Bobatama Token Review: Legit or Scam?

The crypto market has been underwhelming recently.  Even the meme market is looking down. However, one token causing excitement amongst meme token hunters is Bobatama token. This token was just launched yesterday and between that time and now, it has gathered over 1200 investors. Why is this token generating so much interest in this depressing market is the reason for this review.  Like I always do, I will be examining the token from different angles. So,  as to conclude whether this token is safe for investors or not. If you are in some way.

But before we begin reviewing Bobatama, you have to first know that “I’m not a banker or a financial adviser. I will not be held responsible for your financial decisions. It is important to verify or fact-check the things you got from this review and make your conclusions.  This article is just a guide.  Consider it entertainment.” Without further ado, let’s begin.

What is Bobatama?

According to coin market cap.com, BOBATAMA is an ethereum based smart contract protocol with a native token reflection distribution. The utility behind BOBATAMA is BOBAMASK, which they claim, will be the first-ever Ethereum Virtual Machine (EVM) compatible multi-chain wallet with our Force Ghost technology.  For those who do not know, The Ethereum Virtual Machine is the software platform that developers can use to create decentralized applications (DApps) on Ethereum. This virtual machine is where all Ethereum accounts and smart contracts live. Let’s go on to check out bobatama’s website.

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Bobatama’s Website

The website has its uniqueness, however, it is basic in my opinion. It looks like something that may eventually change as the token progresses (that is if it progresses). Through the website, we learn what Bobatama is about. According to the developers, BOBATAMA is a variation of the Saitama meme combined with the legendary Boba Fett character. BOBATAMA is launching on the Ethereum network. Our smart contract combines our liquidity development protocol with a native token reflection distribution. Again, the token developers have KYC’d with Interfi. This means that details of the ownership of the token have been revealed to a third-party platform.

Tokenomics

Bobatama token has a total supply of 1 trillion. Like many meme tokens, Bobatama adopts a tax system. Upon every buy and sell, investors are taxed 12% and 14%. These taxes are high. And rather exploitative. If you check how these taxes are distributed you’d notice that most of the tax is distributed towards marketing, which is a clever ‘trap’. The truth is that most token developers do not use the marketing fund to market the token. What are the chances Bobatama developers will use this ‘fat’ marketing wallet to market the product? Let’s check out the token’s contract on TokenSniffer.


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Bobatama On Tokensniffer

Through tokensniffer, we find out that  Bobatama contract is rated 55%, which is slightly above average. According to the contract reviewing platform, Bobatama is rated 55% because, the tax on the contract is exploitative, the source code contains a function that can change the transaction fee. This means that the token is a honeypot risk. And lastly, the ownership of the token is not renounced. This could either be a good thing or a bad thing. By good thing, the contract is flexible, dynamic, and flexible to the challenges that might arise in the future. The bad thing in the sense that, the contract is in the hands of the owners you do not know their real intentions. However, the token has its positive side. For example, 100% of the liquidity is locked and or burned. 77% of this liquidity is locked for 90 days.

Developers of Bobatama Token

The developers behind Bobatama token are unknown, that is, they are undoxed. Undoxed projects like this are suspect, however, the developer has KYC’d on interfi-network. Them not being doxxed, even with KYC is a red flag in my opinion. This is because the long-term survival and its ability to deliver on the promised utility BobaMask will determine by the skill and expertise of those behind it. Who we do not know. The developers behind this project could be ex taxi drivers,   veterans for all we care.

Conclusion

Like many meme tokens, investing in this token is risky. The tax is rather exploitative to investors. The developers made it clear they did not create the token to lose. The token has a tax-changing function, which is a big red flag. This means that the tax could be increased or decreased all of a sudden. However, the liquidity is relatively secure, with 77% locked till sometime in June. Personally,  I do not think this token is a scam, however, I will not be surprised if this token runs a rug on investors.

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1 Comment

  1. Very good review. I suspicious of any coin that bites and get its name from other projects. Just go out and buy Saitama!!

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