In-depth analysis of the Fair3 Foundation mechanism: How does the first "decentralized insurance" in the cryptocurrency industry form a buying flywheel?

Blockbeats
Blockbeats
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Article Source: Fair3


In the world of the crypto industry, scams are not new. But in the past two years, the speed of "running away", the clever method, and the large number of victims have still refreshed the public's perception of the word "Rug Pull". From the VC-backed project Movement, to the meme coin $YZY supported by celebrity Kanye West, to the Solana project AQUA, which has recently quietly disappeared, investors' funds have flowed away like an open faucet, leaving behind a sense of chicken feathers and powerlessness.


According to RootData data, there have been more than 260 Rug incidents in the Web3 market since 2024, involving more than $500 million. More importantly, most of these victims do not have any form of protection mechanism. Blockchain emphasizes "code is law", but once it involves scenarios such as abandonment by the project party, cancellation of social media accounts, and non-open source of smart...

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