Cryptocurrency

a campaign increased more than five times the price of a token in 2 days

With the enthusiasm for the ICO already almost into extinction, a new boom attracts the lovers of the emotions fleeting, and the promises of easy money: the ecosystem DeFi (finance decentralized). Every day seems to arise a new project DeFi.

The token Tendies (TENDS), whose name in Spanish can be translated as “canes chicken fried”, was one of the curious dishes recently added to the menu DeFi, which leaves no palate unfulfilled.

Far from the formalities that might be expected in a financial product, the marketing campaign of this token is mainly based on the memes, the humor, the creation of a community of fans and mentions on the part of recognized influencers in the world of crypto.

Through the account of Twitter official @TendiesCrypto and accounts criptofans of TENDS to replicate information, the enthusiasts give to know the news related to the token and to promote their acquisition, that can be done in Balancer, Uniswap, HotBit and Poloniex.

Image retuiteada by @TendiesCrypto with which they ask the CEO of Binance, Changpeng Zhao, who incorporates this token in the house of sharing, which he leads. Source: @HodlThatShit / Twitter.com

One of these followers of Tendies compared to the token with the criptomoneda parody Dogecoin (DOGE) and said that it TENDS is the DOGE of was DeFi.

Exactly the same comparison was done days ago with the token Asuka, who turned out to be the first scam of exit (or exit-scam) in DeFi, as reported by Breaking News.

At least the token Asuka had a developer recognized. The creators of Tendies, however, remain in anonymity while promoting more people to buy this token to qualify it as “the next generation of currency autonomous and hyper-deflationary”.

Its developers describe Tendies as “a social experiment” and, by way of disclaimer, make it clear that “as with all investments in cryptocurrencies, the risk is always present and must be taken into account before you participate.”

In terms of influencers, the creator of Tron, Justin Sun, stated publicly that he has joined to the channel of Discord of Tendies. After the fact, the Twitter accounts apologists of TENDS started to predict the rise in the price.

The initial campaign of memes and influencers of this project gave good results. With a starting price of USD 0,18 30 July, reached a maximum of 0.93 dollars on the 1st of August.

Those who bought at peak will have to wait for new memes or bombastic statements to, perhaps, recover their investment, because at the time of writing this article each Tendie is trading at USD 0,66.

“A good recipe for a scam”

The voices against TENDS already began to be heard. Outstanding among them is the statement of the Association Francophone Users of Cryptocurrencies, via the community that you maintain on Twitter.

This entity expressed its rejection to the incorporation of the pair TENDS/USDT in Poloniex, exchange house which was accused of being able to list anything to do volume”.

In addition, they referred to TENDS as a shitcoin style that arose in 2014, and converted into a token ERC20 and “with a little bit of sauce DeFi”. All this, according to them, “it is a good recipe for a scam”.

How it produces the “hyper-deflation” in Tendies

The protocol governing this token includes a process by which 4% of the tokens are blocked in a pool is drained daily. Any user can make the call to drain the pool and by doing so it takes the 1% of the tokens drained.

The tokens drained, are sent to two different addresses. The first is the address 0x00000, an address of Ethereum that no one can access. There is burning 51% of the TENDS drained.

The second address, called tendies bucket, receives 48% of the tokens drained soils that are distributed among the main holders of the tokens every three days. Anyone can make the call for distribute, though there’s a special reward for those who do.

The developer team clarified that none of its members can have access to the fund because the contract smart ensures that no one can control Tendies. “The liquidity facility initial is provided at 100% with funds from pre-sales”, added on the official Website.

About the author

Belinda Carey

Belinda Carey

A finance girl by education, Belinda has been drawn to cryptocurrencies ever since Bitcoin first emerged in the 2009. Nearly a decade later, Belinda is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies.

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