What is Ash Crypto Token?
Today we are discussing Ash crypto, an altcoin claiming to "participate in the funding of sustainable initiatives for pollution removal…".
Ash token, or ASH as it’s referred to on Pancake Swap, claims to be a project that supports corporate ESG initiatives. According to CoinGecko, the token addressed on the Binance Smart Chain at 0xe3c1bdeec4db91cd90c336776332fae2e00fddd9 is indeed live and shows a standing supply of ten trillion tokens. The ASH crypto token is available only through Pancake Swap. At this time, this project does not appear to be legitimate.
How does ASH function?
According to their website, the ASH token is governance-based, supposedly allowing token holders to decide how the initial token sale is allocated. The ASH crypto website claims that additional liquidity will be generated through transaction fees. It does not prove any of this through any technical documentation or verification.
How this token will support transaction fees still is to be seen. ASH token is on the Binance Smart Chain and can only be bought via Pancake Swap. This is then used to fund the creation of something called the Phoenix Launchpad. This is the "ecosystem" in which ASH token holders will be involved.
The website says that the ultimate goal of ASH is to create something called a Phoenix token. The company claims it will use a proof-of-work (PoW) mechanism that mints the tokens based on an amount of pollution removed from the environment, determined by the type of pollutant.
The project has a website, a whitepaper, and a teams section with what appear to be real LinkedIn profiles. However, there is an apparent lack of oversight and regulatory approval. It claims that it will fund eco-initiatives and even has a section for applications to something called the Ash DAO Fund, a fund that is supposed to support green tech and clean tech projects.
Currently, the only way to purchase ASH is via Pancake Swap at a price of $0.000000991263.
With the large number of crypto scams out there, it's worth waiting to see if further developments and news are coming out of this project. Anyone can create a token on PancakeSwap, and it's important that due diligence is conducted when looking at any potential investment.
In this case, a high degree of caution is advised. It is still to be shown whether this project is indeed legitimate.
Author: Damir Khamzin
Having begun his career as a copy editor at Stockwatch, Damir was uniquely equipped to enter the crypto world by writing content for blockchain games. After learning about Bitcoin, he dove right in and has written for several cryptocurrency and finance blogs. He lives in Vancouver, BC and enjoys writing science fiction/fantasy in his spare time.