New presale token, Mollars (MOLLARS), is nearing the end of its initial offering. Thousands of crypto traders have already purchased stakes to claim the new store-of-value token, pushing the ICO to nearly $1.2-Million-dollars raised.
However massive a number, it’s what will happen after the presale closes and Mollars launches on its first crypto exchange, that’s intriguing. The new digital currency asset is expected to join the ranks of Dogecoin (DOGE) as one of the only ‘ownerless cryptos’ with a million-dollar liquidity pool.
What you'll learn 👉
What is ownerless crypto?
The founder of Mollars made it clear in a reddit post why they want to be ‘selfless’ in the store-of-value project. According to the innovationalist, any cryptocurrency with owners holding massive shares of the crypto they invented, renders it ‘centralized.’
“The owner of a digital currently that keeps a majority or massive amount of the total token supply for themselves without paying for it, makes it centralized,” wrote a Mollars project developer on X.
He continues elaborating with, “They are the new central bank. That includes Bitcoin ($BTC), Bonk Inu ($BONK), Shiba Inu ($SHIB), Ripple ($XRP), or whatever #cryptocurrency brand. Greed can kill anything.”
What makes a cryptocurrency Decentralized?
True theoretically; another recent report that highlights 5 of the top cryptocurrency founder’s holdings would indicate they could be a huge influence on how their respective cryptocurrency’s value goes. Also, it shows how wealthy they can become by slowly cashing out their tokens.
And though this practice has been normalized by most, it’s not quite ‘normal’ when one remembers the whole point of cryptocurrency is to lead society away from fiat currency because there’s single entities or corporations that control how they flow.
Dogecoin ($DOGE) Founders Own Less than $40K Worth of $DOGE
Of the top 5 mentioned and many other cryptocurrencies not named on the list, Dogecoin (DOGE) is likely the only top crypto-coin that has founders who did not take large sums of their creation [cryptocurrency] for themselves. Engineers, Billy Markus and Jackson Palmer, went as far as to reject $DOGE loyalists request for them to be a public face of the brand.
In fact, Dogecoin (DOGE) was created as a joke. Markus believes the memecoin industry is a farce, actually reposting a 2013 message to remind the world of his views on society’s intelligence.
That reposted tweet from Billy Markus’ official X account (@BillyM2K) reads, “Dogecoin is a really good indicator for how retarded people are getting.”
The cynical cryptocurrency creator mocks both Bitcoin and Shiba Inu with his username, Shibetoshi Nakamoto.
Regardless of the jokes or personal beliefs of Markus, the money that’s been made from crypto investments is real. Even his own creation, $DOGE, had ROI yields of +105% over the last month. If Elon Musk pushed the Dogecoin brand again, the profit yields would be even higher.
As for their personal holdings in $DOGE, it’s reported that Markus owns about 220,000 coins. The value of this today would only be about $37,4000. Co-founder Jackson Palmer’s holdings have never been revealed, but it’s believed he owns even less of the token.
Neither of the two founders has enough of the Dogecoins themselves to influence the market.
Mollars token project plans appear to go one step further. According to whitepaper and various social media posts, the creators only want to help resolve the issue of having to pay exorbitant transaction fees when using the Bitcoin-blockchain. Their new deflationary token will give traders a store-of-value asset on a blockchain that has average trading fees that are -80% less than $BTC.
The Only Organic Token Values? Mollars & Dogecoin
If the Token presale closes at the ~US$2-million-dollars targeted with their 4-million coin hard cap, it has the potential to be in the same ‘ownerless crypto’ class as Dogecoin (DOGE). Mollars could become the only other popular cryptocurrency, with a multi-million-dollar liquidity pool, that has no ‘centralized power source,’ making it have a more organic trade value than rival store-of-value cryptos and memecoin brands, including Bitcoin.
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