We found out about Flockerz after it appeared in a list titled “Best crypto presales for investment” on one crypto news website. This list is often filled with questionable investments, but there are also some projects that show real promise.
The Flockerz Crypto Project describes itself as a meme coin with a tale centered around a strange flock of cartoon-style bluebirds. According to the project’s website, over $800K has been raised in the current $FLOCK ($Launchpad) presale. The whitepaper says it’s much more than just a token–it is a global movement. The “FlockTopia,” a DAO that is part of the project, says it can turn any token holder from a follower to a leader. After hearing such strong claims, it was necessary to review and dig deeper. This is what we discovered.
The Team-Hided, No KYC
Transparency, one of the main advantages of Blockchain technology, is its transparency. Unfortunately, even though many projects use blockchain to benefit and profit from its transparency, they don’t always apply that standard within their own teams. Here, it appears that is what has happened. Flockerz developers are anonymous. In fact, they haven’t gone through a KYC (know your customer) process with a verification company. Even though this is not uncommon in crypto projects that are raising millions, it’s still concerning. This lack of accountability is raised by this lack in transparency.
Flocktopia Project Concept and Vote to Earn
Flocktopia – Flockerz Crypto DAO – forms the core of the project. The idea of a Flockerz Crypto DAO, called Flocktopia, is something that we can relate with. Having the entire community decide what happens to a project, can be empowering. A DAO is a great idea, but it can’t be the core of the project. It should support the core business rather than be it. DAOs don’t seem necessary when your core concept is a single meme coin. Meme coins are fun and a vote from the community isn’t necessary.
The whitepaper describes the “groundbreaking” platform of Vote-to-Earn where people who vote on proposals will be rewarded with tokens $FLOCK. What will the community actually vote on? According to the whitepaper they will be voting on “key product development, new functions, marketing strategy, token-burning plans and expansion plan.” It sounds to us as if these are empty promises. The coin is just one among many. What are their expansion plans? Focusing on a DAO is premature, especially at this stage when the core business of a company has not been established.
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Whitepapers, tokenomics, Flockerz Coin and whitepapers
The whitepaper contains nine pages of information about the project. They include the $FLOCK currency, DAOs, voting to earn, token distribution, roadmap and more. The document is missing some crucial details. How will DAO developed? Who is responsible for developing it? What are your timelines? The content of this article is very generalized.
No proof of progress, development or status
The concept behind a pre-sale is that it involves an investment early in the process, which often means taking a chance, with hopes of reaping a reward. It’s understandable that early stage projects have little to offer. A project that claims to have raised millions must at least demonstrate progress toward roadmap milestones. This isn’t small money. The total lack of disclosure while raising substantial amounts is a major red flag for us. It raises suspicions about a possible scam.
While the project has successfully passed two audits by Coinsult Solidproof, they only cover the basic $FLOCK token functionality. No one of them covered the core DAO functionalities. DAO Development is a complicated process that involves extensive development, testing and auditing. While the project passed two audits so far, none covered the DAO. That is why they are less important.
Notorious Marketing Network
The project has been promoted by an online network that is known to promote low quality projects with paid advertisements, many of which end up becoming rug pulls. TheHolyCoins had previously covered some projects like Pepe Unchained & Crypto All-Stars. While this isn’t proof that Flockerz has been a scam it is a sign that investors should be wary of possible scam risks.
Flockerz Price Prediction
It is highly likely that any website offering a prediction of the price for $FLOCK coins will be trying to mislead. In the current cryptocurrency market, just having a token presale launch on exchanges is an achievement in and of itself. It’s a ploy by Flockerz to lure investors into high-risk speculative investing. It’s a scam.
Unrealistic reward claims
After the crash in 2022, we thought the majority of people knew that investing for rewards in the thousands is a risky investment and can be unrealistic. It seems that the Flockerz blockchain team did not get this memo. On their website they claim to offer a staking reward of a whopping 1937%, even though this is not in the Whitepaper. This is a red flag because it is a strategy often used to attract new crypto investors by Ponzi scheme-like schemes.
FAQs
Is Flockerz Coin Legit?
Flockerz can be considered a legitimate project. It has been audited rigorously by third party firms, such as Coinsult & SolidProof. These audits ensure the transparency and security of smart contracts. Flockerz’s Vote to Earn (VTE) model and active participation of the community add further credibility to their project.
How Do I Get Flockerz Presale Tokens?
The presale is over with tokens valued at $0.0066883. As soon as the presale ends, $FLOCK tokens will become available for trading in crypto exchanges on January 27,2027. When the tokens go live, you can buy them by following the steps described in the “How $FLOCK Tokens Are Purchased” section.
When Can FLOCK Coins be Purchased?
From the launch of flockerz on January 27,2027, you can purchase FLOCK coins. You will need a compatible exchange and wallet to complete your purchase.
What is FLOCK Crypto?
The native token ($FLOCK), Flock crypto, is part of the Flockerz platform. Vote-to-Earn enables holders to participate and earn rewards in community governance. The $FLOCK token also provides staking possibilities, making it a versatile token in the growing DeFi world.
When does Flockerz’s presale end date?
The Flockerz Presale recently concluded, marking the exciting end of a phase where tokens at the presale rate of $0.0066883 were sold. Since the presale has ended, $FLOCK tokens can now be traded publicly on crypto exchanges.
Final Words
Market is paying close attention to the flockerz cryptocurrency launch. Flockerz has a lot to offer, whether you are an investor searching for promising tokens or a cryptocurrency enthusiast looking for innovative projects. Flockerz’s success in the cryptocurrency space is backed by a robust framework and a community that are highly engaged. The flockerz launches on crypto exchanges will take place on January 27, 2020. Investors earn rewards for purchasing, staking, and voting.