I first noticed Scientia 6 days ago on coinmarketcap.com. I checked it. Scientia claims to be a science-centric community token. I wanted to do a review, but I got occupied by other tokens. It has consistently occupied the gainer’s list. Today, as I was going through quora, as I sometimes do when I need to distract myself, I stumbled on this question, is Scientia token legit or a scam? This question has motivated me to do this review.
Therefore, if you are looking to invest in Scientia, curious or maybe you are already an investor. This review was made with you in mind. I have done the checks. All you need to do is to pay attention.
You first 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. You are always encouraged to do your research whether you agree with me or not.
With that out of the way, let’s get started
When I am looking at relatively unfamiliar tokens, 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 by now. For context 80% of my readership are new readers, that’s why I have to repeat myself most times)
Website
Scientia’s website looks boring to me. It is unlike a conventional crypto website. With its weird font and edited react copy logo (react is a web dev framework, that enables web developers to combine HTML, CSS, and Javascript).
The name Scientia is trademarked and belongs to a fintech consulting firm, based in the US. This token has no connection with this firm.
These are red flags to me. The logo is an edited ‘copy’. The name is a copy. I’m a patient man, I’m not diving into conclusions yet.
The description on the website begins on a rocky note. A notice of ‘be aware of scammers’ first hits you as you try to make sense of the website.
I have to say that at this point, I have never seen anything like this, in all my time reviewing tokens. Make of that what you want.
Scrolling down, you get to read what Scientia is about. I’ll try to summarize it, to the best of my ability.
Scientia claims to be a science and community-centric token, that seeks to support research in academia and science-related businesses. The ultimate goal is to establish ‘a trust’ (whatever that means). The big claim is that the token is destined to progressively rise to $314, 159 in the next 314 days, due to its negative rebase mechanism.
The ‘problem’ Scientia was created to solve was made clear in the ‘Scientia idea’ section of the website. Which is to take away or reduce the nationalistic, bureaucratic, and slow nature of conventional science funding.
Personal opinion, if you think about it, the reasons are legitimate. But removing government control of science seems far-fetched. Probably unrealistic at this stage in the life circle of blockchain technology.
Scientia’s “progress” is divided into 3 phases. Accumulation phase, trust phase, and the scientia trust. I’ll do my best to explain these as briefly as possible.
The accumulation phase
This phase is what is currently ongoing. Here the dev team is looking to grow Scientia’s liquidity pool to be opened in the next 314 days when 1 scientia is projected to reach $314,000+. Scientia uses a negative rebase model that guarantees the price rises.14% every 6 hours.
Interpretation to those who are probably lost. With rebase tokens charts (the Scientia’s chart you saw, that attracted you to scientia in the first place) doesn’t mean anything in the grand scheme of things. The only things that matters are the market capitalization and the total supply of the coin. Scientia is programmed to keep rising, but this rise will not reflect on your investment, rather, your tokens will keep reducing, whilst your investment remains negatively unstable. The whole Scientia token is built on this mechanism that confuses a lot of people.
The trust phase
Here scientia will open the liquidity pool. And share an unspecified percentage of the liquidity pool, amongst holders of the token. As a reward for holding after the slated 314 days.
Personal opinion
First, this is one of a kind and hilarious. The liquidity pool will be unlocked. Making this token untradable (rug pulled), but another token will emerge from the ashes of this token. After holders have received “rewards” for holding and believing the mission and vision.
The scientia trust
Here this is when the “company” establishes properly. With the money gathered from the liquidity pool, they’ll begin investing and funding science and researches that will make scientia co-own research projects. According to them
“The SCIENTIA Trust (company, a venture capitalist) will be fundamentally different from any other venture capital or research funding institution that has existed so far. It is founded around one core principle: If You receive funding from the SCIENTIA Community, You must give back.”
Tokenomics
The tokenomics lets us know scientia deflationary token. It seeks to reward holders for holding. Here’s the breakdown.
Scientia charges investors 9.42% upon every transaction (anytime you buy or sell scientia). This transaction tax is directed to three wallets. The first 3.14% goes to the liquidity pool, the next 3.14% goes to the marketing wallet. The last one 3.14% buys back the token for burning. The initial total supply of Scientia is 1 quadrillion. For perspective, 1,000,000,000,000,000.
Market Cap and Liquidity Pool
On poocoin and bscscan, scientia has a total supply of 32, 126, 893. This is not a good look. The website and white paper can’t say something and crypto apps will be saying other things. There is no consistency of data. Red flag. The market cap is $1, 092, 777. This market cap is relatively low. While the liquidity pool is $230,169. 98% of the liquidity pool is under one form of contract or the other. I could not determine the length of the contract at the time of writing this review.
There are 6,459 holders of Scientia. This is impressive If you ask me. For a token that just got launched some days ago.
Developers of Scientia
The developers of Scientia are unknown. With one of Scientia’s values being transparency, you’d think the Developers will be proud to put a face on the ‘idea’. This is a red flag.
What investors are saying about Scientia
Many people bought into this project without having a clue what it is about. You can feel the frustration in investors’ tone in the comment section. Scientia turned off its comment section on YouTube, this is a red flag.
Here is what people are saying about the token on discuss.com
On youtube, this is what investors are saying.
Conclusion
You can’t categorically call this token a scam. Its intention was made clear, it is just that investors don’t understand what they bought into. Scientia’s way of attracting investment is deceptive and its intention is anti investors. The token has many scam attributes. If you invested in this token to multiply your money, forget about it. Just see it as a donation to ‘faceless copycats’ masquerading as science promoters, who desire to build a venture capital company. Whether this venture capital company will be built and be accountable to the community is anyone’s guess.
If you enjoyed this review, let me know what you think and share it with your friends, if possible. Check out others I have done here.
Great review henry
Thank you.
Henry, Do you think your little baby doge can be trusted? Legit or scam? https://www.bsc.news/post/the-biggest-problem-with-climate-change-and-how-you-can-fix-it
I will have to check that out. My friend was telling me about that token yesterday or so. But I wasn’t paying attention.
Hey Henry, thanks for your reviews, they have helped me know what to look for when I’m doing my own research. I would love to know your opinion on Bezoge Earth and ether terrestrial ($ET). Thanks again
Hi Nick. I’ll look at the tokens. If I think it is worth the effort, I’ll write a review. If you want a short answer from me, let me know.
Update Nick. I’m doing a review of them both. They look interesting.
Excellent review. Thank you for the alert.
You are welcome Andrian.
Very insightful, Loved it! Thanks a lot
Thanks Bashar.
scam, half my money gone. dont buy it
Thanks for your contribution Trip P. The developers steal your money through their exorbitant (buy and sell ) taxes.
Lol.
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Thank you!