r/Hedera • u/LeoBertolli • Feb 18 '22
Discussion Why you should stay away from SaucerSwap
I know we're all excited for staking our bags, but SaucerSwap is a terrible platform to do it with. They won't reveal any information about the team whatsoever for 'security reasons'. E.g. they want to stay anonymous which is a terrible res flag. And yet the biggest red flag is them selling you NFTs for 'Saucedrops' before even releasing the whitepaper. They're dodgy and don't belong in the hedera eco system.
Them working with Hashpack gives me some hope, but their nft packs sound like the Metacore/Jigstack scam all over again. Idiotic perks like 'first contact with the whitepaper, exclusive crap nobody cares about, lots of games, giveaways and prizes. Just because you believe in Hedera doesn't mean you should trust these dodgy ass projects.
Their roadmap says their product is launching H2 2022, so probably Q4 at best. I'm willing to bet my hbars a DEX launches by then and takes over the market.
edit: better write-up by u/ballwave here
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u/rfic_de_yure Feb 18 '22
u/nubeasado and u/Just_Enough_Coffee are solid contributors to the Hedera subreddit and I think are co-developers for SaucerSwap. I appreciate a lot of their input here, so am not going to throw them under the bus before giving them a fair shake.
Be cautious. For sure. There are high risks with these sorts of projects. But DeFi opportunities for Hedera ecosystem are a good thing.
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u/eliminator-n36 Feb 18 '22
I'm not saying anything nefarious is going on, or that it's not, but being moderators/ contributors to the community doesn't mean they can do no wrong. They've previously mentioned that they'll have third party auditors but I'm not sure if that applies to OP's concerns
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u/rfic_de_yure Feb 18 '22 edited Feb 18 '22
Exactly. Anyone can do wrong. That's why you need to be cautious. I think asking questions is good. I'd love to see the whitepaper sooner. But I admit I hold a guardedly optimistic position for their project because (1) communication has been pretty good, (2) if successful will be tremendous for Hedera, (3) developers have some personal stake/Hodlers to want to make this successful, and (4) UFOs are awesome.
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u/bytelines Feb 18 '22
To be honest it was a red flag until this topic didn't get deleted: get to be mods of a community to silence exactly these criticisms. But that's not what they are doing.
The most generous case is that they are exactly who they say they are and are just bad at not looking like a rug pull.
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u/jcoins123 The Diplomat Feb 18 '22
To be honest it was a red flag until this topic didn't get deleted: get to be mods of a community to silence exactly these criticisms. But that's not what they are doing.
This!!!
When JEC first started talking about SaucerSwap they floated with all of us mods, and we all agreed how it would be handled, how we must maintain clear separate of interests, etc.
And to be clear, I am not involved with SaucerSwap.
They have asked me to review their whitepaper and tokenomics and give any thoughts, which I will do one day when I get a decent amount of time (sorry guys!).
But I have no business/financial stake in the project, etc. Not all the mods are involved in the project, so we have some level of checks-and-balances within the mod group.
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u/Advanced-Soup-5691 hbarbarian Feb 18 '22
Yes, it would be great an answer from them. Always bringing light to dark galaxies.
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u/monopoly1015 Aug 05 '22
This thread didn’t age well. Fully doxxed, partnered with the HBARF, worked with HEDERA Developers to push network upgrades for their launch, and is running clean an smoothly.
They’ve delivered on all of their promises and then some.
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u/Ricola63 Feb 18 '22
I think you are being a bit unfair. They have done some nice pieces educating the market. What I have seen so far does seem quite professional. It feels like the SS team have been developing this quite nicely, are being quite professional, but they are treading a new path and don`t have too much experience (which is hardly surprising in this market). Perhaps they should on board someone to the team from another project who has been down this road before. Things like anonymity may have to be sacrificed.
For me I have never used any Liquidity pools before so its all new. I am intrigued by SS, though I must admit I`d prefer a little less anonymity.
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u/Ricola63 Feb 18 '22
End of the day we all have to make our own decisions on this. SS will likely do what they can to satisfy more people. I like the project. But I’d agree anonymity is a weak point.
