The biggest fundraiser in the history of cryptocurrencies
continues since January 10. PulseChain, a fork of PancakeSwap, has managed to raise nearly $1 billion in various cryptos under the name PulseX.
Behind these record numbers is the DEX PulseX, founded by well-established, but also sulphurous, crypto investor Richard Hart. By donating their currencies to PulseX, investors will receive airdrops from PSLX. The project met with great interest, as well as many critics. Its creators explain that PulseX was created to decongest the Ethereum blockchain, which sometimes suffers from very slow transaction speeds and high fees.
The “sacrifice” of coins for a record fundraising
” By sacrificing your crypto, you are not buying PLSX. You can donate your crypto, making a political gesture. Here is a press release from PulseX, formerly PulseSwap, which should confuse many investors. However, this decentralized exchange platform has achieved the largest fundraising in the history of cryptocurrencies. The most commonly “sacrificed” coins are Ethereum, Shiba Inu, HEX and USDCoin.
We use the term “sacrificed”, but investors will still receive a counterpart in PLSX, the corner of PulseX, planned with the gigantic Airdrop which must occur with the ICO of PulseX. The unknown in this equation is whether this PSLX will explode in the years to come or if we are dealing with a very large scam.
Because, everyone still remembers the Bitconnect scandal, when a project of the same ilk ended with the flight of its creators with millions of dollars flown away. A classic rug-pull whose main lines were reminiscent of PulseChain, inseparable from the personality of its creator, a multimillionaire and rather megalomaniac developer. Richard Hart is above all the founder of HEX, an ERC-20 token of the Ethereum blockchain, considered by some to be a Ponzi scheme. He has, however, amassed a colossal fortune which he conspicuously flaunts on Instagram, and he remains an idol for those who call themselves Hexicans, people who apparently got rich when the HEX token took off in late 2021.
Objective, relieve the Ethereum blockchain
Any self-respecting crypto project must bring “ a solution to a technological problem. Here it is the throughput issues and high fees of the Ethereum network that PulseChain sets out to solve. Its updates will bring, according to the creator of the platform, a network speed four times faster, a proof of stake (“ proof of value ”) as well as a deflationary mechanism, with a regular destruction of the PSLX coins which will therefore give them value.
These advances would allow PulseChain to become a fork of Ethereum that will provide interconnectability with other blockchains like Solana and Polygon. So will the hundreds of decentralized applications that currently rely on the Ethereum network. The goal is to be able to facilitate trading and offer advantageous staking. On paper, it is an innovative idea, but Richard Hart struggles to convince his detractors, who see in his lifestyle and working methods a vast deception.
One need only visit his personal website to see that Richard Hart proclaimed himself ” Strength for the good of the world and that his long list of personal accomplishments includes the creation of HEX as well as millions of “Airdrops” that would have made his investors rich.
The Hexican Gang
We cannot advise investing in PulseX to anyone who has not learned about this very technical project. Even if PulseChain has some gray areas, especially on its future performance or its usefulness, you should know that the project excites a large number of early fans known as Hexicans. The latter invested early on in HEX, an Ethereum-based token that promised a 40x return on staking. investment.
In the meantime, the extraordinary fundraising continues, as it has entered phase 2, where the bonus volume is multiplied by 2.5. On the front page of the PulseX project site, the first thing you are asked is: ” Are you ready to sacrifice? » A message that is similar de facto to a high-risk investment, but also to an effort by PulseX to slip under the radar of the American regulator SEC.
Source: CryptoSlate
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