QuillCheck, the renowned due diligence tool by QuillAudits, has significantly expanded its crypto defense mechanisms. It has now extended its protective reach to BaseChain. This offers crypto investors and enthusiasts a new layer of security against the threat of scams and rug pulls in Decentralized Finance (DeFi).
QuillCheck is a tool that helps you avoid getting scammed when you invest in cryptocurrency. Originally focusing on Ethereum, BSC, and Polygon, QuillCheck offers thorough token code and market analysis, ensuring informed investment decisions.
The platform’s expansion to BaseChain is a strategic move in response to the growing diversity and complexity of the crypto ecosystem. BaseChain, a well-known blockchain for its scalability for DApps and Crypto Tokens, now benefits from QuillCheck’s robust features, including:
- Honeypot Detection: QuillCheck’s advanced algorithms simulate transactions to detect and flag honeypots, preventing users from falling into scammers’ traps.
- Ownership Permissions: Analyzes the token owner’s special permissions like minting, blacklisting, whitelisting, token tax modification, and transfer pausing, helping users assess potential misuse of ownership power.
- Contract Dependencies: Identifies engagements with external or proxy contracts, indicating risks and potential for unexpected behavior changes.
- Market-Based Insights: This includes assessments of token liquidity, distribution among holders, and the stability of liquidity pools, which is crucial for judging the risk of market manipulations like rug pulls.
QuillCheck now covers tokens on BaseChain, letting you assess the risks of newer, untested crypto tokens before you invest. The tool’s interface remains user-friendly and suitable for crypto beginners as well as seasoned traders. It is complemented by interactive charts and risk indicators that make the evaluation process both straightforward and comprehensive.
QuillCheck is your Protector against these Rugpulls. It doesn’t just sniff them out, it raises the alarm with lightning-fast notifications on Telegram, Twitter, and Discord. Get the info you need to dodge these financial disasters! Don’t wait until it’s too late. Use QuillCheck today and protect your crypto future!
Moreover, QuillCheck has an API that allows other platforms to check listings and transactions in real-time to make sure they are safe. This is helpful for marketplaces like DEXs, blockchain explorers, and launchpads because it helps them avoid scams and build trust with their users. It’s especially useful for developers who want to make sure their platform is secure.
In a statement from Preetam Rao, the CEO of QuillAudits, the parent company of QuillCheck, he affirms, “As the CEO of Web3 CyberSecurity Company, I am very aware of the growing dangers in the cryptocurrency world. This year alone, the industry has witnessed a huge loss of $41.66 million due to rug pull and crypto scams. Our integration with BaseChain is not just a technological advance but a strategic move that underscores our commitment to enhancing security. This will help people invest in crypto more confidently, knowing they have the latest protections against scams. Our goal? To make the crypto world a place everyone can trust.”
For a hands-on guide on safeguarding your investments in Crypto Tokens on BaseChain using QuillCheck, don’t miss our detailed tutorial video.
Follow along to learn how to navigate the platform, analyze token contracts, and steer clear of potential scams and rug pulls. Check out the video now and take control of your crypto security with QuillCheck!
