Anarchy: A New Shit Coin?
If you haven’t had enough dubious projects, then here’s one that will likely catch your eye.
“Fight the system with anarchy.”
This is the first line you see when you open the Anarchy coin site, one of the latest projects that managed to garner some media attention. It is understandable why.
The project promises to shake up the industry and seems to have all the right passages for enticing potential investors.
“If you are feeling trapped, unable to get ahead, and like the financial system is working against you, you are not alone. Time and again, the system has proven that it operates to the detriment of the average hard working citizen, failing society as a whole and violating our individual privacy rights in the process,” the site reads.
The answer to this problem is naturally the $ANA coin, according to its creators.
Based on ERC-20, it says that it’ll be your “first step away from a corrupt system to its core” and that this way you “can become part of something that’s truly decentralized.”
In an attempt to “dismantle” this system that is suffering from “incompetence” of the government that “lied” about inflation and the like, the investors are offered to participate in ICOs, with 80% of the 69,420,000,000 Anarchy tokens issued for sale and 20% supplied for liquidity.
The coin, which is now at presale stage 4, can be bought via Metamask wallet or Walletconnect, with ETH or a credit card.
Source: Anarchy coin’s site
Function-wise, the projects’ authors claim that it will be DAO based, saying that Gnosis Safe, the platform to manage digital assets on Ethereum, will help secure the DAO treasury through multi-signature solutions.
“Each month the DAO will vote on the best proposals put forward from community members on how the funds are spent. Community members will also elect and vote out DAO ambassadors who work with the everyday running of the DAOs treasury,” the project’s authors note.
Why does it smell like shit?
Well, let’s be honest. The fact that the Anarchy coin hasn’t even bothered to create a whitepaper or a roadmap is a huge red flag.
Furthermore, passages containing many emotive sentences like “though vivid, painful memories of the 2008 financial crisis continue to plague our collective consciousness, 2023 brought yet another slew of bank failures” are something to be concerned about. As a rule, emotionally-filled language is used for manipulative purposes.
Anarchy coin’s not so high popularity on crypto X (Twitter) is likewise a point of concern. At the time of writing, it only had 9,019 Followers with tweets, claiming that $ANA will be in every city soon.
ANARCHY’s tweet. Source: X (Twitter)
We advise that you treat such grand statements with caution, considering what happened to other “promising” meme projects that have either completely lost their value or are about to do so.
So, do you research thoroughly before investing in any projects.
Previously, GNCrypto reported about how much ApeCoin lost in value.
