Twitter: Ancora Team
We meeting again people, as I said big day in the space. One thing you must have heard while being in this space is that fud=bullish. Well, according to this saying Ancora should go outside the milky way galaxy.
Allow me to explain the concept of the project to you in simpler terms:
Ancora is basically a payment system built on Solana Blockchain. In a nutshell there are building an OS that will target both the merchants by allowing them to list their projects and to accept USDC or Solana as payment method easily and the consumers by providing a marketplace where you will be able to buy stuff using your USDC or solana.
Some basic information about the mint:
Supply: 8000
Cost: 1.75 Sol
Time: WL1- 5 pm UTC/ WL2- 5:30 pm UTC/ WL3- 6 pm UTC
So let’s brief down some points about them:
- Concept: I really liked the concept they are working on and I do think this has a great market size as well. Imagine if you get an option to actually buy stuff that you want to use irl with the help of your USDC or Solana without having the need to actually convert it into fiat. They have a working product as well and I have used the website myself, it is easier to use and you can create a product in less than 5 minutes and it is working fluently. But, the main problem that I see in this is onboarding merchants who are ready to sell their products via the Ancora platform. Apart from that, they will have strong competition like Solana Pay and Yami Pay, how are they better than these platforms well, they have not explained that in detail.
- Tokenomics: They will have a $1 Billion supply of their governance token $ANCO. 65% of the supply will be distributed among the holders in short and long terms rewards. 10% of the supply will be provided as an IDO at an initial price of $0.5. The main question arises how will the token won’t get dumped after the IDO. They have claimed that they are not going to give these tokens away for promotion or even for VC funds which means the distribution of tokens would be fair which will prevent them from getting dumped. I myself have not found any reason why I would hold their tokens as soon as I get them as staking rewards so I am not convinced in this part as well.
- Team: They have a well-qualified doxed team. The fact that they have made a working product ready already speaks for the hard work of the team. However, one thing that I found missing is that they have identified the problem in the space and they are aiming to build a solution for that problem but they are lacking in explaining the same problem to an average consumer. The project is way too technical for an average Solana NFT minter. They have made their platform easy to use but why would I even go there in the first place when I don’t know how the project will improve the experience.
- Hype: They are certainly one of the most hyped mints of this month and this is evident by the fact that they are getting an average of 500+ reactions on every post in their discord.
I am being very honest here, I really like the project and I love their working platform. I can see what they are working on and how it can scale in the long run if they can deliver what they have stated. But I don't like the fact that they have provided such little information about their project. They are one of the most technical projects out there in the space and none of the information that they have provided is enough to actually understands the project completely.
The supply of the project along with the cost is way too big for it to be a good quick flip in my eyes. There is nothing worth holding for at the very moment. There are no incentives for the holders to not dump their tokens as soon as they get a chance.
Keep in mind these are all my views based on the information I was able to gather about them. I may be wrong completely.
As always DYOR.
