DappBay will send users warning about scams by putting up a red alarm.
On Thursday, the BNB Chain blog announced that the crypto market now has a new platform called DappBay, which will find new Web3 projects.
This new platform anchored on the BNB chain has a feature called “Red Alarm” that will warn users if a project is likely to be a scam or a “rug-pull.”
DappBay has a great tool that helps users determine if there are any high-risk, rug-pull projects on the market. This tool looks at the risks of a project and tells users whether or not they should put their hard-earned money into that coin or project.
Red Alarm also lets users know if the code or smart contract has any logical flaws. Users need to put the code for the smart contract into the Red Alarm feature, and then it will figure out if there are any problems with the contract.
Gwendolyn Regina disclosed that DappBay would help the community rank the best Web3 projects. The platform makes decisions based on information about the market.
“Most importantly, the Red Alarm feature helps users stay one step ahead of scammers. The system warns in real time of potential risks associated with the projects so that the community can make smart investment decisions.“
Developers of DApps can put their projects on DappBay to see how well they’re performing. Also, users can now see real-time project rankings based on market data and learn about market trends.
This project was a much-needed feature in the space since most projects are launched to scam new investors. DappBay will solve this problem by giving new users the information they need to know if a project is worth investing in or not.
What is DappBay
DappBay is a hub for decentralized applications on the BNB Chain ecosystem. It gives users the tools to navigate the space more safely. For example, red Alarm is an easy-to-use tool on DappBay that scans contracts for high-risk projects. This helps protect their investments.
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