Read full investigation on https://medium.com/@shitcoinofferin/flare-ico-wheres-the-free-crypto-exchange-496c633294c7
Oh, that forever free exchange. Sounds interesting. Binance should do something, it’s not gonna last much longer.
Here we have a scheme of how it’s gonna work. Even Pablo Escobar learn something new from them: they’ve got cocaine, a Colombian communist with a Kalashnikov, a boy from Jersey trying to hustle under posts. Lovely!
But I can’t help myself. I’ve got one logical question that won’t let me have a optimistic view: if the exchange is free, then how will it make money?
Duh. It turns out that it’s all about thorough analytics of crypto currencies exchange rate and buying them on other exchanges. Founders claim that thanks to this method, everything will be very liquid.
I still don’t get what what’s the profit from this hell machine and hodlers and its tokens. Oh, I see! Trading fees will be applied after all! But they said it’s gonna be free :(
The founders also claim that their token is almost not subject to inflation. How does that work? They didn’t state anywhere that it’s a stablecoin. And what will they connect it too?
Here they go again with fees. So they will decrease thanks to negotiations with other exchanges! Ok, now everything’s in it’s place. Let’s go home guys, no competition here.
You see benefits anywhere you look. Hey, guys, just hire an ordinary English major instead of one genius economist. You can’t do that on your website homepage!
Either it’s a fake listing on ICObench, or they deleted Flarecoin.
Everything looks fishy. Like with the startup bosses, who founded Omega One about a year ago (an organization that also announced an ICO launch). They gave a few interviews, in which they boasted about having serious and powerful investors. And then they decided to make FlareCoin.
Their telegram is somewhat active, but the admin don’t really answer questions of potential investors.
They changed their Twitter. Why the fuck would they do that? Because they changed their corporate colors?
Except from fake (or airdropped) likes and shares, nothing changed.
So what do we understand now? That we understand nothing at all. The exchange is not free, as was stated in the beginning. The project’s liquidity architecture also raises some questions. And these guys need money to launch not one, but two ICOs at the same time. I’d rather invest in something more real.