I hope newbies learn something from this

[KiaKia]

Someone have to exposed this to safe many newbies from falling into the same trap.

There is a new way that project teams are now getting themselves rich.

There's no surprise that newbies and old crypto experts always look into new upcoming projects in every bear market in order to make some 3x gains or more.

A new exchange called Camelot has hosted a few new projects during this bear market, and they have all done very well, from 3x to 10x, this have made the exchange a better target for presale investors.

Not too long ago, a new presale appeared on the Camelot exchange. It's called Arbitrove and runs on Arbitrum.

The target for this token was 2million, many people showed interest and get in, while many aren't able due to requirements,  later on, at the very die minute that the presale is about to end, the team decided to remove the hard cap of the presale, given access to all available buyers.

The FOMO got so high that the team raised a whopping amount of 14million dollars,  instead of the 2million dollars they needed.

As a result, the token price has continued to rise to the point where the market cap reached 70 million dollars, but after everyone has bought all they can, the price has started to drop since then.

There are no new buyers coming in, and many lose money. In this case, the team came out on top.

If you are still planning to join some new presales this year, make sure you are on guide and watch out for the following warnings below.

-Avoid any project presales doing uncapped token sales.

-Camelot shouldn't have allow the team to remove the limited hardcap.

-Stick with popular presale leaders in the market, e.g seedify

I believe the project team are scammers and they only use Camelot reputation to attract investors, meanwhile, they have their harmful plan in mind,  this also show that Camelot is a weak presale platform, for allowing the unallocated plan. Stay wise and stay safe.  

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[juhobtc]

-Avoid any project presales doing uncapped token sales.

-Camelot shouldn't have allow the team to remove the limited hardcap.

-Stick with popular presale leaders in the market, e.g seedify

I believe the project team are scammers and they only use Camelot reputation to attract investors, meanwhile, they have their harmful plan in mind,  this also show that Camelot is a weak presale platform, for allowing the unallocated plan. Stay wise and stay safe.  

It seems to me that for a beginner it will be very difficult, how do you know that the team has removed the limit on hard caps and the like? It turns out that at first it was, but then it was removed? It is also not clear about uncapped token sales, was it like this from the very beginning or was it changed during the presale?

[bitmover]

-Avoid any project presales doing uncapped token sales.

I don't see this as a rule.

For example, ethereum doesn't have a maximum supply and it is still one of the best altcoins projects around.

[moneystery]

In my opinion, it's not about uncapped or limited hardcap regulations, but how the team develops the project, has a clear roadmap, transparent fund management, and a clear audit. I think that's what investors need to pay attention to. And what's more, right now it's quite difficult to know whether a project is good enough or not because even an FTX-class project can collapse, let alone new projects. Therefore invest according to the risk you can bear.

[m2017]

Greed prompted the team to remove the hardcap. People always want more money. It happens.

It is not surprising that the price of the coin began to fall, because the project was overheated due to the hype. Any sharp surge in purchases ends with the same sharp drop.

Perhaps there is some agreement or conditions on Camelot that prohibits changing the hard cap?

About wisdom.
All such stories with a sharp surge of interest in a particular project have a similar ending. Naive investors wanted easy money, and as a result, they have difficulty getting their money back, because the purchased coins are cheaper than the purchase price. No need to get into such hypes when it's too late.

[Luffygroove]

Before investing in any project, investors should conduct their own research, especially for new and upcoming projects. Arbitrove's uncapped token sale on Camelot Exchange serves as a reminder of the risks involved in investing in new projects without thoroughly understanding the presale terms and conditions. While uncapped token sales can cause FOMO and oversubscription, it is also important to note that not all uncapped sales are fraudulent. However, before investing, investors should exercise caution and thoroughly review the project's whitepaper, team background, and previous performance.

Furthermore, it is always advisable to stick with reputable and established presale platforms and market leaders. This can be beneficial.

[Awaklara]

this seems to remind us of the hype that Solana created with several new projects that exploded. we certainly know who will benefit from conditions like this. and those beginners who are greedy want to follow, instead stuck with losses that take away their money.
they will reach the top and then will fall very sick. although they sometimes benefit from such presale projects. but stay wise in determining a new project for investment. more of them are unable to survive in the market.

[ancafe]

I believe the project team are scammers and they only use Camelot reputation to attract investors, meanwhile, they have their harmful plan in mind,  this also show that Camelot is a weak presale platform, for allowing the unallocated plan. Stay wise and stay safe.  

I agree more with projects that have reached a stable level, not new projects or are still in the presale stage that still rely on hype. Any newbie who doesn't understand the basics of the project in the presale process will be very young to be conned, with so much hype deliberately developed by them, that at some stage many people will be stuck in a that is deliberately made.

Even if some people benefit from the project, but it is not recommended to get involved for anyone, research or analysis is required and if their knowledge is still not at this stage, it is better to avoid losses for such a project. Many cases we see how new projects are developed and in the end they leave after achieving huge profits.

[asawale]

-Avoid any project presales doing uncapped token sales.

I don't see this as a rule.

For example, ethereum doesn't have a maximum supply and it is still one of the best altcoins projects around.