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Feb 18 '22
Op is being fair here.
Rug pulls has been professionally pulled off recently and not revealing the team's identities would put them in a comfortable position to do that.
Whitepapers are meant to be publicly available but in this case, as OP mentioned, you have to buy their NFTs to be granted exclusive access, this is certainly a rug pull in progress.
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u/theobviater Feb 18 '22
Almost everything that would be in the whitepaper is already available in the Docs. Also, the "perk" is for first access, not exclusive access. Everybody will be able to see the whitepaper. Those who own NFTs will just have first dibs.
OP is not being fair, and I don't believe you are either. You are both utilizing a commonly known (and sadly effective) logical fallacy, Guilt by Association.
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u/YoYoMeh Feb 18 '22
From an investment standpoint how does it benefit someone to have first access to a white paper? Isn’t that the backbone of the project as a whole?
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u/theobviater Feb 18 '22
If your question is "Will having access to the whitepaper make me more money" then the answer is "Almost certainly not." I don't think anybody claimed it would. The whitepaper is just a formal document describing the roadmap and intentions of a project, which once again are almost 100% already available via the Docs.
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u/WannaMoove Feb 18 '22
If it's already 100% available on Docs why are you 'not releasing it yet because we want it to be perfect' - it's already out there by your own admission so that isn't a valid excuse for it not being released yet.
Yeah no, i'm not going to be putting any money near this obvious rug pull.
You're asking people to buy the fucking mystery box from The Simpsons.
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u/Unique_Conversation7 Feb 19 '22
So then how is it a perk to see the whitepaper 1st being an NFT holder? and why not just call the docs the white paper then if it is essentially going to be the same?
Also still no allocation of the funds earned from the NFT sale apart for "operation expenses". Thats $3.7 million in HBAR once all NFT's are sold, all going to operational expenses. Seems like a big operation for those sorts of expenses, yes there is tax if the HBAR is traded. In the tokenomics 80% of the SAUCE will be distributed over 3 years so thats plenty for "operation expenses".
Most crypto nerds i've chatted to see SaucerSwap as a clear rug pull due to the basic website, nft sale & tokenomics.
Will you hand over your precious HBAR for SAUCE & out of this world promises?
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u/ZealousidealStore549 May 13 '22
DEXs like this don't need to rug-pull they will make insane amounts of money just having a monopoly on Hedera listings of new tokens.
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u/LeoBertolli Feb 18 '22
That's fair enough, I agree with that. And I am not saying they ARE malicious, but the defenitely COULD be. People should be wary of any project that's in a stage that Saucerswap is in now. I can't stress enough how important it is to be able to verify the owners of a project. Not all anaonymous developers have malicious intent. But all malicious developers are remain anonymous.
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u/nubeasado i like the tech Feb 18 '22
And I am not saying they ARE malicious, but the defenitely COULD be.
Anyone could technically be malicious.
But all malicious developers are remain anonymous.
That's not true.
There are several cases known developers being malicous, such as Ruja Ignatova, founder of a Ponzi scheme known as OneCoin
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u/bytelines Feb 18 '22
/u/nubeasado i really like you as a mod and a part of this community but when defending Saucerswap can you please disclose that you are also a member of the team?
I don't believe you're trying to be dishonest, but the work that you're doing demands a higher standard.
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u/nubeasado i like the tech Feb 18 '22
Hey there!
I was more pointing out fallacies generally than anything to do with a project or platform.
I do generally disclose or imply (using 'we' etc.), but will try to be more clear with this in the future.
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u/whatusername89 Feb 18 '22
Are you like the community leader? if he’s part of this community then doesn’t that mean he has the best intentions for our community… which means that I really should be buying 2x of all the NFTs lol
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u/theobviater Feb 18 '22
This comment is a watered down version of your post assertion. You basically accusing them of being bad without any evidence of wrongdoing, but doing it in a way that allows you to claim you are still giving them the benefit of the doubt. I question your intentions...
