Apollo Inu Token Review: A 1000X Gem or Just another Scam?

Apollo Inu has been on my list of tokens to watch out for since last week. I must admit that it was down the totem pole, however, its recent pump has raised it to the top. This token was launched and listed on coinmarketcap and coincgecko.com just a few weeks ago. Within the last 24 hours, it has pumped 156%.

If you are a small-cap crypto investor, or maybe are just curious about the Apollo Inu, or perhaps you have already invested in the project. This review was made with you in my mind. Is this token a scam? Stay with me till the end of this review to find out.

Before we begin this review, you have to know that “I’m not a banker or a financial expert. I will not be held responsible for your financial decisions. Consider this review alternative entertainment.  With said.  Let’s go!

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What is Apollo Inu?

According to coinmarketcap.com, Apollo Inu is a governance and utility token built f to support creative projects and creatives.  The Apollo community will nominate artists in several creative mediums ranging from music to writing. Artists will submit their projects and the community will vote using Apollo Inu Tokens.

The idea sounds unique, fantastic, and clear. Social media, blockchain, and cryptocurrency is changing how the world sees and reward creatives. Apollo Inu is another platform that is going to amplify this.

On Apollo Inu’s website, we find out more about the token. The token is an ethereum (ERC-20) token designed for people who are passionate about content into the world. Another aspect of Apollo Inu is the DOA. According to the website, the DOA is a fair way for the Apollo Inu community members to vote for nominated projects to receive a portion of collected funds. If you do not know what a DOA is, don’t feel intimidated. A DOA (decentralized autonomous organization) is an entity with no central leadership. Decisions in DOA get made from the bottom-up. DOAs are governed by a community organized around a specific set of rules enforced on a blockchain.

Apollo Inu’s  DOA is still being designed. That is, it has not been launched. The project is a new one. And it is still under construction.

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Apollo Inu’s Tokenomics

Apollo Inu has a total minted supply of 2 trillion. 50% of this minted supply has been burnt. The token was fair launched. Meaning no presale or dev allocation gives select stakeholders an upper hand.

The buy and sell tax is very low 6%. This means that whenever an investor decides to buy Apollo Inu Token, a 6% tax is deducted from his initial investment. This tax is very fair compared to other projects.

Here’s how the 6% tax is used. 

3% reflections tax goes directly to each holder proportionately from each transaction. For those who do not know. A reflection token rewards loyal holders of the token by giving a certain part of the tax to the holders. 2% is sent to the burn wallet. This confirms Apollo Inu token to be deflationary. Deflationary tokens are tokens that are designed to become more valuable over time. 1% is sent to the Artist DOA wallet. This fund is used to support artists.

I checked the contract on token sniffer, where it scored 60/100. Everything in the contract is perfect, except that the token seemingly doesn’t have enough locked liquidity. According to token sniffer,  Not enough liquidity is locked/burned which could allow for significant amounts to be removed (rug pull). Although, Apollo Inu’s website says otherwise.

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Developers Behind Apollo Inu

The developers behind this project are not known. Although they claim to have over 25 years of experience in tech, software development, creative arts, brand development, and marketing. Usually, the dev team not being doxxed is a red flag. However, the team has no central control for any part of the token contract. Meaning, there’s no way to change taxes, pause trading, gain control of collected fees, etc. This makes the contract safe.

Conclusion

In conclusion, the idea behind this token is unique. To me, it is a token with a purpose.  The fact the token has a renounced contract operates with a low tax structure and is without the controversial marketing wallet, suggests the developers are genuinely invested in this project.
There are less than 1,500 holders of this token. And more people will jump on this project as time goes on.

My only concern with the project is the point Tokensniffer raised. Also, the fact it is without a marketing wallet leaves a sweet-bitter taste. How does the dev intend to make more people aware of the token on a mass scale without a marketing fund, amidst competition from left, right, and center? If you decide to invest in this token, you have to be ready actively shill it. The token has massive, massive potential. 

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