What is 雪球 (Snowball)?

Snowball is a cryptocurrency project introduced on the Butterfly platform, focusing on community consensus and innovative mechanisms. The project has a structured approach to market operations, including a 3% transaction fee directed to a buyback and burn wallet. This strategy aims to reduce supply and support price stability.

Transactions are linked to specific market thresholds; for instance, when daily trading volume reaches $4 million, the project can engage in a buyback for 24 hours, extending to 48 hours for $8 million and up to four days for $16 million. The supply cap and governance model details are not specified in the available information.