FatMan sounds the alarm on Ronaldinho-backed ‘World Cup Inu’ crypto token
investigation work by @FatManTerra The questionable tokennomics of the newly released Ronaldinho-approved World Cup dog token has been revealed.
Ronaldinho ‘delighted’ to join family of World Cup dogs
The FIFA World Cup in Qatar is just a few weeks away, kicking off on November 20th and with the final scheduled for December 18th. controversyThis includes allegations of corruption in the organizer’s bidding process and the inhumane treatment of the workers who build the infrastructure for the event.
To accommodate Qatar, FIFA broke with tradition and made the unprecedented move to host the event in the winter, impacting the schedules of the country’s football leagues. Qatar temperatures can reach 40 degrees Celsius during the summer.
As expected, a swarm of World Cup-themed crypto tokens have recently appeared, including FIFA Shiba Inu, Baby World Cup Inu, FifaWorldCupInu, Fifa World Cup Inu, World Cup Token, and Qatar World Cup. But perhaps most famously the World Cup canine, backed by legendary Brazilian superstar Ronaldinho.
The former Barcelona and AC Milan midfielder has become a fan favorite based on his playmaking ability, technical skills and talent. In March 2020, Ronaldinho custody Stayed in Paraguay for 6 months because he entered Paraguay with a fake passport.
October 19th, Ronaldinho He tweeted his support for the World Cup Inu token, adding that he was impressed with the project’s DeFi innovation.
I am happy to be part of the World Cup dog family. $WCI They are changing the defi space according to their work and utility. I am really excited about this project! I will give them three of his jerseys and guarantee Brazil victory. #World CupPlease check it out🤙 pic.twitter.com/rvF9mNCqFs
— Ronaldinho (@10Ronaldinho) October 19, 2022
world cup dog token called
World Cup Dogs began trading on September 27, according to price data.0.03397452 on Oct 17 Early investors would have earned a return of 2,100%.
Since then, WCI has plummeted to support at $0.01440661. On the other hand, market capitalization information is not available due to lack of circulation supply data.The developer has revealed the total supply Billion Tokens – Relatively low maximum supply.
world cup dog It runs on the Ethereum blockchain and can be traded on Uniswap and OpenOcean.
The token is described as a Web3 betting portal that allows token holders to bet against others on the outcome of World Cup matches. In keeping with the gambling theme, it also features a lottery.
As a result of investigating tokenomics, fat man It tweeted a warning to the cryptocurrency community, advising users to “stay away” for safety.
In particular, FatMan expressed concern over a tax feature that skims a percentage of all transactions, saying the developer has already removed a significant amount from the tax pool.
Legitimate projects use transaction taxes to reinvest in projects or fund development costs, but always with community consent.
coin gecko The WCI tax rate is variable and can be increased at will. FatMan also mentioned this, and Smart added that the contract feature allows developers to suspend trading.
PSA on this coin: World Cup dog deployers seem to charge a 4% swap tax on DEX transactions. He has already cashed in over $300,000 of his from his WCI. There is also a contract function to unilaterally raise the swap tax and suspend the transaction. Be careful; it’s best to stay away. https://t.co/cesjw73Gwl pic.twitter.com/a0sRRSKLRN
— Fat Man (@FatManTerra) October 19, 2022
If you comment on the cash out amount, @fanfloki He said this was a legitimate expense related to marketing expenses.
It is known to be a marketing purse and marketing costs money. It would be understandable if the money was withdrawn and nothing was shown against it, but it’s not. A marketing campaign was displayed. Also, are Dokwon and Terra dominating the entire crypto market?
— $WCI Chad Chadington (@FanFloki) October 19, 2022
CryptoSlate has reached out to World Cup Inu for comment, but has not yet received a response.
