In the last few days you could witness an intensive hype towards the notorious platform called Stellar Dolphin. Dozens of complimentary posts and tweets praise the project in order to attract more users of their new currency XDM.
If you were unaware of the story, in a nutshell, Stellar Dolphin is a hardfork of Stellar Lumen, a good and respected cryptocurrency. So, developers of the new platform claim their product will offer less transaction fees, better security and elaborated decentralization of the network. This is logical, to try to fork something successful. In fact, Stellar Lumen (XLM) has been showing very impressive results during general crypto downtrend as its exchange rate to US dollar is 1240% higher than 1 year ago. Looks like someone decided to make some money taking advantage of the running platform, doesn’t it?
In turn, conventional Stellar community hinted that the new platform is potentially a scam. Their arguments are pretty reasonable as, even though hardfork is a natural extension of the existing blockchain, this certain case has been supported by the minority of developers. Thus, it seems the new fork won’t be able to succeed while it will be necessary to upgrade their software to everybody this move can be sort of a drag.
There are even more doubts if this initiative will continue. For instance, anonymous team of developers is distracting many potential users. Their WP is a bit of a mess and their roadmap is covering only 2 nearest quarters without any substantial plan. And finally, you can see their Telegram chat us a room full of bots.
There were complaints about the request to provide the private key during the purchase of XDM, which is a total scam attitude. The strategy of the currency distribution is not obvious. For earlybirds the developers offer 20 mln XDM’s at the very attractive rates as it’s written in their Telegram. But, on their website you can’t find a word about that. Conversely, they say each XLM holder will receive XDM in the ratio of 1:1 for free. It is also unclear if those 20 mln has been purchased so far. Yet to this day there’s no warranty scheme to be presented.
As we said, there’s a massive promo campaign going in favour of Stellar Dolphin. And it’s no wonder because the official fork is set to start on August 30. Well, time is short for that. For what? Let’s see what happens.