Meet Scamfari, the First Project on WhiteBIT Launchpad

WhiteBIT
Published 16 August 2023
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Meet Scamfari, the First Project on WhiteBIT Launchpad

Content

The first voting on WhiteBIT Launchpad is right around the corner, and it’s time to uncover the specifics of the first project. After careful consideration, we’ve chosen Scamfari as our candidate. We resonated with the project’s ideas and mission, but the final decision is yours. Let’s go!

Introducing Scamfari in a Nutshell

Scamfari, created by the HAPI Foundation*, is a crowdsourcing platform that unites the cryptocurrency community in promoting security awareness within the blockchain realm. The goal of the project is to collect a database of crypto wallets of fraudsters and wallets involved in raising funds for criminal or terrorist activities. Credibility is maintained through dependable sources and real-time tools.

*HAPI Foundation is a blockchain cybersecurity services company.

How Does Scamfari Work?

Scamfari works on the principles of cooperation and transparency. The project invites users worldwide to actively contribute to detecting and reporting fraud, phishing sites, and fraudulent blockchain projects.

Crowd-Sourced Vigilance

Scamfari leverages the collective efforts of the crypto community. Users can report suspicious activity and projects through a convenient website.

Categorization

To simplify the reporting process, users categorize the nature of the scam, choosing from options such as “Social Media Scammer,” “Fraudulent Website,” or “Scam Project/Rug Pull.”

Submission and Verification

Reports are submitted with evidence. The Scamfari team uses advanced tools and real-time data sources to verify the accuracy of the information provided.

On-Chain Transparency

Applying the principles of Web3 technology, Scamfari takes transparency to the next level by logging submissions and rewards on the blockchain.

Rewards and Recognition

Realizing that community participation is the cornerstone of success, Scamfari rewards users for their validated submissions. This encourages an active and vigilant user base.

Tokenomics of SCM

SCM is Scamfari’s native asset. The asset empowers the Scamfari community and rewards active users of the platform for their expertise in detecting fraud. Let’s get to know the project asset better through its tokenomics. A total supply of SCM is 100 000 000 000 of SCM tokens. This amount was distributed in the necessary proportions among the project’s funds and initiatives. The project allocates 10% of the total amount of SCM for distribution within WhiteBIT Launchpad. 20% of this amount will be credited to participants as part of the initial distribution. Six months later, 80% of the tokens will begin to accrue to participants over a 12-month period. Learn more about Scamfari tokenomics in the table.

Category Percentage Unlocking Vesting Schedule Token Allocation
Public sale 10% 20% 80%/12 months 10 000 000 000
Public sale (Security Round) 0,5% 20% 80%/12 months 500 000 000
Initial Liquidity 5% 100% 5 000 000 000
Marketing 5.5% 10% 80%/24 months 5 500 000 000
Platform Rewards 30% 0% 1% monthly 30 000 000 000
Company 15% 0% 10% annually 15 000 000 000
Team 5% 0% 10% annually 5 000 000 000
Listings 10% 0% 10 000 000 000
Security Fund 3% 0% 3 000 000 000
Retrodrop 5% n/a 5 000 000 000
Ecosystem Fund 11% 0% 11 000 000 000

Scamfari invites everyone interested in the crypto ecosystem to join forces to reduce the risk of fraud in the blockchain space. In an environment where trust is paramount, Scamfari stands as an example of the collective collaboration and technological innovation that underpins the sustainability of the crypto community.