Mansa Musa ran the first airdrop with no demand sink. And crashed the price of his own asset.
👑 July 1324: the ruler of Mali reaches Cairo on his way to Mecca and gives gold away to officials, the court and the city.
📉 Al-Umari, writing ~12 years later: a mithqal of gold fell from 25 dirhams to under 22, and still hadn't recovered.
💸 On the way home Musa ran out of money and, per several chroniclers, borrowed from Egyptian merchants at high interest.
🗺️ Brand win: the Catalan Atlas of about 1375 drew him on a throne holding gold.
Crypto runs the same experiment every cycle. Free tokens without a reason to hold them are just new sell pressure. Supply is easy to distribute. Demand has to be built.
Would you rather have Musa's treasury or a demand sink?
#History #Crypto #Tokenomics
👑 July 1324: the ruler of Mali reaches Cairo on his way to Mecca and gives gold away to officials, the court and the city.
📉 Al-Umari, writing ~12 years later: a mithqal of gold fell from 25 dirhams to under 22, and still hadn't recovered.
💸 On the way home Musa ran out of money and, per several chroniclers, borrowed from Egyptian merchants at high interest.
🗺️ Brand win: the Catalan Atlas of about 1375 drew him on a throne holding gold.
Crypto runs the same experiment every cycle. Free tokens without a reason to hold them are just new sell pressure. Supply is easy to distribute. Demand has to be built.
Would you rather have Musa's treasury or a demand sink?
#History #Crypto #Tokenomics
