Jupiter Lianchuang: The core of the sniping problem lies in the imbalance between pricing and incentives. It is necessary to balance fairness and efficiency in mechanism design

Odaily Planet Daily News Jupiter co-founder Meow wrote, "Even though we are promoting various innovative technical solutions to alleviate the problem of "sniping", we must remember that sniping is essentially an economic problem and a problem of mispricing. Therefore, any means of alleviating sniping will, to some extent, impose costs on early buyers (such as longer lock-up periods, higher prices or handling fees). Many problems actually require good design and reasonable trade-offs. For example, deep liquidity pools can significantly reduce volatility, but some users prefer volatility; from a user's perspective, real serious buyers may prefer to participate later rather than "all in" at the beginning; there is currently a lack of friendly and easy-to-use interfaces in the market to support "scheduled online" purchases. More fundamentally, we need to develop "meta strategies" around accurate pricing, risk/return trade-offs, and contributor allocations. But these topics are often not the focus of front-line participants, so there is also a lack of sufficient incentive mechanisms in the market to truly solve these problems."