Legendary Brazilian footballer Ronaldinho Gaúcho has recently introduced STAR10, his official cryptocurrency on the Binance Smart Chain (BNB Chain).
Ronaldinho’s STAR10 Project
STAR10 token holders can enjoy a range of exclusive benefits, including access to signed memorabilia and VIP experiences like private events and behind-the-scenes tours.
The project’s team emphasizes a long-term approach, focusing on providing real value rather than just speculative gains. A portion of the project’s fees will be dedicated to supporting social causes, with the community having a say in how these funds are utilized.
The total supply of STAR10 tokens is set at one billion. 25% of the tokens are allocated to liquidity, while 20% are reserved for public sale. Ronaldinho himself holds 20% of the tokens, with 15% going towards marketing and operations, another 15% retained by the team, and 5% set aside for centralized exchange listings.
There is a lock-up period in place to prevent Ronaldinho and his team from accessing their tokens for six months. After this period, the tokens will gradually unlock over a span of three years.
Concerns Arise
After a successful launch, STAR10 saw a surge in value, reaching an all-time high of $0.3855 and a market capitalization exceeding $360 million. However, concerns regarding potential insider trading have come to light.
An individual closely associated with Ronaldinho reportedly made a profit of nearly $5 million by acquiring and selling a large number of STAR10 tokens. Another suspicious transaction involving a significant portion of the total token supply has also raised red flags.
Security firm GoPlus initially raised concerns about the token’s smart contract, specifically the ability for the owner to burn tokens from any holder’s wallet. While this vulnerability has since been addressed, it initially posed a significant risk to investors.
