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RugDoc: 2022 And Beyond

As we head on to another year full of blessings and surprises, we promise to be more determined, passionate, and driven to give you only the best services.
RugDoc 2022 And Beyond

Last year, RugDoc made a significant impact in making DeFi a safer, more accessible space for crypto users. This year, we will continue to achieve greater heights and create more meaningful endeavors.

With this, RugDoc proudly presents its Roadmap for the year 2022. This roadmap includes our website revamp, the Mandolin project, new partnerships, development of new tools, KYC programs, continuing of our reviews, and more secret juiciness.

Let’s dive right in!

Website Revamp 

Starting from humble beginnings in the form of the Google sheet, we have swiftly evolved into the current website as you see now – However like DeFi, the industry moves very fast and we also need to adapt and make sure we stay ahead of the curve. We are currently working on a website revamp to ensure that we have a better user experience whilst continuing to build on our strong library of reviews and developing new tools for the everyday DeFi investor.

‘Mandolin’ 

We can’t say much about this project yet, but what we can safely say is that this has a very strong unique feature that no other DeFi project currently has. And no, it’s not a DAO, not a Token and definitely not an NFT. Like what our free reviews and DeFi tools accomplish, We’re looking to build and provide a service to the community that gives an immense amount of value for investors at minimal costs. This project is many months in the making and is officially a RugDoc.io product.

Partnerships

We have teased around new partnerships in our ‘RugDoc – The Glow up’ article, however now’s the time to skim the surface a little bit about what we’re up to. The Rug Doctor has been off out into Crypto conventions in the last 8 months, spreading the word of the lor-… spreading the word around our DeFi based project and have had extreme interest from the likes of Bancor, Binance Smart Chain and Particle B. We can’t divulge much about what these partnerships entail, but ensure that it will be related to DeFi safety, again focusing on our everyday investor and hopefully arming them with information to make financial decisions safely.

Tools, Tools, Tools

You asked, and you have received. We have developed three key DeFi tools in 2021 which have helped countless users prevent getting honey potted (Link to honeypot checker), Emergency withdraw their funds when a project’s frontend UI is down (Link to emergency withdraw). And lastly split an LP easily with a few clicks (Link to LP breaker). These are currently and will remain to be free, and on top of that we are aiming to develop more tools in 2022 to support the everyday DeFi investor in the cryptocurrency space.

We’re open to suggestions, so please contact us via Twitter or message an Admin on Telegram regarding any tools you’d like to see.

KYC

The KYC program allows project developers the option to partake in our extensive vetting process in order to prove ownership and hold a semblance of accountability for the developer should any malicious actions occur. While this is not a guarantee for safety, it does act as an effective deterrent, with only one project (CryptoYieldFocus) Confirming to have acted maliciously out of the 67 projects we have KYC’ed so far since launching. 

This is a current standing of 1.5% of all KYC’ed projects.

As part of our guidelines we have submitted the CYF scammer’s details to the local authorities to handle and have subsequently checked in regarding updates. On top of that we have also reached out to projects such as Frost Finance and Dragons Lair to develop a compensation plan and this was executed and distributed back in September 2021.

We are exceptionally vocal about the fact that Nothing in DeFi is safe, however services such as the KYC program have clear benefits and have helped in securing and keeping DeFi a little bit safer. It’s also worth noting that the KYC program does not guarantee project longevity, or guarantee positive price action for the project. RugDoc is not responsible for the performance of KYC’ed projects and as this is DeFi, a number of these projects will inevitably, not survive and our main focus is ensuring that the everyday investor is not caught in a deliberate scam.

Continue our reviews

Currently standing at 2,500 reviews so far, we have expanded our range of reviews of Farms into tokens, exchanges, OHM forks, P2E games and NFT’s, spanning across 24 networks including Solana, Iotex Avalanche and Cardano. We will continue to provide support on any and all EVM compatible chains as well as unique networks such as Cardano and Solana when possible.

Merch

During our attendance at dCentralcon and similar conventions we had a lot of interest for our Merch and we will be looking to expand on our current range as well as provide some support for our partner projects. Stay tuned!

To New Beginnings

This 2022, we will be surely picking up things where we left them. The past year was such an incredible and eventful year for all of us. And this year, things will get better and bigger. As we head on to another year full of blessings and surprises, we promise to be more determined, passionate, and driven to give you only the best services.

Of course, RugDoc will always stay true to its main goal of giving the crypto world a safer, more accessible DeFi space.

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Disclaimer: This is done with our best knowledge and effort, nothing can be known for certain – always DYOR and risk management. This is NOT financial advice. Use the information presented here to inform your own decisions. Referral links may be included on any outbound link.

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  • How can I request for an update to my review?

🟢 For owners who have made impactful changes and would like an update to their farm review:

1️⃣ Use #update at @RugDocChat with your description and proof of changes and it will be forwarded to our scanners.

2️⃣ This does not guarantee a change in your review.

3️⃣ Owners who have difficulty solving the issues can consider our Consultation Package – please contact @BaymaxCrypto on Telegram to discuss.

  • What do the risk ratings mean?

Our mission here at RugDoc is to screen for hard rug code that results in 100% theft of ALL underlying funds for ALL participants.

This is the ONE part of the due diligence process that most people cannot simply do on their own as it costs thousands of dollars to hire a senior solidity developer to look over a farm for safety.

A project coin with terrible code can go up in price, and a project with good code and a good team can also go down in price.

Do NOT use our ratings to refer to your likelihood in making money if you invest in the project. They are ONLY in reference to code safety.

Everything else beyond code safety is YOUR responsibility to go do research on. We just make sure the casino you’re betting in won’t rob you before you even get to place a bet.

Our reviews for projects are organized into a few colors.

🟢 Least Risk
These projects are the least likely to hard or soft rug. Usually reserved for cornerstone projects of an ecosystem where it makes no financial sense for them to rug in any manner as they make more money just being legit.

🔵 Low Risk
These projects are usually established projects in an ecosystem that have a track record of success or have KYC’d to us or other authoritative sources in the real world. As a result, it is extremely unlikely for them to soft rug or hard rug their projects. The projects can still fail and the token price can go down, but usually more as a result of natural market forces.

⚪️ Some Risk
This is the default rating for projects with unknown teams but have code that is unlikely to have hard rug risk. Since the team is unknown and doesn’t have a track record of success, it’s entirely possible that they may try to soft rug by dumping tokens, abandoning the project, etc. Even a last minute contract swap to a malicious contract is possible. The only thing that is unlikely is a complete hard rug as long as you are 100% sure you deposit into the contract we review.

🟠 Medium Risk
Similar to Some Risk, but the underlying code itself is custom enough or complex enough that it warrants an elevated risk rating that needs deeper research. Make sure you read every point presented to make sure you’re comfortable with that before entering. Still unlikely to hard rug, but more chances of custom code behaving incorrectly and causing other issues.

🔴 High Risk
Project contains code or practices that are HIGHLY LIKELY to lead to catastrophic losses as they are right now. Make sure you read the description carefully as we will always warn what these issues are. If you see the words Hard Rug anywhere in the review, STAY FAR AWAY!

⚫️ Not Eligible
We reserve the right to not review exceedingly complex projects that would require tens of thousands of dollars of senior security analyst man hours. Typically these are projects that deal with leverage, lending, options, derivatives, and anything that is overly complex and which requires tons of peer reviews and audits from top audit companies.