What is a rugpull? Part II

In Part I we spoke of the aspects of the rugpull. Bad actors, nefarious devs and liquidity issues on decentralized exchanges being the large players. We ended by asking the question, what can be done to prevent this situation? The first step in preventing rugpulls is educated decision-making and research-based analysis of your investments. Little is better than doing your own research (DYOR) and choosing your investments based on a successful formula. This all sounds great on paper, but for many of us, we do not have the time or ability to perform the thorough vetting of every new token that offers often very-high and desirable returns. This feeling of not enough time is amplified by the fear of missing out (FOMO) on the gains to be had on new, growing but often dangerous networks such as the Binance Smart Chain. A form of insurance to protect your investments is the clear solution to this problem. Insurance is a tried and true solution to help you sleep better at night. 🍪