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Hundreds of new cryptocurrency tokens are introduced every single day. The blockchain’s decentralized nature has made it easy to launch innovative DeFi projects, and investors have profited handsomely from their success. This popularity, however, has attracted scammers who find it just as simple to carry out a scam project.
In this post, we’ll look at how a new liquidity locker is changing the game by safeguarding the interests of investors.
Token creators must provide liquidity in decentralized exchanges like Uniswap or Pancakeswap so that investors can buy and sell their tokens instantly. Scammers create bogus tokens and add high-value liquidity pools to entice buyers. When investors begin to purchase tokens, the liquidity pool’s value will rise. The developers then withdraw all of the cash from the liquidity pool and flee. The buyers lose all their investment value and are just left with worthless coins. This is the well-known rugpull scam in the crypto world.
Liquidity locking ensures that token developers will not be able to pull off such a trick. The withdrawal rights of the developers are revoked by submitting the liquidity pool coins to a time-lock smart contract. A liquidity locker is useful not only for investors but also for token creators who can convey the project’s legitimacy.
The liquidity locking approach has resulted in a vast number of platforms offering this service. Mudra Liquidity Locker for Binance Smart Chain is the newest contender on the scene. Despite being the market’s newest liquidity locker, Mudra Liquidity Locker is getting excellent reviews. We looked into Mudra closely to unravel the mystery behind the hype:
1. User interface
There are a number of well-established Binance Smart Chain Lockers on the market now, but token developers find it difficult to navigate and use these platforms. Unicrypt and Cryptex, for example, have some useful features but the platform’s user interface is one of the most confusing you’ll ever encounter. In their reviews, users have expressed frustration with their clumsy user interface. Mudra Liquidity Locker has emphasized the developer’s experience by designing a user-friendly interface. Mudra is a highly efficient and intuitive platform thanks to simple but crucial features like being smart enough to distinguish between a token address and an LP address.
2. Locking fee and associated expenses
One of the most significant issues that token developers face is the exorbitant cost of most liquidity lockers. Unicrypt, for example, charges a steep flat fee and requires developers to burn Unicrypt utility tokens, which adds to their costs.
However, if you lock in liquidity with Mudra, you will pay the lowest fee. Furthermore, unlike most platforms, Mudra does not compel developers to use their utility tokens.
3. Additional management services
Mudra Liquidity Locker is the fastest-growing BSC liquidity locker for a reason. Mudra Liquidity Locker allows you to lock liquidity pool tokens in seconds, withdraw them when the lock expires, and add more tokens to the lock. You can also transfer ownership and lengthen the lock without incurring any additional fees.
You can use a QR code to create a verifiable lock certificate that you can distribute on your token website and social media.
Mudra Locker’s strength stems from the Mudra ecosystem as a whole, which includes a number of solutions for both crypto developers (BEP-20 token generator, PancakeSwap configurator) and investors (token research tool, token discovery tool)
Finally, some final thoughts
The rise of blockchain networks such as BSC has reduced the barrier to entry for new crypto projects. As a result, the general public now has access to new cryptocurrency investment opportunities. Rogue developers, on the other hand, have flooded these networks with the intent of launching fraud schemes and stealing money from investors. Liquidity locking is the absolute minimum that today’s investors expect from legitimate projects. Mudra Liquidity Locker has challenged legacy platforms such as Unicrypt with path-breaking features and game-changing pricing. Mudra has reduced the barriers to legitimacy for cryptocurrency project developers and has made liquidity locking affordable and accessible to all. To learn more about Mudra Locker, visit their blog.
