dp 2 minutes reading from Chiliz

Foundation Election: Multisig $CHZ – The Only Winners of the Fan ICO

1/ Lets look at CHZ

Fan tokens are no different from meme tokens, offering little to no utility and the only winner of fan tokens are companies like @Chiliz that create them out of thin air.

They get listed on major exchanges only to get dumped on uneducated retail investors

2/ It reminds me of the SBF box explanation where you can create a useless token and people will buy it farm it and give it value for being a dumb token.

He did it (Serum, Oxygen, Maps) because everyone else was doing it too.

Major points if you get listed on all major exchange

3/ It only takes 2 min of research to see that Chiliz: Multisig CHZ continuously sells each month.

4/ Go check the performances of fan tokens of how they have performed that will give you an idea of their utility.

Top Fan Token Coins by Market Cap | CoinGecko

5/ And part of our problem is us because of PvP zero-sum games we play where good traders trap bad traders by narrative capture of world cup pump but companies like @socios will always win giving them deeper liquidity to dump on us all

GCR on Twitter

6/ Even if the token goes to zero, the insiders not only raised 60m in 2018 but have profited hugely since then that they have no incentive to work and can walk away mega-rich.

But you already know this and know that this is story of 99% of crypto projects - chain, defi or nfts

This post is based on this twitter thread.


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