What happened to the AddMeFast exchange and $AMF token?

[eduardoaz]

Hey everyone,

I’ve been a user of the AddMeFast platform for a while now, back from when it was just a traditional social media exchange site. When they launched the $AMF token on BSC a few years ago to replace their old point system, I bought into the Web3 vision hard and accumulated a substantial amount of the token.

Lately, I’ve been trying to figure out what is going on behind the scenes, because from a crypto perspective, the project looks completely abandoned. The token is currently sitting around $0.0007 with literally zero trading volume across tracking sites.

I’m posting here to see if any on-chain investigators or forum members know what went Was there a hack? They had big plans for integrating a full crypto exchange architecture and expanding their payment utility. Did a major security exploit or liquidity drain completely break the ecosystem?

Is the token officially dead? There is almost non-existent liquidity to even swap out positions on DEXs anymore. Has anyone successfully traded or utilized AMF on the platform recently, or are the contracts entirely frozen?

[MAAManda]

Based on what I've seen from the project's X & Reddit accounts, it seems like this project is completely dead, no one is interested in talking about this project. On Telegram, they promised to come back with AddMeFast 2.0, but I see that the promise was made a long time ago (months ago), this is a bad sign actually.

Then, for the economic side, liquidity is still available in WBNB/AMF & BTCBR/AMF. There's liquidity of around 23.85 & 1,179 for $WBNB & $BTCBR respectively.

[asriloni]

AMF token is already dead. It's not longer have demand. AMF was offering a service to growth your social media platform, but it's used mostly bot accounts to boost its costumers social account. So it gets a huge impact when so many social media were deciding to purge all of bot accounts used to boost the social media account.

In result. AMF who used so many bot accounts were seriously impacted. So no more party was strusting their service, and it makes them went bankrupt. It's also the reason each AMF token worth nothing. I'm sorry for your lost.

[JeromeTash]

OP I have dealt with these kinds of tokens from way back in 2017. All I can tell you is that they usually die just like that even when there is no hack or exploit. What usually happens is that the hype and demand die down, and so the token price also tanks.

The major purpose of the token wasn't actually there. The owners of the website probably wanted to make some quick money out of the token, so chances are high that they dumped the tokens on you, the users. I used Addmefast back then, and it did not require any token bullshit.

[Odohu]

This is another case of a project in which the founders and few insiders and smart people have made their profits and moved on. If they come back like they promised, it is to further continue in that direction, lure more people into the project, make huge promises and deliver nothing. This is one sad reality about projects that promises too much, they often end up disappointing people that believe on them. They might still have liquidity in some exchange but the value of the token is nothing to write home about.

[eduardoaz]

The reason I'm so puzzled by this is that AddMeFast was legitimately one of the largest Web2 social exchange platforms on the internet long before they ever touched crypto. They had a massive, active user base and a highly profitable, functional business model based on points and ad revenue.

When they introduced the $AMF token, the entire pitch was revolutionary for their ecosystem: allowing users to finally convert the likes and follows they generated into real-world monetary value, effectively turning Web2 actions into Web3 earnings.
What I don't understand from an economic standpoint is: how does a historically successful, cash-flowing business completely destroy its ecosystem by introducing a token?

[robelneo]

I was an active user when they launched in 2011; they were pioneers in growing your social media presence, but after Cryptocurrency became popular, they integrated their platform and created their own token.
I thought they would be great because of their integration, large community, and good platform. I thought nothing could go wrong on their platform until recently, when they put it in maintenance mode.
Many are still hoping their domain is still up.

Let's see if they renew their domain next month; if not, it's likely they'll rugpull.

Domain: addmefast.com
Registered On: 2008-07-30
Expires On: 2026-07-30

[Odogwu-Blockchain]

The reason I'm so puzzled by this is that AddMeFast was legitimately one of the largest Web2 social exchange platforms on the internet long before they ever touched crypto. They had a massive, active user base and a highly profitable, functional business model based on points and ad revenue.

When they introduced the $AMF token, the entire pitch was revolutionary for their ecosystem: allowing users to finally convert the likes and follows they generated into real-world monetary value, effectively turning Web2 actions into Web3 earnings.
What I don't understand from an economic standpoint is: how does a historically successful, cash-flowing business completely destroy its ecosystem by introducing a token?

I have seen many big enterprises that was doing extremely well in their business went down because they introduce cryptocurrency into their system but failed. Failure I mean is crypto usability failure not the business entirely. Crypto alone has a different and distinct features when integrating into an already existing business, because they work on demand and supply, new and existing customers might find it hard to understand the usage of crypto for business because they are already used to using Fiat within the business.

Addmefast wouldn't have gone on site shutdown because of the introduce of crypto, at least the initial business model using Fiat will still be in function but the crypto integration will be put on hold for some reasons best known to them.

[rat03gopoh]

It has been more than 3 years since I returned to that platform. The last time I used it, there were lots of system bugs there. The point is that I can collect more points without actually doing all the assignment instructions.
I don't know about their coins, if it can be obtained by exchanging points for example and their bugs are not patched, that means these coins can be obtained in an unfair way.

[BitMaxz]

This is obviously abandoned, and how would people be interested in social media boosts? So the token is obviously abandoned and honestly, there is no use case for this token. It might be just created for a pump and dump or created to sell their token creation but does not have a longer plan to develop this token.

AI is the most hyped and has active developers nowadays compared to a project related to social media boosts that only provides likes, followers, and increased watch and subscribe, which requires no development.