Union may have scammed the community They raised $16M from low tier VCs and dropped a worthless token Many projects on the Kaito leaderboard are doing the same thing Here's the story projects won't tell you 🧵
1/ Fundraising ➖ Take any hot narratives like zk, stable coins ➖ Raise funds from tier 3 VCs like Lbank, Gate ➖ Now show the first funding proof and raise from VCs like Polychain, Okx 👉 Now you got enough money to operate for 1 or 2 years
2/ Launch on Kaito leaderboard ➖ List your project by paying a small listing fee ➖ Allocate some tokens to the yappers ➖ Allocate some tokens to Kaito, stKaito stakers and Yapybara holders 👉 Now thousands of accounts will start talking about the project
3/ Announce sale on Kaito launchpad ➖ First announce sale target is $4M ➖ Vesting schedule either 100% or 50% unlock at TGE. Remaining unlocked linearly ➖ Raise funds at the valuation set in the last VC round ➖ Add some boost for yappers ➖ People will commit a lot of money on launchpad ➖ Raise the sale target to $13M without any notice
4/ NFT sale ➖ Launch a big NFT collection ➖ Supply should be above 20K and make it tiered ➖ More tier NFTs = More tokens = More price 👉 This is technically an ICO under the name of NFT mint
5/ Reward ➖ Now launch the token ➖ Reward the top yappers with 5 figure 🪂 ➖ Reward the testnet clickers with dust 👉 Influential accounts with rewards stay silent due to ethics
6/ Listing ➖ Only Upbit listing can save any project ➖ Binance and Coinbase spot listings lost their power to pump the tokens ➖ Binance alpha users will definitely get a share of the rewards and dump it 👉 If you see projects tier 3 and 4 VCs investment with Binance Alpha announcement, then run
7/ Who to blame? ➖ Kaito - This is not the main cause but it is a cause ➖ Projects - Initially, they used Kaito as a marketing tool to generate noise, which was effective in the early stages. However, it is not as successful now. They are just greedy ➖ Binance Alpha - It is a major problem. Imagine you do some tasks by spending money to earn points and use those points to get airdrops from projects you haven't heard of before. Would you hold or dump the tokens right away?
@MaransCrypto See tier 3 and tier 4 investment then don't do it. Binance alpha comes at last .
@MaransCrypto This is True. From my opinion most projects are dumping their tokens on @binance. They might need to realize Projects wont need Binnace. Binance needs the project.
