Luffy Inu Token Review : Legit or Scam?

I have been meaning to do a review of Luffy Inu for some time now, but my eyes are always on the top gainer’s section on coinmarketcap.com. I’m forcing myself to do a review of this token before it hits the mainstream. Like Goku Inu, Luffy Inu is an anime-themed token that hasn’t made it yet. Not many people know about Luffy Inu. I’m writing this review in anticipation of what is coming for the token.

If you are new to knowledgegapexpert.com or my pattern of review. I check coins/tokens with clarity, in a tone every day people understand. The goal is not to promote or disparage any of them. I see shit, I call it shit. I see a gem, I call it a gem. I do this to help investors to differentiate between the safe and the unsafe tokens. Many investors have fallen prey to scammers. I try to help investors prevent that with my reviews.

I start my reviews by listing out the things I check, as regards the token I’m reviewing. These things are usually,

The Website

The White paper

The Liquidity pool

The Market Cap

The Developers of the token

What people are saying about the token on the various websites.

But before I do that, here is Luffy Inu’s backstory, according to coinmarketcap.com

Luffy was born on August 4th, 2021 with a single mission, building an entire ecosystem for holders and fans alike. Luffy is built on a foundation of transparency and open communication with the community. Day 1 burns and renouncing the contract put the full control of the Luffy token in the hands of every holder. Core team Luffy was founded by CEO Terry. Almost immediately after launch, Luffy became very popular and several community members approached Terry with a desire to help. After working with each person, Terry selected key individuals who are proven experts in their specific area of focus. This allows Luffy to grow exponentially as each member contributes to the overall mission.

Personal Opinion

Luffy inu has a doxxed team, the creator has renounced ownership of the token. These are interesting and good first impressions if you ask me. Let’s go into reviewing the website.

Website

In my opinion, there’s nothing spectacular about Luffy Inu’s website. It can best be described as slightly above average. The multiple clashing colors make you want to hurry through the website, it is hard on the eyes. However,  I like the fact it is secure, with an SSL certificate.  The description begins with a big-ass headline.

The description continues by properly introducing what Luffy is all about. According to the website.

Luffy is a community-driven token running on the Ethereum Network. The Luffy metaverse will include; NFT Marketplace, Dex Platform, and Interactive Games.”

So, it is a meme token (aka, community-driven), that claims to have the ambition of creating a real-world, problem-solving platform.

Tokenomics

Luffy Inu is a reflection and deflationary token. Reflection simply means it rewards holders of the token a fixed percent upon every transaction on the Luffy Inu ecosystem. Deflationary means Luffy Inu has deliberately been fashioned to be more valuable as years go by.

Luffy Inu charges investors a 9% tax for each transaction (buy and sell). It is through these taxes it rewards holders with 3%. The liquidity pool gets 2% from the tax,  2% goes to marketing while the remaining 2% is burnt (removed from circulation).

Luffy Inu had a total supply of 100 quadrillion. 50% of the total supply was immediately burnt upon launch, while a total of 2.5 trillion has been gradually removed over time through transactions in the Luffy ecosystem. This means the current circulating supply is 47 trillion. You can see that Luffy inu has become rarer and more valuable, this will continue.

This review saved many of our readers from being scammed

White Paper

Luffy Inu’s white paper is an 11-page pdf that contains the Luffy story. The white paper is an absolute joy to read. The style of writing is simple and understandable. You’d think you are reading manga. You can download the white paper here.

There’s no need to analyze what was said in the white because I believe it is clear enough already.

Market Capitalization and Liquidity Pool

According to Dextoo.io, Luffy Inu’s market cap is an impressive $98, 757, 567. It is less than $2 million away from being above $100 million.  That is huge. This token is seemingly destined to the top.

At the time of writing, I could not confirm whether the liquidity pool has been (burnt) sent to a dead address, making it inaccessible to even the creators. Therefore, I can not validate the developer’s claim of a 100% liquidity burn.

On Uniswap, the liquidity pool is valued at $ 4 million+. This is a good liquidity pool. Luffy Inu token currently has 14,000+ holders. This is a great piece of news. It means the project has attracted many investors, it is bound to attract more.

Developers of the token

The developers of  Luffy token are doxxed. On the website, you can see the pictures of the core team. The founder and C.E.O’s name is Terry (a full name would have been better). Terry has renounced and transferred ownership of the project to the community. This is good.  Many meme token founders are ‘Robert Mugabes’, sit tight, and autocratic. Yet, they parrot ‘community driven’ as their lives depend on it.

What investors are saying about Luffy Inu

On Twitter, Luffy Inu has about 28k  followers. For a token that was launched in August, that seems like an inorganic following. If you look carefully, you’d realize Luffy Inu’s tweeter account was opened in 2012.

This suggests that their account was bought from a Twitter influencer or something. Is this a red flag? Maybe. 

Here is what people are saying about the token on twitter.

On YouTube, investors are bullish about Luffy as many are expecting great things from it. You can tell the token is going places. It will progressively grow and eventually many people will FOMO into it.

On telegram, Luffy Inu has about 5k + members in the ‘community. Investors are pumped and expectant. Members are expressive and optimistic.

Conclusion

Luffy Inu is legitimate. Owners are reasonably transparent. It is my hope there are plans to make it a multi-chain token, it being only on the ethereum blockchain is discouraging to many investors, because the gas fees on ethereum are exorbitant.  I’m however confident this token will gradually become very popular in the coming years. The only issue I have with it is tweeter (which isn’t an issue) and the fact they didn’t provide a direct link for investors to verify their claim to a 100% burnt liquidity.

Please, this is not investment advice. Crypto is a risky form of investment. Invest responsibly.

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14 Comments

  1. hello
    Thank you for your work
    can you look at DogeZilla
    looks like their liquidity pool going to unlock in 1st Jan and they sey
    “If the fund pool is permanently locked before the destruction is started, then our great destruction plan will not be realized. Please fully trust our dear Mr. 9zeroes and dogezilla team. ”
    https://twitter.com/robertniupi/status/1462013099033051140?s=20

    looks like they want to burn a huge amount in 2st Jan
    do they really have to do it for burning reason?
    i wanted to buy 40$ this toke and by mistak Bought 400$ and thats alot off mony for me

  2. Pictures and first names do not make a doxed team. Video of the team would but anyone can post a picture to a website of anyone.

  3. about the renouncement of the the ownership the techrate audit says:
    Owner privileges (In the period when the owner is not
    renounced)
    • Owner can change pair and router addresses.
    • Owner can enable limit.
    • Owner can change the tax and liquidity fee.
    • Owner can change the maximum transaction amount.
    • Owner can exclude from the fee.
    • Owner can lock and unlock. By the way, using these functions the
    owner could retake privileges even after the ownership was
    renounced.
    could you please tell me what do you think about this.
    thank you.

    • Hey man! Thanks for reaching out. About your concerns, what it means is that, even though the contract has been renounced. It could still be taken over. I understand this move by the dev. Sometimes, a totally renounced contract could be mean the death of a project. This is because, the contract becomes rigid, incapable of change. Sometimes, certain market trends might render a contract obsolete. That line enables Luffy Inu to be adaptive when there’s a need for change to occur. I think its a good thing. In this space, you need to have significant trust in the devs you want to bet on. However, invest what you can afford to lose. Kindly subscribe to my YouTube channel. I’ll be appreciate that. Thank you. https://www.youtube.com/channel/UCnQ0PvlQpDUd4LbrFCb3GCA

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