New Phone, hu dis? – An Introduction to RugDoc.

If you're new to RugDoc or want to know more about our amazing community-driven group, find your answers in this article!

The RugDoc team is an elite group of trained assa… a group of DeFi veterans focusing on developing tools necessary for DeFi safety, particularly in Farming, Trading as well as building a DeFi Wikipedia to help the community be a little bit of a safer place to invest in. We have turned 7 months old recently and we thought it would be good to just have a refresher of who we are, what we do and what we’re doing here.

RugDoc, a History.

RugDoc started as a lone google sheet that we updated as and when possible and we quickly found out that the Google sheet attracted so much traffic on a daily basis that it crashed, therefore we needed to migrate to the current website which houses the Farm reviews as well as the variety of other services and tools we offer.

Who’s in your team?

Initially we were volunteer led and relied on donations to repay some of the hard work that our very skilled volunteers undertake for completely free on a day to day basis.

However, we have since moved on from this as the demand for a higher level of service and quality was expected from RugDoc. (more on this later) 

We now have team members that look after:

  • Scanning/Farm Support – Looking at a farm contract to establish parameters that may or may not be malicious
  • Community management – Engaging with the RugDoc community in our social channels to educate and assist in their DeFi related queries. 
  • Crisis management – Warn users for potential scams, and assist in ongoing rugs by talking through how emergency withdraw works, for example.
  • Content management – Custom assets and content to supplement the guides and articles we generate, promoting DeFi safety
  • Operational management – General project maintenance, Web development, Farm calendar management

It’s worth noting that the suite of services that we offer to the community are all free of charge, and we have ongoing bounty challenges (Such as the LP lock challenge by Carlos & Butts)  to ensure that the tools we promote are safe to use for the public.

Currently, We have no plans on monetizing usage for these tools.

So if these are free… How do you make money?

You may have noticed dotted around some of our pages are banner ads, available for project owners to advertise with. We are in a very lucky position that we attract thousands of unique visitors a day on our Website and we’re happy for farm owners to showcase a banner ad to generate some awareness for their project. These banner ads are simply ads, and not endorsements or partnerships with those projects unless specifically stated. Please still DYOR and manage your risks effectively.

Aside from the banner ads, we also have the following to supplement our monetization plan which helps keep RugDoc completely free to use for the community:

  • RugDoc Merch – Self explanatory, we have merch (Add Link)
  • Sponsored ads – We offer sponsored shoutouts and posts on Telegram/Twitter for projects.
  • RugDoc Farm support – We offer 1-to-1 private consultations available for farms if they need assistance in troubleshooting their code or how to make their farm safer.
  • FarmDoc – Alpha calls channel where select RugDoc team members will talk through their decision making in relation to trades, farms and market sentiment.

Right, but what’s next?

DeFi moves at an alarmingly fast rate and we’re doing our best to support the community as much as we can. We do have ongoing workstreams which address some of the softer side of DeFi (E.g. community content) as well as tools to further help in farming safely and securely. Here’s a small preview:

  • CodeCat Comics – Our fun, lighthearted comic to highlight some of the key events that happen with RugDoc and DeFi. 
  • Community Outreach – With Avalanche, Apeswap and Paladin as our first three official partners, we’re keen to work with other established brands with similar goals to us.
  • Wiki – Continue expanding and populating our Wiki to supplement the demand for DeFi education

We hope this article clarifies a little bit about who we are. Come and stop by our social channels and say hello!

Stay safe out there,

Limitless

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🟢 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.

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.