I was looking at new tokens that came out with large volume and stumble upon this one. I thought it was some sort of web3 economy for helpers, cleaners, etc. Turns out it was not, and it was a Religion-oriented token for Christians. Essentially it's a charity coin to help the less fortunate. Sounds good in theory, but lots of charity spent up to 50% of their donation on marketing, which is not ideal.
Can't go wrong with getting people to commit sins, then get them to clean their soul by buying crypto-currencies to help the less fortunate...
They have a platform for christians to meet each other, <b>get matched</b>, and make babies, but you need to buy the token to get access and pay for the services, like buying a digital bible, etc. It's not clear from the whitepaper if the organization is incorporated as a charity, or has any affiliation to existing religious entity. So, very possible to be a scam, if they auction a NFT-authenticated bible written by god himself, then we can rest assured that it's a scam, until them we won't know for sure unless there is a rug pull soon.
Tokenomics chart attached, at least the Team doesn't have a dedicated massive amount of tokens, but they have ability to exercise control over many of the pool supply. There is no mention of vesting period for pre-sale, team, advisors, Seed & VC, backup, etc. So, what will happen next is up in the air, but I'm highly skeptical.
1 million token supply at $43 per token at the moment, that's a good valuation with 2,389 wallets holding the token. There is no mention of how much their raised, but I highly suspect they invested a lot less than $43M, so any early investors can have significant influence on dropping the price if they decide to sell significant amount of tokens.
I'll stay away of that one. Show Less
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