Bitcoin NewsEthereum NewsNFT NewsDeFi NewsAltcoin NewsBlockchain NewsPress Releases Sponsored Cryptonews Deals Industry Talk ICO newsFinance NewsTechnology News
No Result
View All Result
Friday, February 3, 2023
  • Login
  • News Story
  • Blockchain
  • Cryptocurrency
    • Exchanges
  • NFT
  • Metaverse
  • DAO
  • Listicle
Subscribe
Bitcoin NewsEthereum NewsNFT NewsDeFi NewsAltcoin NewsBlockchain NewsPress Releases Sponsored Cryptonews Deals Industry Talk ICO newsFinance NewsTechnology News
  • News Story
  • Blockchain
  • Cryptocurrency
    • Exchanges
  • NFT
  • Metaverse
  • DAO
  • Listicle
No Result
View All Result
Bitcoin NewsEthereum NewsNFT NewsDeFi NewsAltcoin NewsBlockchain NewsPress Releases Sponsored Cryptonews Deals Industry Talk ICO newsFinance NewsTechnology News
No Result
View All Result
ADVERTISEMENT
Home News Story

Uniswap: 98% of tokens are rug pulls

by Ashutosh Thakur
November 1, 2022
in News Story
125
0
Uniswap Eth Ethereum Attaque Hack 1
153
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter

RelatedPosts

BNB Chain becomes the largest layer 1 blockchain in the world!

Weekly Crypto #221 – Bitcoin and cryptocurrency news of the week

Sam Bankman-Fried faces extradition to US

Uniswap, a lark mirror? – Spearheading the DeFi sector from 2020, Uniswap has been able to revolutionize the way of using its cryptos. The famous horned platform actively participated in the launch of the DeFi era, of farming and des airdrops. As the biggest DEX (decentralized exchange) on Ethereum, Uniswap attracts a lot of capital, a multitude of users, and also, of course, scams and dubious projects. Many more than we would have imagined…

Uniswap, trap for beginners?

As the first decentralized exchange on Ethereum, Uniswap is also the main gateway for newcomers to the DeFi. In love with a pleasant feeling of freedom – full possession of their money, their cryptos – beginners are often fooled. Because by playing too much with your capital, you sometimes burn your wings. Or we get fleeced in this case.

Uniswap doesn’t sort it out, it’s a ration of freedom for everyone, ” don’t trust, verify (don’t believe, verify). Therefore, everyone is free to create their meaningless token and try to pass it on to the first naive people who come along. However, many are those who arrive on these DeFi protocolsthinking of discovering a new revolutionary project, without being aware of the risks.

Uniswap, identifies many “rug pulls” for beginners

A new study highlights a totally astronomical proportion of fake projects thriving on Uniswap.

“The data takes into account all tokens listed between May 4, 2020 and September 3, 2021. We recorded 26,957 scams for 631 real projects only. »

Or a proportion of 97.7% scams on our beautiful unicorn. But the analysis does not stop at this simple observation. It offers a tool to categorize these pitfalls and try to avoid them.

>> Plant your little cryptos and help them grow with 8% compound interest on FTX Earn (trade link) <<

Unicrypt, lair of rug pulls?

Through their research, Bruno Mazorra, Victor Adam et vanessa daza have developed an automatic detection tool for rug pulls (scams). It relies for this on the composition of the farming pools on Uniswap, the distribution of tokens on the different addresses and the distribution among investors upstream of the project. The detection rate of fraudulent projects is impressive, 99,4%.

Through This Study, A Tool For Detecting Uniswap Scams Was Created.  Something To Help Dex Users.
Researchers are developing a tool that detects future rug pulls

More surprisingly, one of the conclusions of the report mentions the inefficiency ofUnicrypt to fight against these scams. By imposing on projects a blocking of part of their funds, this platform is supposed to allow them by this act to justify their good faith to investors. Unfortunately, the study shows that 90% of projects using Unicrypt ultimately turn out to be scams.

