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RugDoc Review
Polar DANO appears to be a fork of Ring Financial where you have to create “nodes” using the native token. Proceeds from the node creation are then managed by the protocol to be invested into several DeFi platforms that will produce an optimal return as stated in their documentations. DeFi platforms to be invested in are decided by the node users through votes. Each user who created nodes are then eligible to a certain reward per day as native tokens. So far, there seems to be no other fees to be noted aside from the reward claiming fee. (Nodes are not actual blockchain nodes that hold data, but more like a seat in an investment pool)
- 🚨 Max holder is the “distribution pool” [0x…a053] which is simply a user wallet. At the time of this review it has >58% of the total supply [see holders].
- ⚠️ Not KYC’d with RugDoc
- ⚠️ Liquidity is not locked with RugDoc
- ⚠️ No multisig, we highly recommend the project to use one with community members or reliable 3rd parties as an approver due to the said governance risk.
- ⚠️ No reputable audits as of date
Having said the above, we are classifying this as Not Eligible as we recommend these kind of complex projects to pass reputable audits and KYC verifications as there is a risk of governance mishandling. Before investing, we also recommend users to conduct their own due diligence checks.
*Paid Advertisement. Not financial advice. RugDoc is not responsible for the projects showcased here. DYOR and ape safu.
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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.