Key Takeaways:
- Firepin (FRPN) launched a pre-sale on Feb. 25.
- The project’s legitimacy is still subject
YEREVAN (CoinChapter.com) – Firepin Token (FRPN) was the new talk of the town in the previous weeks, as the platform launched its token pre-sale on Feb. 25, ongoing till mid-April.
What is Firepin Token?
Firepin claims to be an interoperability blockchain and a multi-swap decentralized autonomic organization (DAO) cryptocurrency. Additionally, it aims to build a community-driven Metaverse Universe.
The network promises to bridge five major blockchains: Binance Smart Chain (BNB), Ethereum (ETH), Polygon (MATIC), Avalanche (AVAX), and Solana (SOL), enabling holders to complete transactions “quickly and cheaply.”
The whitepaper further specified that Firepin plans to build an NFT marketplace in Stage 3 of its development.
Community members will be able to subdivide their Firepin NFT into child NFTs that represent a new evolved NFT generation in the Firepin Metaverse. Then, using Firepin’s Proactive Market Maker (PMM) algorithm, you can create a flexible and efficient market to exchange children NFTs
reads the whitepaper.
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However, the immediate plans for Stage 1 of the Roadmap include launching the FRPN token on PancakeSwap. Then, the platform hopes for listings on token-tracking platforms such as Coingecko and CoinMarketCap, and the launch of its DEX: Firepin Swap.
Is Firepin a legitimate project?
The team behind FIREPIN Token claims that its price has significantly increased since the pre-sale launch and rose 285%. Moreover, In the last week alone, the token has seen another 96% increase, as the team urged users to “get in early.” However, there is still no proof, as users can’t access the price information on pre-sale.
The promotion further argued that if the coin carries on at this trajectory, “it could eclipse the pre-sale records seen by Filecoin (FIL) and Tezos (XTZ).” But the claims are questionable, as potential investors don’t have information on the project’s security.
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Moreover, the assertions on Firepin’s legitimacy also come from promotional sources. For example, the project team made followers aware that blockchain security firm CertiK is auditing the network. But as the process is still ongoing, there is no safety assessment available for users.
Additionally, the project’s creators are anonymous. The whitepaper doesn’t lead to direct contact names or social media profiles. Thus, potential investors should do their research before considering an investment.
