BNB Chain welcomed Ronaldinho Gaúcho into crypto when he created Star10 STAR10 as his memecoin. Within ten hours the cryptocurrency STAR10 reached $397 million in market value and then returned to $274 million based on Dexscreener data.
Through his announcement on March 3 Ronaldinho told STAR10 owners they could get unique benefits including signed items, AI usefulness and event admission. The community chooses social welfare objectives that receive 5% of STAR10 transactions fees.
The tokenomics setup and security measures of STAR10 created problems according to industry reviews. Some project insiders own 35% of STAR10 tokens including 20% by Ronaldinho and another 15% by development team members.
STAR10 Promises Exclusive Benefits
Past failures such as LIBRA dimmed the market when its insiders sold $107 million worth of tokens soon after the Argentine President Javier Milei launched his ICO. According to The Data Nerd’s analysis there was no token selling from the major STAR10 insider wallets but these wallets supported trading pools.
The security firm SlowMist determined that Ronaldinho gave up control of the blockchain to block any unauthorized access. Security experts first spotted problems with STAR10 due to terms that enabled the project creator to block any token users at their discretion.
GoPlus Security distinguished this vulnerability as a security threat to Web3 networks. The move to renounce ownership solved the original issue even though investors remain doubtful about crypto products endorsed by celebrities.
Blockchain firm Fideum CEO Anastasija Plotnikova explains that memecoins have valuable collectible value but investors need to separate them from fraudulent token scams. Criminal activities represent both unethical conduct and illegal actions that must be enforced and have upheld legal cases to do so.
STAR10 attracts investors today but regulators may block its long-term existence because of their increased focus on memecoin regulation.
