Dr. Doom posted on April 13, 2019 05:04:33
Aims to be THE Asian cryptocurrency, but it is first and foremost an ERC20 token and most of the promised advantages of Asian Dragon are already inherent to Ethereum and any other ERC20 token. So the only special thing would be its name and marketing, other than that, nothing of inherent value to make me believe that, according to the whitepaper, the value of the token would become on par with all major Asian fiat currencies (disguised promise of unrealistic price increase) within 5(!) years!
And what is their special strategy to achieve such bold target for the value: it is supposed to be achieved by supply and demand of traders and investors on exchanges.....well, isn't that what ALL coin projects are trying to achieve. How is it going to be different for this project? No one knows, especially because they claim NOT even to be doing pump & dump schemes, nor token burns to support price appreciation. So they are even in disadvantage.
Bitcoin is even unlikely to achieve to be the main currency in which product prices are denominated in any country within 5 years, let alone this meaningless ERC20 token (which is claimed in the whitepaper)
According to the whitepaper, the founders and team remain anonymous because of potential legal consequences around the legality of cryptocurrency in certain jurisdictions. Which is very convenient reasoning obviously, or is it maybe more about legal issues surrounding illegal fundraising/scamming from investors?
A very interesting and divergent point is that, unlike almost all projects, the team is allocated only 1% of supply, and founders/owners 0%. Of course they would receive the funds from investors and without token allocation not even the incentive to work on the project for price appreciation. Interesting aspect that is not common for in the space, but not convincing at all impo.
Another aspect that seems to be misleading is that the whitepaper says they will not be doing an ICO for the public, only private investors can buy. However, there is an allocation for public sale (57% of supply vs 36% for private sale). So what's up with that? Well, in the whitepaper they explain that the public sale will be done over time through exchanges to the public. Which means that the project will be diluting the supply and by dumping the coins on the exchanges where it would be listed. It is very hard to imagine any price appreciation with these dynamics at play.
I think I have written enough about this waste of time and energy shady project.