In those days, participating in Scorum's monthly contest used to be the easiest way for newbies to gain traction on the platform. Not only that! It was also the fastest way to gain the attention of the big guys to your blog. You know what I mean by "the big guys?". These were the large SP holders 😉
Now, kudos to the team for going back to the good old days of fostering engagements on the platform. The $30 prize for the three lucky winners might not be much but at least it's a sign that the team is bringing back the contest to engage the community
I am writing this post to participate in the new writing contest and I will be sharing my unpleasant experience, moving from Scorum to invest in Uptrennd and I will try as much as I can to summarize it, so that the post won't be too lengthy to read
A lot has happened over the years on Scorum even though they haven't been as exciting as we would have loved. Most of us witnessed the broad decline in the economic activities of Scorum that plunged the platform into retrogression for a few years. We saw how the interest of our members fizzled-out, how many powered down and sold their stakes for peanut
As if that was not enough, Hotbit added to the jury by announcing the delisting of SCR and then gave a deadline to withdraw our tokens else we'd lose them. We hoped on the team to come to our rescue. We hope they could perform a magic by relisting SCR on another Decentralized Exchange but unfortunately, they did not have the economic power to make that happen.
It was during this phase that it seemed all hope was lost for Scorum that I discovered Uptrennd. Uptrennd was similar to Scorum. They are both blockchain blogging platforms but with different reward and economic model. Although they both use the power up system but the only difference is that, on Scorum, you would need to power up your coins to reward others and as well earn curation rewards and can be powered down to become liquid over a period of 52 weeks while on Uptrennd, you would also need to use your coins to level up to increase your earning power but the 1up tokens are completely burnt thus removing it from the total supply
I took a glance at their trending page, only to discover that some of our members where already active there. I made my first post, bought some tokens on Idex and powered up
One thing I discovered was that Scorum was far better than Uptrennd in terms of quality posts. At least we had the plagiarism checker that was always on the look out for plagiarised content while Uptrennd accommodated all kinds of spam and plagiarised content
Also, the Scorum team seemed to be a bit more transparent team than the Uptrennd team. The Uptrennd team comprises of devs who were good at boasting, sugar-coating and exaggerating figures just to attract investors. They were also good at announcing fake partnerships to attract investors
The height of it was that the team continually developed tactics that no one can easily suspect, which involved selling million of tokens through OTC while denying it, and each time they were asked how they were funding the project, the devs couldn't explain how the platform earned its revenue or where it actually was coming from
On multiple times, the team were accused of being involved in price manipulation and making shady transactions into strange wallets. They were dragged for dumping their bags and misleading the public with fake partnerships. If you've been in crypto for long, you would know if the team are manipulating the market or selling their bags
One day, we woke up and discovered they shut down the server of the platform and took the exit route. The heavy price dump that followed their exit was insane. The team played a smart on investors and got everyone burnt
Summary
The crypto world is experiencing a rise in innovative, obscure, and suspicious looking social platforms popup on the web in recent years. Most of these platforms like Uptrennd come in many shapes and forms but they are all after one thing, which is to rob you of your digital assets
Some of these platforms are simple to detect as scam while some are more complex but one thing to note about the idea of incentivized social media is that, where there’s money, there’s also the potential for rampant fraud.
Bad guys seems to be taking over the crypto space and are very good in marketing their products. It's important for us to remain vigilant against the most common scams: fake airdrops, rug pulls, fake NFTs, spoofing, and phishing attack
P.S: Unfortunately I couldn't get Uptrennd images to compile this post since the platform has been shut down
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