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Sirwin
ihodl_scam?

Is Invest & Hodl (iHODL) a Scamcoin?

By BussTechno | BussTechno | 21 Mar 2021


Back in February I ran across an airdrop on the Birdsite for Invest & Hodl.  They were offering a $10 iHODL drop and the ability to make $10 for each referral- I like free money, and can be impulsive at times so I decided to sign up and give it a try.  This is an attempt to write an actual review, so I will NOT be telling you how great I believe this project is in order for you to use a referral.

What is it?

Invest & Hodl is an Ethereum based ERC-20 token.  It is a basic staking dAPP allowing you to swap USDC for their in-house iHODL token and stake it to earn yields.  It has a supply of 200M and is currently in its first phase of sales with a $1 (1 USDC) price. The initial phase will attempt to sell 10M tokens and pay out a 10% yield. The second phase will price itself at $1.25 USDC, attempt to sell 40M tokens, and pays an 8% yield. Phase 3 will release 50M tokens, sell at $1.45 USDC, and pay a 7.45% yield.

Their whitepaper reads like a garbled Google translation input by a 5th grader with very little information to glean on how they intend to earn their staker's money on the back end.  I think I deciphered that they are trading fiat currency and/or purchasing and selling stocks on the open market, but they don't make their methods clear.  There are literally 20 pages of filler in which definitions ripped from Wikipedia are added in order to create some false semblance of legitimacy, but it does not really relate any of the definitions to iHODL or their plans.  The entire paper is only 37 pages in extremely large font with key hype words like Ethereum, Satoshi, Bitcoin, and blockchain.  There is even a lengthy definition of what a Ponzi scheme is and why they are not a Ponzi. Yet, they don't really give a convincing answer to why they aren't a scam:

 

2) Why l&H isn't Ponzi?

The l&H company does not promise to iHODLer's a disproportionate earning model, does not give the payment received from the new user to the old one. By including investors funds in the main investment fund and placing it in the daily trading strategy; l&H provides gains with low risk potential. l&H transparently shares own balance sheet with iHODLer's. The decisions taken within the company are shared with the iHODLer's.

source: ivesthodl.com whitepaper

 

"The lady doth protest too much, methinks".- Hamlet, Shakespeare.  Well if the statement above doesn't instill confidence in this $h!tcoin I don't know what would.

The Core Development Team:

Um, who the hell is the core team?  Nowhere on their website does it show who is on the development team.  Youtube has no videos.  Facebook has three posts.  Twitter has 9 posts.  Medium- 3 posts.  None of the sites mentioned have any information on who the core development team is.  This is something I want to know if I am going to place my money in to a business/investment device.

Okay what about Domain Name Registration, maybe this extract will tell us a bit about them:

Raw Whois Data

Domain Name: INVESTHODL.COM 
Registry Domain ID: 2555594020_DOMAIN_COM-VRSN 
Registrar WHOIS Server: whois.name.com 
Registrar URL: http://www.name.com 
Updated Date: 2021-01-29T23:19:49Z 
Creation Date: 2020-08-25T20:22:11Z 
Registrar Registration Expiration Date: 2026-08-25T20:22:11Z 
Registrar: Name.com, Inc. 
Registrar IANA ID: 625 
Reseller:  
Domain Status: clientTransferProhibited https://www.icann.org/epp#clientTransferProhibited 
Registry Registrant ID: Not Available From Registry 
Registrant Name: Whois Agent 
Registrant Organization: Domain Protection Services, Inc. 
Registrant Street: PO Box 1769  
Registrant City: Denver 
Registrant State/Province: CO 
Registrant Postal Code: 80201 
Registrant Country: US 
Registrant Phone: +1.7208009072 
Registrant Fax: +1.7209758725 
Registrant Email: https://www.name.com/contact-domain-whois/investhodl.com 

No help there as they have have masked their registration.  That's not completely unheard of but generally legitimate companies will have information publicly posted.  It's a little SUS.

Finding Their Revenue Model

Looking into their Privacy and Policy Terms of Use it appears I may have found their real revenue model...It's their user base.

3.8 For Marketing and Advertising

We may share your personal information with our marketing partners for the purposes of targeting, modeling, and/or analytics as well as marketing and advertising.

3.9 For Rebates

We may share the information collected, including but not limited to your Identification Information and Transaction Information, with your referrer for the purposes of rebates and other benefits.

3.10 For Any Other Purpose

We may disclose your personal information for any other purpose you consent to.

source: https://www.investhodl.com/i/privacy-policy

Current Token Sales:

With 29 days left in the Phase I of token sales exactly 54,139 tokens have been "sold" according to Invest & Hodl.  This low amount does not instill confidence in the project. 

Does the Platform Work and Pay Dividends as Advertised?

It is too early to tell.  I originally staked the $10 iHODL I was gifted during the airdrop and did not use any of my money.  I have been on the platform for one month and admittedly received my first 10% dividend of one USDC.  In order to test the functionality and legitimacy I should have withdrawn the USDC to my wallet.  I did not- I in turn swapped the USDC for another iHODL to stake.  On their website they state it will take 24 hours for a swap to occur once initiated; instead it took 72 hours to process and update into my account.  

Lets Recap:

  • Vague and information-void Whitepaper 
  • Unidentified Core Development Team
  • Terrible Marketing Strategy and Implementation
  • Low Confidence evidenced by their token sales
  • Hidden DNS registration
  • 10% paid after one month but longer than stated swapping period

I can't in good conscience refer this token and would suggest extreme caution be used if you decide to sign-up.  If you want to test it at no monetary cost please be aware that they might sell your personal information and possibly spam your inbox.   I hope I am wrong about this project and that it is just a poorly managed ICO, but this project has too many red flags. This is NOT a project I would place any of my money into, but since I already joined the airdrop, I am going to let it play out using the airdrop tokens.  Is it scam or just a $h!tcoin?  I'll let you be the judge.

If you enjoyed this content please feel free to give me a like below and I'll see you next time.

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BussTechno
BussTechno

Technologist, libertarian, and jpegs


BussTechno
BussTechno

I write about Technology, Crypto, and JPEGs. If I write about it and own a position- I will disclose it. *For entertainment only*

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