YEREVAN (CoinChapter.com) – DeGrain crypto made an effort to gain traction in the previous month, through extensive advertising of its DGRN token presale. The new inter-chain NFT platform aims to revolutionize NFT sales and beat competitors such as Solana and Ethereum. But can Degrain coin prove reliable?
As CoinChapter reported earlier, DeGrain’s bold claims might not have enough weight behind them, as the available information on DGRN crypto comes from the team itself or paid promotions. DeGrain’s followers caught on to the trend, and voiced their suspicions as well.
Also read: Degrain DGRN crypto on presale. Should other DeFi platforms worry?
Meanwhile, the project calls itself “potentially the best investment in crypto” and urges its social media following to get in on the presale while they can.
The tweet above specified Aug 3 09:00 UTC as the time DGRN would go from $0.06 to $0.07. However, the exact timing of the supposed price increase raises many questions about the project’s legitimacy. Additionally, during phase 1 presale, DeGrain advertised a possible 5000% value increase as an expert prediction. However, there are no such assessments from independent analysts in sight.
Degrain DGRN token
Getting an impartial opinion on DeGrain crypto is challenging. Thus, traders should proceed with caution before considering an early presale investment. In detail, DGRN is in its second presale phase which will last until Oct. 1, 2022.
Considering the token is not on the market yet, traders can’t assess its price. Platforms like CoinMarketCap, CoinGecko, or TradingView do not have the necessary information on DGRN crypto. Hence, potential investors are left to judge the legitimacy of the project’s claims on their own.
Also read: Gnox crypto on presale — is it a scam or legit?
Meanwhile, Degrain’s whitepaper appears quite detailed and provides information on token distribution, intellectual property licensing, etc. The platform also offers fractionalized NFTs, which are attractive to many users.
Every month, stakers will be able to use their Degrain tokens (DGRN) to vote on which NFT the platform acquires. This NFT will then be fractionalized and made available to stakers.
reads the whitepaper.
Also, the project claims that “100% of trading fees will be distributed to DGRN stakers” and “creators will receive their royalty payments immediately at the moment of sale.”
Can DeGrain be trusted?
The project has not undergone a full audit. The latter is in progress at crypto-security firm Certik, and DGRN token vowed to present the results on Aug. 14.
Also read: Solana hacked brutally, and now SOL price risks a 40% wipeout.
Meanwhile, the analysis by smart tracker icoholder.com contained a comment from a user who claimed the DeGrain team blocked them for asking “important questions.”
I was removed from the telegram group as well as Twitter for asking important questions. Such as, if the team was doxed? It wasn’t. Now they keep sending @mails, nowhere to unsubscribe from them. Seen this method before, and it didn’t end weĺl for my investment.
commented a potential investor.
While the project’s Augu t media traction exceeded the July results, the smart tracker characterized Twitter and Telegram presence as LOW and MEDIUM.
Also read: Robinhood crypto arm to pay $30M in penalty amid massive layoffs.
It seems unlikely that DeGrain crypto can hope to thrive and beat its competitors in unfavorable market conditions. However, traders will see the results by the end of the presale. As for its legitimacy, the Aug. 14 audit results might shed more light on the project’s intentions.
