What Is FIR

On September 8, according to the token disclosure document released by LAPTOP, the meme coin associated with former U.S. President Biden's son, the total supply of LAPTOP is 1 billion tokens. At the time of the Token Generation Event (TGE), 350 million tokens, or 35% of the total supply, were unlocked. The first-day community airdrop, future airdrops, and the foundation's treasury account for 10%, 10%, and 5% respectively. Of the 100 million LAPTOP tokens airdropped on the first day, 20 million are intended to be allocated by partner platforms to users who incurred trading losses on TRUMP, while 80 million are for users who subscribed to Hunter Biden's "Where's Hunter" Substack before September 6. The claim period is 30 days, and any unclaimed tokens will be permanently destroyed; the future airdrop of 100 million tokens will be allocated at the discretion of the Phoenix Veritas Foundation. A total of 100 million tokens are designated for liquidity, to be provided to trading platforms, market makers, and decentralized exchange liquidity pools. The foundation has signed a borrowing agreement with G20 and GSR to lend a total of 20.5 million LAPTOP tokens, which represents 2.05% of the total supply, and these tokens are included in the liquidity allocation and do not constitute additional issuance. The remaining 65% of the supply includes 30% for the founders, 30% for the prediction mechanism, and 5% for charity. Founder tokens will be locked for 6 months and then released linearly over 24 months, while prediction mechanism tokens will be locked for 12 months and then released over 24 months.

On August 29, crypto KOL @0xkioto summarized the commonalities of tokens on the Robinhood Chain that have reached (or are close to) a market value of over 100 million since its launch. He pointed out that tokens like CASHCAT, AI, and PONS have strong market appeal from the start, attracting significant investment. However, once this frenzy slows down, it tends to shake off all short-term buyers. These tokens experienced a drop of -60% to -95% after the initial surge. @0xkioto believes that these declines will transfer supply to steadfast holders who are unlikely to sell, along with a 'team' to scoop up the tokens in preparation for the next price increase. When new demand comes in, it will encounter thin sell orders, possibly coupled with a catalyst to accelerate the rise. This is when it starts to soar. 'The Robinhood Chain belongs to the holders, not the disruptors.' BlockBeats believes that this summary may have certain representativeness and logical consistency in terms of chip consolidation. However, the performance of the related tokens is also significantly influenced by the overall sentiment fluctuations following the launch of the Robinhood Chain. After its impressive debut in early July, the chain faced challenges due to capital diversion and other factors, leading to a period of speculative logic and liquidity issues, which is one of the key reasons for the significant corrections experienced by these tokens.

On July 31, Kioxia reported first-quarter operating profit of 1.27 trillion yen, compared with 449.0 billion yen in the same period last year, while market estimates had expected 1.37 trillion yen. First-quarter net profit came in at 842.17 billion yen, versus 182.8 billion yen a year earlier, missing the market forecast of 973.81 billion yen. The company expects operating profit of 3.16 trillion yen for the April-September period. Kioxia will conduct a 1-for-3 stock split and announced a share buyback plan.