Binance Smart Chain has developed an affordable transaction blockchain network that works in conjunction with active Ethereum applications, such as MetaMask wallet. Due to the numerous features, it has to offer, investors and crypto developers are increasingly using BSC. This is leading to an upsurge in daily-released projects. However, the popularity means scammers are also looking to cash in on naive and unknowing investors.
Token developers use decentralized exchanges, such as PancakeSwap, to produce liquidity and allow investors to buy and sell tokens immediately. However, scammers are also developing fake coins and adding them to high-value liquidity pools to lure unsuspecting investors. When this happens, the liquidity pool’s value grows. When they feel they’ve had enough value, these scammers pull out all the liquidity pool funds, and investors have tokens they can’t do anything with.
When liquidity is locked, malicious token developers are unable to get away with these scams. They renounce any withdrawal rights because the liquidity pool tokens go into a time-lock smart contract. It’s a win-win for investors and developers. It allows developers to convey that a project is legit.
How Unilocker Helps To Combat Scam Tokens
Many platforms have begun to offer this liquidity locking concept, and the newest offering is Unilocker that has brought its liquidity locking platform to Binance Smart Chain. Unilocker which started with the Ethereum network is the most exclusive liquidity locker, preferred by all the high-value tokens to lock their liquidity. Some of its popular features which set it apart are:
Quick-Lock Interface
Although there are numerous BSC lockers to choose from, most are not user-friendly with their "difficult to navigate" sites. Unicrypt is a prime example with its clunk interface that makes the worthwhile features so worthless.
This is what Unilocker makes so different. In the grand scheme of things, Unilocker is an extremely efficient and intelligent platform. Determining the lock amount or lock period which used to be so frustrating to figure out - is possible with one-click buttons and intuitive sliders. This "quick-select" interface is available not only for locking but also for managing the locks.
Additional Management Features
Unilocker allows investors to do many things, including but not limited to:
- Efficiently lock liquidity pool (LP) tokens
- Add extra LP tokens to the lock
- Withdraw LP tokens upon the lock duration completion
- Extending a lock duration
- Transferring the lock ownership
Developers can create a verifiable lock certificate that can be shared on the token website or social media - to share the lock amount and duration with the investors and instill the right confidence.
In The End…
With BSC’s growth, it’s knocked down the entry wall for groundbreaking crypto projects to enter the market. This has led to an increase in crypto investment opportunities for anyone looking to invest. Still, scammers have invaded the blockchain network to scam investors out of their money.
Investors want assurances that their projects and liquidity locking give them that confidence they need. Unilocker defies many well-known platforms, such as Unicrypt, through its innovative features and affordable pricing. It’s managed to eliminate barriers crypto project developers faced to become a force to be reckoned with. It’s managed to ensure liquidity locking is something everybody uses.