This project is a decentralized exchange (DEX) that is targeting "idiot gamblers." The team has raised $3.9 million in a private round, and is now selling 500 million tokens in a public round at $0.007 per token. The project has a number of red flags, including:
The team is keeping 69% of the total supply of tokens.
The project has made a mistake on its moonsheet, claiming that Binance has a $45 billion market cap when it is actually closer to $60 billion.
The project is not allocating a percentage of its income back to the token economy.
I would not be looking at this project as part of my portfolio. A clear no-BUY for me.
Here are some additional thoughts about the project's red flags:
Team control: The team is keeping 69% of the total supply of tokens. This means that they have a lot of control over the price of the token. If they decide to sell their tokens, it could drive the price down and cause investors to lose money.
Moonsheet mistake: The project's moonsheet is a chart that shows how much return investors could make if the price of the token goes up to a certain amount. However, the project made a mistake on the chart, claiming that Binance has a $45 billion market cap when it is actually closer to $60 billion. This suggests that the project is not very careful with its numbers, which could be a sign that it is not a reliable investment.
No income allocation: The project is not allocating a percentage of its income back to the token economy. This means that investors will not be able to earn rewards by holding the token. This is a common feature of pump-and-dump schemes, where the only way to make money is to sell the token to someone else at a higher price.
Overall, The tokenomics and project do not give me the confidence to BUY. It has a number of red flags that suggest that it is likely to be a pump-and-dump scheme. So if you like those and you are willing to take a ride then proceed with caution. Show Less
