Soccer legend Ronaldinho has launched a new memecoin, Star10, on the BNB Chain. The project, which aims to offer exclusive experiences for token holders, quickly gained public attention but also raised questions about its tokenomics and security.
The Launch of Star10 Memecoin
On March 3, Ronaldinho launched the official Star10 memecoin on the BNB Chain. His post on X stated that holding this token grants exclusive experiences, real benefits, and signed collectibles. Within 10 hours of its launch, the token's market capitalization peaked at $397 million, later dropping to $274 million.
Tokenomics and Security Concerns
The Star10 memecoin has raised discussions due to its tokenomics, specifically 35% of the tokens being allocated to insiders, including 20% for Ronaldinho and 15% for the team. Experts initially flagged the contract as risky because it allowed the creator to burn any holder's tokens. However, the project has reportedly renounced ownership over the contract, reducing the risk of token destruction.
Experts' and Investors' Opinions
Experts and investors are cautiously evaluating Star10's prospects, considering the disappointing past experiences with other memecoins like the Libra collapse. Anastasia Plotnikova, co-founder of Fideum, emphasized the importance of distinguishing between genuine collectibles and fraudulent activities. Whether Star10 can avoid similar pitfalls remains a relevant question.
Ronaldinho's Star10 launch attracted attention by offering unique opportunities for token holders but also raised concerns regarding its tokenomics and security. The memecoin market remains scrutinized due to fraud risks, highlighting the need for clear distinctions between genuine potential and deceptive intentions.
