Over the last few weeks, there have been dozens of media outlets hyping RoboApe (RBA) as the next big meme coin, stating that it might even replace Shiba Inu (SHIB).
This is mostly due to the cutting-edge gaming and educational experience that RoboApe will be able to provide to its holders.
However, during Solidity Finance’s smart contract audit of the RoboApe presale, a centralization warning popped up.
This raised many red flags about the project and investors are starting to get worried about whether they’ve made the right decision.
So, will this turn out to be a small technical issue or is RoboApe (RBA) a scam? It seems like it. That’s why people are joining more solid projects like Tamadoge, an actual memecoin with a solid case. You can find out more below.
Tamadoge Passed the Solid Proof Audit with Flying Colors
There is one more meme coin presale that’s currently making strides – Tamadoge (TAMA).
This P2E crypto game was also built on the Ethereum blockchain, but unlike RoboApe, it was KYC-verified by CoinSniper and smart contract audited by SolidProof.io, without any security issues.
Tamadoge is one of the most unique meme coins in the market due to one simple fact – it comes with utility.
It isn’t a typical doge-themed meme coin with a cute picture; instead, Tamadoge rewards players with TAMA tokens for skilled gameplay.
Additionally, we can see on Tamadoge’s whitepaper that there aren’t any tax fees imposed on TAMA transactions. Compared to RBA’s 30% fees, this project seems much more reliable.
During its presale, RoboApe has so far sold around 23% of available tokens, which is fairly low compared to Tamadoge’s 50%.
Lastly, numerous high-authority websites like Business2Community have reviewed the best crypto presales at the moment and RBA didn’t make their lists.
How to buy TAMA?
Beta presale of this token started on 25th July 2022. The Beta presale should end on 2nd September, and the general presale – following the presale- will end in Q4 2022.
Everyone interested can buy TAMA with ETH or USDT, and there is no minimum amount of money required for the purchase. However, the Tamadoge team advised everyone who wants to buy the tokens to make the purchase of a minimum of $150 worth of ETH or USDT.
The price is $0.01 for 1 TAMA or $100 for 10,000 TAMA.
Here is a short guide on how to buy TAMA tokens:
- Set up your wallet – Tamadoge uses Metamask or Trust Wallet to store tokens.
- Obtain ETH or USDT – You will be able to buy TAMA with these funds
- Visit the Tamadoge website – This is where the presale happens.
- Make a purchase – Click on Buy, then click on Connect wallet and connect your wallet.
- Buy Tamadoge – Enter the amount of TAMA coins you want to purchase and click Convert ETH.
- Claim your tokens – Once the presale ends, you can collect your tokens by clicking the Claim button on the website.
Solidity Finance Audit Didn’t Go as Planned
Solidity Finance is known for its thorough testing in various vulnerability categories, including automated testing, in-depth manual review, resolution of issues, and logical errors.
RoboApe token passed all of these categories, except for one – ‘Centralization of Control’.
The problem emerged when Solidity discovered that the RoboApe founders have the right to “upgrade the [smart] contract at any time” and embargo transfers to any account address.
Also, they can set a “maximum transaction amount and wallet value”.
This tipped off a lot of red lights in the Solidity Finance system.
What’s more, the situation is fairly similar to the Bitsubishi (BITSU) crypto project that used to be immensely popular on CoinMarketCap and PancakeSwap due to its high percentage gain after the IDO.
However, even despite this “success”, token owners couldn’t access those gains and sell BITSU for a profit.
There was a warning sign posted on CMC, but it was too late since the traders that invested early couldn’t get their money back:
“The smart contract of the following asset can be modified by the contract creator (for example: disable selling, change fees, mint new tokens, or transfer tokens). Please DYOR and proceed with caution.”
Is RoboApe (RBA) a Scam?
Although there were seemingly no serious concerns about the legitimacy of the RoboApe coin at first, investors are now starting to get worried due to this latest information.
While RoboApe does share some similarities with the BITSU currency that turned out to be a scam and rug pull, we still can’t say with certainty that RBA is a scam.
Here is what Solidity Finance wrote in the audit:
“Any user can nefariously set these values and place restrictions on all token transfers on the platform. Please ensure trust in the team prior to investing as they have substantial control in the ecosystem.”
According to several media outlets, the RoboApe team has taken this issue seriously and has implemented the suggestions that Solidity made to resolve the security complications.
However, investors are still wondering one thing – why were there security complications in the first place?
What’s more, the identity of the founders is still unknown since CoinSniper hasn’t KYC’d the project yet (team identity audit).
And, since Solidity Finance found out that the RoboApe team can increase trading fees on RBA tokens up to 30%, even if early investors want to sell their coins, they might end up paying a hefty price for it.
The official presale for RBA tokens started on May 17th and it will last until August 29th.
Quick reminder – RBA is an ERC-20 meme coin currency that has a 900 million supply and it’s currently priced at $0.006173 per token.
Because of this latest warning from Solidity Finance, a huge number of investors are having second thoughts on whether it’s safe to buy RoboApe tokens.
Currently, there is no concrete answer to whether the project is a scam or not.
But, considering the similarities that the project has with some of the previous cryptos that turned out as scams, it might be better to wait for new updates until you invest any serious money.
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