A $400 million rug-pull on MonkeyPoxInu. The honeypots… and the pump-and-dumps.
DeFi problems (to put it bluntly) are becoming larger in scope and more frequent in nature, as shown in the chart below which you can view on Comparitech:
Throughout all of it, though, most participants in DeFi would probably agree that there’s been far more talk than action.
It’s time to stop keeping score and start making plays.
If you’re old enough to remember the “I’m a Mac / And I’m a PC” television commercials that ran beginning in 2006, you’ll likely recall the one that implied that Mac computers didn’t get viruses.
The dirty little secret? Macs were vulnerable to viruses, but Apple’s share of the personal computer marketplace was so low in 2006 (just 4.8%) that it wasn’t worth the effort to exploit them.
Today, we know differently.
And the point is that talk is cheap.
When we first conceived of the idea that led to the Bridges Exchange, we did so with a view
towards helping clean up the “Wild West” nature of DeFi. In fact, Bridges is a
first of its kind (although we hope—not the last): it is the first anti-scam,
dividend-paying, decentralized hybrid exchange-aggregator.
We created the Bridges Exchange because “business as usual” in DeFi has meant
nothing more than the proliferation of tokens—and with them—theft. Like others, we’ve grown tired of
seeing honest investors left penniless and innovative developers whose ideas
are copied at will. For DeFi to realize its full potential, it has to evolve
from being a safe haven for scammers to becoming an ecosystem where every
participant has a legitimate chance for financial freedom and security.
Here’s how we did it:
- Public
Listing Criteria: To get
good projects in, we have to keep bad actors out. Bridges has fairly stringent project listing criteria, and
they’re publicly available for all to see.
- Thorough
Vetting Procedures: The
time from application to listing can take several weeks which, while long,
is simply a necessary evil. The reputation of Bridges is only as good as
the last project that we approved for listing, and while we can’t
guarantee positive returns or even complete, 100% safety, we do promise
that our vetting procedures are carefully and thoroughly implemented.
- Requirement
of Innovation: Safety
means different things for different people. For holders, it means the
avoidance of scams, but if you’re the project developer, it means the
protection of innovative ideas. We require that approved projects bring
some form of innovation to the space, and we reject those that are pure
copycats of others’ ideas.
- Anti-Whale Caps: To promote overall stability in the price of Bridge$, the native token of our Exchange, anti-whale caps prevent any single investor from holding more than 1% of the total supply, equal to 1 million tokens.
Regardless of whether you’re a holder or a developer, a novice
participant in DeFi or a seasoned veteran, we invite you to join the mission that Bridges represents and to be part
of the action—and not the talk—about cleaning up DeFi.
You can learn more about the work of Bridges at https://bridges.exchange.