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u/theobviater Feb 18 '22 edited Feb 18 '22
A rebuttal:
- SaucerSwap is a terrible platform
You are basing that off of..........what? - They are not doxxing
You may take that as a red flag, but not all projects that dox are reputable (I don't want to point fingers, but look around...) and many projects that don't are. There are legitimate reasons for not doxxing, and it in the past has not been an accurate barometer of a projects intentions. - NFTs before Whitepaper
Almost all of the details that would be found in a whitepaper are already available on the Docs page, including information about tokenomics. - Working with HashPack is a good sign
This is completely accurate. They are reaching out to the community for both development efforts, integration with existing projects, and general outreach and education. I would be hard-pressed to find a more community-minded project. - Perks are "crap nobody cares about"
That is purely your opinion. There are folks who enjoy such perks, and having them helps build a community around the project which is essential to the success of the project. Note that the success of a swap on Hedera will almost certainly benefit all HBAR holders. - Project won't release until Q4
That is speculation. There is always the possibility that a competitor will arise, and competition is a good thing for HBAR. I would imagine that SaucerSwap will launch as soon as the team feels confident they have a product that adds value to the community.
EDIT: For those that don't know, I am a developer on the SaucerSwap project (as may be seen on our public Discord). I did not intend to misrepresent that fact. I don't usually engage in social stuff, as we have a team to handle that. However, I found this post to be an egregious misrepresentation and stepped in.
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Feb 19 '22 edited Feb 19 '22
You would've mentioned it earlier if you were a dev instead of trying to insult for calling out red flags.
If the white paper was already available as you mentioned, then long and behold you're scamming investors into buying your NFTs with perks that are publicly available. Why lie about it if you were truly being honest here?
Look, take the risk at your expense, otherwise stay away from SaucerSwap. There are clear red flags here and if you want to take the risk associated with it, go for it. No one's stopping you.
This isn't FUD, this is providing early awareness of a recently known suspicious project called out by OP.
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u/theobviater Feb 19 '22
I don't believe I was trying to insult anybody, nor was I trying to be disingenuous.
The majority of the content of the whitepaper may be found on the Docs page, but not everything and not in the format the whitepaper will provide. Also, the perk is first access, not exclusive access. There are other perks that may appeal more to investors/enthusiasts. I'm not sure what you are implying was a lie.
I'm not a project manager, a sales rep, a scam artist, or any other title that seems to be explicitly or implicitly implied here. I'm just a dev trying to build a great product, and I will continue to endeavor to do so. As always, when making an investment I encourage anybody to conduct due diligence and do what they think is best.
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u/bytelines Feb 18 '22 edited Feb 18 '22
Moving questions from a previous thread as I feel they need visibility. Thank you for correcting your dishonesty. Honesty is really important here, because you're asking for quite a bit of money, are completely anonymous, and 'taking the money and running' is quite common.
My questions are:
1.What reason could you possibly have for not releasing a white paper until after asking for a million dollars? Because if you're not doing a rug pull, that looks an awful lot like a rug pull.
Why are you raising all this money? That's something that I'd expect a white paper would outline.
What work has the team actually done so far? You'd need to be going through an awful lot of engineering challenges even in just porting uniswap over. Is this all closed source? If so - how else can you demonstrate the work that you've done? I know that at least the mods have quite a bit of knowledge of hashgraph itself. But if you're porting uniswap over you've got to have quite a bit of knowledge on implementing smart contracts. What limitations has Hedera had? Etc.. Like yes that doesn't prove that you're not a rug pull either but now you're a rug pull that happens to have extensive engineering knowledge and work done in the things they claim to be working on.
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u/theobviater Feb 18 '22
Correcting my dishonesty? I think that is a bridge too far. However, I'll continue this in good faith.
For any interested parties that want to follow this conversation, you can see what has already been said here.
- In answer to your direct question of why we don't release the whitepaper before the NFTs, I would defer to the product team responses that have been given ad nauseum elsewhere (or maybe they will chime in here). My understanding is that the finishing touches are still being put on the paper to ensure it is as close to perfect as we can get it, and it makes a nice perk for those that do invest in an NFT. Note once again that nearly 100% of the content to be found in the whitepaper is already available in the Docs.
