Amid the rise of fraud in the crypto industry, BNB Chain has gathered to help clients identify high-risk projects on its platform.
The smart contract-enabled blockchain developed by the Binance BNB Chain crypto exchange team will now work with DappBay, a decentralized application (DApp) hub and Red Alarm tool. The tool will allow you to scan the blockchain to detect crypto projects with the risk of fraud.
“DappBay is a DApp hub within the BNB Chain ecosystem that provides users with the tools they need to safely navigate the crypto space. The Red Alarm contract scanning tool identifies high-risk projects to help users protect their investments from potential risks.
Company representatives say that DappBay ranks newly launched digital asset projects based on market data so that traders can maximize their investment:
“DappBay selects and ranks recently launched projects based on ‘Fastest User Growth’, ‘Best Tokens’ and ‘Trends’.”
BNB Chain Investment Director Gwendolyn Regina says the goal of the tool is to help traders stay one step ahead of the scammers and protect their investments:
“Using market data, DappBay allows the BNB Chain community to list and rank recently launched projects in the GameFi, DeFi, NFT markets.”
Recently, co-founders Daniel Finlay and Aaron Davis of MetaMask stated that crypto scammers make money on human greed.
Source: Bits
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