Thread by @RichieLandCom

1.14-Let's examine a project with you today. As you know, we are entering many P2E and NFT projects. We would like to share with you a poorly managed project as a result of our research. Of course, these studies and opinions are personal. #P2E #NFT #LOA

2.14-First of all, it should be noted that research is unique to us, and everyone's approach to research and projects may be different. We will make the statements on a project that has a good hype and that we have invested in. We start with the next tweet

3.14-The name of the project is League of Ancient (LOA) on #BSC . It is a P2E project that has found good support and investors in terms of project visuals and progress. However, we had question marks for the project and we continued our investigations after the token was issued.

4.14-Let's go step by step. It is important to examine the documentation of the project in detail. Because the project seems to have received Certik certificate. But what are the details???? @CertiK is a company that examines projects and evaluates them according to standards

5.14-However, when examined in detail, the Certik certificate mentions unresolved problems. Because of these, it was not scored and could not provide confidence in Certik.

6.14-When the token distribution part of the project is examined, there are many different wallets. However, even though the project has been active for such a long time, the fact that the tokens are still in a single wallet creates a trust problem for us.

7.14-Although the amount allocated by the project to the central exchanges is 50m tokens, I noticed that there is only 3.9m in the Gate.io exchange, where it is listed.

8.14-There is a possibility that the amount that is actually bought from the Gate exchange and then transferred out of the exchange is this high. Or the other possibility is that the project allocated only 8% of the amount allocated to main central exchange Gate

9.14-It caught my attention that the project periodically transfers coins to a designated wallet and sells coins in that wallet and makes BUSD. This may be due to a marketing effort or it may mean that it has been transferred to other unknown wallets.

10.14-That is we shared was only a small part of it. As a result of detailed research, we found worse results. But we cannot share them. So where is the description of the coins transferred to these wallets and sold directly?

11.14-If this is being done by the project itself, it could be a planned rugpull move. This is also called “Soft Rugpull”. On the other hand, if this is a planned process for the market, an official statement should be made. These things need to be explained

12.14-Because the coin is constantly on the decline. It would be correct to make an official statement by the project. Our research on the LOA project is this and more. The LOA is a project that we have invested in months ago.

13.14-The reason why we want to review this project is that has really caught hype. But this hype seems planned and has no future. Because it continues as a project that is developed only through the community, without any development for the game.

14.14-Unfortunately, looking at the token value, there are 2 possibilities for the project, either a very poorly managed project or suspicious and unethical actions. These were the details we could give about the LOA. Please do not make a decision without doing your own research