Ethereum has unlimited supply but with recent PoS Ethereum operates on, I believe there will be burning which comes up from time to time to be of protection to the investors or user. I'm able to employ right terms to be used as newbie in above context.

I also found out there are more projects with unlimited supply. Take pancakeswap native token for instance, $CAKE has unlimited supply but the team has stated in their whitepaper that their will always be buybacks of the $CAKE from the swap charges and profits which helps holding the price to a certain extent.

Inasmuch a project in the IDO or presale is having a hard cap target and later removes the cap to raise beyond the cap is a red cap and no platform should allow that to protect their own image. Like the OP said, I prefer Seedify as they work professionally and have their own guidelines which can not be broken for any investors or fundraisers.

[Upgrade00]

For example, ethereum doesn't have a maximum supply and it is still one of the best altcoins projects around.

Being one of the best altcoins isn't high praise at all as most of the altcoins are shit projects. Ethereum is centralized and has a unlimited supply making it prone to supply shocks and unreliable as a store of value.
It is useful as a a building block for many other projects which is what makes it very popular among devs and investors too.

[MinMan]

Well, no matter how hard you try, newbies will find a way to get scammed, and it is not even their fault but their only fault is that they become too greedy too early which is not good for health. Newbies find it difficult to do research, they only like following the crowd or listening to the so-called influencers on Twitter or YouTube and act accordingly.

Once they understand the fact that the final investment decision should be their own, and should be mainly based on their own research, analysis and understanding, they will be safe from such things I believe.

[topman21]

Thanks for sharing your experience here. Actually if such experience is shared here there are many newbies they will learn from here and will definitely keep this in mind before doing such things later. But enter very carefully wherever you enter now. Currently no project is completely successful due to the erratic market conditions so you should be very careful whether you invest or trade or participate in new projects. I think it is best not to participate in new projects at present.

[Smartvirus]

It is useful as a a building block for many other projects which is what makes it very popular among devs and investors too.

Apparently, this is no longer much of an attribute as to why the coin stands out with developers seeking other chains to build there projects on due to the high cost associated with building projects on the chain.

Someone have to exposed this to safe many newbies from falling into the same trap.

It's nice to have kept a keen eye on the project and the phases it took. Although, I wouldn't have to blame Camelot so much on the behaviour of the project being referred. It's got its interest and those of its investors to consider for sure but, it is as well a profit organisation and with the project haven't paid ther3 dues, its left for investors to sense danger on a project and stay clear. Altcoins are often pump and dump coins. Going after them poses some risk and this is it for a coin that has got no definite plan.

[AakZaki]

The project is only a pump and dump project, when their presale successfully sells more than the specified hardcap. This is a hype that will only benefit those who enter earlier with a definite advantage. Then when prices began to jump very high in the market they began to sell it and the others also sold. Prices continue to fall and no buyers want to buy it again so that it will only be abandoned when the price is very cheap. The successful project is also determined how developers can overcome the practice of pump and dump, but if the developer only wants a profit then they will not care about it, the project has ended and abandoned.

[StormHawk]

Not a quality project it seems, I could remember coinzilla projects doing the same thing years ago, once their presale is over the tokens deep dive to 98% loss, and even the early buyer had no choice but to dump as fast as they could. Next time, don't blindly join presales, do your research on the projects first, make sure the project has what it takes to survive, and also, pray for some luck.

[dansus021]

It happen to me a year ago I joined a couple VentureCapital and participated in some of presales, private funding even seed funding and just hope the token will explode but the truth is not all tokens will explode. Right now I'm still at loss because of mistakes.

You want to know why people still believe it because they has been given marketing shit by the project team that this token will reach x5 x10 or even x1000, and people still fall for that. I know a project that the pitch deck, whitepaper tokenomic even the hype are good but tokens still fails.

[fathafraink]

Arbitrum is really getting the hype right now, and the Arbitrove team sees this as an opportunity, no problem if they increase the amount of their softcap or hardcap in their initial token sale on Camelot as long as the community agrees with that. Anyway, apparently the sales on Camelot DEX have failed so far, everything is selling well, maybe we'll see more sales as the Arbitrum hype builds up.

[Z390]

Arbitrum is really getting the hype right now, and the Arbitrove team sees this as an opportunity, no problem if they increase the amount of their softcap or hardcap in their initial token sale on Camelot as long as the community agrees with that. Anyway, apparently the sales on Camelot DEX have failed so far, everything is selling well, maybe we'll see more sales as the Arbitrum hype builds up.

Arbitrove will bounce back up, the dump that everyone is talking about is not even much, the ATH of this project is 0.062$ and the lowest it ever went was 0.02$, right now this project is back at 0.04$ per token, I believe this token will recover, especially if Arbitrum do well on its listing day, if anyone still holds this token, wait for some price action and take your profit, on the long term hold I am not really sure about Arbitrove.

[Crypt0Gore]

I am not into launchpad projects, even if I have to give anyone advice on this, I will tell them to join Binance launchpad because they hardly fail, some times it is better to do nothing, wait til the sales is over, let the early investors make gains, they will eventually dump into the open market, that will be the right time for the public to accumulate, mind you, only choose projects that have build a lot before raising money, as you can see, projects like Arbitrum will always do so well, choose wisely and be careful with pump and dump projects.