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Calcium (CAL): How a Worthless Token Became a Real Project by a Rebel Community
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A token that was supposed to be worthless has become a real project thanks to a group of activist traders. Calcium (CAL) is a token that was created by the Shiba Inu team as part of a technical process to renounce the ownership of another token called bone (BONE). Renouncing ownership means that the developers give up their control over the smart contract that governs the token, making it more secure and decentralized for the investors.
However, instead of ignoring the CAL token as the developers advised, some traders bought it and added liquidity to it on Uniswap, a decentralized exchange (DEX). They also created a Telegram chat and a Twitter account to promote the token and rally against the Shiba Inu team, whom they accused of betraying the community and the ecosystem.
The CAL token on Uniswap quickly gained popularity, attracting over 1,400 holders and generating $4 million in trading volume in less than 12 hours. The token also had $164,000 in liquidity, meaning that there was enough supply and demand for the token to be traded smoothly. On the other hand, the CAL token on ShibaSwap, another DEX created by the Shiba Inu team, lost almost all its value and liquidity, as most traders moved to Uniswap.
This shows how crypto projects can be driven by community sentiment and action, rather than by developer endorsement or intention. Any token can become a viable project if there is enough interest and support from the users, who can also provide liquidity and development for the token. The Calcium token is an example of how a dummy token can turn into a real thing in the crypto world.
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