King Floki Review: Legit or Scam?

Hey guys, first of all, I have to apologize for not reviewing any coin yesterday. I had a mental fog that wouldn’t allow me to write anything, even arsenal’s win against Newcastle wasn’t enough motivation. 

That said, King floki is the new meme token doing numbers in this bear season. It has occupied the top gainer’s section for more than 24 hours.  Like I always do, we are going to be dissecting King Floki, to find out, if King floki is another legitimate token or it is another fucked up, scam coin.

If you are considering investing in king Floki, or maybe you are already an investor. This review is for you. I have checked everything (well, almost everything) on your behalf. All you need to do is 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 and fair. 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.

When I am looking at a new token like King floki, to confirm its actual nature, the below are the things I look out for.

King Floki’s Website

King Floki’s White paper

Market Capitalization

Liquidity Pool

Developers behind  King Floki ($KING)

What people are saying about King Floki

(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)

King Floki’s Website

King floki’s website is effective and functional. In my opinion, King floki’s website is not the most beautiful or most creative. But it does the job. One of the things I like about King floki’s website is the SSL certificate. Which shows a subtle level of seriousness on the part of the developers. King floki’s description takes the “Us against them” approach.

“All Floki Coins must now bow down to one true leader, King Floki!”

I think the above is a marketing genius. People are always looking for rivalries and competitions. That strong headline subtly introduces the task that is before willing investors.


Heard about Etherconnect? Read the review here


King floki’s website continues by introducing itself and making promises of giveaways. This is how they put it.

“An exciting new token on the BSC with huge rewards for holding tokens along with a weekly lottery system giving away escapes to Dubai & other locations, luxury watches along with a Tesla Model Y when $25 Million market cap is reached”

This is interesting since all my time reviewing crypto tokens, I have never seen anything like this. If there’s a coin that has this promise, kindly let me know in the comment section. I’m honestly curious to know if there has been any promise/offer like this.

Investors need to be aware of the fact that the giveaway begins once king floki reaches a $25 million market cap. As of the time of writing, King floki’s market cap is somewhere around $6 million.

Tokenomics

King floki’s tokenomics seems complex. I’ll try to break it down, so investors understand fully what they are signing up for.

When you buy (investing in) king floki, you are compelled to pay an 11% tax (11% of your investment). This is how it is broken down.

2% of your investment is distributed to holders, this encourages holders to hold, as they receive passive income just holding the token. 3% of your investment is distributed to the lottery wallet, which makes the lottery King floki afford to run the lottery they promised. Again, 3% is distributed to the liquidity pool, this makes the token more liquid as buying and selling occur.  3% then goes to the marketing wallet, which is obvious.

When you want to sell king floki, you are compelled to pay a 15% tax. This is how it was broken down.

3% of your take profit or loss is distributed to holders, this encourages and rewards holders to keep holding, as they receive passive income just holding the token. 4% of your take profit or loss is distributed to the lottery wallet, which makes King floki lottery afford to run the lottery they promised. Again, 4% is distributed to the liquidity pool, this makes the token more liquid as buying and selling occur.  3% then goes to the marketing wallet, which is obvious.

In my opinion,

The tax is heavy. It discourages selling. The king floki devs can argue that there are tokens that charge up to 17% tax.

A road map followed immediately, which  I do not want to dwell on but for the audits

King floki smart contract code has been audited by interfinenetwork. Before this review, I have never heard of this smart contract auditing firm. So, interfinetwork’s antecedence and pedigree is unknown.

King Floki’s White Paper

The developers behind king floki do not have any regard for white papers. This shows they are probably inexperienced or maybe careless. King floki coin doesn’t have white paper. That’s a red flag in my opinion.

Market Capitalization and Liquidity Pool

King Floki’s market cap (this is bound to change according to king floki coin’s performance in the market ) currently sits around $6, 830, 659. This is a relatively low market cap, it shows investors are already buying into the project. This market cap is bound to grow beyond this level because the token is still very new in the market.

King Floki’s liquidity pool is currently $510,561 (this is bound to change according to king floki coin’s performance in the market ). 75% of King floki’s $500k+ liquidity pool is locked in a contract. I cannot tell the time frame of the lock. While the remaining 25% is unlocked.

In my opinion, this liquidity pool seems sketchy, it leaves a lot of room for doubts. Because these days, genuine developers announce the lock time frame of their project, while the ones committed to the long-term growth of the token renounce and make the liquidity pool permanently out of their reach.

Developers of King Floki

King floki has a doxxed team. The owner of King Floki is a 19-year-old English boy called Daniel Dunne. Daniel just finished his A levels, where he studied business, Finance, and ICT. The link to his Twitter, Instagram, and telegram handles are attached.

Other team members are Harrison Wheatley, who is in college, Waleed Baig, and Kai Skeggs.

You can tell these are young, exposed boys trying to do something in the crypto space. You can also tell they are inexperienced and will make mistakes along the way.

What investors are saying about King Floki

On YouTube, investors are optimistic about the token. Here are some of the reactions.

On telegram, investors are encouraged to hold their king floki “bag”. The air is that of optimism in the project.

Conclusion

This token is a missed bag for me. You can see the honesty in the project. The parts where an observer will have doubts is the liquidity pool, ownership, and the lack of white paper. If you decide to invest in this token, be aware of the lock time frame of the liquidity pool. The developers are young people and lacking inexperience, that’s a major concern. Are you going to trust bunch of unknown 19 year olds with your money? I definitely will not. Other than those, this token seem fine, if the dev team stick to the initial plan.

If you enjoyed this review or you disagree with me, let me know. You can also share this with your friends on social media.

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3 Comments

  1. i am trying to sell king floki from last 24 hours but my transactions not going through. transaction reverted error coming on all slippage.

    • Use 12-15 slippage. You need to join their telegram group. Here’s a message from the dev team.

      “Hi guys, a few people had some wallet issues today that are easily solved, we are collecting a list for Danny to sort that out for those that experienced it, he has just had a rough day in his personal life today and will be on tonight to sort that.


      Regarding marketing, we have CoinGecko top spot coming around 1am UTC (approx), Dextools trending following this and crypto.com ads, three of the biggest places you can market crypto worldwide.

      Finally, those that held the dip, congratulations, you received reflection tokens, so as it goes back up, you will have a higher $$ value than before just for not paper handing.

      Today has been stressful but all the same it got rid of paper hands per say that would have created a larger “dump” at higher market caps. The next 48hrs of marketing is insane and the marketing wallet is still huge.

      Finally, we are looking for a voice chat mod and extra chat moderators to help Danny and the team to keep the voice chat permanently open.”

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