United States, July 12, 2021 /AlexaBlockchain/ – Binance Smart Chain (BSC) asset manager mudra has launched a new innovative and affordable liquidity locker.
Mudra is an innovative BSC asset manager, credited with several ground-breaking BSC investments and development products.
The Problem of Rug pull
There are many digital asset exchanges, such as UniSwap, generating market liquidity for investors to buy and sell tokens without causing drastic price fluctuations. However, such liquidity pools have been targeted by unscrupulous crypto developers using a fraudulent practice called the ‘rug pull.’
A rug pull is a fraudulent practice in the cryptocurrency industry where crypto developers abandon a project and run away with investors’ funds. The result is that investors are left with practically worthless coins.
It has now become a common problem in the crypto space. Last month, developers of Polywhale Finance, a leading yield farm on the Polygon network, abandoned the project taking away investor’s fund worth over $1 million.
Solving The “Rug Pull” Liquidity Problem
Liquidity locking is a way of preventing the rug pull, so it is something that investors are keen to have. Therefore, liquidity locking gives coins legitimacy and investors an element of security. Common issues with liquidity locking are that it comes with high costs and complex processes.
The New Mudra Liquidity Locker
The new Mudra liquidity locker has plenty of features and is more affordable than other BSC liquidity lockers. It allow users to lock their liquidity instantly by transferring tokens into Mudra’s time-lock contract.