(Photo by @hotsauceislethal, 7-ft tall monster unknown strain)
In the sea of crypto tokens, assets, coins and other digital currencies there seems to be an endless supply of new ones coming out, as well as tons of hype around the existing tribes. Many of these tokens are powered simply through supply and demand. There are people who act as "market makers" for their own coins, essentially creating the volume and liquidity required to trade successfully on an exchange. For example- someone has to provide the buyer demand for the token and set the initial price so many projects are keeping themselves afloat with price manipulation tactics. Wash trading, buy walls, spoofing... you name it, there is someone doing it right now on Steem-engine.
The sad part is that the majority of these projects have little to no value and will eventually fall by the wayside as soon as the project developers lose interest, and the market makers stop putting in orders. True communities keep projects alive, as well as real world use cases for these tokens. They don't spontaneously gain value simply because you want them to... people have to decide that they are valuable for certain specific reasons and that is what eventually builds a project up.
Why do we need 1000 different tokens for all of these unknown purposes? Tons of the projects have virtually NO use case for their token and simply created them to have (perhaps for bragging rights). Redundancy is a killer in this industry because people will eventually move to the technologies that provides the greatest ease of use and widest adoption. Coins that provide no function other than collectibility really have nothing to offer but novelty. I see hundreds of coins on Steem-engine that are pretty much useless- the projects have almost no development, poor execution and terrible planning. Each and every aspect of the @Canna-Collective project was designed and engineered for a precise purpose, with a well laid out road map, token projections and actual use cases.
The good ol' CANNA token! Our token price is not entirely determined by supply and demand like the majority of the market is right now. CANNA tokens were designed to be the instrument by which our project can grow rapidly in STEEM Power and thus influence. Set to sell in "stages", the price will slowly ratchet up in order to represent our growing STEEM Power, due to network inflation of STEEM tokens as well as post/curation rewards.
This means that your investment into CANNA tokens will always be protected and insulated from the volatility of the normal crypto markets. CANNA tokens will not fluctuate wildly day-to-day like most crypto assets. Rest assured that your holdings will not only retain their value but slowly grow over time as Steem grows.
You can sell back your CANNA tokens at ANY time on the Steem-engine platform at a 90% buyback rate. Independent offers may be higher but that is what we are currently able to offer during Stage 1.
Although our token value is entirely determined by the success of the STEEM token what we are really trying to build here is a community. This is where the real value comes in because the networks that we create today will help shape tomorrow's future.
Join us in creating a better Steem platform where people can earn more, connect with valuable resources and create lasting friendships and partnerships.