Welcome to this article! This is an introduction to StaySAFU, the first article on our Medium page.
Together fighting scam …
Facing thousands of shitcoins and scams on the BNB Chain, DeFi remains a wild place to invest in. 73% of the tokens listed on PancakeSwap turn out to be scams. That’s why we built StaySAFU: to help crypto investors who want to secure their investments, discover safe projects, and minimize their risks.
Helping BNB Chain investors to secure their investments
StaySAFU was first designed as a DeFi Tool which soon gathered millions of scans and 200,000 monthly users. We strongly believe everyone should be able to invest safely in this ecosystem.
Our tool is a scanner enabling investors to analyze and evaluate a token’s safety in a matter of seconds. Through a deep study of its liquidities, its smart-contract code, holders, and several other parameters we can determine the probability of a token being a scam.
Thanks to huge affluence, the data gathered gives the opportunity to our users to identify new tokens at their launch, in real-time, and to invest safely.
A security label for project founders
To keep fighting for security and spotting scams, StaySAFU soon became a security label for projects themselves, which benefit from the visibility of our tool for their audits and KYCs.
The audits & KYC performed by StaySAFU are always helpful: we spot more than 750 vulnerabilities in the smart contracts we audited. Our team places itself as a partner of the companies which wish to audit their token and puts forward the secure side of their token while recommending improvements and optimizations if necessary. The audits ensure more commitment and trust for communities and mostly consist of a complete review of the code of the project and its team for legal and tech purposes.
To ensure even more security for investors, we decided to set a strong KYC (Know your Customer) process to review a team’s background for a NFT / DeFi project. The idea is to check a team’s identity and take all necessary precautions to avoid any type of rug pull or scam by the founders using legal processes. This gives the opportunity to dissuade founders to try and scam users and lead investigations in case of such problems.