A stealth-launched crypto token created by an anonymous developer known as "Hourglass" has generated buzz, attracting a wildly enthusiastic community and reaching a market cap of over a million dollars within a week.
LOS ANGELES, Aug. 29, 2022 /PRNewswire-PRWeb/ -- A stealth-launched crypto token known as "Hourglass" has generated buzz, reaching a market cap of over a million dollars and attracting over 300 wallet holders within a week.
This came after an anonymous developer railed against crypto industry scams, tax grabs, and paid influencer driven pumps in an emotion-filled Medium post.
The developer then offered an alternative, vowing "I am the HourGlass and I provide you with the opportunity to lead something yourself without the help of others."
In a display that some of his supporters call "walking the walk," the developer launched the Hourglass token, which trades under cashtag $WAIT by renouncing ownership and disabling functions only available to the owner, effectively making him equal to the community owners of the token in many ways. In addition, the developer has locked liquidity for 100 years, and made it zero tax, making it essentially "rug proof."
Shiba-Inu, which was also stealth launched with the mission statement of decentralization, rose 53,241,775% in 2021, offering what the Motley Fool called "mind blowing gains." In the same article, Jennifer Saibil wrote in December of last year "If you'd invested $100 in Shiba Inu exactly a year ago, you'd have more than $53 million."
One believer and day one buyer of the Hourglass token is Crypto Twitter influencer Alex Lofourno. Lofourno specializes in speculating in the space of sub 1 million market cap tokens. One of his most recent successful calls, which has garnered him quite a following is buying into $TSUKA when the market cap was under a million just weeks ago. Since then, $TSUKA has peaked at a $67 million dollar market cap.
"The reason more investors are moving to ownership-renounced, community-owned tokens that have liquidity locked is because there is no outside force dumping on you," Lofourno explains. "A lot of people are tired of tokens where insiders get sweetheart deals that retail can't compete with and the project owner holds the lion's share and can keep diluting the supply whenever they want. With community-owned tokens, we are all equal."
Another aspect of the Hourglass community, which has dubbed itself "The Timekeepers," is that some community members who the developer reached out to via his anonymous social media account have been able to correspond directly with him. He is collaborating with some community members in actively building utility into $WAIT as well as launching a supportive NFT Project.
One of the Hourglass community Telegram administrators who goes by Lemon Drops explained "the details are still a secret, but I'm in touch with the developer and he will be developing both a dapp and NFT project that bring true utility to this project. This will further the mission of crypto education, as well as fairness for all."
"That's not all," Lemon continues, "he is watching the community everyday and is going to be helping us out with buys and burns. He has already burned 2% of the token supply and will continue to do so. He also has a significant amount of Ethereum in a wallet dedicated to just this and helping us succeed."
Whether the Timekeepers achieve the same level of success as Shiba-Inu or Tsuka remains to be seen. Lemon is optimistic. "Anyone can review our holders right on the blockchain and can see we have attracted extremely large wallets from backers of other big projects," he says. "They aren't buying and selling everyday, they are staying put. I think we are going to see a supply squeeze in not long."
The wild enthusiasm of the Hourglass community in social media channels including Twitter and Telegram, which now boasts over 1,300 members, mirror Lemon's optimism. In the unpredictable world of cryptocurrencies, the story of the Hourglass community is off to quite a start.
Chris Lee, HourGlass Community , 1 3105967654, [email protected]
SOURCE HourGlass Community