Yesterday, crazy “pump” on coin market cap made me know about the futura finance token. The token had “pumped” a billion percent!. It however, was a glitch, which is becoming really common with coin market cap.
The futura finance team had this to say about the ‘pump’ on twitter.
“We are aware of what price is showing in CMC – no this is not a “fake pump” or manipulation, it’s just something glitching within CMC. You can see our actual price on dextools, poocoin, coingecko, etc. Apologies for any confusion!”
I became really interested in the token, because of their seeming ‘honesty’. I dived in, to find out if its a legit project or it is like many others scam coin out there.
If you are planning to buy future finance 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 got you.
I have done all the “hard work” and investigation on your behalf. All you need do, is to grab a snack and read through this article
Before I begin, I’ll like to let you know that
I’m not a banker or financial expert. I will not be held responsible for your financial decision or indecision. This article is just a guide and nothing more. I’m not here to promote or disparage any coin or tolen. I consider my analysis to be objective and fair. If you are not satisfied by the things I say, you can always do your own research.
Ready? Let’s Go
Whenever I am a new investigating, unfamiliar tokens, and crypto projects, the below are the things I look out for.
Developers behind the project
What people are saying about the token
I will go on shed more light on the above listed items, as it relates futura finace token in the following paragraphs.
Futura finance token’s website, I must admit is nice looking. Asides the Halloween inspired, scary looking design that hits you in the face as you the website loads. It’s a beautiful website that was designed by a professional.
The website is obviously new. It was launched on the 16th of October 2021.
I Consumed the text on the website. In an effort to make sense of their claim,
Here’s an excerpt from the website.
The future of reflection ecosystem token has arrived. Hold futura finance token and automatically earn rewards. Take control of your own rewards buy choosing from ADA, BNB, BUSD, CAKE, DOT, ETH, FFT or a combination of tokens in the futura Dapp. Auto claim rewards every 12 hours and automatically reinvest tokens earnings to multiply your profit.
The word/phrase that cases confusion here is “reflection ecosystem token“
Reflection tokenomics simply works by charging a penalty tax (usually in percentages) on each transaction and distributing the fee to all token holders according to the percentage of assets they are holding.
Tokens like safe-moon and many other crypto asset have adopted this brand of tokenomics. Because, it sort of discourages people from selling it.
The big claim is that, when you invest in futura finance token, you can claim rewards every 12 hours and reinvest tokens earnings to multiply your profit. This is a huge a promise. Honestly now, this signals a red flag to me. But, I’m open to knowing.
Whether this claim is true or false, read on to find out.
Social media Links
Futura Finance token twitter account has has over 2,485 followers. Most of them seem to come from Asia and some from America. These are not bad numbers for a coin released less than two weeks ago. I like that people are allowed express themselves on their pages on social media.
They apparently do not have a YouTube account yet. This makes them seem unserious.
Future finance token telegram, has about 3995 members, as at the time of writing. I monitored conversations in the telegram group, where the mood seem upbeat. They seem to be delivering on their reward claim.
Developers behind the token
On the website, the developers behind the futura token are unknown. They just listed their first names (it looks like their first names) and the position they occupy, without providing or connecting a link to their social media handles. There was also no pictures provided. This is another red flag for me. I always say this. If you aren’t sold on what you are offering as to put yourself out there side by side with that thing. Then your offer is probably not good enough for the market. Except you are maybe monero or bitcoin. You don’t have a right to be anonymous.
Reading the white paper, this is what I came to understand.
Futura Finance is a yield generating contracts on the Binance Smart Chain. According to the white paper, If you hold Futura Finance Token, you will earn rewards that are collected and deposited into your account every 12 hours. You have the ability to take control of your reflection payouts by choosing from BNB, BUSD, ETH, ADA, DOT, FFT, or a combination of tokens in the Futura dApp. There is also an option to automatically reinvest your earnings to multiply profits.
The unique thing about Futura finance is built in ability that makes it stay relevant over time. The Futura Finance Token contract has a functionality which allows for the addition of new tokens in the future as decided on by the community. This function will allow for Futura to pursue mutually-beneficial relationships with other projects as the landscape of BSC changes.
Futura reflection is just the beginning of a larger ecosystem that is already in the works for FFT.
As they grow they plan to introduce staking pools, an NFT marketplace, and gamification within their dApp, and that’s just to start.
Going through Futura finance white paper the first thing that you read is this.
“PURPOSE: The intention of this whitepaper is to provide insight into the team, function, and life of the Futura Finance token built on the Binance Smart Chain…”
While they covered almost everything, little was said about the ‘team’, aside a page that links you to the ‘team’s’ wallet address.
Market Cap and Liquidity Pool
Checking popcoin.app and bscscan.com Futura Finance has a respectable market cap of $2,020,000. It also has a liquidity
718.55 BNB ($356,740). Although, I could not confirm the lock time of the liquidity pool. The biggest holders of the coin is the liquidity pool with the name PanCakeS was V2. FFT 43 with 17.6 of the coin. The other 4,939 (and counting) holders of the Futura Finance token own less than 4% as at time of writing. This outlook is generally healthy and good. The possibility of a rug pull or a honey pot has greatly been reduced.
What people are saying about the token
I also looked out for what early investors are saying about the coin. So I checked their telegram group, the mood seem to be upbeat. There’s no one calling it a scam. It’s not a toxic atmosphere.
I went on YouTube, very few folks seem to have done anything on the token. Except for a sihk YouTuber whose comment section is filled with curious people like you. Here are some of the comment on his YouTube video about futura video.
In conclusion, this seem like a safe token to invest in. You however have to believe in the project and you must be willing to ride it out with the people behind it, as you’ll be greatly lose if you want to pull out of it, after investing . It is clearly not a pump and dump scheme.