 | So yesterday, yet another rug was pulled, by no other than one of SafeMoon's team members. Let's dissect: What is Surge Token and it's Tokenomics?According to their website: SURGE is the definition of a powerful crowd with a lust for upwards movement. Revealing the first token to present features such as liquidity recycling and boosts, harmonizing buy-back features, and deflationary forces in a trailblazing and unrivalled way. To survive the perilous conditions of outer space one needs state-of-the-art technology. SURGE equips the community with this technology. Imagine a token with two kinds of harmonizing buy-back features, in which one is completely independent of volume, this potentially enables the most powerful upward movement yet to be seen in the space by existing tokens. Holders can call the "Upsurge" function, which removes up to 10% from the SURGE/BNB liquidity pool and splits the pair: ⁃ 99.75% of the SURGE is sent to the black hole (= burn address) and 0.25% rewarded to the caller ⁃ 96% of the BNB is used to buy SURGE and 4% sent to the marketing & development fund. Bought-back tokens are sent to the black hole (= burn address) This applies the first buy pressure not directly linked to volume. In addition, it creates the two first deflationary forces. The result is pretty simple; positive price action. Who created Surge?SafeMoon Mark - Yes, he really calls himself that. Who is this SafeMoon Mark guy? Well, most SafeMooners will argue that he was just a college kid and an early investor of Safemoon that started doing YouTube videos made of hopium and fancy math, he was quickly embraced by the community and the Devs ended up hiring him. To me, this is nothing but a publicity stunt, Mark was with them all along. Keep in mind that SafeMoon Mark has never, ever, showed his face, even on AMAs. Oh, and he recently changed his name from SafeMoon Mark to DeFi Mark. A few weeks ago, Mark announced on his Twitter that was releasing a new coin called Surge - All amidst the whale sell off in SafeMoon, needless to say, a lot SafeMooners didn't like the idea, they felt betrayed by what they thought to be, "the voice of the people". Regardless, some others decided to give it ago, most of these people, Safemooners, of course. What was promised with Surge?Basically Surge Token was "rug-pull proof", and according to their tokenomics, the price could "ONLY go up". How many times have you heard something along the lines of - "If they have to tell you they're rug-pull proof, they'll most likely end up rug pulling" Now this is where the plot thickens. Discord Hack WarningA screen-shot from their sub claims that Mark was warned about an exploit on the smart-contracts: The next day the Surge Token Twitter publishes this: Did they just...? Yes, they literally told millions of people that there was flaw in their smart-contracts that could be exploited. It's what I call playing dumb, now the "hacker" could be anyone, great way to cover your ass, Mark. Anyway, just 20 minutes after this announcement, this happens: If people get scammed by fully doxxed teams, imagine putting money on a FACE-LESS project What is there to sell? For those who haven't been following the SafeMoon plot, there are a few people out there trying to expose their scam - Rob's Crypto is one of my favorite channels, the comment section is popcorn worthy. For those who haven't been following his channel, he has been calling out SafeMoon Mark for a 1 on 1 conversation. SafeMooners kept telling Rob to contact SafeMoon Mark, because in their brain, he was going to destroy Rob with his math, but Mark just kept hiding behind an NDA, which makes no sense because why would being transparent about where the money is going be top-secret? Here is his brilliant response after the Surge "hack": Oh and let's not forget this Tweet from Mark himself testing the waters a few days before the "hack": I guess the rug-pull didn't go as smooth as planned since A LOT of people are calling it a rug-pull all over social media. So obviously, SafeMoon devs had to cover their ass, I wonder how much was their cut... Conclusion: TL;DR: SafeMoonMark/DeFiMark, a core team member of SafeMoon made a Token named Surge, explicitly promising that it's price could "only go up" and it was "rug-pull proof". The rug was pulled and was conveniently labeled as a hack exploit on their smart-contracts. They posted about the exploit all over Twitter right before the "hack" to conveniently say that "it could have been anyone" that read the tweet. My heart goes to those who lost money on this, I hope you learned a valuable lesson. EDIT: I just got some more juicy screenshoots, curtsey of u/FritsfromHolland The other part of the conversation where \"Maxence\" told Mark about the exploit
Edit 2: Correction: the last screenshot was not posted after a massive sale off. The rugpull happened after a whale sale off. Making it look like he could see into the future with that tweet [link] [comments] |
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