THELOGICALINDIAN - The badge will acquiesce holders to attempt in online amateur aggressive by the showbut its been labeled a betray
A crypto badge aggressive by the hit Netflix alternation Squid Game has rallied added than 40,000% as several alleged “meme coins” airship in value. However, the badge mechanics attending suspicious.
Squid Game Inspires Token
Squid Game has aggressive a arguable meme coin.
A Binance Smart Chain activity alleged SquidGame has created the SQUID token, able users the adventitious to booty allotment in online amateur based on the hit Netflix show.
Data from CoinMarketCap shows the SQUID badge trading at about $0.012 Tuesday, six canicule afterwards its launch. Since then, the badge appears to accept been swept up in the contempo meme bread mania, skyrocketing over 40,000%.
Each SQUID badge will now set buyers aback $5.44 at columnist time.
On the SquidGame website, the developers accompaniment affairs for an alternate bold area holders can pale SQUID tokens to booty allotment in online amateur aggressive by the Netflix show. Per the project’s whitepaper, anniversary bold requires a altered cardinal of tokens to enter, with the accomplished pale bold set to crave 15,000 SQUID tokens, account about $75,000 at accepted prices.
Each bold requires 456 players to start. In the end, one champ will booty 90% of the pot, with the actual 10% activity to the game’s developers.
The emblematic acceleration of the SQUID token’s amount is partially due to the project’s self-styled “anti-dump mechanism.” Holders are alone able to advertise SQUID according to bisected the affairs ability of the trading pool. The activity additionally states that holders are able to advertise SQUID tokens advisedly by captivation and afire an added badge alleged Marbles.
The “anti-dump mechanism” has resulted in abounding buyers actuality clumsy to advertise their SQUID tokens, arch some to call the activity as a scam.
Over the aftermost week, several alleged “meme tokens” accept soared in value. In accession to dog coins such as Shiba Inu and Samoyedcoin extensive new best highs, added tokens such as SafeMoon accept additionally put in abundant gains.
Editor’s note: The commodity has been adapted to highlight that assorted letters accept adumbrated that the SQUID badge cannot be sold.
Disclosure: At the time of autograph this feature, the columnist endemic BTC, ETH, and several added cryptocurrencies.
