Fomo3D: Reboot — is a Ponzi scheme, where everyone makes money as long as people come and invest money, or, in this case, ETH.
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Description of the Fomo3D: Reboot
Fomo3D — an Ethereum-based pyramid scheme. The sooner you invest, the more you benefit from what other people invest after you.
People invest ETH in a smart contract (they call it "to buy keys"). There is a timer that runs from 24 hours to 0. If it reaches 0, then about half of the pot is paid to the address that bought the last key before the timer expired. Each purchase of a key increases the timer by 30 seconds. With every purchase of a key, its price rises slightly. The share of the spent ETH and the total pool go to all players. The remaining ETH goes to the creators of this "game" and the holders of P3D stock.
There are two main strategies for how to benefit from this game:
| 1 | Buy early so more people invest after you. |
| 2 | Grab the pot. |
At the very beginning of the game, the timer was constantly increasing until 24:00:00 (which is the maximum), and although buying keys did not increase the timer further and the chances of you winning the pot were almost 0, people continued to buy. This made Fomo3D DApp # 1 on DappRadar and caused a lot of congestion on the Ethereum network.
Additional information
There is no WhitePaper and RoadMap document on the site. Instead, only some of the features and rules of participation are available. There is only a discord channel from social networks. The smart contract has not been audited.