Create Fiat Token


#1

Can someone just create a token on Waves, qty 1,000,000, list them on Dex for $1USD, wait for people to buy them, and convert those funds to fiat?

In this example: Let’s say 10,000 get bought. Would the token creator now have $10,000?


#2

Sure that’s how it works, question is why should somebody buy it.


#3

Thanks. And what if the tokens were given to me in an airdrop?

So essentially, someone can create a token, send 1000 of them to a friend in an airdrop, then go on the Dex and make the token $1.00 each. And now the friend would have $1000 worth that they could trade for Waves and convert to fiat. Is this correct?


#4

If someone is willing to pay 1 dollar each for that token sure. But who is going to do so? The friend who airdropped is going to to buy back his own tokens for 1$ each? Why would anyone pay for the token?


#5

This is how scammers try to get a quick buck. list there for price x , convince or trick people to buy them.

Nobody will buy something without value (or without promissed value)