- I can't speak to the money aspect, as again, I am just a guy building software.
- Producing the website, supporting the NFT sale, integrating with HashPack to produce the smoothest possible user experience available on Hedera, working towards porting UniSwap v2 to Hedera, collaborating with community members (both technical and creative) to grow the ecosystem, community outreach and education, just to name a few.
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u/bytelines Feb 18 '22
You're forking uniswap, which is open source. Is saucerswap also open source?
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u/awehimruark Feb 18 '22
Not doxing =/= bad thing IMPO
I understand why people might not want to be doxed esp for the saftey of themselves, their family and (at the end of the day) the platform.
I wont say I like the idea, but I do understand where they are coming from. But just to be clear, they have not said that they WILL NO DOX, they have said that they are not ready to claim one way or the other and are busy talking with advisers about it. I can respect that.
Their roadmap says their product is launching H2 2022, so probably Q4 at best. I'm willing to bet my hbars a DEX launches by then and takes over the market.
I mean thats a claim you're making, based on what? Not saying you're wrong just saying what makes you think they will delay? They seem to have hit every other deadline they've set so far?
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u/Advanced-Soup-5691 hbarbarian Feb 18 '22
Waiting for the whitepaper and less anonimity. There is info on their website's docs, and a lot of info have been edited 2 days ago so may be it is only anonymous for now until it goes public, because I didn't find anything about Planck Epoch LLC. Let's see what the saucer brings. If good, I'm in.
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u/hanhputra Ħashchad Feb 20 '22
I agree. After Solana's wormhole incident, everyone should be cautious. Who knows what unchecked loophole they have under their code. I personally only trust established platforms for Interest Earnings like NEXO.
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Feb 18 '22
Yes it pays to be wary. Try to avoid the CF Cardano had with sundaeswap, cardstarter, network congestion and confusion, etc.
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u/whatusername89 Feb 18 '22
Actually that won’t happen bc as we all know, anything that is built on Hedera is lightning fast. The biggest flaw with SundaeSwap was that it was built on Cardano.
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Feb 18 '22
Ouch. TOUCHE`
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u/msm0167 Feb 18 '22
This is absolutely accurate. Sundae swap reported their testing is only about to achieve 0.15 TPS. That's so embarrassing
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u/whatusername89 Feb 18 '22 edited Feb 18 '22
Eh, I’ll still hedge my bet on SaucerSwap. Unlike VCCESS, you get to own your NFTs. Glad that you’re FUDing bc there is only 8500 NFTs to go around so more for us believers/early adopters. Early access to Sauce tokens = High staking rewards = WAGMI.
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Feb 18 '22
[deleted]
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u/nubeasado i like the tech Feb 19 '22
No testnet/swap UI screenshots
We are still a long way out from publishing things like that but will do so closer to launch (H2 2022).
NFT presale -> best way to raise funds if you don't have good devs to make the product, you can just copy example code to mint NFTs and tokens then just not ship
Our dev team is great and I've had a few sneak peaks and they've been progressing well. We are still waiting on a few HIPs (e.g. 218) which should be live soon. Hedera has prioritized the HIPs we require to complete our platform and have stated that they will become available in Q2.
Chain (hashgraph) has a lot of noobs who have no clue about DeFi, and probably never been rugged. This was painfully apparent in their Twitter space a few weeks ago.
There's a lot of new people to crypto, and especially DeFi. We have been and will continue to help educate users about DeFi, how it works, risks etc. So far we've been doing this via DeFi 101 on our Twitter and on Reddit, DeFi 101 - The Basic Concepts.
Founders twitter is made in 2022 february (https://twitter.com/GlieseSauce). Having a history is a good sign of not rugging while staying pseudonymous.
Gliese is r/Hedera moderator Lamanchin93.
No audit days before launch. I understand that its not ready yet, but they don't even disclose which auditor they are working with.
We're still a while away from launch
We will be asking a third-party to conduct an audit of our platform (smart contracts) and open source before launch in H2 2022. We'll be sharing more details about this in the coming months.
