tl;dr
Football legend Ronaldinho Gaúcho’s new official token, Ronaldinho Coin (STAR10), launched on the BNB chain with promises of exclusive benefits, but faced a volatile debut, dropping over 25% in value. Concerns arose over the token's distribution, with 20% allocated to Ronaldinho, higher than typical...
Ronaldinho Coin (STAR10) debuted with high volatility on the BNB chain, facing concerns over security risks and early snipers. The token's distribution allocated 20% to Ronaldinho, higher than the typical crypto project allocation. Security risks, including the ability to burn holder's tokens, were raised by blockchain analytics firms and a security platform, leading to warnings from Binance founder Changpeng Zhao. Ronaldinho responded, assuring token holders of improved security measures.
This launch adds to Ronaldinho's history with crypto ventures, including previous token projects that failed to gain traction and his denial of involvement in a crypto pyramid scheme in 2023. The token saw significant volatility, dropping over 25% in value shortly after its debut, prompting concerns. Its rocky launch trajectory mirrors that of other high-profile tokens. The distribution of 20% to Ronaldinho diverges from the typical 5-10% allocation for founders in most crypto projects. Security risks and concerns around "early snipers" marred the token's launch, prompting warnings from industry leaders and responses from Ronaldinho.
Brazilian football legend Ronaldinho has been linked to several crypto ventures, including the unsuccessful RON token in 2022, the promotion of the World Cup Inu token, and his denial of involvement in a crypto pyramid scheme in 2023.