I was wondering if anyone had there own opinions about Salary? I’m considering investing. It’s a week old. I like the passive income aspect. 24 percent tax on transactions. 20 percent goes back to holders. Rewards are in tether and they’re planning to come out with a card next year that uses the tether for real world purchases. It’s an interesting project and I’d love some feedback. Cheers!
DYOR. Let’s take an objective look.
- Their contract is strange, it requires a 24% buy and sell fee which is absolutely ridiculous. Every transaction made you’re paying 24%.
- Their website is a template. (The same one here)
- Not even using proper front-end site images (i.e. svg, webp) they use .jpgs (a show of lack of competency on understanding basic front-end web design)
- Heavy amounts of grammatical errors and spelling mistakes in whitepaper
- Whitepaper explains almost nothing about the technical side of their inner-systems.
- Making outrageous claims with no proof to back it up “SALARY Wallet is the world’s most simplest, most secure decentralized multi-crypto wallet application…”
- Anonymous team and no listing of said team
There’s more to be said, but I think there’s more than enough here for myself to turn away. You can make your own decisions and look further into things. Again, DYOR.
Thank you for your feedback!
I’ve been paying attention to their telegram group. They claim to have a new website coming this week. Yes the tax is high, but so are the earnings for holders. I noticed the grammar mistakes too. I’m contemplating whether to be an early investor or wait for them to get all their stuff together. lol
It’s definitely not meant for day trading. The rewards are based on volume. I think the project is aiming for creating passive income for holders.
Even if they deliver on ALL of their promises, as a user 24% tax on every transaction tells me I should steer far away from that. You aren’t going to earn anything if people don’t actually transact in that currency.
The 24hr volume has been over 100k since the beginning of the project with a couple million dollar days. A few people in the group who hold over 5000 tokens have been earning 200 plus a day. One guy was complaining about a 50 percent pull back after a 1000 percent run. One of the admins just offered him a full refund in USDT without tax. So far I like what I see, but I’m still doing my due diligence.
This response is from the admins!
Hello! Thank you for your feedback on Salary. I would love to address your concerns:
The 24% fee is central to Salary’s intended design. As you may/may not be aware, our hodlers directly benefit from this fee by receiving 20% of all transaction volume in the form of USDT. The intention is to deter selling. By simply hodling Salary, you reap massive rewards. The 24% in/out fees are recuperated over time through the above-referenced tokenomic mechanism.
Our website is undergoing re-design and will be relaunched on Wednesday. The existing template was more of a place holder to ensure we had a presence. Our thoughts were that having no website was less preferred over having some presence. Salary, much like many other projects in the crypto space, was boot-strapped. We chose to spend our limited upfront capital in ensuring our product performed as intended. This is not to say that your critique of our presence is baseless. We most certainly need to clean up our grammar and front-facing presence. We’re on it.
Our team is in the process of being fully doxxed and is scheduled to compete this endeavor this week.
Our white paper and product callamos are also undergoing revisions. Please keep in mind that our technical documentation was not originally drafted in English. Translating technical language straight into English is even less comprehensible than what we elected to display.
Again, our product is completely functional and has made our investors very nice returns, already! As is true in all reflection-based projects, a percentage of each transaction is te-distributed to the existing holder base. Salary is simply the most aggressive in the space at the moment. Invest with confidence!
The new website is up.
I bought. I feel like the admins are making a serious effort to follow thru on their promises. Yahoo finance just wrote an article.
- They just used a different WP theme.
- That’s not an article written by Yahoo Finance, that’s a paid for advertisement through a a company called Newsfile.