Topic: How do you make sure a projects funds are safe? - page 2. (Read 929 times)
No one can be sure the project funds will be safe, a lot of them scam by selling all their coins make softrug when the price starts to rise. But we can trust projects that have passed the audit obtained from reputable auditors such as certix. the possibility that a project will be scam after being audited by certix will be small.
the first is the contract address, it must be thoroughly examined, the next is to make sure to choose an ico that already has an exchange so that it can really be trusted. because we can sell on the exchange.
that's a simple tip from me good luck
that's a simple tip from me good luck
Many projects within this bull market dip had seen their team run away. These are projects already listed on top exchanges but no more communication with the investors and holders on their social channels. Some of the team members had left the project for new one without hiding this from the public.
Yes and some just disappear without notice. There are also teams who hire some PhD, call that person a team member, and when the fundraising is over you out of a sudden see the person disappear from the TG channel. A few weeks afterwards the core team announces that after some trouble the PhD had to leave the team for a better future of the whole project. Of course... They just pay those guys to lend them their academic title and then say goodbye.
Many projects within this bull market dip had seen their team run away. These are projects already listed on top exchanges but no more communication with the investors and holders on their social channels. Some of the team members had left the project for new one without hiding this from the public.
that's what happens a lot in the case of new projects like that. We are like returning to 2018 which will see many successful projects in sales but running away from the community and investors.we have seen many such cases in the past. and I think it will continue to repeat itself in the future.
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Actually it is not easy to choose a good project, but I will look at the smart contract and whether TVL will be locked for a long time and other thing is SAFU, some investors in the BSC network use this system to increase new investor confidence but there is no guarantee of profit in investing because we do not know what the developers will do in the future and stay DYOR mate
It may be difficult to secure funds in the custody of project team members as most of the times, they are anonymous. The solution to secure project funds is for the community of such project must hold project team members accountable for all their actions and sanction should be melted out where and when there is default! Another solution may be multi sign access to fund by team members and community and trusted escrow as well!
Hey everyone, How do you verify that a projects funds will not be stolen by the devs? Many projects hold ICO's or some other sort of sale to raise money for development and many have turned out to be scams where the dev steals the money. mWhat are you looking for to verify that they won't run away with the cash?
The team is the main key to find out if the project is legit or scam, if the team is clear then next you have to find out the background of the team, experience is the key to project success.Next is the progress made, whether the project follows the roadmap or not, if everything goes according to plan, most likely the project is legit, then you just need to monitor what the team is doing, if there are suspicious signs you can get out faster. I've done this method many times and the results are very good.
Hey everyone,
How do you verify that a projects funds will not be stolen by the devs? Many projects hold ICO's or some other sort of sale to raise money for development and many have turned out to be scams where the dev steals the money.
What are you looking for to verify that they won't run away with the cash?
Any ideas on how a project can build trust with the community on this topic?
What would you like to see DAO projects do in the future that would help build trust and make sure funds are secure from theft?
For me my reference was go to there Website and try to search their groups if they are truly Exist. And make sure that they started already their projects and if they really legit. How do you verify that a projects funds will not be stolen by the devs? Many projects hold ICO's or some other sort of sale to raise money for development and many have turned out to be scams where the dev steals the money.
What are you looking for to verify that they won't run away with the cash?
Any ideas on how a project can build trust with the community on this topic?
What would you like to see DAO projects do in the future that would help build trust and make sure funds are secure from theft?
Any ideas on how a project can build trust with the community on this topic?
It is true that the main task for projects is to build a strong community and make as many people aware of your project as possible. To have such a loyal community, devs should always show their work and achievements, give bonuses for community members, offer different competitions to advertise your product and encourage people.
I always do careful research and here it is what I am focused on. First of all I investigate the idea of the project and its docs, then I overview the team members (their portfolio) and I also check if any “whales” are going to invest in it. Secondly, I find out about marketing campaigns and social media. Also I get know if there is a big community and there are many people who trust it and want to invest.
Hey everyone,
How do you verify that a projects funds will not be stolen by the devs? Many projects hold ICO's or some other sort of sale to raise money for development and many have turned out to be scams where the dev steals the money.
What are you looking for to verify that they won't run away with the cash?
Any ideas on how a project can build trust with the community on this topic?
What would you like to see DAO projects do in the future that would help build trust and make sure funds are secure from theft?
There is no way to verify that your funds are safe if they are in someone else's custody. The safest investment is minable cryptos like 0xMR and Raven where there is no team wallet to exit scam or rug-pull with. How do you verify that a projects funds will not be stolen by the devs? Many projects hold ICO's or some other sort of sale to raise money for development and many have turned out to be scams where the dev steals the money.
What are you looking for to verify that they won't run away with the cash?
Any ideas on how a project can build trust with the community on this topic?
What would you like to see DAO projects do in the future that would help build trust and make sure funds are secure from theft?
but if the team is Professional and has good historical record of launching successful projects, the project is backed by strong community and in case of DEFI it should have Audit certificate as well as backed by well known insurance company then to some extent you should not much worry about security of funds but still no guarantee.
