Topic: Need to know!!! Afterburner $ARB Token (Read 90 times)
I first thank the OP for writing this cautionary post. I also have some ARB tokens in my wallet. I have tried a lot to sell this token on Pancakeswap but could not. I could not sell even after increasing the tolerance level. I came to know details about this token after seeing your post today. Now it seems that everyone should stay away from this token.
I also have After Burner but I am not happy with the dev decision to sell only 3% of each Arb Wallet daily holding as well as they implemented 11% on buys and transfers & 22% on sells so how an investor who wants to sell will earn a profit? I believe even the dev can not convince anyone by implementing such a pathetic formula. Dev believes this will bring them, holders but it won't be long-lasting. Dev's full motto is to stop the investors to sell their coins so I don't think there is any benefit in buying these coins when you know the pathetic buying, selling, and transfer formula. This project shows only the narrow thinking of the dev to keep its coin value stable or one can say to avoid the dump.
So how investors/token holders will benefit if each transaction has a high TAX and is only limited to 3% of the balance held per day?
Although I am not a financial advisor, but I advise you to think 100x when you want to buy their tokens.
Actually this isnt new on other chain which they applied on a new chain arb but technically this is just a method to reduce dump. I believe all kind of tax or applied on a huge base is not gonna help to maintain and stabilized its price. Obviously they doing this to increase and price but how about the late buyers? Only those early buyers can gain advantage on this and make the system rigged for quite sometime. Although I am not a financial advisor, but I advise you to think 100x when you want to buy their tokens.
The developers called that as anti dump mechanism which is a very dumb mechanism. People able to buy with all of their money instantly but the developers were limiting them to sell. The developers of afterburner pure scammers. People must be careful. Anti dump mechanism was bs that used by team to fool the investors. They have control over it,. I have seen such mechanism before, the dev was trying to get more and more liqudiity and they will dump their own token
I've also just heard of such a system, and it sounds like a system that cheats investors. imagine, if an investor invests $1k in the project, and to sell his assets, he can only get 3% per day, and that means, every day, 3% of the total assets he owns keep decreasing. for example when he has $1000 ARB, and 3% of that is 30$, so he has $970 ARB remaining. The next day, he couldn't withdraw any more $30 ARB, but that was 3% of $970, or about $29.1, and it was going down every day.It's pretty funny. as you said, the investor buys it instantly, and when the investor wants to sell the asset, it can't be done. it's like the Dev is not ready to risk a dump. this also makes me think that the devs are not confident with the project they are developing, because they predict that investors will sell their assets instantly. therefore, they do this.
The developers called that as anti dump mechanism which is a very dumb mechanism. People able to buy with all of their money instantly but the developers were limiting them to sell. The developers of afterburner pure scammers. People must be careful. Anti dump mechanism was bs that used by team to fool the investors. They have control over it,. I have seen such mechanism before, the dev was trying to get more and more liqudiity and they will dump their own token
After Burner claims their project has a system designed to benefit investors and protocols through increased buyback & burn along with the combusting prize pool for the latest buyers.
You're taxed every time you buy, sell, or transfer your $ARB tokens.
The taxes are as follows:
• 11% on Buys and Transfers
• 22% on Sells
However currently each wallet has a cash-out limit per wallet set to:
3.00% of each ARB wallet/daily holdings.
So how investors/token holders will benefit if each transaction has a high TAX and is only limited to 3% of the balance held per day?
Although I am not a financial advisor, but I advise you to think 100x when you want to buy their tokens.
You're taxed every time you buy, sell, or transfer your $ARB tokens.
The taxes are as follows:
• 11% on Buys and Transfers
• 22% on Sells
However currently each wallet has a cash-out limit per wallet set to:
3.00% of each ARB wallet/daily holdings.
So how investors/token holders will benefit if each transaction has a high TAX and is only limited to 3% of the balance held per day?
Although I am not a financial advisor, but I advise you to think 100x when you want to buy their tokens.
Jump to: