Four. Meme, a platform launched by BNB Chain, is going to launch a new token “Protection” based on modern technology. The main purpose behind this launch is to make the issuance of tokens smoother and prevent people from any confusion.
In the modern world, scammers and fraudsters are everywhere and constantly looking for people to deceive. Four. Meme understood this insecurity and decided to take some useful steps to stop this flow. This system will remove or lock duplicate or similar names and tickers to ensure the authenticity and fairness of a project when it gains traction.
New Smart Protection Mechanism to Lock Token Identity during Bonding Curve
Under this system, when a token crosses the figure of 100 holders in its binding curve phase, its ticker and name will be locked to only its native token. At the core, this system will help users make the right decision about the selection of the right token to protect them from any scam or fraud. After the selected range of 100 holders, the protection system will activate automatically for 72 hours to lock the ticker and name only for the native token.
During this process, the system monitors the holders’ count only before the official launch of the token. Once the token is launched, the system will stop monitoring the holder numbers. On the other hand, there is an exceptional case; if the token is already activated during the bonding, then it will protect the token even after launch for 72 hours.
Unique Token Identity System Prevents Duplicate Names and Tickers
As per details share by Four.Meme, no one will be allowed to create a token with the same name or ticker for now. This will safeguard the direction of users to the right path, preventing them from diversions. In this way, the system will protect the users from any breaches of idea or concealing the ticker of other users.
In a nutshell, this development will protect the ownership of users in an authentic sense and enable them to make an unbreakable or long-lasting trust in users. This system makes the creation environment cleaner, more original, and transparent for unique identity projects.
Source: https://blockchainreporter.net/bnb-chains-four-meme-launches-protection-token-to-combat-fraud-and-duplicates/
