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[CoinList](https://coinlist.co/clt?referral_code=4CA9XD) is better known for its early access token sales of vetted crypto projects... which many of which have been quite successful, and are now trading at multiples of the original launch price. So, I've had to say that I've been pretty happy with it all... despite the fact that I'm still always approaching every token sale expecting them to end up at zero... at least by the time that the release lock period ends it might end up there!
Many of the sales early this year were plagued by multi-accounts making it quite difficult for regular single account holders to get a purchase spot in the sale rounds. However, the more recent sales have had a parallel queuing system that prioritised longer term and active [CoinList](https://coinlist.co/clt?referral_code=4CA9XD) users which meant that many of us were back in with a chance to get a decent spot in the purchase queue. Plus, the recent weeks have seen some of the earlier sales unlock with the expecting dumping of tokens, which combined with the recent market drawbacks have resulted in prices of some the projects hitting roughly the same prices as the crowdsale rounds.
However, every now and then [CoinList](https://coinlist.co/clt?referral_code=4CA9XD) does have a good old-fashionied lock/stake drop (that reminds me, I should check up on the Edgeware lockdrop.... which was the first of its kind!). These are also quite interesting as these require that users immediately commit funds to the lock/stake or they lose their participation spot. That makes it a little bit less interesting for the people who want to sell empty accounts on the OTC Telegram channels as they have to actually commit funds without the guarantee of an actual secondary sale of the account. So, hopefully good news for those of us who do it the old-fashioned way with a single account and regular queues...
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So, the EGL genesis is an attempt to add a feedback loop from EGL token holders to the miners to better incentivise one of the levers that would affect the gas pricing on the Ethereum mainnet. It is an interesting proposition... but I had to read the document a couple of times before I understood how the tokenomics worked... even now, I'm not 100% sure that it will work, but that is the way with crypto! Lots of well meaning experiments (and some not so well meaning...) to try and see how difference financial incentives play out with real actors (aka, humans... it is always the stupid humans that mess up a good hypothesis and economic fairy tale).
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So, the two main parts to Ethereum gas pricing are gas fees and block sizes. Most users of Ethereum are going to be quite familiar with gas pricing... however, most people don't realise that the block sizes of Ethereum are elastic and can be change block to block by the miners. More block space means that more transactions can be included in a block, but can lead to lower gas fees due to the additional space on the supply side for transaction space. So, in short and simplified to the extreme... larger block sizes are potentially better for users, but smaller block sizes are better for miners.
Of course, there are other considerations at play... too small, and the network loses value because it is too expensive and too slow,... and too big, and there will be network desyncing due to increasing hardware constraints on running miners/nodes. So... no dialling the volume up to 11 in either direction!
Needless to say, at the moment, the only way that users can influence transaction costs is by changing their gas fee... at the risk of having hanging or slow transactions. The other part of the equation, the block size, is beyond the ability of the user to affect.
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So, it is possible to take part in the EGL on-chain... but that will incur transaction fees but has the advantage of having self-custody. The main advantage of taking the [CoinList](https://coinlist.co/clt?referral_code=4CA9XD) is the ability to dodge the onchain fees at the cost of KYC and a payment of a 2% performance fee. Well, if you aren't going to commit whale-like sizes of ETH to the stake-drop then it is by far the more preferable option.
Speaking of which... the unsaid part is that the [CoinList](https://coinlist.co/clt?referral_code=4CA9XD) stake will be the whale in the pool. 15000 ETH out of the 25000 total!
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So, much like most of these stake-drops, the ETH is matched up against the allocated EGL tokens and then the whole pool is dumped into a Balancer Pool. This is currently one of the better and responsible ways to determine a market price for a newly launched token as there can be time-locked weightings to dissuade that crazy first minute on non-weighted AMMs.
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So, as you can see from the above graphic, EGL adds a new game to the settling of block sizes that didn't exist before. Miners that produce blocks that are near to the voted block size are rewarded in EGL, and this EGL should have value due to the users and platforms (and maybe miners as well) wanting to have a way to manage and signal their desired block size.
Interesting... and I wonder if will all work out as intended when it all goes live... and I wonder how it would work when/if Ethereum transitions to a POS model. London will bring stability and predictability to the gas fee problem... but not necessarily lower the prices. So, this might be a token with a distinct end time for its use case? I'm not sure...
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Anyway, the way that the stakedrop is laid out, the earlier stakes get earlier locks, whilst the later stakes get the larger rewards. A good way to do things... I wonder if that would work on our beloved social blogging crypto-platforms?
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Minimum contribution is 0.05ETH, and it is going to be a queued event again... I do hope that I manage to get into this one... the concept is interesting enough to pique my interest, and it is a stake drop, so I hope to get most of my ETH back in the end (although, that isn't by any means guaranteed)... however, previous [CoinList](https://coinlist.co/clt?referral_code=4CA9XD) tokens sales mean that my account is funded and ready to take part... so, no additional funds will need to be diverted, in fact, they are just sitting there waiting to be allocated!
Like all these [CoinList](https://coinlist.co/clt?referral_code=4CA9XD) offerings... the time line is quite long... 6 months to a year after Genesis is pretty long in crypto time, but pretty standard for [CoinList](https://coinlist.co/clt?referral_code=4CA9XD) crowdsales... and those time lines are more in line with my way of thinking...so, I'm happy to sit on a locked asset and see where things are in a year or two!
https://steemitimages.com/0x0/https://cdn.steemitimages.com/DQmQgdKBYt2WqqK4iNvDmFsZHUJfu9t62Hz1JxHAwJ7SyoB/thealliance_pagebreak.png
# <center>Handy Crypto Tools</center>
[Ledger Nano S/X](https://www.ledger.com?r=7db72b914099): Keep your crypto safe and offline with the leading hardware wallet provider. Not your keys, not your crypto!
[Binance](https://www.binance.com/?ref=18699956): My first choice of centralised exchange, featuring a wide variety of crypto and savings products.
[Kucoin](https://www.kucoin.com?rcode=8ubh6b): My second choice in exchanges, many tokens listed here that you can't get on Binance!
[MXC](https://www.mxcio.co/auth/signup?inviteCode=17QyS): Listings of lots of interesting tokens that are usually only available on DEXs. Avoid high gas prices!
[Coinbase](https://www.coinbase.com/join/58034401fb82d963dcd35ef4): If you need a regulated and safe environment to trade, this is the first exchange for most newcomers!
[Crypto.com](https://platinum.crypto.com/r/8h7zt7rzh8): Mixed feelings, but they have the BEST looking VISA debit card in existence! Seriously, it is beautiful!
[CoinList](https://coinlist.co/clt?referral_code=4CA9XD): Access to early investor and crowdsale of vetted and reserached projects.
[Cointracking](https://cointracking.info?ref=S596141): Automated or manual tracking of crypto for accounting and taxation reports.
<a href="https://www.ledger.com?r=7db72b914099"><img width=728 height=90 alt="Ledger Nano S - The secure hardware wallet" src="https://www.ledgerwallet.com/images/promo/nano-s/ledger_nano-s_7-2-8x9-0.jpg"></a>
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