Imakethe yama-crypto ibona ukuguquguquka okukhulu okubonakala kaningi kubonisa ukulawulwa yiklasi elincane labatshalizimali abakhulu (okubizwa ngokuthi “amahlengethwa”) endleleni yamanani. Ngokwemibiko yakamuva ekhishwe mhla ka-20-06-2026, ithokheni ye-BICO ibhekene nenselelo eyisisekelo ehlobene nokusimama kokukhula kwayo, lapho imininingwane yemakethe iveze ukugxila okukhulu kwabakhulu kulesi sikhwama.
Okokuqala: Amandla okukhuphuka akhona phakathi kwamandla nobuthaka
Umbhalo wokuqala uveza ukuthi amandla okukhuphuka kwamanje kwe-BICO aqhutshwa kakhulu umsebenzi wabatshalizimali abakhulu. Ngakolunye uhlangothi, lo msebenzi udala ukheshi ephezulu nokunyuka kwentengo okubukhali nokunamandla okuheha ukunaka kwemakethe. Kodwa inkinga ilele ebuthakanini balokhu kukhula; ukuncika kumayunithi ambalwa kwenza imakethe ifane nokwakha isigodlo esisekelwe esihlabathini esinyakazayo.
Okwesibili: Umthelela wokugxila ekuzinzeni (ubungozi bokuguquka ngokungazelelwe)
Ukugxila kwamasheya noma amathokheni ezandleni ezimbalwa kudala lokho okwaziwa ngokuthi “ubungozi bokheshi,” njengoba kubonisa ukuhlaziywa. Noma yikuphi ukunyakaza okungazelelwe kwalaba bahlenga—kungaba ukuthengisa ingxenye enkulu yezibambiso ukuze bathole inzuzo, noma ngisho nokudlulisa imali phakathi kwamapulatifomu abo—kungaholela ekuweni okubukhali kwentengo. Lokhu kunciphisa ukwethenjwa abatshalizimali abancane, futhi kwenza impahla yezezimali ibe sengozini yokuguquguquka okunzima okungabonisi ngaso sonke isikhathi inani langempela lephrojekthi noma ukusebenza kwayo kobuchwepheshe.
Lokhu kuvame ukuhambisana nalokho okwaziwa ngokuthi “Pump and Dump.” Lapho abakhulu bewuphusha intengo, bese behamba ngokushesha bemshiya abatshalizimali abancane bephathiswe izingozi zokulahlekelwa. Leli phethini lidiliza ukwethenjwa kwemakethe isikhathi eside, noma ngabe iphrojekthi ngokwayo inobunesisekelo obuqinile.
Okwesithathu: Imephu yomgwaqo yokusimama nokukhula (ukwandisa isisekelo)
Ukuze kuphume kule ndlela engapheli, iphrojekthi ye-BICO njengoba kuchaziwe ekuhlaziyeni idinga ukuhlukanisa isisekelo sabatshalizimali. Ukuncika ngokweqile enanini elincane lezikhungo kuyisithiyo ekukhuleni kwangempela kwemakethe. Ukuze kudonse abatshalizimali bezitolo (abantu ngabanye) nezikhungo ezisezingeni eliphakathi, iphrojekthi kufanele inikeze inani elicacile elidlula nje ukucabanga ngokushintshashintsha kwentengo.
Okwesine: Amasu aphakanyisiwe okufeza ukuzinza (ngombono ongachemile)
Ngokusekelwe kulokho okunikeziwe, singaphakamisa iqoqo lamasu okufanele iqembu le-BICO nabanikazi bamasheya balamukele ukuze kuqinisekiswe ukusimama esikhathini eside:
1. Ukwandisa ukucaca: ukumenyezelwa ngezikhathi ezithile ngokusatshalaliswa “kwamahlengethwa” namaphothifoliyo amakhulu ukuze kuthuliswe umuzwa wokuthi imisebenzi iyenzeka ngokusobala.
2. Imivuzo Yokunikezwa Ukheshi (Liquidity Incentives): ukunikeza izikhuthazo kubathengisi abaningi bemakethe (market makers) nakubatshalizimali abancane abahlinzeka ngokheshi kumapulatifomu e- decentralized nase-centralized, okunciphisa umthelela wokuthengisa okukodwa okukhulu.
3. Ezezimali Ezingenabamaphakathi (DeFi): ukukhuthaza ukusetshenziswa kwethokheni ezinhlelweni zezezimali ezingenabamaphakathi (njengokugcina, ukunikiza, noma ukumba); ngoba lokho kwandisa ukusetshenziswa kwalo futhi kukhuthaze abatshalizimali ukuthi baligcine ngenhloso engokoqobo hhayi kuphela ukucabanga ngokuhweba.
4. Uhulumeni Womphakathi: Ukwandisa indima yabaphethe amathokheni ekwenzeni izinqumo ezibalulekile ngokusebenzisa amapulatifomu obuholi (governance), okukhuthaza umuzwa wokuba yingxenye futhi kunciphise amathuba okuphathwa kabi.
Isifinyezo:
Okokugxila kwamanje kwe-BICO kungum“umkhemba onezinhlangothi ezimbili.” Ubonisa amandla emakethe akhona, kodwa ngesikhathi esifanayo kuyinsimbi ye-alamu efuna ukusatshalaliswa ngokulinganayo nokwahlukanisa isisekelo sabanikazi bamasheya. Ukusimama kwezezimali emhlabeni wama-crypto akulinganiswa kuphela ngokunyuka kwentengo kwesikhashana, kodwa ngokuthi iphrojekthi iyakwazi yini ukugcina inani layo phakathi nezigaba zokukhuphuka nokwehla. Amathuba okutshala kwangempela akhona emaphrojekthini aguquka esuka ekubeni “yindawo yamahlengethwa” aye “emakethe ebanzi.”