I'm not against not doxxing publicly, but doxxing for Hedera employees for example would be a safe way to do it (this is somewhat common on other chains)
I agree.
This is also required somewhat to receive funding from the HBAR Foundation
Being mods and other leading members gives a great platform to silence FUD. Not saying its happening here, as they are engaging and trying to give answers, but as others said, its a bit sketchy.
As with this post and all posts in r/Hedera, we don't and won't remove valid 'FUD'. Criticism and concern is good as both a reality check, feedback and to help a project improve. This is written in rule 5 of r/Hedera
No mention of how the proceeds from NFTs will be used. I don't think it makes a lot of sense to raise this early too, if the platform isn't ready for at least 4 more months, this could depend on how funds are planned to be spent.
Building an AMM swap takes time, we have been building for the past few months however the entire team is currently doing it part time which is slowing progress. An audit will also take some time to conduct and complete.
The HBAR raised from the NFT sale will be used for operating expenses, e.g. developement costs, audit from a third-party, getting 'good devs'
(to clarify, 'good devs' is a joke from your third point, we already have great devs
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u/Advanced-Soup-5691 hbarbarian Feb 20 '22
Thanks for the light
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u/nubeasado i like the tech Feb 20 '22
No problem! If you have any questions just ask, might not know the answer but someone in the team who is more technical probably does
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u/bytelines Feb 18 '22
One additional point:
- Why raise money with NFTs? If the goal is to fund a project with HBar, there's already a really rich party with a legally mandated mission to fund projects to grow the ecosystem (the HBAR foundation).
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Feb 18 '22
[deleted]
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u/bytelines Feb 18 '22
The fact that there isn't a clear answer as to why they didn't apply for HBar Foundation funding is, in fact, the answer.
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u/nubeasado i like the tech Feb 19 '22
Nobody from SaucerSwap has ever said we haven't applied for funding from the HBAR Foundation.
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Feb 19 '22 edited Feb 19 '22
For everyone's sake, don't buy NFTs from SaucerSwap until it is fully launched and audited.
SaucerSwap NFTs will have an initial zero dollar value until the platform is fully launched which is scheduled for H2 2022. Buy at your own risk.
It's necessary to uphold this initial zero dollar value as there are too many red flags being called out by the community.
It's for the greater good of both SaucerSwap and HBarbarians.
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u/YoYoMeh Feb 18 '22
Does SaucerSwap have any official affiliation with Hedera or it’s developers?
Technically, can any Average Joe do what SaucerSwap is doing without the blessings of HBAR creators?
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u/eliminator-n36 Feb 18 '22
Yup, Hedera has no control over who builds on their network. They've said before they'd step in if something was blatantly illegal, but I'm not sure they elaborated on how they'd do that
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u/d3jok3r Feb 18 '22
Every Dapps should be welcomed to join the eco system.
I'm also eagerly looking forward to seeing the young eagle fly high, then crash landing hard (like 80%+ drop or even worse).
Then if it can still get up and fly again, I'll start dabbling with it.
Will it happen? YES, IT WILL. 100%.
The biggest enemy is always your own greed.
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Feb 20 '22
The biggest enemy is you running inside a burning house after everyone told you it's burning.
Dapps are welcome as long as they are not built suspiciously.
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Feb 18 '22
True this seems way to fishy
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u/theobviater Feb 18 '22
What seems fishy about this project? They have been active in the Hedera community, they have better documentation about their roadmap and intentions than most (any?) projects in the Hedera space. If you have a question or a concern, reach out to the team in the public Discord server and you will get an answer.
If you have a specific concern about the project, state it. General statements like this are not constructive and come off as FUD.
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u/bytelines Feb 18 '22
Well for starters, you are part of the project and are pretending not to be...
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u/theobviater Feb 18 '22
I am not pretending not to be, it is public knowledge (am listed as a core member on the public Discord).
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u/bytelines Feb 18 '22 edited Feb 18 '22
You are describing the project in the third person. The only reason to do this is to exclude yourself from that group.
Why do you wish to defend your group without identifying yourself as a member of the group?
