SquidDao token is on a surge for the past 24 hours leading to a worldwide trend in the cryptocurrency world. It is one of the fastest rising coin in the digital currency terrain, which a lot of investors have singled for research. Most often, these tokens are usually weak to invest hugely on, as a result, a lot of money have been gained and also lost depending on the legitimacy of the project. This review will guide you and explain SquidDao in a way you will understand.
For those that lost out when Bitcoin, Ethereum, Dogecoin all had a quick run up, you will want to learn more about this token for FOMO. On this article, we will review SquidDao by explaining what the coin is about, listing the pros and cons, the supply and how legit/safe the token is for investors.
Please note; This is not an Affiliate Link related article, neither is it a Promotional Article.
What is SquidDao?
On October 20, 2021, an anonymous group of DeFi veterans came together to launch Squid DAO.
These anons believed they could leverage the economic successes popularized by the Olympus and the fundraising mechanisms introduced by Nouns DAOs to create an economic flywheel backed by ETH. Thus, the SQUID was born.
There are 126.28 SQUID in supply.
Pros and Cons of SquidDao
Pros of SquidDao
- There is a surge in the market price currently
- Project whitepaper available
- Contract on Binance Smart Chain
- They are fully decentralized
- A lot of investors are ‘flocking’ to invest
- It is listed on coinmarketcap
Cons of SquidDao
- The coin is still under research and development
- Multiple issues with its synchronizations between ledgers
- Not listed on exchanges
- No Github profile
- They have no reddit acount
- No Bitcointalk thread created
- No traceable features on tradingview
Is SquidDao Legit or Scam?
A cryptocurrency project requires you to part with your hard earned cash in order for you to become successful. You expect some level of transparency and professionalism from a project or the team that is asking for your money.
According to research and reviews, SquidDao have a very weak back up for the token they produce. Their public profiles are vague therefore making it difficult to determine their level of transparency.
Is SquidDao Safe?
Being willing to invest in the token is a question entirely up to you to answer. The token with a weak backup, will likely succeed or not depending on whether the project team puts in an effort to sustain the project.
Make personal research on the coin, visit coin’s official website.
Follow our blog to learn about coin legitimacy. You can share your thoughts and experiences about SquidDao on the comment section below. Don’t forget to rate and leave a review.