The LayerZero team has introduced a new token claiming mechanism called Proof-of-Donation, where you need to send $0.1 in USDC, USDT, or ETH to the developers for each 1 ZRO token.
So, first you have to spend time and money to get into the drop, and then you have to pay for the tokens. Couldn't they have just done a presale?
On the listing, ZRO is going for $4, so people will definitely donate to get the tokens, but the team will be remembered for this... #ZRO #Ethereum #LayerZero
$TUSD 🐥Tether is a financial pyramid that will repeat the fate of FTX
It's been a while, and here we go again with new FUD about USDT. The consumer protection company Consumers' Research accuses Tether of ties with the authorities of China and Russia, terrorist groups, and drug cartels. #fud #USDT #Tether #ftx
How Rug Pull Scams Work and How Not to Fall Victim 😡
Rug pull – theft of money by the token developers, is common on DEXs (where they control trading) and especially in meme tokens (where they don't need to bother with whitepapers and other details). At some point, the team simply takes all the money and disappears.
3 types of rug pull: ▫️ Withdrawal of assets from the liquidity pool on a DEX. ▫️ Changing the smart contract to prohibit the sale of the token. ▫️ The team/insiders dump all their available token holdings in a short time 😈
What to do: ▪️ In theory, any team with a token on a DEX can turn bad at any moment and take the money, so the best protection is not to use DEXs. ▪️ If the first option is not suitable, gather as much information as possible about the project/team/token/contract and double-check everything multiple times to minimize risk #DEX #scam #rugpull #learningMoment