Review on Lordless by Kyle Sting
Lordless - Innovative Airdrop Platform Gone Wrong
Caution: This dapp is high risk and most likely an exit scam. Please use your best judgement before proceeding!
Lordless is an innovative dapp created to offer a fun and engaging user experience when claiming airdrops. The project sought to gamify the way users interacted with new projects and to create a healthy ecosystem by distributing returns to bounty hunters (The airdrop recipients), Tavern owners (Users who own a Tavern NFT) and the companies providing the tokens to raise brand awareness for their project.
Lordless once had a flourishing community and was a great startup project featuring a few active sponsors providing coin rewards and many bounty hunters. They had a successful fundraiser by selling Tavern NFTs to their users and bounty chests were being opened with Lordless tokens slowly climbing in value.
Users could stake Lordless tokens (LESS) to grow Hops (a secondary token needed to unlock bounty chests) and reap the rewards. Tavern owners earned even more rewards by claiming a portion of all bounty hunters earnings in their Tavern in addition to increasing equity values as these taverns leveled up.
Months after the Hops update the project stopped communicating and the leader Euriechen hasn't spoke to the community since which has been well over a year now. The bounty contract ran out of gas and was never refilled rendering created bounty chests worthless as they could no longer be unlocked.
The Less token still trades on few small time exchanges at a mere fraction of its former glory and some sketchy practices were taken by the team such as airdropping a fake token they created in lottery contracts to raise additional funds.
In conclusion, Lordless is most likely an exit scam and has engaged in some shady practices. The lack of transparency and no contact from the project owner in over a year raises red flags across the board. I would not recommend this project to anyone!
Pros
- Innovative idea at the time to gamify airdrops
Cons
- Project ran out of funds and hasn't released an update in over a year
- Project leader doesn't communicate
- All known investors lost major funds investing in this project
- Lordless has bugs and usually doesn't work at all with its trust wallet integration
- Bounty chests cant open anymore and has been an ongoing issue for a year
- Large community bias about it likely being an exit scam
- Has engaged in shady practices such as offering a fake token to the community
- Original Lordless Twitter account was banned
