ZilSwap "Registered Token"

General Chat Hive Mind
1

The establishment of ZilSwap DEx has invited dev to create and given the community the opportunity to contribute/utilize the service through the purchase of the token. However, just like with anything there are a few bad apples. These bad apple dev have created tokens and gone through the process of getting it registered just to gain the trust of community members at a rudimental level and vanish.

As-is, there are projects such as KKZ which are obvious rug pull/scam but still remain a registered tokens. These tokens are still being bought by community members (DYOR folks). Below are additional requirements that I think will help future members.

In addition to current requirements, “registered tokens” must meet the following requirements after registration.

  1. Have an offical group chat either TG or Discord.
  2. Dev must provide project updates once a week in the group. If there are no new developments, dev must be actively helping.

Every three months, same time as the ZWAP allocation vote, “registered token” projects which haven’t met these requirements will be voted out.

Four (4) projects will be added to the list and the two (2) with the highest vote over 10% will be removed.

If there are less than 4 projects nominated, only the highest one (1) over 30% will be removed.

If only one project is nominated, the vote will be set up as “For/Against”. Over 50% “For” means the project will be removed.

The votes have to meet the quorum. Projects that have been removed from registered tokens will never be able to be registered again.

Being registered is a privilege not a right.

Share your thoughts in the comments. Thanks

5 Likes
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Sounds good to me. You have my support.

3 Likes
3

Good Idea, Go Ahead with it

2 Likes
4

Yes and yes.

These are obviously scams if you did 2 seconds of DD, but not everyone does, and we deserve to shield our community - adding some kind of label would give some binary reputability.

There is a point to be made about how uniswap operates, but I agree that ZWAP holders should vote on new “Registered Tokens” I like “ZWAP Community Approved Tokens”.

1 Like
5

I agree with this on so many levels. I even think more requirements should be added as well.

6

I love the Idea, we need to get more Strict with New Tokens, we need to see a plan for these proposals and verify that these are serious projects, I will even add that the new tokens should have a Website, and should get community approval (Voting) in order to get their project listed. we cannot allow a bunch of new tokens to sprung and allow people to steal your hard earn money like had happened to so many people on Uniswap and Etherum network

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Agreed. Krazy kewl zil, sergs, shark, andpotentially bolt are all scams. Zilliqa is better then this, once the eth bridge is out I will hate for newbies to lose everything. As a community we need to stand up. Lets get this proposal up and running. Share in telegram and lets see the consensus. Tha k you.

1 Like