To dispose of one’s money according to one’s desire is Freedom offered by cryptos and DeFi. Uniswap is just one of the tools. The counterpart is the responsibility not to rush headlong ! To study each project before « swap » his precious cryptos against unknown tokens. Especially if these, adorned with beautiful rainbow colors, promise us the moon.

In cryptos, you learn, sometimes in a hard way, to be responsible for your money, for your actions. Because there is no after-sales service. The fault lies in part with our current financial system, which infantilizes citizens. On the one hand, the crypto ecosystem offers complete freedom. That of handling his money as he pleases and indeed risking through blunders having it stolen. On the other hand, the banks offer control, which is also total. Money that is no longer really ours. In the end, wouldn’t this monetary system also be a lark mirror ?

Centralized exchanges offer fewer possibilities than DEXs, for more security! Register without delay on the FTX reference platform. In addition, you benefit from a return of up to 8% on all your crypto assets (commercial link, see conditions on official website).

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe

Related Posts

Bnbchain
News Story

BNB Chain becomes the largest layer 1 blockchain in the world!

December 23, 2022
1.9k
Hebdocrypto2022 V1 3
News Story

Weekly Crypto #221 – Bitcoin and cryptocurrency news of the week

December 17, 2022
1.9k
Sam Bankman Fried Risque Une Extradition Vers Les Usa 01
News Story

Sam Bankman-Fried faces extradition to US

December 17, 2022
1.9k
Action Acheter 2023
News Story

Which stocks to buy in 2023? Top 3 promising actions for the new year!

December 17, 2022
1.9k
Gamestop Wallet Eth Ethereum 1
News Story

Cryptos: Gamestop turns away from blockchain games after big losses

December 11, 2022
1.9k
Ledger Presente Son Nouveau Wallet Crypto Nomme Ledger Stax 01
News Story

Ledger presents its new crypto wallet called Ledger Stax

December 11, 2022
1.9k
Load More
  • Trending
  • Comments
  • Latest
-The Blockchain Cafe

Write for us – guest post

April 14, 2022
Celcryptocrash

Important Update On The Celsius Network

June 14, 2022
Tcs-The Blockchain Cafe

TCS roll-outs Quartz DevKit to help businesses build blockchain applications 40% faster

December 4, 2021
Quorums And Quorum Slices -The Blockchain Cafe

What Are Quorums and Quorum Slices?

December 4, 2021
The Blockchain Cafe

10 Things A Crypto Beginner Should Know

0
The Blockchain Cafe

Ethereum: 10 Things You Did Not Know

0
The Blockchain Cafe

What Is Ripple: Complete Guide For Beginners

0
Sto-The Blockchain Cafe

What Is Security Token Offering (STO)?

0
Bnbchain

BNB Chain becomes the largest layer 1 blockchain in the world!

December 23, 2022
Banque Crypto 1

The New Crypto Limit Standards 2025: What Will Change?

December 21, 2022
Hedera Nft

Hedera prepares to tap into the next big NFT wave

December 21, 2022
Ftx Recouvrement Don

FTX affair: donations made to politicians to be returned at all costs

December 20, 2022
Bitcoin NewsEthereum NewsNFT NewsDeFi NewsAltcoin NewsBlockchain NewsPress Releases Sponsored Cryptonews Deals Industry Talk ICO newsFinance NewsTechnology News

© 2022 The Blockchain Cafe - Designed and Maintenance by The Blockchain Cafe.

Navigate Site

  • News Story
  • Blockchain
  • Cryptocurrency
  • NFT
  • Metaverse
  • DAO
  • Listicle

Follow Us

No Result
View All Result
  • News Story
  • Blockchain
  • Cryptocurrency
    • Exchanges
  • NFT
  • Metaverse
  • DAO
  • Listicle

© 2022 The Blockchain Cafe - Designed and Maintenance by The Blockchain Cafe.

Welcome Back!

Sign In with Linked In
OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Go to mobile version