I keep seeing people blindly investing in projects. Unfortunately, in some cases even celebrities are endorsing scams now, causing confusion at best and huge investment risk at worst.
One in particular that just simply blows my mind is AUDIUS, and it’s traded coin AUDIO. The premise of which is to be a “competitor of Spotify”.
Simply put, DO NOT INVEST IN THIS COIN!
How do I know that Audius is a scam…?
1) When it was released, they never even bothered to announced their tokenomics and subsequent initial token distribution. That’s right…they asked people to blindly invest in their platform without a formal economic structure in place…the sad part is, people STILL invested…
2) later…AUDIUS did (finally) announce how the coins were distributed. But, not by posting it easily on their website, and making sure it’s accessible….it was buried and hidden from the community. They announced the tokenomics by way of (a very professional s/) paid medium article….no I’m not kidding…
Which, describes that the vast majority of the coins would/are owned by Audius. They did however take the time to call themselves 3 different names, to make it a little more confusing.
Here, is a summary:
40.6% went to “team” (aka – audius team) 36% went to “investors” (aka – audius team) 17.8% went to “Treasury” (aka – audius team)
in total that = 94.4% of distribution went to AUDIUS team
Okay okay, I know what you’re thinking…but is that REALLY true?! How could the company be convincing major celebrities (like Zedd) to participate in this scam? It’s simple…paid adoption. They pay these celebrities (that know nothing of tokenomics) to list on their platform. It’s an easy $25k for them, and they barely think about it again. All the while, Audius gets falsely portrayed as a legitimate investment, backed by celebrities.
Proof: – Top 10 Audius wallets hold 92.21% of total supply – Top 50 Audius wallets hold 96.29% of total supply – 96.9% of the total supply of Audius Is owned by the top 100 wallets ONLY