What do you think about Rewards Token Projects in general?

Amjado711

newbie

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Quote from: magneto on May 06, 2022, 11:13:03 PM

Quote from: Amjado711 on April 27, 2022, 04:45:01 PM

Rewards token are those which you only need to hold on your wallet and receive dividends just by holding.

there's tax when you buy the token and part of that tax get distributed to the holders.

examples are:

$EGC which you receive BUSD as dividends
$SFM which you receive SFM as dividends
$ALTS which you receive any BSC token of your choose as dividends

What you described is literally a ponzi scheme where latter investors are paid by earlier investors. If true, I would not touch that with a 1 metre stick.

Anyhow, I think that there are legitimate dividend tokens out there, but they are all primarily casinos (e.g. Betfury's token).

They distribute tokens based on actual profit, not because other people are buying into the token.

It's not a ponzi scheme because there is a clear Tax protocol that runs the dividends, So it's totally something different.

Maybe it's new protocol that people are not familiar with, so the path of this protocol is not accepted among people yet?

Reatim

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Quote from: Teraboy on May 07, 2022, 07:10:54 PM

honestly these kind of reward token that doesn’t require staking but just holding always have ulterior motive like taxes that you mentioned it’s just ridiculous that the altcoin like this need mantaining its value by robbing its holders.
I would just usually ignore these kind of shitcoins altogether because nothing good usually coming out from them.

This is it, that is the reason why we need to keep distance from such kind of offers because this is what they use to lure investors with false expectations.

Quote

just try dealing with real altcoins instead, their profits are sure and not some shady underhanded trick like most of the reward tokens are and it’s just gonna overcomplicate your life.

And Also this, Why need to risk when there are legit and worth to be trusted?

those ranking coins are always there to stay strong for period of time , and your funds is safe that you can leave long term.

Rampagoe004

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https://duelbits.com/

Some of the gift tokens we can rely on even though we do not have stalking or mining, but some tokens we cannot store for a long time because the value continues to fall, but if the payment in the form of stable coins such as BUSD will not have an effect, but regarding taxes it is indeed a very troublesome thing let alone a fairly large cost and now the system is starting to be implemented.

davincicode666

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Quote from: FirmWars on May 08, 2022, 01:18:59 PM

All these type of projects do is give out some rewards, that's all they know how to do, no real utility nothing, stay away from such projects because they can easily turn to scams right before your eye, find good projects that add value to crypto and it's users.

I think your suggestion has some truth to consider because if any project that only offers prizes without thinking about developing their product, then it is a weak project and one day it might just disappear or die for no reason, because of their team that doesn't think about it. project performance and collaboration with other parties to become stronger.

bitterguy28

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Quote from: 2tang on May 06, 2022, 10:42:58 PM

Quote from: lornadane on May 06, 2022, 08:54:05 PM

Yes it's true that we can't expect too much from the results of the project because sometimes there are projects that are ready and successful, but the payments are in installments and are not satisfactory, sometimes there are ordinary projects but the pay is smooth every week, even though it's not much, but it's definitely worth it. their work every week.

It only relates to the initial rules in all campaigns or with the project party, because it was taken based on the decision of the direct team who wanted to make the payment method easier even though methods such as gradual payments did not satisfy the participants who took part in it.

it is still rewarding system so yes it is the same as what normal campaigning does and this is promising that paying as I hate to say but this is a waste of time and effort and also risk in your funds to be vested .
try to prevent from joining like this or lose the chance forever.
best to invest in something reliable and worth a trust and those are the legit company paying and rewarding their investors.

Iyeman

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Activity: 1183

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just the usual shitcoin but more advanced I guess, i’d usually just ignore any of them altogether as they held no importance whatsoever in my investment and also because they have very little value.
regardless the taxation thing that you mentioned is just utterly ridiculous, I could see the reason the dev behind these rewards altcoin project are sending their altcoin everywhere like crazy because they want to increase their altcoin
value by forcefully taxing its holders.

m_nief

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Activity: 546

Merit: 261

Moonbet.io

Quote from: Amjado711 on April 27, 2022, 02:54:25 AM

What do you think guys about Rewards token?

which doesn't have any staking or mining protocols

examples are:

$EGC which you receive BUSD as dividends
$SFM which you receive SFM as dividends
$ALTS which you can receive any BSC token of your choose as dividends

Not sure with your altcoin staking recommended because worry when price suddenly drop, not stable price with all staking coin and right now I check with AXS by giving 75% profit return with one year holding. From $100 price last several months and right now AXS drop drastically and back to $30 before last days ever under $28. I think you need waiting when price really dip if interested with staking coin and give much return profit later with lower price. But if you keep trying stake coin when price still up you have made biggest mistake.

jostorres

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Quote from: 2tang on May 05, 2022, 11:05:28 PM

Quote from: CaVO32 on May 03, 2022, 05:25:13 PM

Rewards token can easily go down if the team behind it is not actively developing its potential. I also think that it is better to invest on top coins rather than this type of project. You can easily lose your investments once the team decides to abandon the project. Because most of the time, their purpose is not for long-term.

