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Prague
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86 Review
185 Karma

Review on CoinDeal Token by Věra Filipová

Revainrating 2 out of 5

There was a dream which crashed and the token is in ashes

Today I am going to write a quite common story in the crypto space. It is mainly about the unfilled dreams. It is about projectswhich are only able to survive in the bullish market enviroments (in these conditions each project looks great from the ivestors point of view). The main issue with the projets such as with the native token Coindeal (CDL) of the exchange bearing same name - Coindeal is that they have higher ambitions and plans than that they would be able to fulfill in the reasonable future or which are sustainable for longer time period (even in the hars times when bearis sentiment prevails).



img 1 attached to CoinDeal Token review by Věra Filipová

Their native token CDL was invented with lot of features from beginning. The tokenomic has looked great (at least on the paper). Lets focus on the features now.

First of all their token as it is quite common could be used to lower transaction fees on the exchange. This was clear use case and brought the token some value. They have added more. The token itself could be staked with quite high APY (not as high as we can see in DeFi projects and yield farms but still sustainable). Moreover the token could be staked for Bitcoin or Tether. I was typically splitting the amout of CDL tokens for staking (one part for more CDL to stake and enjoying compounding effect and one part for Bitcoin or Tether as kind of long term savings). With first bearish sentiment in sight and with lower interest in their exchange they have lowered APY significantly and the product started to seem unatractive for many.



img 2 attached to CoinDeal Token review by Věra Filipová

It was not all they have invented a really cool feature of tokens (not so typicall). You were able to use the CDL token for voting for new tokens to be listed on the exchange. There was nominations on their twitter where you can nominate the future project to be listed on their exchange (it was times when their twitter was quite active not like nowadays). From the winning projects on the twitter you were able to vote on the one to be listed. The voting was done via the CDL token. If you have chosen the right candidate you were able to get some CDL token from the pool and the amount of giveawayd tokens was pretty high. But there was a catch when they suddenly stopped launching twitter nominations and voting. The whole project seems to crash.

The price was of the token follow the same path. It was rapidly surging from the beggi ning when it suddenly crashed with the first bearish sentiment in sight.

They have tried to revive the token with their tokenomics 2.0 or at least they have promoted it in such way and adverteist the new whitepaper. But nothing really happened. The project which looked great is now unfortunatelly almost dead.





img 3 attached to CoinDeal Token review by Věra Filipová



Pros
  • dream and ambition
Cons
  • was not delivered for the long term

Comments (1)

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May 14, 2022
It is quite sad if the project seems really good in its ambition but failed to their promises. The only good thing that it was not so severe such as Terra Luna. It could go completly down.