On June 25, 2025, in the Cayman Islands, the Magic Newton Foundation announced the launch of $NEWT, aimed at addressing token distribution issues and enhancing transparency in the crypto industry.
Objectives of the $NEWT Token Launch
The launch of the $NEWT token was initiated in response to demands for fairer token distributions in the crypto market, particularly due to numerous instances of market manipulation by insiders. Research by Solidus Labs indicated that insiders used decentralized exchanges to trade ahead of 56% of all ERC-20 token listing announcements.
Distribution and Transparency Principles
The foundation states that $NEWT tokens will be distributed with a focus on fairness and transparency. 60% of the total 1 billion token supply will be allocated to community initiatives, including ecosystem development and rewards for participants. All distributions will be published in quarterly reports, preventing hidden allocations and unexpected token unlocks.
Token Functions and Community Support
$NEWT will perform four core functions: securing the network through rewards for validators, serving as the gas token for payments, allowing agent operators to earn fees for automated services, and providing governance rights to stakers for guiding protocol development. Additionally, the foundation has launched a rewards program for early supporters to encourage involvement and community support.
Thus, the launch of the $NEWT token by the Magic Newton Foundation demonstrates a commitment to improving transparency and trust in the crypto industry, which could positively impact the future of token distribution.