Almost on average it is because the team usually targets instant profits when they have launched their projects and products, so everyone always needs further and deeper examination before investing their money in the project.
Although there are also really serious projects developed by the team, the numbers are very few, even one in a thousand for now.

That one in a thousand is the reason why I stay away from new projects. What is the reason that I should be risking my money for such a low chance that will not give me so much?

I mean there are some serious ones that go up I agree, and maybe you could make a good profit from them as well there is nothing wrong there but I could invest into btc and eth heavily right now and wait for them to 2x eventually and be right eventually anyway, why risk all of my money for such a risky thing when the guaranteed is right there? This is why I keep on investing older coins, even litecoin is better than a new project and that hasn't been high for that long for a while.

barbara44

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Quote from: magneto on May 06, 2022, 11:13:03 PM

What you described is literally a ponzi scheme where latter investors are paid by earlier investors. If true, I would not touch that with a 1 metre stick.

Anyhow, I think that there are legitimate dividend tokens out there, but they are all primarily casinos (e.g. Betfury's token).

They distribute tokens based on actual profit, not because other people are buying into the token.

Depends on what we are talking about. Here we are talking about staking and all, or liquidity providing if you want, and those are not like ponzi. Because in one of them, people trade their coins, and pay a fee, and people who invest to LP end up getting that fee paid, and the other is staking, where you invest the token, and that token is printed, just like how bitcoin and eth is mined, and that printed ones go to people who stake it.

As you can see, ponzi is nowhere to be found because nobody pays you with others money and try to keep it alive, it is a system that is dynamic and not fixed as well which means whatever action is taken, that much reward is given.

FirmWars

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Activity: 229

Merit: 79

All these type of projects do is give out some rewards, that's all they know how to do, no real utility nothing, stay away from such projects because they can easily turn to scams right before your eye, find good projects that add value to crypto and it's users.

TastyChillySauce00

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Activity: 2982

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Leading Crypto Sports Betting & Casino Platform

The blockchain has charged us and why do we need to pay doubled and remember that the tax that charged by the blockchain was even smaller than what already charged by the developers. This scheme was actually a scam scheme. I just wanna try to remind you that if this kind of mechanism was so garbage by forcing the holders and traders to pay the tax that they might not pay. This kind of robbery to the traders and holders. The dev was so stupid by creating this scam mechanism.

adiebitsler

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Activity: 1106

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Quote from: Chato1977 on May 06, 2022, 10:53:22 PM

and in the end? this is about the company and is not for the participants right?

so I hate to be part of this and not giving best to the interest of everyone instead by few .

Goodluck to all participants and hope you'll do better in the end.

I think the public interest is much better than the interests of a few people because if a project can move forward with the interests of everyone it will be much better and I see that it is very rare at this time so that anyone still needs analysis for this kind of thing again when see new projects running.

Teraboy

hero member

Activity: 2282

Merit: 505

honestly these kind of reward token that doesn’t require staking but just holding always have ulterior motive like taxes that you mentioned it’s just ridiculous that the altcoin like this need mantaining its value by robbing its holders.
I would just usually ignore these kind of shitcoins altogether because nothing good usually coming out from them.

just try dealing with real altcoins instead, their profits are sure and not some shady underhanded trick like most of the reward tokens are and it’s just gonna overcomplicate your life.

magneto

hero member

Activity: 1666

Merit: 753

Quote from: Amjado711 on April 27, 2022, 04:45:01 PM

Rewards token are those which you only need to hold on your wallet and receive dividends just by holding.

there's tax when you buy the token and part of that tax get distributed to the holders.

examples are:

$EGC which you receive BUSD as dividends
$SFM which you receive SFM as dividends
$ALTS which you receive any BSC token of your choose as dividends

What you described is literally a ponzi scheme where latter investors are paid by earlier investors. If true, I would not touch that with a 1 metre stick.

Anyhow, I think that there are legitimate dividend tokens out there, but they are all primarily casinos (e.g. Betfury's token).

They distribute tokens based on actual profit, not because other people are buying into the token.

Chato1977

member

Activity: 1148

Merit: 58

Quote from: 2tang on May 06, 2022, 10:42:58 PM

Quote from: lornadane on May 06, 2022, 08:54:05 PM

Yes it's true that we can't expect too much from the results of the project because sometimes there are projects that are ready and successful, but the payments are in installments and are not satisfactory, sometimes there are ordinary projects but the pay is smooth every week, even though it's not much, but it's definitely worth it. their work every week.

It only relates to the initial rules in all campaigns or with the project party, because it was taken based on the decision of the direct team who wanted to make the payment method easier even though methods such as gradual payments did not satisfy the participants who took part in it.

and in the end? this is about the company and is not for the participants right?

so I hate to be part of this and not giving best to the interest of everyone instead by few .

Goodluck to all participants and hope you'll do better in the end.

2tang

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Undeads.com - P2E Runner Game

Quote from: lornadane on May 06, 2022, 08:54:05 PM

Yes it's true that we can't expect too much from the results of the project because sometimes there are projects that are ready and successful, but the payments are in installments and are not satisfactory, sometimes there are ordinary projects but the pay is smooth every week, even though it's not much, but it's definitely worth it. their work every week.

It only relates to the initial rules in all campaigns or with the project party, because it was taken based on the decision of the direct team who wanted to make the payment method easier even though methods such as gradual payments did not satisfy the participants who took part in it.

yhiaali3

legendary

Activity: 1680

Merit: 1853

#SWGT CERTIK Audited

There are only some tokens that are good and the rest are worthless, I worked in this type of reward before and got tokens that were never worth it, why do these projects give you other token rewards instead of giving you the tokens of their project? The reason is most likely that these tokens have no real use for them, and therefore there will be no demand for them, and their price will be close to zero, and it may be difficult to sell them as well. In any case, there are some of them that are good as I mentioned, so you should do your own research before subscribing to this type.

lornadane

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Activity: 529

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Quote from: crzy on May 06, 2022, 05:59:09 PM

Quote from: rodskee on May 05, 2022, 08:49:54 AM

Quote from: ringgo96 on May 05, 2022, 08:36:10 AM

Indeed, currently there are very many reward tokens that we get from the projects we participate in, but some of the reward projects are indeed worthless but I also often find gift tokens that we can sell and have value even though they cannot last long but we can still use as long as there is still value, indeed very many we find prize tokens that there is no staking or mining protocol but the value is still there even though it is not too high.

it is not some of the rewards are worthless but Majority of those as you are a typical bounty hunter and you know how difficult to find a legit projects that will pay with valuable coins.
but yeah there are still some of them but very few and hard to find .

The value of those token will depend on the project itself, and its not guaranteed so don’t expect that much even if you participate on many bounties, there’s still a chance that you will earn nothing. Reward token on NFTs are different, some already have their own value but in time it usually drops especially on a bear market like this.

Yes it's true that we can't expect too much from the results of the project because sometimes there are projects that are ready and successful, but the payments are in installments and are not satisfactory, sometimes there are ordinary projects but the pay is smooth every week, even though it's not much, but it's definitely worth it. their work every week.

crzy

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Activity: 2128

Merit: 180

Quote from: rodskee on May 05, 2022, 08:49:54 AM

Quote from: ringgo96 on May 05, 2022, 08:36:10 AM

Indeed, currently there are very many reward tokens that we get from the projects we participate in, but some of the reward projects are indeed worthless but I also often find gift tokens that we can sell and have value even though they cannot last long but we can still use as long as there is still value, indeed very many we find prize tokens that there is no staking or mining protocol but the value is still there even though it is not too high.

it is not some of the rewards are worthless but Majority of those as you are a typical bounty hunter and you know how difficult to find a legit projects that will pay with valuable coins.
but yeah there are still some of them but very few and hard to find .

The value of those token will depend on the project itself, and its not guaranteed so don’t expect that much even if you participate on many bounties, there’s still a chance that you will earn nothing. Reward token on NFTs are different, some already have their own value but in time it usually drops especially on a bear market like this.

sana54210

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Quote from: rodskee on May 05, 2022, 08:49:54 AM

Quote from: ringgo96 on May 05, 2022, 08:36:10 AM

Indeed, currently there are very many reward tokens that we get from the projects we participate in, but some of the reward projects are indeed worthless but I also often find gift tokens that we can sell and have value even though they cannot last long but we can still use as long as there is still value, indeed very many we find prize tokens that there is no staking or mining protocol but the value is still there even though it is not too high.

it is not some of the rewards are worthless but Majority of those as you are a typical bounty hunter and you know how difficult to find a legit projects that will pay with valuable coins.
but yeah there are still some of them but very few and hard to find .

Main reason for such a thing is the fact that we are looking at it the wrong way. You are looking at the bounty hunters perspective and see that there aren't that many which would pay a decent sum for your work. However, if you try to change your view and start looking at the project creators side, you will realize that there are two reasons why you should pay little.

One of them is the fact that there are too many people who are willing participants of a bounty, meaning you could offerless and still get a good number of people, thousands if you offer the right sum. Second is the low quality bounty hunters, meaning if you pay a lot ,some low quality do nothing people will end up getting paid more than they should.

Topic: What do you think about Rewards Token Projects in general? (Read 346 times)