Hey folks,
I've been using AddMeFast for quite some time, dating back to when it was just a regular social media exchange platform. A few years ago, they introduced the $AMF token on BSC to replace their old point system, and I really bought into their Web3 vision, accumulating a good chunk of that token.
Recently, I've been digging to see what's happening behind the scenes because honestly, it feels like the project is totally left in the dust. Right now, the token's value is around $0.0007 and there's basically no trading volume showing up on any tracking platforms.
I'm reaching out here to see if anyone who's into on-chain analysis or just other forum members might have some insights. Is there a hack we didn’t hear about? They had ambitious plans to roll out a full crypto exchange setup and enhance their payment options. Did a big security hole or liquidity issue totally wreck everything?
Is the token as good as dead? The liquidity is almost nonexistent, making it hard to even swap tokens on DEXs. Has anyone been able to trade or use AMF on the platform recently, or is everything just locked up?
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.
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.
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.
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.
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 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
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.
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.
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.
AFAIK, there used to be no monetary value offered by the platform before crypto was involved in the platform. When monetary value comes in, that's where the conflict of interest between users & platforms occurs, the platform no longer has users whose purpose is marketing, farmers then come to only get $AMF & then sell it. Just like P2E, do you still see P2E platforms that are economically healthy?
Their platform has been in maintenance for a long time, and that contributed to investors and the community losing trust. You are left as a bag holder; they pulled a rug. It's unthinkable for a platform with a large community and a popular social media exchange to do such a thing.
This is a lesson to always check the project that we invested in, not because they have existed for a long time, you think that nothing could go wrong, this is cryptocurrency, where a lot of unexpected things happen.
Those are dead projects as there is no activity on the contract I wonder why people still talk about this type of project despite the data available points to zero activity and low liquidity, dev team have lost market interest despite that addmefast is a utility token, what we must acknowledge is that whenever a project change name or ecosystem it becomes hard for new investors to find interest is such token.
I can't find another explanation but that the team wanted to grab some funds out of the crypto trend back to 2017 ICO boom. This is the first time I hear about what happened with addmefast because I used their service back then to get more likes in subscribers into my social media channels. I think they replaced the point system with the token system benefiting from a large user base they had at that time.
Op is like to seek for the last hope by posting here. Maybe he doesn't know that hundreds of projects already dead or collapsed in the same way leaving useless tokens in holders wallets. I am wondering how he remembered this project after so many years.
What happened to this token is what has happened to hundreds of thousands of crypto tokens. It probably got abandoned. Maintaining a crypto project is much harder than just running the traditional social exchange they were running. I checked their website and it says it's under maintenence and the maintenence note promised seamless integration with the AMF tokens when the new version goes live. But until they do the maintenence, there's no telling if it would be revive.
Usually if teams abandon a project, the community usually do a takeover.
Yes many old projects that are not surfacing anymore are likely been abandoned already, and so as their supporters. But if about social media boosts, why not when it gives us a boost in our social media accounts? As we know, many people are clout chasers. The demand for this, should grow on today's era where the competition in social media got tighter than ever. The token before, had its own own use case when the project was active, and that was it acted as the main currency for the AddMeFast platform. So I won't judge quickly and say that it is only created for pump and dump purposes.
If there is no such platform as a social media, then I also don't think that the AI's will be so popular like this now.
But as on what I said earlier, there should still be a demand for social media boosts, but it is just that many social media did already built the feature inside them. So that may be the reason too for the decline of these 3rd parties which offers the same service.
I don't think so. Have you tried to look for other sites that offer the same thing but no crypto tokens or coins?
It's not so popular to normal people and investors; it is only popular to those who do marketing or promote their own page or self.
I don't see any importance about this social media boost; it can actually wreck your social accounts because all of them are automated. You can't say on your page that all of your likes and followers are bots or AI.
I guess you already see the signs and know what's happening on the project. If it's almost looks like dead then it is.
There are many projects like this that have been looking promising for before but as time passes, there's a silent exit from the developers.
They already got what they want and more investors coming out, dumping the token and so it reflected to its market cap and pricing.
All the signs of rug pulls are on Addmefast. This is a lesson that even a decade-old platform can fade away if they do not evolve. I guess they plan to pull a rug by creating their own token and launching an ICO. They create their cash cow, so when they vanish, they are full of cash in their pockets.
Their community did not expect this because they've been running their platform for over a decade, so they don't believe that a decades-old project will not do a rug pull, because they can.