Slowly but surely …

Image for post
Image for post

The ICO problem

They tried to grab money during almost a year. Finally after a year on september 2020 there is zero product while big crypto products have been developed on few months.

Telegram behaviour

The behaviour is typical to a scam.

You can post another message after 15 minutes only. You ask something, someone replay your question. You can’t reply. There is no dialog possible. This is voluntary.

Admin and some “users” spam the chat with same useless messages. See samples below.

Image for post
Image for post
Image for post
Image for post
Image for post
Image for post

When you associate these 2 points, the messages of dissatisfied users are drowned or blocked.

Many users on Telegram simply ask to receive their tokens. A very large part of tokens have not been distributed. The worst-case scenario cannot be ignored: they distributed the token to their own addresses, to small investors and paid influencers.

The poor website

During the ICO you can see that the website is clearly technically poor.

Buy tokens with an ETH transaction, your BIDAO tokens count is not updated.

During the ICO you had the possibility to stake BIDAO tokens. But your tokens count is also not updated.

There is nothing automatic. The website is / was an empty box to grab money.

Token distribution

The distribution is not legal : some “users” received their tokens while others are claiming them.

If you check top holders, the distribution is unique.

The first holder is the Uniswap pool. Then the distribution is pefectly scattered.

Image for post
Image for post

According to the whitepaper you should see allocations for founders, developer bounties, marketing bounties, advisory board. Unless everything has been consumed you should see addresses with percentages greater than 1%.

Image for post
Image for post

If you check TOP 30 holders, many addresses have zero activity or have only one inbound ETH transfert. Check yourself :

0xE54a26B93e6B16d3D54bA8AC1D255A03376c4B3c

0x1b6ccc2e2Eb78B58D5b1E99CB7C87d47F3225753

0x64Ce8d38E5C76c93C1Dd7d13673e82B6C4fDd3a5

0x35ed9C9848f79aF8C8a992bB4EaCbc9bA08755Cb

0xA54C09dBc4fb0f839d8a786D914c0dc2047BDd57

0x2bB9FaB529E62aafE0E425404c8a68c2897B777d

Conclusion

Zero product after one year.

Zero serious exchange.

Telegram anti-democratic :

  • filter messages
  • ban suspicious questions
  • spam of promotion

Arbitrary distribution, direct manipulation price.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store