The Inverse Crypto Lounge
The Binance Smart Chain is not the safest place for investors and especially for crypto beginners. There are a lot of fraudulent contracts deployed everyday and the most common ones are either “Honeypots” or contracts with a huge imbalance in token distribution.
What is a “Honeypot” contract?
The classic “Honeypot” is a smart contract that allows investors to buy into the token, but it doesn’t allow investors to sell their aquired tokens, which results in a profit for the contract deployer and an instant loss for all investors.
We the Inverse Protocol solved this problem with our “Rug Checker” on our tools app (https://tools.inverse-protocol.com/tokens) where you can insert any contract and check if it’s a “Honeypot”. This is a very useful tool for every investor, because it’ll protect you of major losses.
What does imblance in token distribution mean?
The most common way of a so called “Rugpull” is that the owners of the smart contract give themselves a huge portion of the token supply. In this case those people will issue their token with a Presale or Fair Launch and only add a small friction of earned BNB to the liquidity and then they will do the following:
They will only add for example 10% of the total token supply to the liqudity on Pancakeswap — in general this is no issue, but they will prepare a wallet with more then 10% of the token supply and once the token launches on Pancakeswap they will dump their tokens into the market leaving all investors with no liqudity left in the liquidity pool and with major losses in USD.
How can you avoid participating in those projects and save your capital?
Firstly we recommend using our tools app. Before u make any investment decision make sure to use our “Rug Checker” to check the contact. For sure this is not enough to be 100% safe.
For this reason we decided to create “The Inverse Crypto Lounge”.
What is “The Inverse Crypto Lounge” ?
We will rebrand our Mainchat on Telegram to “The Inverse Crypto Lounge”. The Inverse Crypto Lounge will be a safe place for Investors. We will host daily AMA’s where users can name any token their interested in and we will fully analyze this token and tell you if it’s safe to invest into it or not.
How will we analyze projects?
We will start an AMA every day for approximately one hour where any member of the lounge can name tokens.
We will then proceed with the following analytics:
- Pasting the contract into our “Rug Checker” to get initial data about the smart contract of the project
- Analyzing the token distribution and token locks
- Looking into the website of the project
- Checking the Roadmap and Whitepaper of the project
- Checking the background of the founder / team of the project
- Checking if they did a KYC and an Audit
- Doing a short technical analysis of the token chart if the project is already launched
This will give all potential investors more insights and knowledge about the project and after our analysis they can decide if they still want to invest into this project.
AMA’s with other Projects
As the group grow with our daily AMA’s, where we fully analyze projects our community is interesting in, we will also expand to hosting AMA’s with other upcoming/running projects. This will allow us to grow our community even more and give good projects more awareness. In those AMA’s we will go through all of our basic checks to make sure that the project is safe. We will also only accept projects with KYC + Audit, because the Inverse Crypto Lounge should be a safe place for crypto inverstors and we don’t want to advertise projects with insuffient security measurements.
How will this benefit $INVERSE?
Firstly we will gain a lot more attention from the whole BSC space, because people will join our lounge to get information about the latest projects and we will advertise $INVERSE heavily in there.
Projects that we accept for AMA’s have to pay us a certain BUSD amount + they have to purchase 50% of the price in $INVERSE. This will further boost the growth of our token, because we will raise the AMA price as we gain more followers.
We will also rebrand our Announcement Channel to a “Call Channel” where we accept projects for money and then we will post them in the Call Channel. This allows us to save money for Marketing Campaigns and therefore to sustain the longterm existens of $INVERSE.
When will the Inverse Crypto Lounge start?
The Inverse Crypto Lounge will start on Monday 05/30/2022 7PM CEST (UTC+2) with our first AMA where we analyze projects that our community is interested in. If there is no interest from the community for a certain project then we will pick a project from the Pinksale site to analyze.
New Inverse Protocol Website just launched!
We put a lot of effort into designing and coding a new website for our Inverse Protocol Community.
Please go ahead and check it out: