Lesson from Our First AMA
Note: This is not investment advice. If you want to purchase AiCoin, you may do so here: https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x76283f3361a9070c534512ceb1130ffa5b71343f
We conducted our very first AMA earlier today, just 5 days after launch. It was our first real chance to describe our long-term goals and strategy for AiCoin.
And boy, did we talk about a lot! Let’s review…
Why did we start AiCoin?
We started AiCoin (https://t.me/AiCoinV1)after realizing all the BS rug gable code that was in AiCoin. We’re very familiar with RFI forks and tech in general, and couldn’t believe regular people (our families, friends) were putting so much money into things they didn’t understand the first thing about… but to make it worse, with actual RUGGABLE code!
So we made AiCoin as an RFI fork that removes all of that. We got it audited by GEM which most of you probably know, and made significant changes to the code that remove all the BS that other teams leave in that puts users at risk.
Why should someone spend their money on yet another RFI-fork token?
Usually, with RFI tokens, the whole pitch is “just hold and get rich derf derf” which… sure, that sometimes works for those who are early. Once more people stop coming, you stop making money and having use-cases.
So we have heavily modified the RFI token such that you can utilize it in many ways that you can’t normally with typical things like AiCoin.
For example, we will be working with partners to bring on staking farms. So you can hold your AiCoin, and get the nice RFI rewards while simultaneously staking those for third-party token rewards, like a normal farm.
We are also doing something that is typical of some others, which is we’re doing donations of large amounts of money donations that are important to us — but we are allowing the users to decide those starting next month. The tokens will act as governance tokens as well.
You can see much of this on our newly-published https://aitoken.shop/roadmap/
What would we say to new investors concern about holding so many tokens in their wallets already?
Unfortunately, there are bots out there that look for new RFI listings, wait on LP to be added, then snipe. We put in some factors that limited the ability for this to impact us at AiCoin, but evidently they weren’t sufficient because we do have one bot that was able to get through and accumulate a fair amount of tokens — which is annoying to say the least.
Besides the bot account though, we have looked through the top holders… and:
Typically, scary top holders are people who picked the coins up for $.00001 and would dump. Three or four of the top 10 token holders in our project put in 1000+ bnb each to buy the AiCoin at prices *higher* than they are now. The chance of these guys dumping is low, so it’s not something we’re concerned about. But even further…
Since this was audited by GEM and has a lot of users from there, we were able to use some connections to find out who some of the wallets are. We have had sufficient conversations and have assurances there will be no dumping. We are well supported by big OGs in BSC — if anything, I am happy that so many of the big players hold large bags.
Why are we spending money out of our own pockets to market AiCoin?
Because we put downward pressure on the early holders if we use dev funds. During the early days when there is less LP (RFI tokens take a while to build that up), it would limit the growth of the project.
We have been in crypto for almost a decade and have enough funds to take care of ourselves, so we don’t need to sell these tokens on our holders to do promo. We have a “war chest” set aside for the marketing and promo of AiCoin, and it doesn’t require us to touch dev funds at the moment or for the foreseeable future.
What’s the biggest risk to our project?
The main risk we have is that people simply don’t care about doing “meme coins” safely or carefully, or that they don’t care about the long-term visions and plans we discussed.
That is the case in everything, though. There was a time when nobody thought that seatbelts were useful. People were dying all the time flying out their front window in car crashes.
Then people realized you can put seatbelts on, and drive just as fast, and maybe not die at the end. So now people think driving without a seatbelt is absurd.