Blog entry by ema hossain
'Rugpulling' is an emerging scam in which criminally motivated cryptocurrency developers attack liquidity pools. These liquidity pools, such as the ones created on exchanges like Uniswap, enable crypto investors to trade tokens without generating major price changes. Since they contain a significant amount of funds that were committed by the token developers and promoters, they are regarded as prime targets for rugpull scammers.
The rugpull scam involves the launch and aggressive marketing of newly new tokens. Once they achieve a certain amount of investment, the unethical creators drain the tokens' liquidity pool, leaving investors with worthless tokens.
To guard against such fraudulent techniques, investors have pushed for liquidity locking, a safeguard that is gaining popularity. Liquidity locking protects investors, lends legitimacy to coins, and enhances developer reputation.
Of course, liquidity locking has drawbacks, including its cost and complexity. To address these challenges, Unilocker has launched a next-generation liquidity locker technology.
The Unilocker platform is loaded with high-quality features and is more affordable than competing liquidity lockers. The time-lock contract enables you to rapidly secure your liquidity from scammers. Previously, token developers struggled to determine the duration and quantity of the liquidity lock. That is no longer a problem - with a straightforward user interface featuring one-click buttons and sliders, selecting the period and the amount is extremely simple.
After the lock is created, lock certificates are issued and can be sent to investors. This system instills a high level of confidence in investors' investments.
Unilocker offers superior features and a high level of confidence at an affordable price. Management of a lock is as simple as locking it - you can extend, withdraw, increase, and transfer locks in a couple of minutes. Please visit https://unilocker.app to know more.