So what is dent coin your probably wondering. I hadn’t heard about it till I had the misfortune of being at the receiving end of their referral marketing.
Well like a lot of shit coins it had a 2017 ICO which raised about 4.7 million dollars which fell far short of its 28 million dollar goal. This meant that they only sold around 10% of the token supply when they intended to get rid of 70%.
Their google docs hosted white paper is a true masterpiece ([https://drive.google.com/file/d/0B7XC9TPzyTmOd0pqQ3hRLUM0UzQ/view](https://drive.google.com/file/d/0B7XC9TPzyTmOd0pqQ3hRLUM0UzQ/view)). It outlines the idea of blockchain for the sake of blockchain and having a token to make the founders rich as they minted and fully controlled 100% of the token supply at conception (no inflation). Dent is this token and is an ERC20. It is used to pay for mobile data globally using the eSIM (not unique to dent and the existing solutions are way better), well as long as you stay in North America and Europe (there are a just over a dozen supported countries outside this area [https://www.dentwireless.com/dentesim](https://www.dentwireless.com/dentesim)). Your dent tokens are apparently traded on the dent exchange to pay for data when you purchase a plan with your dent tokens (e.g 40,000 dent tokens for 2 GB of data). However, like all the best crypto currency projects the software is not open source and is patented (Hbar shills finally a project truly worthy of your attention).
This project is unique and amazing in the fact that it adds frictions in the purchase of the service, it is completely centralised, gains non of the advantages of blockchain and gains many of its disadvantages. Firstly the tokens only use is to purchase data. There is no need for this token to exist, why not just use USDC or ETH instead for payment. All they have achieved is making their product more expensive, according to their own marketing material 1GB of data costs $9.99. transferring tokens is nice and expensive thanks to current gas fees. But you are probably thinking well this is the cost of decentralisation and pioneering. Well I hate to burst your bubble but if dent wireless was to go bust it would all stop working and that looks like a real possibility. After nearly 4 years they aren’t profitable and they are selling 600-800 million dent a month on the open market out of their war chest to fund development, when these funds run out how will they fund this crap ([https://www.dentfans.com/dent-token-distribution-and-releases/](https://www.dentfans.com/dent-token-distribution-and-releases/)). The wallet that you have to use to utilise their service is also pretty amazing look at these terms and conditions, I hope you didn’t like your coins cuz you may never see them again.
[Funds are not safu. So innovative. Honestly these terms and conditions are actually insane give them a read ( https://www.dentwireless.com/tc ). ](https://preview.redd.it/swihdmbi4dq61.png?width=1364&format=png&auto=webp&s=3c65a5ed751261ad7f901642b12829d5e875d7d1)
If you were in crypto space in 2017 you will be extremely glad to know that they jumped on the “saving Africa” train (page 12 of the white paper link above). So yes, you can be so selfless and use your crypto gains to help save all those African Children by giving them data, well as long as they are in 5 countries supported in Africa, not bad out of 54. I’m glad this was such a priority to the team, they are truly selfless. (If you haven’t gathered already I’m being sarcastic and I’m not stupid enough to think Africa actually needs saving)
The generosity of the team goes further than anyone can even imagine and they truly care about their users. They were so kind that they have been dumping tokens on the market so that everyone can afford a token, how selfless.
[Dent team dumping coins on noobs jumping in on all that juicy referral marketing (they only controlled 90% of the tokens after their failed ICO what else were they supposed to do with them)](https://preview.redd.it/jews95kvxcq61.png?width=1774&format=png&auto=webp&s=1d6f21a41bed21bc9b3ce943ec71d30777661e24)
[The team kindly trying to put an end to the suffering of all the investors and not drag out the pain any longer than was needed :)](https://preview.redd.it/ep9tcczjxcq61.png?width=905&format=png&auto=webp&s=acc4174dfc4e24a5d982de9dfc106996e650dab8)
Don’t worry guy the team is currently only dumping 600-800 million DENT a month onto the open market ([https://www.dentfans.com/dent-token-distribution-and-releases/](https://www.dentfans.com/dent-token-distribution-and-releases/)).
Also your personal data is governed under Hong Kong law so I guess that means all your data is being shared with the CCP to determine your social credit score lol.
I have to respect the people who have been making gains on this crap it has done a 65X since December and now has a stupidly high market cap of $1.2 billion and puts it at 79 on Coin Market Cap. If I was one of you I would take your gains and run for the hills but I am no financial advisor ([https://coinmarketcap.com/currencies/dent/](https://coinmarketcap.com/currencies/dent/)).
I made this to send to your friend when they send you that cancerous referral marketing to use as a learning resource.