Through Increased Transparency and Information.
DeFi Skeptic is a platform that seeks to reduce fraud while increasing transparency in the DeFi space by providing a platform to highlight vetted projects in addition to various products and services as well as acquiring strategic partnerships who support the same vision/mission.
Raleigh, June 28, 2022 (GLOBE NEWSWIRE) — In any developing system or world, the ingress of scammers, swindlers, and fraudsters is inevitable. The same goes for the decentralized world. In 2021 alone, malicious actors stole over $10 billion from DeFi users through various scams, vulnerabilities, and exploits. This gap between legitimate projects and DeFi users was the reason DeFi Skeptic was created.
DeFi Skeptic – Making DeFi Space Safer and Secure
DeFi Skeptic was founded with an aim to reduce the amount of fraud in the DeFi space while providing developers and users a platform to acquire legitimate and vetted products and services tailored to meet every need. This ecosystem of products and services is powered by Skeptic Token (SKP), a multi-use, liquidity backed utility token on the Binance Smart Chain.
DeFi Skeptic is the ultimate project aiding the DeFi community in various ways. One way it does this is by interviewing project developers and assessing the entire project. Not all projects that apply to be vetted will pass. DeFi Skeptic does a preliminary review to see if the project meets the basic criteria to be vetted. Upon completion of the preliminary review a formal vetting session is conducted. DeFi Skeptic evaluates each aspect of the project and after a thorough review, and only if the project passes, the project is placed on the list of DeFi Skeptic vetted projects. This service is the cornerstone of DeFi Skeptic and is built to bridge the gap between DeFi users and legitimate projects.
Partners and Affiliates
DeFi Skeptic puts a high amount of focus on strategic partnerships with entities that share their mission of bettering the DeFi space. One recent partnership is with Dappd LLC, a software development company specializing in DeFi/Blockchain Technology. Their services include custom smart contract creation, presales, web3 bots, dApps, websites, auditing, and blockchain consulting/development. DeFi Skeptic strategically sourced this partnerships as it supports the DeFi Skeptic ecosystem and their mission of bettering DeFi, specifically in this case by ethical coding practices.
DeFi Skeptic is also partnered with various service providers such as Launchpad’s, information databases, KYC providers etc. DeFi Skeptic believes that to impact a space as big as DeFi, power in numbers far outweighs a solo effort. DeFi Skeptic believes in trust, honesty, and transparency and those that believe in the same are ideal candidates DeFi Skeptic seeks to work with.
DeFi Developer and User Focused Products and Services
DeFi Skeptic believes that starting at the beginning is one key way to positively impact the DeFi space. This is why DeFi Skeptic has decided to provide various developer and user services making both sides journey seamless and effortless. DeFi Skeptic provides various services such as contract creation, audits, vetting, KYC and many more. But one unique and beneficial service which is new to the DeFi Space is Arbitrage as a Service (AaaS)
Arbitrage as a Service allows the project team to stabilize their liquidity pools while directing the profit back into their project as appose to having it lost to external arbitrage traders. Normally, a price difference between exchanges or liquidity pools would be taken advantage of by an arbitrage trader who would buy the cheap side and sell the high side, resulting in a profit. This profit comes at a loss to the project. AaaS eliminates this problem by running an automated arbitrage bot on the projects token while directing the profit back to the project for the project to use for various purposes. The best part is it’s free to use as there is no signup fee and no recurring fee. This cutting edge service is offered by DeFi Skeptic in collaboration with their partners at Dappd.
DeFi Skeptic Ecosystem
Within the DeFi Skeptic ecosystem, Skeptic Token (SKP) will serve as a utility token powering the products and services offered by DeFi Skeptic. The company plans on launching this token on Binance Smart Chain Network (BSC) June 29th, 2022.
Moreover, DeFi Skeptic will release a limited edition NFT series titled “First Skeptics.” The holder of these NFTs will receive a variety of perks inside the DeFi Skeptic ecosystem. The NFTs and Tokens can be converted for one another at any time by the user, allowing the user to decide what aspect of the ecosystem they want to use. This innovative feature allows DeFi users to place importance on a specific aspect while not restricting themselves to one or the other.