*** The Better Mousetrap *** Pt. 5: SMRAT vs. HODL, MSHLD, Solarfare, and More

Dear Fellow Rats,

In light of the recent attention to some of the copycat coins out there I have decided to take the time to share my analysis of them. Please understand this is not an attempt to FUD or promote any other coin, but having analyzed them in most cases since they day they launched I would like to educate the community on what their real value and drawbacks are and explain why I have chosen to continue investing in SMRAT rather than the alternatives.

Summary – Due to my assessment of risk vs realistic possible return I still see SMRAT as the best passive income coin on the market. Each of the competing coins suffers from one or more of the following: lack of audit/not rugpull safe, significant legal liability, tokenomics that only benefit whales/result in a ponzi scheme like structure, and lack of transparency. Please don’t use this post as FUD fodder for other coins, save it for when and if my analysis ends up being right as a way to bring others into a truly better option for passive income generation.

As a disclaimer – my words are NOT intended to be in any way financial advice and I would strongly suggest against making any buy/sell decisions based on my thoughts. Crypto is uncharted territory and anything is possible, my analysis could very well be flawed or incorrect and there are countless factors I won’t even pretend I can predict. Please do your own due diligence and base your investment decisions on what you can yourself verify. Regarding my background, I am not a dev, I am not a crypto guru, however I have spent my career in the finance world working with various equity and debt products and their valuations. I say that not to influence your decisions, but as the context through which my thoughts are being written. I will also be upfront and say I am personally an investor, currently holding over 250BN SMRAT however I will do my upmost to be as unbiased as possible in the analysis below.

HODL Token – HODL can be thought of a direct copy of the MRAT v1 code with 3 notable exceptions. 1) The exploit bug was fixed 2) they have a mechanic that donates 20% of any collection over 1BNB to a charity wallet which is stated be donated in the future (although no specific plan is outlined for this) and 3) collections have been switched from weekly to daily. Aside from these 3 tokenomics, the coin is identical to our v1 token as far as I can tell. The coin has skyrocketed in the past 48 hours, going from a MC of about $4MM to $60MM as of writing this. Their BNB pool has similarly shot up – going from around 50BNB to 3400BNB over the same period. In terms of development – the coins roadmap is literally a direct copy and paste of about 2/3rds of Moonrat’s v1 roadmap and promises things such as listing, gambling, and nft integration. In terms of security – the coin has not yet been fully audited – they have the free automated 10 hour tekrate basic bug checker but at least from what I’ve been able to find on their website they have NOT APPLIED FOR A COMPLETE AUDIT. This is not something in of itself that makes this coin high risk, but it definitely should be something investors should keep in mind as it’s one of the few $50MM MC coins I’ve come across that has not received a detailed independent review.

Another feature that stands out to me is that they offer a BNB calculator on their website which provides an estimated ROI and annual BNB collection amount. I’ve spent no joke a full 24 hours trying to remake it in excel, I’ve reached out to the coin’s developers on every forum attempting to get some clarification on their assumptions to no avail. Regardless herein lies my first concern, the BNB calculator is absolute and total BS and honestly likely highly illegal since it promises investors an insane and impossible return (they have a single line footnote stating that the calculator is based on estimates but it does not clarify what the estimates are or provide any of the real defense of it not being financial advice). I showed it to my friend who is a senior legal advisor for a boutique investment bank and his reaction was and I quote “holy shit… for their sake I hope they live somewhere without a legal system”. Anyways – with all that being said I was able to build my own calculator which assumed their tokenomics and resulted in an almost identical payout prediction which sounds great but in order to achieve it the MC had to reach $14BN and trading volume had to reach and sustain the peak trading volume safemoon ever reached for a period of at least 4 months (safemoon’s trading volume was only within 10% of its peak volume for 72 hours for context).

