I couldn't find any information about Shen Tong.
To be honest, checking its Twitter feels quite authentic. But this authenticity only comes from its own words, without any third-party information to verify its authenticity.
There are many doubts.
I need to conduct a serious investigation, starting with looking at its token composition.
Token data found in the whitepaper:
Total supply: 1073741824 (0x40000000)
Seed round token price: 0.040U
Percentage: 10.24%
Founding round token price: 0.200U
Percentage: 10.24%
Validator round token price: 0.25U
Percentage: 5.12%
Strategic sale token price: 0.50U
Percentage: 2.56%
IEO transaction price: 0.50U
Percentage: 2.56%
Team token percentage: 10.24%
Foundation token percentage: 10.24%
Community token percentage: 48.8%
Burn mechanism
50% of the transaction fee is burned after completion
Unlock time
a) Team incentive part: Never unlocked, only used for ecological governance voting
b) Seed round: 36 months
c) Founding round: 24 months
d) Validator round: 24 months
e) Strategic and IEO: None
f) Foundation: 48 months
g) Community: The management committee decides the release time and quantity, with no lock-up period
Currently, the official price is 0.25U per coin, while Shen Tong's price is 0.35U per coin.
The key question is, what are the benefits of Rug Pulling? Is its coin essentially a Ponzi scheme, a break-even coin? If the coin price really goes up later, it's okay to break even. If the coin price collapses, then there's no way to break even.
This coin has several pools, with huge price differences between them. It claims to have a CTO. Well, I searched and found the person does exist, but couldn't prove the connection. And isn't the main technical stack of an NVIDIA architect Linux and system-level stuff, more focused on blockchain? Probably just brought in for endorsement.
This is a flawed Ponzi scheme, but I bet it won't exit scam within three days.
Why?
- The Twitter account has been running for years, it would be a waste to exit scam right after starting.
- The current market cap is just over two billion, not worth exit scamming for this amount.
- Regarding personal achievements, no one has debunked it, indicating some things may be opportunistic but not lies.
- He has mentioned this halving plan multiple times, indicating it was already in his estimates. Just a marketing tactic.
- Exit scamming wouldn't yield much profit for him, even though he made a lot of money from the wallet sprint, it wouldn't make sense to take the money and run.
That's how I feel, this wave won't run away. But don't be too confident.