Solar Energy Coin Review : Legit or Scam

Solar Energy coin has pumped 48,170% within the last 24 hours. Taking the number one spot on coinmarketcap.com’s top gainer’s list. If you know coinmarketcap very well, you’d know they are susceptible to glitches that make obscure tokens pump to high heavens. I do not think this pump is a glitch. I have followed Solar Energy closely and I can see the impact of this pump on the overall growth of the token.

If you are doing your research, looking to invest in Solar Energy coin or you are already an investor, in Solar Energy coin. This review was written with you in mind. I have done the checks and all the interpretations you need in simple, clear language. All you need to do is to pay attention.

However, you need to know that

“I’m not a banker or financial expert. I will not be held responsible for your financial decisions. This review is just for educational purposes, consider it a form of entertainment. I’m not here to promote or disparage any coin or token. I consider my analysis to be objective. You are encouraged to do your research whether you agree with me or not.”

When I am looking at relatively unfamiliar tokens like Solar Energy coins, to confirm their actual nature (Legit or Scam), the below are the things I look out for.

Website

White paper

Market Capitalization

Liquidity Pool

Developers behind the project

What people are saying about the Bezoge Earth

(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

The website is SSL secure, (my first point of check) and looks well made. I like the greyscale background, it looks mature and in harmony with the yellow and white color placed upon it. The website is easy on the eyes,  the developers did a good job with the look of the website.

The description begins with a rather bizarre headline.

Solar Energy. A smart way to see your money grow? That doesn’t sit well with my spirit. But make of it what you want.

The white paper and audit report followed immediately. Solar Energy claims to have gotten a Techrate.org audit of their contract code. I checked and that claim turned out to be a big lie.

Their code was not audited by techrate. The report investors downloaded through their website was edited to include their name and smart contract address. A simple google search of ‘Solar Energy techrate report’ and say OkraTech techrate report” (Okratech is a token legitimately audited by techrate. This is not an endorsement of the token) will clear your doubts.

Fake Solar Energy Techrate’s report. (If you look closely, you’d notice the difference)
A real techrate report.

To think Techrate does free audits of contract codes. Solar Energy’s contract code is not to be trusted.

Scrolling down, solar energy introduces itself by saying.


Could this be the next Big memecoin?


Solar Energy ($SEG) is a deflationary BEP20 token from Binance Smart Chain… Solar Energy was born with the purpose of meeting the needs of traditional investors and adapting to the world of cryptoactives. A self-sustaining currency. A decentralized ecosystem that has BUSD as rewards for investors.

What is cryptoactives? I have no idea what these solar energy devs are talking about. Although, I recognize this claim, (“that has BUSD as rewards for investors”) as a useless shit coin classic.

Tokenomics

Solar energy has a total supply of 1 billion. It charges investors a 17% tax upon transactions on the Solar energy ecosystem (buy and sell). The breakdown of the tax is 2% is sent to the liquidity pool,  5% is sent to holders of the currency, and a massive 10% is sent to plants and marketing. The tax breakdown is extortionist in nature. This is a red flag for me. Another red flag I saw is this

What is this? Are the devs hustling for graphic design and web development jobs too? It makes the dev team look scatter brain and unprofessional.

White paper

Solar Energy’s white paper is unlike its website. It looks chaotic and unprofessional. Investors will have a hard time reading through the paper, and the truth is, there’s hardly anything different in it. It’s the same information from the website made in pdf. I however want to talk about a few things. One of them is “the goal’ of Solar Energy.

The immediate goal of Solar Energy is to acquire land in Northeast Brazil. This dev team strikes me like people who are looking to start a solar energy business but do not have the funds. Solar Energy coin is their source of fundraising.

Market Capitalization & Liquidity Pool

According to poocoin.app,  Solar Energy’s market cap is $4, 681, 271. This market cap is growing massively because I checked the market cap (yesterday) when it was barely $100,000.

The liquidity pool is growing too. It is currently $132,602. Yesterday, it was around 26k. This shows several investors have invested in the project, making the liquidity pool grow. In bscscan, 57.9% of the liquidity pool is burnt. While 39.3%  is locked in a contract. Strangely, this wasn’t exactly stated on the website and the white paper.

Another thing to put into consideration is the fact that 9000 investors are holding this coin. Yesterday when I checked, one wallet owned 10% of the entire coin. This I saw as a red flag. Today, however, I have noticed two wallets holding six and five percent. This shows there are whales in the solar energy ecosystem. This is still a red flag. They could dump the coin on small investors.

Developers of Solar Energy

The developers behind Solar Energy made their names and pictures available on the website. Indicating they are doxxed. But a simple search of their names on google will leave you asking more questions. If truly these are their genuine names, they are unknown entities in the solar space in brazil. Else, their doxxing is fake.

What investors are saying about Solar Energy.

On YouTube, there isn’t much to talk about. Not many people have done anything about the coin. But, I saw a YouTube video that suggests the coin is a scam.

In my opinion, a lot of things seem sketchy about Solar Energy.  This is a project that was launched in the third quarter of this year, it barely had 26k as its liquidity pool as of yesterday, it fake audit report, it seeming fake doxxed team. It hasn’t been listed on coingecko. This token is a scam waiting to happen. If you invested in this token to hold long term, I’m praying for you.