It is gravely serious situation when a project is “rugged” or deemed a scam. (See what we did with that pun?)
Our team has a process to determine what projects we will list in our graves and tombs. Some tokens are clearly a rugged/scammed project, some are dead due to developer inactivity or exploits from hackers.
Our team will consult a variety of elements as well as some trusted 3rd parties and partners (stay tuned) to know what projects to list as we know the act of declaring a token dead is a quite a serious statement. A few considerations our team has:
● How long has the project been deemed “dead”
● GitHub activity and existence of rug-features such as migration codes, minting features, etc.;
● Price action of the token, volume, liquidity, and on-chain information (Some price action is quite normal, and we will work diligently to discern whether people are simple FUDding projects that are very much alive); and
● Community engagement and requests (Eventually token holders will be able to vote to pronounce projects dead. We will call these funeral services, kinda morbid we know.)
● Post-Mortem analysis and 3rd Party audits on hacks, rug pulls and scams from trusted advisors. (stay tuned for more information regarding this)
Why does your project have "rug" in the title? Isn't that bad form?
We chose the project name from a few others. Sure, there may have been a better name. There are certainly worse ones. We needed to capture both our undead/resurrection theme and remain clear about our mission to restore value to victims of rug pulls.
We believe the transparency and hard work our team displays every day can give users confidence that we are accomplishing our mission: restoring value to victims of rug pulls, scams and hacks.
As our ecosystem grows, our associated projects will enjoy the benefit of naming conventions that are a bit more acceptable but the RugZombie project likely will remain as it is until we are ready to rebrand (if at all).
Doesn't your project inversely promote scams or rugged tokens?
Not really. The reality is that due to our tokenomics and thoughtful selection process, hackers, bad devs and the like are unlikely to benefit substantially (if at all) from our project.
The scammed tokens are generally used to verify you have rugged and do not require investors to own more than one of the token. This will hardly have any effect on most markets that have millions in circulation. In general, those who have not been scammed by certain projects will have little interest in that particular NFT as anything more than a collectible.
Can I make a suggestion?
Sure! Our team is very interested to hear from our community of grave-diggers (that's you). Please see our suggestion box to make your thoughts known, or just hit us up in the telegram chat.
Here are a few guidelines:
suggested rugged token must actually be a dead/rugged project
1000+ holder of the token
Smart Contracts or Token Contract is safe for interaction
A contactable community
Please keep in mind that each grave emits ZMBE and the cost of hiring NFT artists is not cheap. Graves need to be of a certain quality for us to consider them.