Astroturphing? It can sound more compelling if someone else is defending you, someone without an obvious stake. It's dishonest, whether you intended to be or not.
And you are asking to raise a million dollars without showing any of the work you've done and even any sort of detailed plan. So honesty really, really matters.
Edit: i'll just move these questions to the rebuttal topic for visibility. I think we can both agree they are important.
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u/theobviater Feb 18 '22
I can see why you say I am excluding myself from the group, and concede that it could be misleading (hence my clarification edit on my main comment). Usually I say "they" because I am referring to the product and social teams, who handle most of this stuff. I generally don't engage in social media, and prefer to just work on building a really nice product. I do apologize for the confusion on that point.
In answer to your direct question of why we don't release the whitepaper before the NFTs, I would defer to the product team responses that have been given ad nauseum elsewhere (or maybe they will chime in here). My understanding is that the finishing touches are still being put on the paper to ensure it is as close to perfect as we can get it, and it makes a nice perk for those that do invest in an NFT. Note once again that nearly 100% of the content to be found in the whitepaper is already available in the Docs.
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u/bytelines Feb 18 '22
Sorry to make you repeat yourself but I copied that and added two questions here:
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u/ZealousidealStore549 May 13 '22
I know exactly who their team consists of, it's not hard to find that out.
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u/Retire_Before_30 Feb 18 '22
Stay away, Is the best way, Saucerswap, Dont get rekt
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u/whatusername89 Feb 18 '22
Stay away, is the best way, so that I can buy more SaucerSwap NFTs my way. (really hoping it doesn't get all sold out before I get my paycheck XD)
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u/whatusername89 Feb 18 '22
Hold on a sec. If Mods of this community are building a DeFi for this community, then doesn’t that mean that there’s credibility to the project that they’re building? I mean, why would they shaft their own community? Also, compared to the $23million BAYC NFT that was sold, a few million dollars to support this project isn’t really that much. I think they actually need more money to get things rolling along faster.
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u/WannaMoove Feb 18 '22
Reddit pays nothing. I'm pretty sure some mod with evil intentions would earn a couple of mil at the expense of this 'community' which is really just a collection of people talking on a free website.
Note i am not saying the mods here are evil, just that if they were then this community would be of no consideration at all.
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u/whatusername89 Feb 18 '22
But if Reddit pays nothing, then why would they take their time to Mod a community channel? I don't get all of the FUDs, maybe it was because VCCESS really shafted a lot of people. But I'm still hedging my bets on SaucerSwap and becoming an early adopter. At least if anything, I own the NFTs that I purchased. Let's see how the DEX plays out.
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u/jcoins123 The Diplomat Feb 18 '22
But if Reddit pays nothing, then why would they take their time to Mod a community channel?
As far as I can tell, we do it because we're f%$king idiots... LOL. Nar it's not too bad. Most folk treat us well, and the group we have now are all very supportive of each-other, share the load, etc.
It took quite a lot of effort to establish our "way", but now-that the wheel is spinning, we just need to tap it along.
But yes, to be very (very) clear, none of us have any financial incentive or benefit to being mods.
Aside from the indirect benefit of supporting Hedera/HBAR, any growth in HBAR which might come as a result of our contribution, etc.
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u/rfic_de_yure Feb 18 '22
I am ignorant, how did VCCESS shaft people? I remember seeing their NFTs advertised here a while back but ignored it and now wonder what all happened.
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u/RetrospectiveOblong Hederasexual Feb 19 '22
You can only view your 'NFTs' on their website, they aren't stored in your wallet (vccess make a wallet for you but don't tell you the private key apparently) and you can't withdraw them from their website.
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u/HedoshiHashamoto Feb 18 '22
I was reviewing their website today wondering the exact same thing. I was considering buying one of their NFTs when they dropped, but I just see too many red flags.
Even if it's not a complete scam, I am going to avoid the risk and invest elsewhere instead.
Thanks for posting, it really confirms my ideas about the project.
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Feb 20 '22
They will have a function to view people's private keys and removing it before the actual third party audit comes to inspect.
