Question - how to know if a token is the real deal?

Question - how to know if a token is the real deal?

By Kopi | kopiarticles | 28 Aug 2021


I have a question, and can't seem to find the conclusive answer. Hoping the community in Publish0x can help! 

As a Polygon user, I was surprised to come across the AVAX token on QuickSwap. Does it mean I can own AVAX (and its potential to rise in price given its ongoing incentive program) without moving onto the more expensive Avalanche blockchain? I'm intrigued!

I went ahead and purchased a small sum (slippage is real, it's trading at least a dollar higher than CoinGecko's price when I checked), and QuickSwap provided the link to the token address. Looking at it, it looks... off. So I went searching for the token address on CoinMarketCap and found that there's only 1 contract under Avalanche blockchain. So... Is this real or not? Erring on the safe side of doing some research, I've decided to sell the AVAX holdings on Polygon till I have a better understanding of what's going on. On a side note, transaction hasn't been able to go through - network congestion?

To those in the community - if you have a better idea on this, appreciate if you could share your wisdom!

Link: https://polygonscan.com/token/0x2c89bbc92bd86f8075d1decc58c7f4e0107f286b

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Link: https://coinmarketcap.com/currencies/avalanche/

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Kopi
Kopi

A cup of coffee a day, to pursue more knowledge.


kopiarticles
kopiarticles

Sharing the learnings I come across, and learning together as a community.

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