.
6: Copy and paste an existing crypto contract.
7: Spam the hell out of twitter, with their crypto tag.
8: Promise their coin will change the world.
9: 1 Month later the coin will be slow rugged. The developer will stealthily take all profits on their coin.
10: Pay twitter people to shill a coin. Which pumps and dumps.
11: Promise dextools trending for 30 minutes, by paying for it somehow.
The majority of coins which get released are extremely risky. It would be nonsensical to invest in them if you knew the truth behind them. Unfortunately people do not research coins before entering them.
Yes, they are dodgy people trying to flog old crypto bangers.
No quality control. No one setting the standard. Extremely risky for buyers.
There are never any targets about revenue or profit generation
The only thing anyone keeps track of on planet earth is how much money you are making.
Yet in crypto, for some reason projects don’t aim to hit actual revenue goals. From real sales created.
You know like a real business.
It is so strange crypto projects do not have any sales targets or profit goals. This is the single most important thing investors are looking for.
The Stock Exchange does this.
So why is crypto any different?
I believe $OKLG could create a real business, which generates real money for providing a truly needed service.
Carvana: A fantastic example of car sales
Now there are some superb companies like Carvana which provide an all inclusive package:
- 1 year warranty
- every car is fully serviced
- 180 point inspection carried out
- accident damage checked
- all documents provided with a vehicle
- delivered to your door
carvana is setting the standard with car sales.
The time has come for crypto to set the standard too
I think the time has come in crypto for the same standard setting to happen. Someone needs to take the lead and make sure every single crypto coin that is released is superb quality.
You cannot control the idea behind the coin itself. You cannot control the free market. People will always be able to buy and sell as they please. You cannot control the price a coin will eventually settle at.
But what you can control is the back-end of the coin. You can absolutely make sure if an investor does want to invest. They know nothing malicious will happen to them. They know they will be able to sell whenever they want. They know the developer will not pull all the liquidity within a day or two.
At OKLG I believe they have the expertise and ideas to make this happen too. OKLG needs to absolutely be setting the standard for safety and trust and be the go-to place for people to acquire a contract and start up their own crypto coin. Or to improve the coin they already have ownership of.
The reward system is a good start. A nice little feature. But it is still a tiny tiny portion of what the plan should be.
Certified Cars
Some large dealerships also sell their very best cars with the label of “certified cars”.
This is where the cars have had extra special treatment.
I see a gap in the market for something like this to exist in crypto.
Along with providing the back-end safety for investors. You could have “certified crypto projects”, which you put in a directory somewhere on a website.
These would be projects whereby you have done your due diligence on the project and people in question:
- Fully doxed developers. (Privately to OKLG or publicly)
- Showing the track record of the developers. So investors can tell if the developers have “been there, done that” before.
- Show the market caps of previous projects the developers have been involved with.
- Have confirmation that you think the project has legs. It is an idea that will go somewhere.
- This would all take much more leg work. But it is an idea.
The real business I would like $OKLG to turn into
I mean sure, what OKLG has released as of right now is fine. It’s an idea. A custom code. A custom contract.
But what the developers behind OKLG are missing is how difficult it was to create that code.
Their expertise, this piece of code is the single greatest asset they could possibly have.
It is extremely rare anyone will possess the skills required to create code this customisable and advance.
OKLG needs to take this opportunity and run with it.
Where there is a demand for skills. There is money.
From looking at the outside. Me included. It seems like OKLG want to stay in their really close knit community. Only focussing on helping other crypto projects through a buy-back or reward thing. However they could be much more than that. They could copy and paste their expertise and offer it to the entire world.
I don’t think OKLG quite understands how big their target market really is.
Let me explain….
Who is the REAL target market for OKLG?
Meet Dave — Someone who wants to start his own crypto coin.
Say hi Dave.
Dave has seen all the rave about crypto. And like a super entrepreneur he is, he wants to start his own crypto coin.
The problem: is that Dave hasn’t got a clue how to code. Or start a coin.
No solution exists for Dave: There is currently no way for Dave to easily create a coin.
Think of how many people there are in the world who may in the future need to create a coin of their own.