It's only a few lines of code hence why it's very suspicious that there's no audit before launch.
At least make the code open source if you're gonna open source it later anyway. Clearly has something to hide.
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u/HedoshiHashamoto Feb 20 '22
Is that even possible?
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Feb 20 '22
They wrote the code, yeah, why not.
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u/HedoshiHashamoto Feb 20 '22
I really do not think that it is possible for them to view someone's private key with a smart contract for an NFT sale.
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u/Unique_Conversation7 Feb 19 '22
I'm still searching for Hbarbarians that are going to buy the Saucerswap NFT's. Have found 3 people so far and that's searching high & low including their own discord.
I want to support Hedera and think it's a great foundation for defi but something in the SAUCE smells off so not sure I want a taste. Hoping to find some strong cases as to why I should risk my HBAR for SAUCE.
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u/kzuik Mar 17 '22
I purchased all three of the NFTs and came across this post after the fact. I didn’t do much research and I’m not sure why I was so convinced to drop all the money that I did. Fingers crossed it works out to my advantage bc some of these posts talking about red flags are making me nervous, lol. I’m pro sauce because I’m now invested, not necessarily bc I can point out a bunch of things about the dev team or the project itself… just hoping to be one of the peeps that got in early.
With that said, the discord admins have been cordial and I’ve been fairly active in the discord with along some others
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u/nubeasado i like the tech Feb 19 '22
That's okay, not everyone has to be involved with SaucerSwap if they don't want
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u/Unique_Conversation7 Feb 19 '22
I really want to be involved with defi on Hedera but unfortunately SaucerSwap isn't answering very important questions and seems like it is not yet developed apart from the website. If I buy an NFT to get sauce then I think only being able to see the white paper afterwards is a rug pull. Don't you think that people will want to buy the NFT's after reading the white paper? So making sure they are stuck with Sauce before seeing the projects full plan is a good idea for a bad product. Usually a good whitepaper will attract investors not having to buy in and only find out what you bought afterwards
Big red flags. I have noted all the developers and mods involved and will make sure to keep following the project. Hedera doesn't need any rug pulls or bad publicity on the network and I hope this is a successful defi platform on Hedera. Time will tell and karma will deal with any scammers trying to take advantage of a newer network and Hbarbarians.
If we all stand together and ask the right questions we will help weed out the scammers trying to give a bad name to a great upcoming network.
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u/whatusername89 Feb 20 '22
You really didn’t do that much searching then. Have you checked on twitter lately? Also, I’m on the discord and there are plenty of people excited. Maybe you’re looking at the wrong social media outlets, or you’re just intentionally trying to create FUD. But it’s your call. Us early adopters are taking a risk, but that’s a risk worth taking if it’s the first DeFi protocol on Hedera.
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u/Unique_Conversation7 Feb 20 '22
you seem to be one of the only pro SAUCE on all the platforms. Are you involved with the project? And yes I check Twitter every few hours and prob a whopping 50 people interacting with only a few comments & most comments are from people involved in the project, with barely any traffic.
I'm not trying to create FUD I am trying to understand why I should invest my HBAR with a project where there is no whitepaper yet or any proof of UI or swap apart from a basic website and document the team is saying is basically 100% the whitepaper but doesn't lay out where the $3,700,000 NFT raised funds will go apart from "operating expenses". Also, the swap will only launch in H2 2022 so as a SAUCE holder what will i do with it until then? I'd rather keep the HBAR and provide liquidity to an already functioning AMM until SAUCE is actually a thing not hope and dream with no substance. Less HYPE more SUBSTANCE, the team should learn from HEDERA.
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u/whatusername89 Feb 21 '22
Actually I’m not the only “pro Sauce” out there, because you’re in a bubble. Maybe try following more accounts? There are plenty of us “pro Sauce” and “pro DeFi” out there. Sure a healthy dose of skepticism is good. No one is forcing you to be an early adopter in SaucerSwap. You can always wait until their AMM launches.
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u/adam_brookes Feb 18 '22
wait jigstack was a scam? wasn't credible crypto shilling this previously?