Babycare token is doing a crazy pump on my favorite crypto market app, coin market cap. Like I always do, I have decided to review the token. To help you decide whether the coin is worth the hype. And to uncover major scams, wicked folks in the industry plot.
If you are about to buy BabyCare token, but you are wary and unsure that it is legit or a scam token? or maybe you are just curious about the token. I have done all the heavy lifting and investigations on your behalf. All you need do is to read through this article.
I’ll like to let you know that, I’m not a banker or a financial expert. I will not be held responsible for your financial decision or indecision. This article is just a guide. I’m not here to promote or disparage any coin, hell I don’t you. I consider my analysis to be objective and fair. If you are not satisfied with the things I say, you can always do your own research.
With that out of the way, let’s begin.
When I am investigating a new token, the below are the things I look out for.
Developers behind the project
What people are saying about the
(If you are a frequent visitor of this website, you should know this already )
I will go on to explain these points, as it relates to Babycare token in the following paragraphs.
The Babycare token’s website is an average looking website. You know, that type that belongs in 2008. Absolutely nothing is spectacular about it. That’s the first red flag for me. If you can’t afford a good web developer in your team, you most probably cannot deliver on your promise.
Where the people behind, Babycare succeeded on the website is their description. They absolutely win you over, with their almost ‘convincing’ words. I was almost thinking, this could be a real project! If you are an empathetic and emotional person, like me. You most probably will be persuaded to give it a try after reading ‘what they are about’.
Let’s review what they actually are about, according to them.
“The BabyCare team is a group of developers, project managers, social entrepreneurs, designers and marketeers with a mission to fuel a global movement that will defie (redefine?, yea, we all make mistakes, this website is littered with spelling and grammar mistakes) the status quo and make profitability intrinsically linked to positive social impact. We are the unappreciated, raised in an economic system set up for us to fail, but using the few safety nets available to us to build a better future. We had access to education, free school meals and clean drinking water.”
Wow! This is some us vs them classic, a real marketing genius. This is what social justice warriors like myself (don’t look at me) are all about, making the world a better place (if this paragraph flew over your head, I’m joking at this point).
Seriously speaking now, this token says it’s a ‘babycare’ token, but took pictures (which looks like an advertisement) with poor kids and their grandma, who aren’t exactly baby’s in cambodia. A big red flag.
As contained in the introductory part of the whitepaper.
“BabyCare (BCare) is a proprietary, hyper deflationary token on the Binance smart chain network. Born from the frustrations and realisations of the class systems that drastically affect the lives of EVERY being on Earth…. BabyCare is a distinctive charity-based cryptocurrency with a mission to make an impact for the greater good rather than just ourselves. We will aim to become the bridge between the crypto world and charitable causes through fruitful discussions with charitable organisations, educating them about cryptocurrency space and introducing them to a world of untapped capital.”
The confusing word in the above is the “hyper deflationary token” term. Basically, what this mean is, when a total circulating supply of a token continues to decrease to a predetermined amount, then the token is a hyper deflationary token. This decrease in the supply of tokens is achieved through: buyback and token burn (although, Babycare white paper didn’t say anything about those). The main benefit of this model is that they restrict the market from being swamped with too many tokens as creators mine, create, or sell more tokens.
Hopefully, you understood that.
Like I said earlier, there seem to be a disconnect between the name of the token and the what the token stands for.
But let’s not think too much about it,
Let us go further down the white paper, and rationalise their big claim.
According to BabyCare’s tocenomic (tokenomics?) another section in the white paper.
“Babycare bsc is the next evolution of a reflection token on the Binance smart chain”. They continued by saying “BabyCare has an innovative double reward reflection that rewards it’s holders 4% cake and 4% Ada to maximise your earning for now and the future”
The strange word here is reflection token. Like I always do, I’ll attempt to explain what a reflection token is.
A reflection token are when a token act as a self-generating mechanism for their holders. As every transaction (buy and sell) is taxed, you receive tokens automatically simply by holding the token. The reflection mechanism was developed with the hopes of transforming the concept of yield generation in the DeFi ecosystem.
I want to point out my two observations,
- 1. Remember We just read that BabyCare is operates a hyper deflationary token, in the introduction of the white paper. Which I tried to explain.
- 2. We are also reading that BabyCare is a reflection token. Which is totally a different thing from what is on the introduction.
This shows that BabyCare creators do not really know what they are talking about. If there’s a ‘merge’ between the two systems they are talking about, they didn’t say.
Another question I have is, How will they fulfil their 4% Cake and Ada reward? Will it magically fly into the wallet of holders? This white paper gives off scam vibes and it leaves a trained eye asking more asking more questions.
Developers behind the coin
The creators of BabyCare are unknown. The developers aren’t doxxed. Another even bigger red flag. I personally think the folks behind this token are from Asia, because from my experience of reviewing tokens, these sorts of ideas are often from developing countries in Asia.
What people are saying about the coin.
YouTube, I think deleted the token’s YouTube channel. I looked at other youtube channels to see what people are saying about the coin. Here are some of the (un)pleasant comments
The token also had it twitter page brought down.
The thing about these token is that they got influencers (really beautifully influencers), who, by the way, have zilch knowledge of crypto to advertise their scamcoin. This I think was really effective, as a lot of people are ignorantly investing in the token. Here’s an example of the video.
Their telegram group doesn’t even look like a group. The scam is so obvious
I’m not even bothering to check their market cap or liquidity pool, this coin is a scamcoin by every standard.
BabyCare token is a shitcoin with no actual utility. The coin is targeted to people who do know much about or those who are desperate for fast cash. This coin will most probably hold little or no value in the future. You will lose money getting this token, it is very obvious.