Think of how many crypto projects out there, which are using poorly written code of their own.
If Dave wanted to make a website. It’s easy.
He just heads to squarespace.
- Registers.
- Presses a few buttons.
- Uses a template.
- And the site is basically ready in 30 minutes.
If Dave wanted to code a website from scratch using Dreamweaver and HTML it would be impossible.
There is a significant opportunity to target people like Dave. Those who don’t have the expertise.
Or people who want to save weeks, or months of time on the setup of the crypto coin.
So they can focus on what’s more important. Actually building the business and marketing it.
Meet Yooshiba Inu — The most average, memest of meme coins
https://yooshibainu.io/main/home
This coin was setup by someone hoping to get in on the “meme coin” action.
They want some of that meme coin money.
Little do they know that they need to offer something special to get the attention of people.
They need to provide guarantees of “trust & safety”.
Yooshiba Inu does not really do any of these things.
There are thousands of Yooshiba Inu’s out there.
An opportunity exists for OKLG to make it easy for someone wishing to create a meme coin. But with the added layer of safety.
OKLG could be the person meme coin creators turn to, to get things shipped out quickly.
Here’s a final example of the target market, for a done for you coin creation product.
Meet Floki — They took advantage of a single tweet.
Within literally hours, someone had seen this Floki tweet and created an entire meme coin around the tweet.
Only someone with the computing brainpower of a literal God could comprehend doing this.
There was a problem though.
The Floki contract was flawed. It left thousands of people without any money at all.
Only thanks to Uniswap Detective coming in and splashing £500,000 of his own money was the project saved, and moved onto Floki V3.
Those thousands of people had their money saved.
The £1000 that someone invested back then. Due to a tweet. Would now be worth between £100,000 to £200,000.
Taking advantage of a tweet, or a meme like this requires speed.
There is a significant opportunity to create a product which allows anyone to set up a new crypto coin, based around a meme or tweet, extremely quickly.
Combined with the trust & safety, you will be onto a winner.
If $OKLG could implement this successfully they will be crowned King of the crypto castle.
What components would a “done for you” crypto service need?
Okay, we have the concept.
But what exactly would a “done for you” crypto contract / service need?
Which components would you need to put in place, so literally anyone can easily buy a contract and get started within seconds.
What services would need to be in place to make it a superb sell for people wishing to enter crypto?
Much like the inspection, warranty and servicing steps Carvana has…
I will now share with you my thoughts on the partnerships $OKLG should create in order to bring a product to the mass crypto market, which really embodies “trust & safety”.
These partnerships will be vital for OKLG to set the standard in contract creation and coin delivery.
Doxing Company — Similar to Assure Defi.
Or just use Assure Defi.
https://www.assuredefi.io/
Every contract OKLG releases, should make it compulsory that the developer does a full dox.
This would be the developer who wishes to “buy” the contract from OKLG.
Doxing should include:
- Full Name
- Identification
- Social Media Account
- Previous Crypto Projects Involved In
- Previous Market Caps of Crypto Projects
- Areas of Expertise, if any.
There can be two sides to this coin. Private and Public dox.
Assure Defi could handle the labour involved to handle the doxing process.
A deal could be made so they have a financial incentive to carry out the work, in relation to the new OKLG branded contract creation.
Much like a third-party car inspection company, carries out an inspection for a car dealer.
Quite often, the inspection company is willing to carry out the work for a “trade price” as they are getting lots of work from it.
Many times people also place value in a third-party company handling the work.
Working with Assure Defi, to create a custom public / private doxing process. Would be a complete game changer in the crypto space.
Liquidity Lock Company
The ideal partner would be the people dextools already use.
It would be far more difficult to get dextools to update their website, so they showcase other liquidity lock companies.
Why struggle?
Just try to do a deal with the people dextools link with.
Unicrypt
The first link which appears on dextools is Unicrypt.
This would be one option.
Unicrypt has the nicest layout I have seen.
I would make it mandatory that every single contract OKLG creates, uses Unicrypt to lock the liquidity.
Length of time for liquidity lock?
That would be down to the developer starting the coin.
