July 1, 2022

BOSTON, MA, Feb. 23, 2022 (GLOBE NEWSWIRE) — Last year, the media latched onto the story of Squid Game Token, a token on the Binance Smart Chain (BSC) that flew to a staggering multi-million dollar marketcap before the developers locked the trades and stole the liquidity, in a move known colloquially as a “rug pull.” To onlookers, the crime seemed extraordinary, but to those well-acquainted with the ecosystem, it was anything but. 

In the world of decentralized finance (DeFi), rugpulls and similar “Boiler Room” style scams such as honeypots are somewhat commonplace and are treated almost like an occupational hazard to be avoided; indeed, one can even purchase their own honeypot scam on Fiverr for as little as $15. However, one team of developers, recognizing the danger posed by these criminal elements, has decided to take matters into their own hands with a new project called NeverRug, launching on the BSC on March 1st.

The vision of NeverRug may be grand: to provide a regulating force within the DeFi ecosystem and rid it of fraud to restore investor confidence and foster growth; however, their two-prong approach is simple. 

A Capital “C” Community Token

The first part is building a foundation of education, rooted around a community–something that is well-underway, according to developer and team spokesman Kevin Glynn, who comes to the project from a background in financial technology. 

“We previously did a quiet test-launch of the NeverRug…

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