Hellow everybody recently ive been looking into a new coin the Red token → red-token.io i wanted to ask the comunity what u think of it ?
I saw Page an read their projekt seems like they are building something rly nice . But we never know .
Voskers and cryptomaniacs what do you think ?
Have a nice peace and love 
Pros and Cons. The overall idea is cool. A Global Metaverse that brings gamers together. It seems to me Red Tower is just an Arcade, that maybe has some connections to get into the metaverse they host. It’s hard to tell because the websites and pictures are all the same actors wearing different clothes. I’d also question why the pictures on the website show kids playing cards (the same kids in each of the pictures[models]).
When I view token projects it’s hard for me to see positive. They are basically offering Chucky Cheese Tokens, so we’d buy their token to be able to buy their stuff. And like a Chuck E Cheese token, it’s only good there. Chuck E Cheese eventually got the message and started accepting $$ and tokens (either or). I did not use the Chuck E Cheese reference is jest, they also sell video games to kids at there locations. But they use there token as marketing promotion to attract users , much like free Red-tokens are being used today to attract new users.
A big con is that Red-token will only do business with ‘registered’ crypto businesses and exchanges that are legal in their country and serve only legal users. So they are a Global Crypto asset, that adheres to national laws, not due to threat of those nations (no nations threaten crypto, maybe China??). The most likely reason for this is the US laws that state that Asian countries will be held to the same financial respectabilities US business will be held to, < That little law got Binance to cut off US users as well as all new Japanese exchanges cutting off US users. (AKA if we can’t legally scam you, we don’t want to do business) … So the question exist “why” make these the rules for Red-token … might they be concerned their methods to make profits will be deemed criminal by the US and by proxy, there own nation.??? With that said , they will likely never open locations in the EU or US, so “global” is off the table, it’s just advertising words. While they make websites and Smart Contracts in English … to target westerners money…
A pro is that they are actually doing it. Not just talking about it or writing home about how cool crypto is.
They are so new there info is not displayed or known yet (Tokenomics). I would be very curious to see how they distribute there 100 billion tokens and if they will use a 41% Smart Contract (often called the 41% Scam) or if they will do 49, 51 or 59% retention. I would fear they are just another token company out there using LQ pools for profit while offering very little product aside for a worthless token. They are ERC which tells a whole another story. Why not BSC, BEP, Poly, DOT or Cardano? (The answer is obvious, nation laws of western nations). ERC is hosted in China and only has to satisfy the C.C.P. If they went Binance/BEP/BSC they would have to adhere to US laws against China/Hong Kong. If they wen’t Cardano, …that’s a US blockchain network. If they went DOT or Poly … those are EU networks.
And ERC is not bad, they are the largest with the largest infrastructure, but also the scammy’est being that all the scams are on GitHub for anyone to use, view and alter (I would expect this is a 41% retention LQ scam). And don’t take the words wrong, a 41% retention scam is not awful, it basically takes usage to apply value to the tokens via smart contract. The issue is Usury, an exact concept BTC was created to destroy.
Now the big question. How does Me/us investing in this generate gains for us? Some flags to watch out for are the same’ol same’ol , Does there timeline offer the same tech everyone else has (like new app’s, wallet, cross-chain/EVM, REDv2, REDv3/poly) These planned out technical advancements are part of plan… scam … if they exist . 100 billion tokens is not a locked in number. They printed them out of thin air and use LQ pools and token retention to generate value, or just usage.
They are also a little late to the game. I hope that is for good/technological reasons like they are developing something new. But they don’t say that.
Reading the White Paper. So game development is done with the partner JP Games, who will own the games, so game development does not benefit RED per say.
“For digital projects, we will jointly develop a metaverse with JP GAMES*
that will become the foundation for global communication, and provide entertainment experiences in
virtual space connected to the real world.
For entertainment projects, we will hold events such as festivals that cover food, music, and fashion
crossing over the real and the digital.”
^^So that is a tad confusing, but it’s clear enough. Simply said - LQ pools. JP Games nor Red-Tower are obligated to give any profits to Red-Token or the DAO team. They way those 2 benifit Red-Token is via usage on the LQ pools, basically saying that they will use red-token and in the process are aware that a small % of each transaction is syphoned off to the DAO/Token. Of that small %, no where is it listed how much goes into the tokens. Those funds will likely be used by the DAO to re-buy their own tokens to pay off red-token stakers. By buying their own token they will again > LQ-pool in the process, and add sales volume to their own token, resulting is price gains.
I know I’m a negative nelly when it comes to opinions of token projects and DAO’s. It’s just how I look at shit. Thanks for bringing this token up, I’ll keep my eye on it, maybe buy some…?
Cheers, have a good one.
Thx for the reply i m unsure asswell ,i do Not have some of their toke atm but i keep eyes into news of them and i dont See a big comunity behinde just the token lunch is up.
So you have read the withepaper:o ?
I see the website has changed since I last looked and replied.
The White Paper > https://red-token.io/wp-content/uploads/2022/07/red-token-whitepaper-en-1.pdf It’s a PDF download.
There is definitely some mixed verbiage that one has to read between the lines to figure out. They play ‘the game’. For instance they have a drop down section answering questions, when it asks “does Red Token have a wallet?” they answer vaguely that you can download the wallet from them. It’s an ERC token (ETH type) and any ETH wallet can hold the token. So why would they have their own wallet download… obviously some sort of profits or sign-up ect ect. Probably has more to do with directing users to the projects Liquidity Pools associated with UNIswap. Any/every DAO has a preferred place they want you to trade so they can get a max % return on your actions (trades/transfers).
And as I sit here sounding rather negative, I bought in. Nothing giant but a nominal investment “incase” it becomes worthy. ($80). I used MEXC.com (global) and put it into my own ERC/ETH CLI wallet.
Overall I do like the idea. Kind of like securities or stocks. Tying crypto to a physical business. I’d rather it be a company making defensive space lasers instead of a video arcade located in Japan, but hey. I do fear that if and once the Red Token becomes worthy, they will pull further shenanigans like re-issuing or going V2 or V3 or EVM. (TiTs Token, TitsV2 and TitsV3/EVM are a perfect example of this, the Company/DAO/token sucks ass, the re-issuing is highly profitable for holders/traders.)
Who knows where it all goes. But I do appreciate you bringing new stuff up.
Have you invested? to what extent (approx $$)? What exchange do you use, if so? And what wallet?