Caramel dog Token, a project made in the hoax just like Dogecoin was, this time made by Brazilians and the most impressive thing is that the guys are taking it for granted and the price is going up the links down there if you want to play a little.
For now, the project is trying not only to get more investors but also to spread the “message” through memes on social networks.
Promises to be better than Dogecoin and BRL-Real
According to the official website of the currency, the objective of Vira-Lata Finance is to be worth much more than the real, since the currency is deflationary, while the government “prints money non-stop”, in addition to also highlighting the animal that it is the true symbol of Brazil.
"Since our government, despite printing money over and over, did not let us put the caramel pooch on the R $ 200.00 bill, so let's make the reAUUUUUUUU worth (well) more than 1 real.", Says the website.
As well as overcoming the real, Vira-Lata Finance also wants to overcome Dogecoin. To this end, the protocol claims to have different deflationary mechanisms (such as burning coins for the liquidity pool) and also anti-whale protection that prevents any address from being able to control most of the cryptocurrency supply.
In addition, the website also states that if the community fund grows to a certain level, they will place a billboard over the coin in a famous public place.
In addition, there is also an incentive to holders, with 1% of each transaction being distributed among those who have the currency.
It is important to be very careful with meme projects
While the idea of a “Brazilian Dogecoin” with the most famous mongrel in Brazil is something fun, it is worth remembering that memes were born to be fun and not a safe form of investment.
Vira-Lata Finance is part of a market that has been growing a lot (DeFi), especially when it comes to making a funny coin with the objective of generating profit for investors. However, many of them can end badly, such as the case of YAM and its 99% drop.
With the DeFi sector in its infancy, we are at a time very similar to the altcoins market in 2017, very easy to create an asset, even without a very solid basis for the entire project. With that, be very careful when participating in the caramel dog joke inside DeFi.
Cryptocurrency Vira-lata Finance (REAU) falls 90% after coup accusations
After attracting thousands of investors, winning the pages of news sites such as CNN Brasil and being listed on a Brazilian exchange, Vira-Lata Finance (REAU), a cryptocurrency inspired by the caramel “mutt” launched last month, devalued 90 %% since Thursday (1st), when it reached its top.
That day, according to data from the exchange Dex Guru, the cryptocurrency was traded at 0.00000009587 BNB on the Binance Smart Chain. On Sunday (4), digital assets fell 92%. On Monday (5), the cryptocurrency managed to recover part of the value and is trading at 0.00000001644 BNB - price still far from the top reached last week.
The sharp drop occurred shortly after the publication of an anonymous dossier that points out that the digital asset - similar to Dogecoin (DOGE) - has signs of being a scam. In summary, the 21-page document says that the project would be a type of 'financial pyramid' or 'ponzi scheme', in which the success of the business would depend on the entry of new investors.
The team behind REAU - which is unknown - also says that it would be artificially inflating the asset's price to profit from sales, a strategy known as pump and dump.