This invented case illustrates a risk pattern. It does not describe a real coin.
A fixed supply was announced. Unfortunately, the announcement was the only thing that was fixed.
Sir Pepe of Kensington promised scarcity in a beautifully typeset prospectus. The mint authority—the permission to create more tokens—was never revoked.
The fictional developer used that permission to create an enormous additional balance, then sold it into the existing pool. Everyone else’s share of the supply became markedly smaller.
The logo remained tasteful throughout. This offered little comfort to those attempting to exit.
A privileged wallet could increase the supply after buyers arrived.
A small group controlled most of the tokens and could dominate selling.
The token’s name and artwork reference could be changed at the authority’s discretion.
Promises of scarcity deserve a permission check.Examine a token