Belon DAO Token (Honest) Review: Legit or Scam?

Belon Dao token is perhaps one of the hottest coins on the binance smart chain, and it is not hard to figure out why. The token, within a couple of days post-launch, has pumped 101%. Also, Belon Dao is occupying the third position on coin market cap trending coin’s list.

I have decided to run this review because I know smart token hunters will be looking for more information about this token.  So, this review is for you, if you are looking to invest in the Belon Doa project, if you are just curious about the project, and if perhaps you have already invested in the project.

Before we begin, you need to know that, “I’m not a banker or a financial expert. I will not be held responsible for your financial decision. This article is just a guide and nothing more.” without further ado, let’s know what Belon Dao token is.

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What is Belon Dao?

According to coin market cap, BELON will be the first DAO-managed exchange on the Binance Smart Chain. BELON’s governance protocol will be decentralized, in that there is no central decision-making authority, and all major decisions regarding the future evolution of the exchange will be determined by the outcome of a holder vote.

The token was listed on coin market cap and coin gecko, two and 4 days respectively. It is currently on the watchlist of 724 people. Let us move on to cross-examine Belon Dao’s website.


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Belon Dao’s Website

Belon Dao’s website is well designed. It is unlike many crypto websites out there. It is properly layered, as in, the home page accurately connects with the various aspects of the project. For example, the home page houses just two links. These two links are named Go to Exchange and Belon Token. When a user clicks on Go to Exchange. He is directed to an exchange login or sign-in page. However, when he clicks on Belon Token, he is directed to the token’s website properly. Which houses links to Belon’s staking and DAO features.

Through the website, we see that Belon Dao maintains it is a community-governed hybrid exchange that enables the use of  Paypal as a payment and withdrawal solution.

We also learn that Belon token offers trading, staking, and profit-sharing. The DAO project is anchored on 3 core benefits, according to the website. These benefits are;1. 50% of profits from BELON exchange will be distributed to BELON token-stakers. 2.  Stake your Belon tokens with for generous APY. And the last is, All governance decisions will be made collectively by the token holders. You can download their white paper here.

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Belon Dao’s Tokenomic

Belon Dao has a total supply of 1 billion. 20% was made available on presale, 16% was assigned to be staked, etc. The total is supply reasonable. You can see the project is not a meme project.

The tax is 11%, which is slightly on the high side. Here’s how the tax is distributed. 4% goes to marketing, 3% goes to staking, 2% goes to liquidity, 2% goes to the token’s development, 1% goes to the buyback wallet, finally, 1% is sent to the burn wallet. This tokenomics means the token is deflationary. For those who do not know, deflationary tokenomics means that the token is programmed to become more valuable as time passes.

Belon Doa On Tokensniffer

On Token sniffer, Belon DAO is risky to invest in. The contract checker rates Belon DAO contract, 51%, at the time of writing this review.
Here are some of the negatives around this project, pinpointed by Token sniffer, Ownership is not renounced. The 11% tax is high. Just 87% of the liquidity was locked on pinksale. The positives around this project are that the contract was built for the token, there are no whales in the token’s ecosystem, the owners have just 1.3% of the supply.

Developers Behind Belon DAO

Although, promoters of the token on Twitter claim the token is doxxed. I do not see it on their website or the tokens white paper. However, the token was launched on Andromeda. Andromeda is a launch pad that helps developers with ideas incubate and launch their projects. So, the developers have KYC’d.

Conclusion

In conclusion, Belon DAO has strong links to being legit. The website is unlike many, the contract was specifically built for the token, it was incubated and launched on Andromade. However, the token has considerable risks. The developers of the project have absolute control over the contract, which could be a good thing or a bad thing. Just 87% of the liquidity is locked. Investing in this token demands you trust the developers, so you might want to have a word with them.

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