Cryptos, where they offer the chance for larger-than-life legitimate profits, also attract scammers and fraudsters. Early investors take risks by jumping into different crypto launches in hopes of massive gains but also run the risk of finding their money siphoned away with sophisticated backdoors designed into the smart contracts and platforms.

The developers at Uwerx understand this and know that with the freelancing industry expanding at a much higher rate, this is bound to attract investors – investors who need satisfaction and a guarantee of the safety of funds. The platform is offering not one, not two, but three different means of ensuring there is no chance of an exit scam.

Beosin Alert, a dedicated crypto hack, rug pull, and vulnerabilities platform recently published its report on H1 2023 stats, showing that $655.61 million have been lost so far in 2023 to different hacks and issues in Web3.

Of these, $75.8 million are from rug pulls alone. Also known as exit scams, the term refers to the act of pulling a rug from under one’s feet. This is done deliberately by project team members, where they put in a backdoor or other vulnerabilities in their fake project. After creating a marketing hype that attracts investors and early on-borders, they simply walk away with the money, leaving the poor users with worthless tokens – if at all.

The industry has responded with different methods over the years to show their backers that they are not exit scams. Code audits by third parties are the most common, with firms specializing in scrutinizing the lines of codes to find vulnerabilities to patch. Another common method is handing over the controls to the users through a DAO or a variation of such. Lastly, developers also can protect their backers from pump-and-dump schemes by limiting emissions of the team tokens.

It is rare to have 2 of these three in a project. On the other hand, Uwerx offers all three.

Taking into account the number of exit scams occurring in the crypto sphere, the Uwerx developers know that placating backers and users is key. The result is a 3 pronged strategy that gives the project one of the most secure environments for backers.

Take its independent code audits. All of its back coding has gone under not one, but two different ones. Both SolidProof and InterFi Network have given it the all-green.

Then there is the liquidity lock. Initially planned to kick in after the end of its ongoing presale, the team responded to feedback from its users and has decided to implement it early on. In effect, the team tokens will be locked away for 25 years, giving Uwerx the chance to grow and stabilize.

DAOs (Decentralized Autonomous Organizations) let people control their destiny. Uwerx will be running on the same lines. The project team has already announced that they will renounce ownership of the Uwerx smart contracts once it is launched, handing the reins to the users.

In short, the Uwerx developers will have no control or authority,  and neither any access to the funds, both invested and the WERX tokens.

Given that Uwerx is planning to take on major freelancing platforms with its innovative features and a highly reduced fee, it has already attracted gig workers from all over the world.

Its presale stages are being grabbed up faster than anticipated, forcing it to run its stage 5 and adjust its tokenomics to accommodate the influx of backers.

Uwerx is currently trading at $0.05645. In celebration of Uwerx, we are excited to announce a special final bonus of 12.50% on all WERX purchases. On top of the existing 15% bonus, this additional offer is available only until today at 23:59 UTC. Take advantage of this limited-time opportunity!

Don’t miss out on the action as WERX gears up to spring up after launch and make sizable gains. Register in the presale today:
Presale | Telegram | Twitter | Website

The post Why Uwerx (WERX) Can Never Be an Exit Scam appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

234 +