Update: 9/4/21- DeRace just rug pulled for the second time around taking away $16 million from investors.
You come to this site because you want to know if DeRace NFT Horse Racing Game is legit or not. You come to this page to know whether the DeRace DERC token will take you to the moon or to the grave.
(Note: Please visit this link for the screenshots of their telegram group. There is so much evidence that DeRace is a scam)
I’m happy that you are here.
I’ve known DeRace from a post in the subreddit CryptoMoonShots. Something like this.
The truth is. Around 99% of the projects promoted on that subreddit are scams. Do you think DeRace is the exception?
Let’s find out.
In this article, I will tell you all the information I’ve gathered about DeRace. I hope this post will help you in deciding whether or not you invest in this project.
Spend few minutes of your time reading my DeRace NFT Horse Racing Game review.
Table of Contents
What is DeRace?
According to its website “derace.io”, DeRace is a virtual horse racing game where you can join horse races, breed NFT horses with unique characteristics, build your own NFT hippodrome and make a profit while doing it.
It claims to be provable and transparent, community gain focused, and having NFTs with a purpose. It boasts to create a new standard for gaming and staking.
All races and bets will be proven by a blockchain leaving no room for the shadow of a doubt.
DeRace must be so cool right?
Read the succeeding paragraphs because I will tell you how bullshit DeRace is.
DeRace Management Team
According to its website, Adomas Juodišius lead the DeRace management team. Based on their Linkedin profiles, these people are located in Lithuania.
If you look closely at their accounts, you will find most of them have no previous experience in game development. This is a big red flag for me.
Are newbies making a huge blockchain NFT game? What do you think the outcome will be?
I don’t know if it will boost their credibility. But the only thing that adds to their credential is their digital marketing agency called Media Bubbles (not related to gaming).
Moreover, if you look at their Twitter profiles, most are just made last month. Suspicious right?
In addition, the proclaimed CEO himself made his account private. No real pictures. Everyone wants to stay anonymous.
I suspect those team members are fake. They may be hired as a front of the real owner of DeRace.
DeRace DERC Tokens Red Flags… More Red Flags
DeRace token was scheduled to be listed in 3 exchanges namely: Gate.io, Uniswap, and PancakeSwap on August 3, 2021, at 12:00 UTC. Let’s focus our discussion on PancakeSwap.Telegram users asked how much the initial listing price will be.
And their reply?
DeRace’s DERC token will be listed at $0.05. The same price during the IDO.
And what happened next?
The initial listing price was $0.15. That’s 3 times the price of the promised initial price. They added $75k and 500k tokens to the pool.
Admins of the group have been saying all day long that the listing price will be $0.05. With pre-sale and listing price at $0.05, many were hyped to buy the token as soon as it is listed on PancakeSwap.
No explanation was heard from the admins of the group. Instead, they banned all the users who asked about it.
Here is the link to the transaction adding liquidity to DERC/BUSD pair in PancakeSwap. Part of the liquidity pool was locked as of this time.
After adding the liquidity, bots were coming in. The first bot order took 148,664 DERC tokens at a price of $0.23 per token. Followed by more bots, the price skyrocketed at almost $5.5. After the pump, dumping followed until the price settled at a range between $0.6-$0.7.
Many investors lost so much money during the dump.
I wonder why the developers did not make anti-bot measures. I suspect these bots were employed by themselves to make money as fast they can.
DeRace Developer’s Wallet Dumping DERC Tokens
As the price continues to rise, DeRace developer’s wallet did its magic too. The wallet swapped 600,000 tokens from the Ethereum chain and dump them at different time intervals.
Easy money right? No wonder why the price didn’t go up because the devs are dumping their DERC tokens from time to time.
High-tech scammers are doing a great job. The DeRace developer’s wallet became the top 1 wallet too. When asked about it, the reply goes like this.
Stop fooling us scammer! You are screwed!
DeRace Liquidity Pool in PancakeSwap Unlocked
When trading started in PancakeSwap, liquidity pools aren’t locked yet. Asked as to why they did that, DeRace telegram admin replied:
Laughing out loud. That’s just one way of saying that they can’t rug pull when the liquidity pool is locked. Their bags aren’t full yet so the pool should be freely available anytime they want.
DeRace telegram promised the pool will be locked within 24 hours from trading (or until they can fill their pockets..just kidding lol).
Since the price isn’t moving, they decided to lock 47.4366% of the liquidity pool for a very long 30 days. Perhaps they expect new investors will come in.
Yes, you heard it right. Only 47.4366% was locked for a very long period of 30 days (lol). The other 47.50% (in two separate addresses) are still owned by them and remain unlocked. Just click on those two wallets and you’ll see how they transfer from one wallet to another.
Rug pulling 47.50% of the liquidity pool isn’t bad though, is it?
People Asking Legitimate Questions are Banned
There were so many legitimate questions left unanswered in the group. However, the scammers of DeRace could no longer deny the fact that they screwed the DERC token listing in PancakeSwap.
Questions as to why the price is $0.15 instead of $.0.05, bots, developers wallet selling, unlocked liquidity, increase supply of token in BSC, etc., were left unanswered.
Guess what their solution to all those questions is? Outright ban.
DeRace Rug Pulled for the Second Time Around September 3rd, 2021
On September 3rd, 2021, the DeRace developer rug pulled for the second time around. For more info about this section please read how DeRace rug pulled and scammed its investors twice in 2021.
Below is the summary of how the developer of this project rug pulled on September 3rd, 2021, and pretend it’s a hack.
The 7,560,000 tokens minted on wallet address 0x45166749c271f0688f624f6c1e897ad14b8bf6d7 were moved to wallet 0xdd571023d95ff6ce5716bf112ccb752e86212167 and 0x2fd602ed1f8cb6deaba9bedd560ffe772eb85940 on August 3rd, 2021.
These tokens were sent to 0x2708cace7b42302af26f1ab896111d87faeff92f on September 3, 2021 and were dumped on the same date. As a result, the price dropped below $1.
They call it a hack but it’s certainly not. They have minted those tokens on August 3rd, 2021, and just waiting for the right time to dump them.
Click this article on how DeRace rug pulled twice. Just click on the links to follow the trail.
Is DeRace Legit or Scam?
DeRace Virtual NFT Horse Racing game is a scam. It is run by scammers. Its DeRace DERC token is a shitcoin sold by scammers to make money from innocent investors. At the start of trading, the developer dumped its token when the price is high.
Don’t be the next victim of this rug pull!
They fool the people in the telegram group that the initial listing will be at $0.05 but it was not. They did not lock the liquidity pool in PancakeSwap until they can fill their bags.
The people behind this game have no background in game development. Their social profiles are suspicious. Most of their Twitter accounts were created in July 2021.
They did not take preventive measures against bot trading in PancakeSwap so expect they are running the bots themselves. They banned the people in Telegram who asked legitimate questions just to cover the fraud they have committed.
Will the DeRace Virtual Horse Racing come out? I doubt. There is no evidence that they are developing the game. They are so busy counting their money right now.
DeRace Review Conclusion
Stay away from DeRace. It is a scam and a rug pull. DERC token is a shitcoin. People behind it are just waiting for new investors to come in so they can start filling their bags again.
There are so many red flags about this project. Developer selling, unlock liquidity and so many lies. If you are a holder of the DERC token, better dispose it now.
The devs are just waiting for the next opportunity to dump and rug pull. So, stay alert!
Please visit this link for the screengrabs of their telegram group. Read how DeRace rug pull for the second time around.
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