Bitcoin, Crypto currency, Blockchain

Fomo3D: lottery, snowball system, record-dApp

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Team just, the developer of PoWH3d, has struck once again. As PoWH3d also the new, less questionable dApp reached a Top placement on DappRadar.com. The Jackpot of the hybrid of lottery and snow-ball system to grow to the equivalent of ten million US dollars. How long can this go well?

The game principle of Gambling-dApp is simple: You buy with ETH so-called “Keys”. Part of the money lands in a large pot (“Pot”). The Rest is to be distributed to those who are already in the possession of one or more Keys. How the money is divided depends on which of the four possible “team” you joined. A 24-hour Countdown timer that is extended with every purchase of a key.

The one who has bought before the expiry of the timer the last Key, receives 48 percent of the Pot’s contents. This is currently the proud 21.400 ETH , the equivalent of almost ten million dollars. Two percent out of the pot go into a community Fund for the benefit of those who have participated in the dApp-development. The remaining 50 percent will go to Fomo3D player and P3D-Token-owner; also, a part is applied in the next round.

The Keys, however, as time progresses, more and more expensive. That is to say, who has secured early a lot of Keys, benefits from those who join later. Therefore, it is now advertised diligently to new users, who are particularly vulnerable to the fear of missing out on something (Fear of missing out “Fomo”),. As it should be for an egregious Ponzi scheme.

Despite the lack of seriousness currently the most successful dApp

FOMO3d not trying in the first place, to talk about his business model nicely. It is by his own admission, an “exit scam”. Also, the URL of the dApp has been chosen with Care: The Name www.exitscam.me leaves no questions unanswered with regard to the seriousness of the dApp.

In spite of – but probably more likely because of – this apparent commitment to be a Scam, domniert Fomo3D in terms of user activity, currently, all other dApps to DappRadar. The dApp currently has over 5,200 active users in the last 24 hours. Almost twice as many as the runner-up, the decentralized crypto exchange IDEX. Also the Numbers of the first Mainstream dApp crypto kitties fade against the success of the quasi-automated pyramid system: Just 350 users have taken care of in the last 24 hours to the rearing and care of the digital kitten and taking it to a trading volume of 22,17 ETH. For comparison: In the case of Fomo3D this value is 2,700 ETH more than a hundred times.

If the madness continues, it’s probably only a matter of time until the impact on the ETH course and the price of gas. For one you have to give a team just at least respect you succeed with your projects beautifully and not without Humor, the absurd excesses of the crypto-Economy. Fomo thank you!

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