Key takeout
- YE is planning to launch Yzy Token as a way to bypass platforms like Shopify.
- Yzy Token Distribution allocates 70% to YE and aims to become the official currency of YE's website.
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A few days after Kanye West, now known as Ye, he plans to drop a token called Yzy, comparing the “coin” to a hype-driven sneaker that preys on fans.
Three sources with knowledge of the project, named after his Yeezy Clothing brand, avoids platforms like Shopify, which cut ties with the artist after a series of hatred and anti-Semitic tweets. He told Coindesk that he aims to do so.
The distribution of Yzy Tokens is severely skewed towards you. According to the report, he personally holds 70% of the tokens, with 10% liquidity and only 20% of investors. You are also planning to make Yzy the official currency for purchasing on his website.
Sources reported that Ye's approach was inspired by the Trump meme coin, launched by President Donald Trump prior to the inauguration. Izzy initially wanted an 80% stake in Yzy, but was negotiated by 70%.
The token structure includes a multiphase vesting schedule with several coins locked for up to 12 months.
The launch, which was originally scheduled for 6pm on Thursday, was delayed until Friday, according to team members who requested anonymity. Information about the token was revealed through an unsolicited email from someone who claims to be Yeezy's CFO.
Launch delays arise as the team considers timing concerns following the recent controversy over Argentine President Javier Mirey's Libra token.
From “prey to fan coins” to… your own coins?
You returned to X earlier this month and began your day rant on the platform.
Among the high-profile posts from Crypto Community members were screenshots of refusing a $2 million promotion agreement from an unidentified contact who provided money to promote fraudulent codes.
The proposed transaction included holding a live deceptive promotional post for a specific period of time before requesting a hack for your account. This disclosure has led to wider speculation about the credibility of similar past cases involving celebrity account hacks to promote Crypto tokens.
In another post, he expressed interest in his connection with Coinbase CEO Brian Armstrong “on Crypto.”
The speculation of the crypto token backed by YE came after his X post, but he quickly revealed that he was “not making coins.”
The voice behind “strong” and “violent crime” claimed that he only pursues passionate and knowledgeable projects, and that the launch of meme coins does not fall into that category.
You also have a hyped sneaker culture he created himself, he is too wealthy to need such a venture, criticizing the coin to exploit the hype of his fans. They claimed to have compared.
Now it is known that the coins supported by Yehe are in shape behind the scenes.
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