Jacy Token Review: A Gem or Another Scam?

I bumped into a conversation on Reddit that I found interesting. If you are regular on this website, you’d know Reddit is one of my favorite tools for the scouting of tokens, both new and old. In that conversation, almost every poster seem to have agreed that Jacy and a few other coins are the next to go parabolic like Shiba or Saitama Inu. Jacy is not a new token to me. I did a quick check a few months ago, it didn’t really interest me. I went back to check the token on coingecko…what I saw was shocking, to say the least.

Jacy token has pumped 23726.6% since it migrated to a new contract some weeks ago. My investigation into this token shows there’s a back story to pump. Stay with me to find out what really happened.

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What is Jacy Token?

This review of Jacy token hopes to find out whether the token is a scam coin or a legit one. Before I go into reviewing Jacy token. You need to understand that. I’m not a banker or financial expert. I will not be held responsible for your financial decisions. This review is for educational purposes, consider it a form of entertainment. I did not produce this review to promote or disparage Jacy token. I consider the analysis to be fair. You are encouraged to do your research whether or not you are satisfied with the things I say. With that said, let us find out what Jacy token is.

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Jacy token shortly and clearly describes itself as a community-run cryptocurrency that thrives on your involvement. We look forward to talking with you and having you join us on this adventure.

I like the honesty and transparency in these words. You can see they are not trying to sell you some white elephant project. They are offering investors a community, to become part of. Which is an honest and strong appeal, in my opinion.

Now, if you think these words are honest. The white paper is even more honest. Through the white paper, we found out that, the original developers of Jacy token rugged pulled (that is, they stole investor’s money and abandoned the project). However, investors in the project rallied around and revived it. Check out the white paper for the full story.

Jacy’s white paper is one of the most enjoyable white papers I have ever read. You can tell the writer is telling the truth and nothing but the truth. The fact that they achieved 3,000 new holders without marketing says something very unique about the token.

The Jacy community plan to build a swapping platform, an NFT museum that uses blockchain to record the ownership of every digital asset, a gaming platform, a metaverse-like project that is called Verse, a staking platform, a learning Dapp, and a charity that caters for disabled children.

In my opinion, this project is loaded with positives and very unique projects that give it strong utility.

Tokenomics

Jacy has a total supply of 100 quadrillions (jacies). 50% of the total supply has been burnt. The team through the white paper let us know that the remaining tokens from the original contract are to be stored in a wallet designated for future projects. This token value will be locked as well for a period and its usage to be decided preceding the unlock period.

Also Read: Fatoshi Review: 100x Gem or Scam

The buy and sell tax is 9%. This means that whenever an investor decides to buy Jacy Token, a 9% tax is deducted from his initial investment. This buy tax is not exploitative like the buy and sell tax of many projects out there.

Here’s how the 9% tax is used. 

2% Liquidity Pool tax goes directly to the liquidity pool to forever strengthen the project’s price floor.

2% reflections tax goes directly to each holder proportionately from each transaction. For those who do not know. A reflection token rewards loyal holders of the token by giving a certain part of the tax to the holders.

2% goes towards the development of utilities and the project. 2% to marketing to grow the brand. 1% to charity to give back to our communities.

Developers Behind Jacy Token

Although, the token is community-driven. There is a team that handles the day-to-day operations. This team is semi-doxed, in my opinion. Because did not provide links to their verified social media handles.

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Conclusion

In conclusion, I’m confident Jacy token will grow to become one of the most popular tokens this year. It is one of those tokens that give off positivity and is anchored on a strong and rabid community. And it doesn’t end there. The story of how the token turned from being a scam to a wonderful movement sells it off on a humane level. I expect big things from this token going forward. Yes, I think the token is legit and it’s pro-community.

However, token sniffer rates the token a very low 35/100.  According to token sniffer, Jacy is susceptible I become a honey pot. With the source code containing a function that can set a maximum transaction amount.

Another negative is the fact that the contract ownership has not been renounced. Being renounced has it good and bad side. But, the token claims to be community driven. I think it is only fair of the ownership is renounced. There’s a need for the contract to go through an audit. I understand that a Certik audit is underway for the project.

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