But whatever lets ignore the calculator and focus on the real issue behind the coin – its daily claim ability. Way back in V1 I explained how the pool can never reach 0 -basically just the concept that if two holders the BNB pool after the first round of claims will be at 25BNB (50BNB remaining after claim one and then 25BNB remaining after claim two since each holder as the right to 50% of the pool at the given moment of claim) and with 3 holders the residual amount grows to ~29BNB. Anyways the parity point given an infinite number of claiming parties is ~50% (and yes this assumes that no one is unable to claim due to their date being pushed back but just go with it). So with this in mind assuming everyone claimed any token which uses our tokenomics can see the pool drop by 50% after a round of claims. This isn’t a huge issue when the pool has adequate time to recover between claims, say a healthy week of trading volume, however when claims are daily you run into the very real issue of the BNB pool dropping significantly each day. HODL token has not seen this happen yet, the majority of holders are currently unable to claim due to their claim date being pushed back since they just bought in – however I am 100% confident we will see their pool fall sharply and quickly soon. Again that in of itself is not a game ender for the token – however the implications of a much smaller pool need to be considered. If you’ve been in our telegram you are well aware of the many daily chats asking why gas fees exceed BNB claim and Ive posted a number of times explaining how holders who currently are unable to claim bnb due to excess of fees will likely see the claim turn profitable as the pool grows – the real question is what our pool’s cap or parity point is. Again I wont site a specific number and yes I know our pool went down last week but that was a function of a broader market downturn, not us having maxed out. The issue as to how it concerns HODL however is their cap is at a minimum 7x smaller than our realistic cap as they only have 1 day to rebuild the pool between claims. Based on their current holding base, as soon as trading volume normalized and the BNB pool reaches parity as many as 54% of their holders will find it unprofitable to claim from the pool, when I modify the input to be our coin’s tokenomics rather than theirs (basically just a swap from a 1 day to a 7 day cycle) that # drops to 16%.

So in conclusion – I see HODL as overhyped and fundamentally flawed. The BNB pool is already well above what I see its realistic cap, and I believe it will decline sharply in the upcoming days. As it drops many of their investors will see their claim become unprofitable and will sell as unlike our coin parity has already been reached and exceeded, and the coin will collapse into oblivion as it is the smaller holders that generally drive volume and support the pool not the larger ones. That aside – the coin carries decent risk as it has not been truly audited – and the roadmap does not outline any real steps for value creation to its users, definitely not on the level of our tokens. The charity feature is the only unique aspect and given their lack of details surrounding how donations will occur and who will oversee, there is a very real risk this could end up in dev wallets without anyone knowing. Some of you may see this as me trying to FUD – but please wait a week or two and you will see that I am spot on.

Next Spacerat – I’m not going to spend very much time here, the coin is a complete scam. It is brand new true but their website has literally no info of value or proof of anything, they don’t have any audit whatsoever, all the link where you should be able to click to get additional details or read the contract link back to the main page – I wouldn’t touch this project with a 10 foot poll based on that alone but add in the fact that it literally is just the v1 MRAT code with no changes in terms of additional value I don’t see why any person in their right mind would buy this token.

Moonshield – I actually like this project more than HODL (not as much as SMRAT don’t worry). They have an actual audit done (although I will say its by a rather small firm I think maybe just some college kids – doesn’t mean its bad though), and they have an actual roadmap with real goals and projects unlike our dear HODL friend. For reasons I will get into later our coin is still has more to offer in terms of current use, tokenomics, and the roadmap, but if I had to pick one of the coins listed so far I would grudgingly put my cash here

Solarflare – this was the first SMRAT copy I was aware but it recently suffered a setback after a significant exploit was identified. I have been told that the issue has been fixed however the fix has not yet received audit approval (I hear it is to come out next week but again without it being out I cant say anything regarding its security). Also - there is nothing unique here that would provide value beyond what is already being provided by moonrat, in fact their roadmap is far less extensive meaning there is less ultimate value at least in my eyes. (Please note I incorrectly had that the devs abandoned the project which is what I had heard from multiple sources. They have not and are still active - I apologize and have updated as you can see above).

Having now looked at the competition lets look back on what our coin has to offer. We have proven, audited, and secure tokenomics. We have a sustainable BNB pool with the potential to grow to a level where even the smallest shrimp investors can see a profit, not just the whales. We have transparent devs who have been working themselves to the bone in order to not just keep the coin running in its current standing, but continuously improve and add more value. We have a new foundation page which will help promote and bring attention to the coin. This alone is already more than any one of the competing coins currently has so SMRAT is already the best value for the money, but that becomes even more augmented when we look at what is still to come. Not a single one of these coins has a single thing on their roadmap that isn’t on ours, go check out their websites its literally like their devs copied and past portions of ours, leaving out the ones that my be harder to create. I have complete confidence in our coin and our devs true intent and ability to make their promises happen. Their transparency is unmatched on the binance chain and so is their dedication to this project. I know many of you are worried looking at the competition but please join me in viewing this as an opportunity for us, a ton of new investors have been introduced to passive income projects and many of them are in love with the concept. When HODL and others begin to fail don’t say “I told you so”, instead bring them into our community with open arms. Show them how, especially at the current price, we have so much already tangibly done and bringing value and how much more they could truly be getting here. Our project will succeed, we will go far, be patient my friends and continue spreading the word. It’s only a matter of time – I remain #moonratgang for life and am more optimistic than ever. Many of you may be too next week after the dev announcement 😉.

Best,

A Proud Member of the Moonrat Gang