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Author Topic: [PRE-ANN][RUGCHECK] Building a Safe Space for Crypto Investors  (Read 17 times)
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July 28, 2021, 01:53:24 AM

Anti-Rugpull Vigilante Movement

The Vigilante movement
Who are we?
The RugCheck Platform
The RugCheck Token
Future Plans

The Vigilante Movement

RugCheck is the name of our utility token. It is also the name of our website and platform. But we want it to become an idea that everyone in the Defi industry stands for. A movement.

Up and coming projects in the crypto sphere, especially on the Smart Chain, are unfortunately the reason why many investors are losing faith in cryptocurrency. The fraud-filled environment of the BSC, where each and every project claims to be “community-driven”, has reached an unprecedented level of sophistication, with developers constantly finding new and intricate ways to extort money from their investors.

This, in return, has also led the crowd of investors to adopt a highly toxic attitude towards developers, keeping them ultra-accountable and scrutinizing every single decision they make.

This cycle, which demotivates genuine developers, and makes investors increasingly wary by the day, is leading to the slow death of the shitcoin industry. While complete “death” might not be imminent, and the potential for growth of the crypto market is infinite, the confidence level of investors, and motivations of developers, is most definitely tumbling down.

The Anti-Rug Vigilante Movement, or ARVM, stands for one thing: making the crypto space a safe environment, friendly to all types of investors: beginners and old-timers.

Who Are We

My name is Seth. I am writing this whitepaper from my home in Washington state, and I am the leader of this movement. I have gathered a team of trusted investors, developers, and community leaders, to create what we hope will change the crypto industry forever.

A little while ago, I had the misfortune of investing in 3 different pre-sales in one day, the 3 of which ended up being rugpulls. A developer for one of those presales was fully doxxed, while the other 2 projects had incredible amounts of work put into them, and seemed to be very promising.

But why was I, like many other investors, fooled so easily? My lack of experience might have come into play at the time, but I had already spent a long time buying and selling altcoins, and getting into early projects and launches.
I realized it was the absence of a service that allowed me to differentiate between risky and safe projects to invest in, and a community which could give me advice and information on how to avoid rugpulls. An unbiased third party.

Many investors don’t have the time or money to go through the “learning curve”, and get rugged a dozen times before understanding how the game works. And that is what many ill-intentioned developers rely on to carry out their quick profit schemes. Instead, why isn’t there a place where all new investors can learn the basic ins and outs of DeFi, and even pay for someone to answer the million dollar question: is this project a rug?

That is when I thought of RugCheck. With the time I spent in the DeFi space, I have learned and understood most of what needs to be known to avoid being the victim of a Rug, but I most importantly met a large number of knowledgeable crypto enthusiasts, with whom I have agreed to carry out this ambitious venture.

Our idea is simple: let’s change this industry for the better. In a place where legitimate projects need to bring in more new investors, safety is essential, and having a rug-free environment is necessary for growth.

Rug Check: the service and Platform

Nothing beats simple functionalities. On the RugCheck platform, two actions can be performed:
Submitting a “RugCheck”: filling a 30 second form to our rug-checking team, which will then evaluate whether an up and coming project is a rug or not.
Note: Our team analysis is NOT to be considered financial advice. In addition, we will simply give a report and ratings according to our own methods and analysis. At no point do we claim that we KNOW that a project is safe, or a rug.
Reading previously completed RugCheck reports

In order to access the platform, our users will have to pay a monthly subscription, initially priced at 0.1 BNB for full access to the platform.

In addition to a platform, which is already up and running, our telegram community will serve as a hub for investors to discuss up-and-coming projects, and learn how to avoid rugs on their own.

Rug Check Token ($ARVM) 

$ARVM will be the first utility token that has a use-case TODAY, and includes rewarding tokenomics for holders.
The coin will serve as a currency on the RugCheck platform, in order to:
Pay the monthly subscription to access RugCheck
Pay for Express rugs
Buy our Merch 
Donate to the RugAwareness and RugVendetta Campaigns   
VIP RugCheck features
Paying for ad space on the RugCheck platform

The tokenomics of our token will have a fixed tax of 12%, allocated this way:
4% LP
4% Marketing and Development
4% GiveBack

→ The “Giveback” tokeonomic is a RugCheck innovation. It will be allocated upon community vote to one of these three purposes: BuyBacks, BUSD rewards, or selective holder rewards. Our contract allows us to toggle the BUSD reward function on and off, and buybacks will be carried out manually.

Future plans

Partnership: RugCheck plans to partner with a coin listing platform, the likes of CoinHunt or Coinsniper, and become the main RugChecking service for that platform. Our team is currently in talks with many such platforms, and will be coming out with an official partnership after launch.

Additional services:

RugCheck Pro: Quicker, longer RugCheck reports for a one time fee. Will be available when we fully integrate MetaMask into our platform   

RugSafety Awareness Campaigns: We will carry out campaigns on crypto social media outlets, where we will relay important information on how to avoid rugpulls to large crowds of online investors 

AntiRug EDU campaign: We are working on adding a section to our website where we compile the most important information on how to invest safely on the Smart Chain, how to avoid rugpulls, and even basic information regarding up and coming Smart Chain projects. Examples: how to use and understand BSCScan? How does liquidity pools work? What is the difference between a post-presale launch, and a “fair launch”? Why should legitimate projects NOT renounce ownership of their contract? 

RugVictim Giveaway Campaigns: As part of our GiveBack Tax, we will collect funds and organize lotteries where ex-rug victims will be given prizes. The ex-victims will have to prove that they have been victims of rugs, by sending us the tokens they still hold from a previous rugpull. Winners will be selected randomly.

RugVendetta Campaign:
A team of vigilantes will be commissioned to carry out one specific task: track and report developers who have rugged. There are many ways to find those individuals. Ways we will not share in this whitepaper. But we have our methods, and will carry them out safely
Integration of native currency as a mean of payment for our platform: we are currently in talk with 8pay, the service in charge of our subscription plan, and will hopefully extend our partnership with them in order to accept payments in $ARVM

All links:

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