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SOC fell by 80% during the world cup, concealing team information but exposing Sequoia Capital

Time : 29/12/2021 Author : j8pm40 Click : + -
        Bianews note: in April this year, when Sequoia Capital and Bian went to court for the investment agreement, we still felt: one day in the currency circle, one year in the world, and Sequoia is still acting according to the old rules and falling behind in the new world of virtual currency. The quadrennial world cup kicked off on June 14. With the advent of the world cup, the concept currency related to virtual currency has also received great attention and expectation from the currency circle, such as SOC currency & mdash& mdash; Focusing on the layout of blockchain + sports industry, "filling" the gap of blockchain in the sports industry. While people pay great attention to and expect SOC coin, the price of SOC coin falls instead of rising under the good news of the opening of the world cup. This is indeed a shocking thing.
        The SOC listing time is January 26, 2018, and the price on February 4 is US $0.1304; Then, it all the way back to the low point on March 9, with the price of US $0.0377; Since then, it has maintained a sideways trend until April 26, when the market began to start, and the price was US $0.0399; The market reached the highest point on May 7, with the price of US $0.29;. The other represents the concept currency. The price of wicc coin on April 1 was US $0.46. Subsequently, it rose all the way to the peak of $2.72 on May 6, with an increase of 490% on May 37. Subsequently, wicc's price fluctuated greatly and entered the downward channel.
        It rebounded slightly by about 10% from May 17 to June 1, and then continued to decline. Until June 28, the price fell to US $0.5905, which was 78% lower than the highest price of US $2.72 on May 6, and there was no obvious rebound during the period. Let's take a look at the comments made by friends on Weibo! The most talked about are cutting leeks, new low and the relationship between SOC and understanding the ball emperor. On the whole, the price on June 20 was% higher than that of SOC coin; After entering the peak season of sports events in May, SOC went out of a wave of rising trend. This wave of rising trend lasted for about 10 days, and then went down all the way. Until the opening of the world cup, there was no obvious sign of stopping the decline, which made people feel that the shipment was pulled up.
        It can be seen from the data above that the prices of the top ten currencies in the bidding market fell from June 1 to 14, with a drop of 22% to 55%. During the period from the opening of the world cup on June 14 to June 20, only four project currencies increased slightly, namely, August (REP), funfair (fun), Gnosis (gno) and cindicator (CND). This trend is in contrast to the public's expectations of World Cup concept coins such as SOC coins. This rise or fall may be related to the project itself, that is, the fundamentals of the project itself can hardly support the price rise.
        Based on the initial judgment, bianews combed the fundamentals of the SOC project, found that the project was lack of necessary information disclosure, the function was inconsistent with the publicity, and further verified the judgment that "the fundamentals of the SOC project do not support the rise". The function of betting & mdash& mdash; It is the most important function that SOC can now provide (as shown in Fig. 7). The usage method is that the user transfers the SOC to the wallet address of the project. Different guessing projects will have different wallet addresses. After the result comes out, the wallet will return it to the user's wallet according to the betting information. This guessing method still relies on the traditional centralized method, and you can bet with any kind of digital currency, and there is no need to use SOC coins.
        In addition, SOC said that the bet was based on smart contract execution. However, some people in the industry found that the user only transferred the coins to a new wallet address, without involving the smart contract. The function of this practical application does not conform to the team's long-standing propaganda & mdash& mdash; A bidding platform based on blockchain business and using smart contracts. According to media reports, the number of SOC code updates is very low, only 3 times. Obviously, such frequent updates can not support a decent product progress at all. SOC is said to be a public chain project of the sports industry, but there are so few code updates that the progress is impossible.
        The official weekly development report will be released every week, but there is little valuable information. The information of the R & D part is rough, and no specific development progress is disclosed. Most of the weekly reports are from market development. The most active SOC is still the Chinese group, but from the discussion content, there are more users in the currency circle, who are concerned about the rise and fall of the currency price. I don't care about the guessing application, and I seldom talk about the world cup. SOC tokens are also mainly launched on exchanges with domestic backgrounds, and most of the users holding SOC tokens are also domestic users. For this international project, the structure of the currency holding community, which is mainly domestic, has to give rise to a lot of worries. In general, SOC projects can be classified into the following points: 1. The application of actual functions is inconsistent with the publicity; 2. The basic information of team members is not clear; 3. The code update frequency cannot meet the project schedule, and there is a risk of non-compliance; 4. There are not many users holding coins in the community, and there are even fewer actual guessing users.
        The SOC project does not mention its project team members in its official website and white paper. Such a situation is very rare even in the blockchain field. What's more strange is that the project without team members can be listed on two exchanges, Huobi and okex, which claim to be strictly audited?!. Since allfootball, which boasts 60 million users, will conduct such deep cooperation with the fledgling SOC, it can at least be considered that there is a great interest relationship between the two. It can even be boldly guessed that the team behind the SOC is the team behind allfootball. Let's look at the white paper first. There are screenshots of the white paper in the report on the day of coin listing.
        The screenshot shows that the investors of SOC include node capital, dfund, Chuangshi capital, Xianfeng Changqing, Sequoia Capital and allfootball& mdash;& mdash; The investors who know about Qiudi include Sequoia Capital & mdash& mdash; Sequoia Capital is also the investor of SOC & mdash& mdash; Know that the overseas version of Qiudi is allfootball & mdash& mdash; Allfootball is the investor of SOC. Li Lin, the founder of Huobi, said that "Huobi, a project invested by Sequoia, will speed up the review process of listing".
        Then, it is easy to understand that the SOC that hides the team information can be successfully launched into Huobi.
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