Options should be given. (like a car warranty).
- 3 months
- 6 months
- 12 months
- Or go balls to the wall like $OKLG and set up a 3 years lock.
Mundra Manager
https://mudra.website/?certificate=yes&type=0&lp=0x6d1bd9731583191c76b5647736bb56540623e190
Is another option.
It depends on who is the best fit for OKLG.
Coinmarket Cap
OKLG should utilise the same contact inside CoinMarketCap.
Once a relationship is formed. Once CMC understand the objective of OKLG. The creation of certified crypto coins.
CMC will more than likely add those coins onto their website far quicker.
They will know all coins coming out from the OKLG brand will be world class in design.
OKLG should be able to get coins onto CMC, far faster than anyone else, once a reputation is built up.
OKLG would effectively be a big trade customer.
CoinGecko
As with CMC.
The same applies to coingecko.
Build the relationship.
Get coins onto their site faster.
Better customer support from CMC and CoinGecko as a result.
Due Diligence
Creating a pdf document, outlining all the due diligence and research you have carried out about the new developer and project should also be mandatory.
Projects which are not suitable. Projects where you cannot find any information about them, should not be entitled to “OKLG Certification”.
There are 2 ways to carry out due-diligence.
- OKLG carries out it’s own due diligence.
- Partner with Assure Defi, get them to just carry out their dilligence service. For a trade type deal.
It is super easy to do.
All you need is a pdf template.
Then you just visit the same websites. And fill in the blanks on the PDF. A monkey could do this work.
The only cost is time.
OKLG could have dedicated paid members to do this work.
Or out-source it to Assure Defi.
Here is an example document that Assure Defi uses.
If OKLG could create a super professional due diligence document for every single project that gets released under the OKLG brand.
This would be something entirely new for the crypto space.
Whitepaper — Create a whitepaper template for every project
This is so easy.
OKLG will already have 95% of the whitepaper completed.
All of the tokenomics will be the same.
You just need to adjust the numbers, based on what the developers of the new project wants.
Whether it’s a 10% bonus, or 5% bonus.
The whitepaper could use the same professional look and design of the due diligence document.
You can enable the colours to be changed.
Say if you wanted a white-label type project. The project was named pink fairies. You could edit the whitepaper document, so it had the colour pink.
To match the branding of pink fairies.
The professional whitepaper template…could look similar to this.
Auditing — A Comprehensive Audit of the code
$OKLG should provide a full audit document of the code, with every contract they produce.
It will be easy too.
Every contract is exactly the same. So you can use the same audit document.
Just change the name at the top.
Example: From pink fairies, change it to blue fairies.
$OKLG will have a significant advantage in the market due to this. Other companies like Assure Defi cannot audit code!
It would be in the best interest of $OKLG if they produced their own extremely in-depth auditing document of the code, when they create the initial contract template.
In order to set up the AUDIT TEMPLATE.
OKLG could partner up with Certik.
https://www.certik.io/products/security-audit/
Then Certik could give the go-ahead for OKLG to use their name at the bottom of the document.
Knowing full well the code will never change. Ever. It will always be a consistent template.
Project 1 — Audited by Certik and OKLG
Project 2— Audited by Certik and OKLG
Project 3 — Audited by Certik and OKLG
Do you get the idea now?
Auditing — A Comprehensive Audit of the project itself
Whether it’s at the beginning, or at a later date.
$OKLG could carry out an audit on the project.
Either team up with Assure Defi to do this.
Or OKLG could develop an audit team themselves.
Here is an example of an audit Assure Defi currently does.
They have a grading system.
All this really means, is someone sitting behind a desk, browses a few websites. Then ticks a box.
Again anyone can do this.
The cost is the time involved.
I am sure $OKLG could take inspiration from this and create their own auditing processes for people in the future.
Summary
If OKLG could automate the process of creating a new crypto coin.
If OKLG could allow anyone to easily obtain a truly safe, fully audited contract.
OKLG could take over the crypto space.
They could be a household name, with the likes of Binance and Floki.
Follow OKLG
Twitter: https://twitter.com/oklgio
Telegram: https://t.me/ok_lg
