Wednesday, 27 October 2021 10:23 GMT

How BlockPad Safeguards Investors From Rug Pulls and Scams


(MENAFN- GlobeNewsWire - Nasdaq) British Virgin Island, Oct. 13, 2021 (GLOBE NEWSWIRE) -- Irrespective of the tremendous growth of the crypto market, it still lacks investor confidence. This emerging ecosystem is still witnessing unexpected rugs after Initial DEX Offerings (IDO). As a result, hundreds of thousands of dollars, if not millions, are being stolen from investors.

Though young projects with innovative ideas hold immense potential in terms of return on investment (ROI), the process of fundraising via IDOs contains little protection on investments. Due to the decentralized nature of blockchain, funds once sent on the network can't be recovered once rugged.

Establishing very low initial market capitalization indeed supports token price but as token values and market capitalizations are being pulled out of thin air, it carries higher risks of price falls after DEX listings. Nevertheless, investors are also played by artificial marketing making techniques.

Aside from such unbearable risks, token price crash frequently occurs because of teams selling off their tokens or pulling out liquidity fueled to DEXs. Such incidents take place because of money pouring like water in this lucrative crypto market.

With BlockPad, investors get a vetting platform to distinguish genuine projects from rugs. With an aim to protect investors, helping the market climb new heights, from greedy teams, price manipulation and rugs; BlockPad offers two of the most promising DeFi products for vesting tokens and locking liquidity.

The multichain BlockPad Vault offers an intuitive user interface using which project owners or teams can create vesting schedules for an infinite number of tokens, even without any prior technical knowledge. All they need to do is enter the number of tokens and the duration they want to lock tokens for.

It entirely eliminates the lack of confidence in not receiving vested tokens after a considerable period of time. Investors will be able to see their vested tokens through the platform via“Tack My Locks” along with total distribution shots, token value and the next unlock time.

Audited by QuillHash, BlockPad Vault has already surpassed ATH TVL of $25m. It will be powered by $BPAD, a native token on Binance Smart Chain (BSC) with a total supply of 10,000,000. A certain portion of fees collected by BlockPad Vault will be utilized to buy back and burn $BPAD tokens to support its value.

About BlockPad

The BlockPad is a multichain network of decentralized applications that acts as a gateway to the Web 3.0 ecosystem. It predominantly solves the issue of investor confidence in Decentralized Finance (DeFi) by providing a suite of decentralized and intuitive products with compatibility of multiple blockchains.

It offers a decentralized way to safeguards investors from a range of projects that might pull out the liquidity or sell off vested tokens. On the other hand, projects can leverage its ecosystem from raising funds to token price and liquidity boosting staking and liquidity mining applications.

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