There is always no guarantee for the safety of our funds since we analyze them visually only. I mean we can't check the company office or see the team member directly. The description of the team members from a crypto project can be manipulated, which means it is written with fake information. So, there is still a chance of losing our money here. However, with all those analyses, we have done our best to avoid scammers. Those ways truly minimize the possibility of scammers deceiving us.Hey everyone,
How do you verify that a projects funds will not be stolen by the devs? Many projects hold ICO's or some other sort of sale to raise money for development and many have turned out to be scams where the dev steals the money.
What are you looking for to verify that they won't run away with the cash?
Any ideas on how a project can build trust with the community on this topic?
What would you like to see DAO projects do in the future that would help build trust and make sure funds are secure from theft?
I've been exit scammed and rug-pulled by devs several times so now so I only invest in mineable projects with no dev wallet, like Raven and 0xMonero. Those are the safest options. How do you verify that a projects funds will not be stolen by the devs? Many projects hold ICO's or some other sort of sale to raise money for development and many have turned out to be scams where the dev steals the money.
What are you looking for to verify that they won't run away with the cash?
Any ideas on how a project can build trust with the community on this topic?
What would you like to see DAO projects do in the future that would help build trust and make sure funds are secure from theft?
there is no guarantee it will be safe. what we can do before investing is, we really know what we invest with. what I mean is, you need to do all the research you need. such as finding the background of the CEO and team, as well as how to develop the project in the future. however, there is no guarantee that your funds are safe.
It is true that nobody can guarantee that your funds are safe but if the team is Professional and has good historical record of launching successful projects, the project is backed by strong community and in case of DEFI it should have Audit certificate as well as backed by well known insurance company then to some extent you should not much worry about security of funds but still no guarantee.
Hey everyone,
How do you verify that a projects funds will not be stolen by the devs? Many projects hold ICO's or some other sort of sale to raise money for development and many have turned out to be scams where the dev steals the money.
What are you looking for to verify that they won't run away with the cash?
Any ideas on how a project can build trust with the community on this topic?
What would you like to see DAO projects do in the future that would help build trust and make sure funds are secure from theft?
How do you verify that a projects funds will not be stolen by the devs? Many projects hold ICO's or some other sort of sale to raise money for development and many have turned out to be scams where the dev steals the money.
What are you looking for to verify that they won't run away with the cash?
Any ideas on how a project can build trust with the community on this topic?
What would you like to see DAO projects do in the future that would help build trust and make sure funds are secure from theft?
This is the risk that we have to take all investments have no guaranteed return even a well establish company or Cryptocurrencies suffered losses or go bankrupt, you can lessen or minimize your potential losses by not investing in ICO because they are unregulated and doing research on the people behind the project, and following if they are making progress on their roadmap.
project team Check the project developers and people related to the project, whether there are legitimate developers and a trustworthy team behind them.
Community building and management A truly safe and reliable project team will have managers in the community to deal with some problems at any time, and to promote and maintain their own projects.
Before investing in a project, understand and study the project itself, study its roadmap, and reduce investment risk losses as much as possible.
Community building and management A truly safe and reliable project team will have managers in the community to deal with some problems at any time, and to promote and maintain their own projects.
Before investing in a project, understand and study the project itself, study its roadmap, and reduce investment risk losses as much as possible.
There are many projects having great goals on their whitepaper but it doesn't reflect what they did. Check what progress they have reached and the possibility to continue it in the future. If you think it is only applicable in the beginning, while hard to reach the final goal, you are better to not join it. They just try to attract people to invest their funds on thei initial sales.
Having a great white paper does not mean that they will be successful and if you look in the past there were projects that looked genuine but they were not able to deliver what they set out even after collecting millions and the investors are the losers while the developers run away with the collected money even though they did not do anything and that is the risk you need to understand when you are investing in any project. 
In addition, I also saw the prospects of the project, if the goals and objectives are good then it will also affect the results.
Be careful to analyze it, it is probably well written on the whitepaper but cannot be applied in fact. There are many projects having great goals on their whitepaper but it doesn't reflect what they did. Check what progress they have reached and the possibility to continue it in the future. If you think it is only applicable in the beginning, while hard to reach the final goal, you are better to not join it. They just try to attract people to invest their funds on thei initial sales.
The first thing I see of a project is the team that handles it. Here there is a team that is already known to be good and reliable. In addition, I also saw the prospects of the project, if the goals and objectives are good then it will also affect the results. It is indeed difficult to choose a good project because at this time a lot of new projects have sprung up with their respective advantages. Personally I'm also still learning to choose a good project by learning from my own previous experience. Choosing a project should not be arbitrary as long as, we have to really observe and analyze the project properly, the example of the team, the goals of the project and also the progress of the project whether it is good or not. Make sure everything is good so we can get good projects too.
Easy, you invest in mineable projects like 0xMR and RVN that have no dev wallet, no IDO, and no pre-mine. That way the devs can't dump on you or exit scam.
Not all projects are like 0xMR and RVN. Most projects have dev wallets because there is a token allocation for developers. It will be difficult to join only on the project with the criteria you said before. The reasonable solution is below:1. Know the team members of the projects in detail
2. Make sure the projects have trusted partnerships
3. Take a look at their community
4. Have convincing whitepaper, including a clear roadmap
5. No bad issues related to the team members or the project itself
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