2022-02-13 03:25:00
With the amount of scams being shilled at the moment I want to give you guys the 4 most common red flags I encounter on projects that end up rugging.
1. False sense of security/over promising.
-What I mean by this is scam projects will normally pitch you an idea such as a p2e game,metaverse utility, etc to make you feel as if it is a safe long term play but than lack the proof of development or even a proper roadmap of how they will develop there utility.
2.Lack of team members/activity
-Remember these scam devs have one goal only which is to make themselves as much money as possible. Therefore they will most likely only have 1-3 team members in the telegram chat and will more than likely put in the least amount of effort leading to lack of activity within the chat.
3. Using LP locks as milestones.
-You see it all the time “long term” projects saying they will extend lock at 1M MC 5M MC etc. if it’s a serious long term project there is no reason why they shouldn’t have a longer LP lock from the jump.
4.Project inconsistencies
-Examples: “long term” project with short LP lock
not fulfilling promises such as delivering on specific marketing
Not renouncing or launching with a certain time of LP lock if they claimed they would pre launch
Not using tax money as intended. Promise buybacks? Than we should see buy backs etc
Not delivering on reasonable deadlines
These are just a few of many red flags I see in projects. I encourage you guys to post your own red flags in the comments to help create a safer space for everyone. Will work on a refined more organized update. Just wanted to get something out real quick.
NFA DYOR
113 viewsedited 00:25
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