Quote:
Originally Posted by jscott
I would never touch "projects" like these. They are basically ponzi schemes. Usually the owners/foundsers/CEO's do what they can to pump the coin and get theirs traded into Bitcoin or something with legit value, and basically rug pull.
Prediction: This "project" won't be alive within 2 years.
AmateurFlix, not trying to rain on your thread here, but are you being paid for this thread?
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No, I'm not being paid in any way, didn't even post a ref code.
You're right in that most defi projects are ponzi in nature; this one is not. The tokenomics are as sound as anything I've found in defi. Basically it takes taxes from buys & sells on Elephant coin to pay for rewards on the staking/bonding/farming & Futures contracts, while in turn using a portion of the deposits from those same contracts to pump up the price of Elephant, causing more traders to FOMO in.
A sort of economic feedback loop if you will; short term traders are paying for the gains of long term holders.
The contracts have been audited by solidity, certik, and peckshield, the dev is fully doxxed, and the project is at least a few years old already, it started on tron and moved to bsc. Nothing is 100% but if the dev was going to rugpull he'd probably have done it long ago and before getting it audited by the most trusted names in the biz.