{"id":586401,"date":"2024-10-11T15:10:18","date_gmt":"2024-10-11T15:10:18","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=586401"},"modified":"2024-10-11T15:10:18","modified_gmt":"2024-10-11T15:10:18","slug":"first-vote-to-earn-v2e-meme-coin-flockerz-hurtles-past-600k-in-presale-offers-2959-staking-apy","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/first-vote-to-earn-v2e-meme-coin-flockerz-hurtles-past-600k-in-presale-offers-2959-staking-apy","title":{"rendered":"First Vote-To-Earn (V2E) Meme Coin Flockerz Hurtles Past $600K In Presale, Offers 2,959% Staking APY\u00a0"},"content":{"rendered":"

Flockerz ($FLOCK)<\/a> has reached a total of $600,000 in its ICO as it continues its mission to put the power back in the hands of the crypto community.<\/p>\r\n\r\n\r\n\r\n

Armed with the first-ever vote-to-earn (V2E) mechanism, propeller-beanie-wearing feathered friends are taking flight in the crypto stratosphere, driven by eager investors hungry for control over their meme coin holdings.<\/p>\r\n\r\n\r\n\r\n

Another reason investors are flocking to the presale of its native token, $FLOCK, is its mouth-watering staking rewards, currently perched at a dazzling 2,959% APY. This gives contributors a fantastic opportunity to beef up their holdings in what’s being dubbed “The People’s Meme Coin.”<\/p>\r\n\r\n\r\n\r\n

And investors can join the movement by snagging a $FLOCK token for just $0.0057469. However, as the presale advances to its 13th funding stage, the price will rise to $0.00576990 to welcome new investors.<\/p>\r\n\r\n\r\n\r\n

Pump.Fun? More Like The Pump Is Only Fun For One<\/h2>\r\n\r\n\r\n\r\n

The problem with most meme coin projects – and even some crypto ventures – is that they’re often ruled by a lone decision-maker. In these cases, decentralization becomes just a catchy buzzword for the underlying technology of the token.<\/p>\r\n\r\n\r\n\r\n

When one person is calling all the shots, the risk of that individual falling for financial temptations skyrockets. If that happens, they might easily hand over the reins for a big payday from larger investors (e.g. venture capitalists), tipping the scales heavily in their favor.<\/p>\r\n\r\n\r\n\r\n

These big players often swoop in ahead of everyone else, leaving incoming retail investors to play the role of exit liquidity.<\/p>\r\n\r\n\r\n\r\n

On a more sinister note, these one-person shows can also turn out to be scams. Tokens without proper smart contract audits can become hotspots for rug pulls, leading to the staggering $1 billion in investor losses recorded so far in 2024 due to such shenanigans.<\/p>\r\n

<\/p>

Rug pulls are a common occurrence in crypto.

Here's some reality checks:

⇢ Losses due to rug pulls may reach the $1 billion mark in 2024 (Currently sits on ~$500m).
⇢ Approximately 15 new scam tokens are identified every hour.
⇢ There are 2,000,000 + tokens on @pumpdotfun<\/a>
⇢… pic.twitter.com\/b7oaad4CeB<\/a><\/p>— Eli5DeFi (@eli5_defi) October 11, 2024<\/a><\/blockquote>