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Debtfree token

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Debt Free Token ($DEBTFREE) is a Military Owned Token and it consist a team of Active Duty, Veterans, and Retired service members. The main purpose of this token is for all of us to have a passive income with the 10% tax token given rewards for every transaction whether it's a buy or sell. The Goal is for each and single one of us to succeed, and never looking back. Poor to Debt Free and Riches. Together, We Moon

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Authenticity & future plans

Debtfree token consists a team of active duty, veterans and retired military personnel hoping to make a change in the cryptocurrency world. This token was launched around June 2021.

Debtfree token let’s you farm Debtfree tokens in exchange for staking gold in golfarm.io.

They have a store on their website with Debtfree token merchandise

The DEBT FREE TOKEN smart contract applies a fee on all transactions (buys/sells). 10% is redistributed to existing holders and 5% of each transaction and adds it to the liquidity pool.

 WhitePaper :
There is nothing more than details of reflections and tokenomics on their whitepaper. https://debtfreetoken.io/pages/whitepaper

Markets/Exchanges :
At time of writing, they are listed on FEG exchange. They are not listed on coin market cap or Coin Gecko

Transparency & Contract

Debtfree token mentioned that 50% of the total supply will be burned thus reducing the supply. 51.25% of the total supply has been burnt as confirmed in their whitepaper. Verified on BSCscan (over 50 Quadrillion has been burnt)

The partnership on the website lists Trust wallet, FegEx, Pancake swap, Gold farm, Poocoin etc. but we could not identify any other established partnerships that contributes to a use case for this token.

The Devs however burns tokens on regular intervals thus reducing the supply.

Contract:
Ownership is not renounced as per BSC scan.

Roadmap
The Debtfree token roadmap is simple and achievable. They have not yet been listed on coin market cap or coin gecko yet. The roadmap claims that they have applied for it. Debtfree NFTs and a NFT marketplace is also in the pipeline as per the roadmap.
- https://debtfreetoken.io/pages/roadmap

Audit 
We could not locate an audit performed for this token nor does the website contain information of a future audit.

Liquidity, Tax & Reflections

Contract :
0x44f2a124de7dbe2b1b15dbb0c1d79958eb999abd

Current Market Cap  :
$5,652,638 

Liquidity, Tax & Reflections :
All holders gain passive income of 10% from just holding Debtfree token in their wallets, the amount of passive income depends on the amount invested as well as the amount transactions and volume.  

Tokenomics: 
Total supply: 100,000,000,000,000,000. (100 Quadrillion).
Circulating Supply: 100% 
Buy tax 10% 
Sell/Move/Transfer Tax 10% 
Redistribution 10%

Community

Community by the Numbers :
Debtfree token Holders/Addresses: 4152

Instagram – 168 members
Twitter – 8501 followers
YouTube – 549 subscribers
Telegram – 8800 members

The followers on twitter seem organic however the interactions are lesser. They do seem to have few strong committed members on their page and have good marketing and giveaways by influencers.

A twitter user named Dale Thomo who is a retired Australian veteran claims to be the Chief Operating officer of Debtfree token however this information is not available on the Debtfree token website.

Conclusion

Debtfree token has some work to do on their website from our initial review. First off, an audit is required for an increase in trust and for listings on coin market cap, Coin Gecko or any exchanges. Whitepaper has very little information on the token and the roadmap lists out NFTs and NFT marketplace but yet to see its development on their social media handles. We also recommend the Devs to be doxed after the aforementioned issues are corrected to add a strong foundation to the token. These are some concerns that may slow down the growth of this token.

First Published:
Friday, 8 October, 2021
Last updated:
Sunday, 10 October, 2021
Debtfree token

41

Scoring legend:
Below 50: Needs improvement
50-75: Getting attention
Above 75: Massive potential

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