The GreenMoonZilla token has been pumping for ages. I decided not to do a review that time because, I felt people should know what rebate tokens by now, but boy oh boy. I was wrong.
If you are about to buy GreenMoonZilla because you saw it pumping like hell on coinmarketcap.com, or maybe you are just curious about the token. This review is for you. I have done the investigation and interpretation on your behalf. All you need do is to 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 decisions. This article is just for educational purpose, consider it a form of entertainment. I’m not here to promote or disparage any coin. 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 get ready to rumble!
When I am looking at a new token, to confirm their actual nature (Legit or Scam), 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. For context 80% of my readership are new people)
I will go on to explain these points, in the following paragraphs.
In my opinion, GreenMoonZilla’s website is an average one. Although, I think it is original. The website is SSL secure, which is always a good thing. The background video is distracting. The description begins by telling you.
“Keep Calm and own GreenMoonZilla, it will keep rising”
The above line is a marketing genius. But the problem is, they didn’t tell investors that the rise on the chart, is pointless. Hear them try to confuse potential investors, with what I call cryptospeak.
“GRMZilla is supported by the CTO of GRM. It is satisfied with the demand for stable price increase in the case of chart fluctuations because we initially added an hourly deflation mechanism for tokens in the code, allowing you to obtain stable income while owning GRMZilla! At the same time we have added smart inflation function in our code which will increase the number of your tokens in the right time. We’ve done some complicated math to keep our prices at the right level.”
What is CTO? What is GRM? Did you understand that Nonsense?
Personally, when a crypto website begins to talk like this, it is a red flag. This is not the language of everyday people (investors). The website description, strikes me, as a deliberate attempt to confuse, to obfuscate. The more you look, the less you see.
They became a little clearer here.
“GRMZilla adopts a flexible money supply method, using negative rebases to reduce the total supply of money, so as to increase the market value of each token over time. This means that the total amount of GRMZilla tokens in your wallet will decrease over time, but the market value of each token will increase.”
I’ll begin this paragraph explaining what a “negative rebase” is in the simplest of terms, so you will recognize crap when you see it in the crypto space.
With rebase, charts (the GreenMoonZilla’s chart you saw, that probably persuaded you to consider the token) do not mean anything in the grand scheme of things. The only thing that matters is market capitalization. If you buy and the market cap goes down, the chart goes up, holders sort of lose money, new investors are attracted. But when you buy and the market cap goes up, the chart goes down. The value of the token increases. While this is going on, the mechanism reduces your token by burning them. GreenMoonZilla is built on this confusion mechanism. That’s why rebase mechanism confuses a lot of people because it is not straightforward.
My personal philosophy
if you don’t understand it. Don’t get into it. I don’t have a problem with it being a little complex or confusing.
Where I have a problem with GreenMoonZilla is the admittance of market manipulation. By them saying
“In right time, we will turn on inflation function to increase the amount of tokens of each holders to protect against the risks of sustained deflation”
How do you burn tokens and after burning the tokens, you then create and add more tokens, ‘in the right time’. It doesn’t make any sense to me. It just a never ending circle of confusion.
With GreenMoonZilla there’s no white paper. This is a red flag. Scam coins have been known to not care about things like Whitepaper, because truly, they don’t have anything to write. The token doesn’t have a real-world use case. It just promises that the token will get to 1$. Let’s say it gets to 1$ what then? Everyone gets back their money and goes home? I think this token is a scam coin. It has ticked most of the boxes. But I’m not jumping to any conclusions yet.
Market Cap and Liquidity Pool.
According to poocoin.app, GreenMoonZilla’s market cap is $2,625,414. This is a relatively Ok market cap. It means people have put their money in the token. Which honestly is painful to see. The Liquidity pool is worth $388,302. As for the market cap, this is relatively okay too. However, where I have a problem with the liquidity pool is the fact that 22% of the liquidity pool is not locked in a contract. This makes it susceptible to fraud.
The token has 19,382 holders. This is generally seen as good. But, knowing this token for what it is, these holders can be classified as ignorant investors.
Developers behind the coin
The creators of GreenMoonZilla are unknown. The developers aren’t doxxed. This is another red flag.
What people are saying about the coin
Just know that youtube creators seem not to care about their viewers that much. The reason is that many videos makers out there on youtube just read chats without doing proper research. They care more about their views than the impact of their views (money). Be careful who you watch, don’t let them drive you into a financial mess. Here’s what people are saying about GreenMoonZilla on youtube.
On Twitter, many people seem to have also recognized the coin to be a scam. Here’s a screenshot on their twitter page.
On Discus.com, a lot of investors are gnashing their teeth in pain and regret. One even went as far as cursing the creators of GreenMoonZilla.
GreenMoonZilla has ticked all the boxes of a scam coin that leverages investors’ ignorance of what rebase mechanism is to prey on them. The token has no real-world use case. It is designed to confuse and frustrate while pretending to be legit. You’d always see it at the top of CMC, that it is because it was designed to be that way. But, in case, you feel like I’m talking rubbish and go ahead to buy. Look at the market cap before buying. Don’t look at the price.
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