EVDC Token Review : Legit or Scam?

Electrical Vehicle Direct Currency, EVDC token is currently doing a crazy pump right now on coinmarketcap.com

It has pumped 102,556% in the last 24 hours and maybe it is a glitch or something, I however have decided to do a review of the token. Before this pump, I didn’t know this token ever existed. My mouth was wide open when I initially went through their website.

I decided to review the EVDC token, to investigate its legitimacy. So, If you are thinking about FOMOING into EVDC, or maybe you just want to know what the token is about, in simple everyday language. This review is made for you. I have gone through everything  (well, almost everything) about EVDC on your behalf. All you need to do is to find a nice spot to read through this review.

Before I start, you need to know that I’m not a banker or financial expert. I will not be held responsible for your financial decisions. This article is just for educational purposes, consider it a form of entertainment. I’m not here to promote or disparage any coin. I consider my analysis to be objective. If you are not satisfied with the things I say, no problem. You are encouraged to always do your research, whether you agree with me or not.

With that established, let’s get into the main business

First, a little information on what EVDC is, according to coinmarketcap.

“EVDC is a deflationary and decentralized token that will be used as a digital currency to pay for EV charging. EVDC application is the world’s first EV charging application that supports its crypto token. EVDC app will directly connect to the charging stations and let users pay using the EVDC tokens. One of the things we are proud of is the ability to let you charge at a station without a membership account. The algorithm we developed for this creates a guest account for you and then lets you use the particular Charging Station. This happens without the user needing to interfere. We’re trying our best to make the process as smooth as possible for our users.”

Personal Opinion.

When I first read the above lines, I scampered to their website like I was a stranded man in a desert that found an oasis. The idea is huge if you are in tune with the direction the world is heading.  Let’s go on to find out if it is a legit project or just an organized rug pull by some smart-ass criminals.

This article saved our reader millions of dollars.

When I am looking at a relatively unknown token, especially ones like EVDC, pumping on coinmarketcap.com. The below are the things I look out for.

Website

White paper

Market Capitalization

Liquidity Pool

Developers behind EVDC

What investors are saying about EVDC

(If you are a frequent visitor of this website, you should know this. I want to stop writing this, however, 80% of my readership are new people)

I will go on to explain these points, in the following paragraphs.

Website


EVDC’s website is unlike most crypto token websites. You can see that the EVDC token is just an aspect of the EVDC ecosystem. The main product is the EVDC network app that is now available on Google PlayStore and App Store.

The headline on the website is

“Charging the world One EV at a time”

I think that does a great job of introducing what the EVDC network is all about. The website has an e-commerce ring to it, with the presence of a cart at the top right corner.

The description on the website properly begins in the overview section. Where it briefly talked about the EVDC token and the EVDC app. In their own words.

Have you ever been to a charging station? As an EV owner, the most frustrating thing is not being able to charge your EV when you arrive at the charging station. That’s why we areated the EVDC token and an EVDC app.

This is a simple explanation of the problem EVDC have come to solve. How it works followed immediate. Let move on to exploring the white paper.

The White Paper

The mobile app has already been launched. It is live on play store and app store. You can see that the developers are not joking.

The white paper begins with an introduction. It went on to expand the problem EVDC was created to solve. It introduced the mobile application, which is the world’s first Electric vehicle mobile charging application. One of the strongest features of the app is that you won’t have to have a membership account to use it. The application also supports depositing fiat, which would be converted to EVDC tokens, without the use of an exchange platform like Binance.

The token is deflationary, with a total possible supply of 100,000,000 EVDC.   18,000,000,000 was made available for presale. Holders of the token get an incentive of 0.5% on every transaction on DEX. A portion of the profit made through transactions in the app will go to the liquidity pool. While 0.25% of the entire transaction volume will be burned every 7 days.

If you don’t understand what any of these means. It simply means that the EVDC is deliberately designed to become more valuable in the coming years.

Market Cap and Liquidity Pool

On poocoin.app, I noticed two tokens with the EVDC name and ticker. One is the original, while one belongs to a scam wallet. The one with the logo is the scam wallet, while the one that goes by “EV Direct Currency” is the real one. Here’s the original contract address as seen on their website.
0xC3B4C4eF3fE02aD91cB57efda593ed07A9278cc0. Always verify a contract wallet address before you do any transaction with it.

The website says 100 billion, while poocoin says it is 200 billion. This doesn’t look good.

The current market cap according to poocoin. app is $5,851,343. This is a relatively small market cap. It suggests not many people are in on this project yet.

The current Liquidity pool is $107,762. With 46.6% percent locked in a contract. Whilst 24% is in EVDC deployer address. 

EVDC currently has about 13,061 holders on the binance smart chain. This shows that not too many people are in on this project yet. 70% of token has been removed (burned ) from circulation, while the highest holder of the token owns only 3 percent of it. This is healthy. As big market players do not have much stake in the token’s price determination.


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Developer of the EVDC

The team behind EVDC is doxed. EVDC was founded by Mathew Teudor. He describes himself as a serial entrepreneur.  Other team members are Demirel, Tash, and Vlas. This solidifies the legitimacy of this project. There are not many crypto projects that can not boast of a doxxed team. This makes them accountable and attractive to investors with the future in mind.

What Investors are saying about EVDC

I have gone through many social media platforms. From Reddit, Twitter, YouTube, discus.com, and I only saw one negative comment about the token (that guy probably handed his money to the scammers on poocoin). Here are screenshots.

Conclusion

EVDC is a legitimate project that will increasingly become popular, as the world shift towards EVs. The project is futurist. The team is doxxed, it has an important real-world use case. This token might not hug the headlines now, but it will quietly and gradually become big as the world ditch the combustion engine. Maybe one day Elon Musk will tweet about them. I think they have to put more effort into marketing.

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