While the FTX crypto-exchange’s crash has caused a wave of fallout in cryptocurrency, there is still opportunity. The volatility has made it great for profit pulling, using methods like Stock Up! Host Larry Jones suggests. With all the hype however, there are a lot of new meme coins popping up and there’s at least one that has red flags all around — Toon Finance.
Every business venture and investment is a gamble. This is a fact. In the world of crypto there are ways to limit risks though.
What is Toon Finance & TFT Coin?
There’s a pre-sale going on for TFT tokens. What exactly this brand represents, is a bit unclear in reviewing their official website. The language used is ‘challenging’ to comprehend.
However, the entry paragraph of the site suggests Toon Finance is a decentralized exchange application. Their native token is TFT.
The exchange platform will be used by other cryptocurrency brands to help eliminate (presumably) bridge hacks and similar nuances in Play To Earn (P2E) gaming. The exchange will use Toon Finance’s native token to operate the exchange.
As volume of usage of the exchange goes up, the value of the TFT coin would increase as well, theoretically.
Toon Finance’s exchange would allow less secure brands to have SHA26 encryption. This is the best hashing algorithm available.
Red Flags – Signs of Rug Pull
This new cryptocurrency has started to presale the Native token on their official site based on this simple premise. However, there’s a lot of negatives found on their website’s presentation.
#1 – Site’s Grammar
Reading over the official website, it would seem the brand should have invested in a decent writer. If not that, at least ran their text through Google Documents spell check. There’s all sorts of errors on their landing page alone:
““Toon Finance Protocol is a decentralized exchange application platform designed by a team of market leaders & blockchain developers aiming to fix the externality that surrounds the P2E gaming demand by ensuring a P2E metaverse backed by SHA256 encryption,” reads the first paragraph on the site.
If that’s not a run-on sentence, CZ only means Cubic Zirconia to cryptocurrency gurus.
#2 – What game doesn’t have SHA256?
The TFT coin is pushing the idea of ‘externality’ issues. What does that even mean? Also, what Pay 2 Earn crypto-game does not know how to use SHA256?
Before investing in this Pre-ICO token sale, ask for a list of games that need their technology and research it. It’s likely, there’s not many games at all that need this.
#3 – The Toon Finance Litepaper aka White Papers (see here)
Most people do not read this. However, within 5 minutes it’s clear this is not a professional job.
Can it still be legit?
Even with this said, in the cryptocurrency world, we do not even know who founded the niche. Satoshi is hailed a genius but nothing is truly known about him or the ‘end game’ of this token truly. Therefore, yes, this Toon Finance project could actually be legit.
Genius in technology & finance does not revolve around writing skills. Instead it revolves around creativity, utility, and foresight. Therefore, this TFT coin could turn out to be a genius project.
Nonetheless, crypto-investors beware and do your due diligence.
