• Refund Coin launched an airdrop of its native token, RFD, on May 25.
• The resulting network activity helped boost the RFD coin price by 191%.
• Although the project claims to be different, it is unclear on its use cases and the tokenomics remain obscure.
Refund Coin Airdrop
Refund recently announced the launch of their RFD token airdrop on May 25. This sparked network activity that resulted in a 191% increase in the price of their coin.
Backing from Crypto Whale Blurr.eth
The project has received backing from crypto whale Blurr.eth, who supposedly has net worth in nine figures. Refund claims that Blurr conceived this project as a “daring game theory experiment” with the purpose of giving back to the crypto community.
Token Distribution & Decentralization
18 exchanges have listed RLD tokens including BitMart, CoinEx and BigONE. Despite endorsements from crypto influencers, there is little known about RLD coin’s tokenomics such as token distribution or decentralization; top 10 wallets account for nearly a quarter of circulating supply which calls into question their decentralization claims.
Unclear Use Cases
Though Refund claims to be different from other projects, it is unclear what their use cases are besides bestowing “generosity upon the community.” As such, RLD coin remains mostly a memecoin with no clear purpose or value-add except for speculation purposes.
Conclusion
In conclusion, while Refund’s mission may inspire optimism within the crypto space, its native token remains highly volatile and obscure in terms of both use cases and tokenomics; making it difficult to determine any intrinsic value or potential long-term gains associated with investing in RLD coins.