ScamFari token PriceSCM

What is ScamFari token (SCM)?

ScamFari token (SCM) is the native utility token of Scamfari, a crowd-sourcing platform operated under the HAPI Foundation, a cybersecurity and cryptocurrency security company. The project's mission is to make the blockchain safer and more secure by increasing user safety, awareness, and literacy against potential fraud. Scamfari collects addresses of scammers, phishing sites, and fraudulent blockchain projects while rewarding community members for their reporting efforts. The platform uses authoritative data sources and advanced tools with real-time access to verify submitted data, and it brings its entire operation on-chain to ensure transparency of submissions and rewards. SCM is an ERC-20 token built on the Ethereum blockchain. It has a total and maximum supply of 100,000,000,000 SCM. The token launched on Aug. 9, 2023, and the project continues to refine its verification processes and expand its reporting categories.

Key Specifications & Tokenomics

• Name: ScamFari token
• Ticker/Symbol: SCM
• Blockchain: Ethereum
• Token Standard: ERC-20
• Smart Contract Address: 0x8353b92201f19B4812EeE32EFd325f7EDe123718
• Decimal Places: 18
• Total Supply: 100,000,000,000 SCM
• Max Supply: 100,000,000,000 SCM
• Self-Reported Circulating Supply: 10.5B SCM (10.5%)
• Launch Date: Aug. 9, 2023
• Category: Ethereum Ecosystem, Cybersecurity
• Official Website: https://scamfari.com/
• Explorer: etherscan.io

Who created ScamFari token (SCM)?

ScamFari token is developed and backed by the HAPI Foundation, described as a leading cybersecurity and cryptocurrency security company. The HAPI team initiated Scamfari to combat fraud in the crypto space, with the goal of engaging the community in reporting fraudulent wallets and countering terrorist financing. The project was created in response to the growing threat of fraud within the cryptocurrency ecosystem, and the HAPI Foundation provides the cybersecurity expertise and infrastructure that underpins the platform. Detailed public information about individual team members is currently limited, but the project's association with the HAPI Foundation provides a foundation of cybersecurity authority and experience in the blockchain security sector.

How does ScamFari token (SCM) work?

Scamfari operates as a crowd-sourcing platform where users report fraudulent or malicious projects through the official website. To submit a report, users create a nickname that is displayed on the TOP of active users, choose a category from the provided options, and submit the report with accompanying proof. The available report categories include Social Media Scammer, Fraudulent Website, and Scam Project or Rugpull. Once a submission is validated, users receive rewards for their contributions. The platform integrates blockchain technology and smart contracts to ensure transparency, privacy, and secure rewards, bringing the entire operation on-chain. Verification relies on authoritative data sources and advanced tools with real-time access, combined with multi-layered verification involving collaboration from experts and data providers, ensuring the accuracy of submitted data.

What makes ScamFari token (SCM) unique and valuable?

Scamfari distinguishes itself through several core attributes. Community vigilance is central to its design, harnessing user reports for a safer ecosystem. The platform employs multi-layered verification through collaboration with experts and data providers. Its blockchain backbone provides transparency, integrity, and automated rewards. The project aligns with Web3 principles including transparency, privacy, and user-centricity. It covers varied scam categories to address diverse malicious activities. Privacy focus is maintained through secure reporting via wallets and blockchain. The platform emphasizes adaptive improvement, evolving its verification methods over time. Additionally, the project benefits from the expertise of the HAPI Foundation, a recognised cybersecurity authority. These elements combine to create a platform designed to combat fraud through community participation and blockchain-based transparency.

What is ScamFari token (SCM) used for?

SCM serves multiple utility functions within the Scamfari ecosystem. The token can be used to make rank payments, allowing users to enhance their status within the community and potentially earn higher incentives for accurate scam reporting. SCM can also be utilised for creating research tasks for researchers on the platform, with 10% of the tokens used for tasks collected by the platform and allocated for token burning, which may contribute to token scarcity. Additionally, the token serves as a reward mechanism from partner ecosystems, where other ecosystems can allocate rewards in the form of Scamfari tokens to individuals who uncover scammers within their networks. This fosters collaboration and promotes wider adoption of the platform across different blockchain communities.

How Is the ScamFari token (SCM) ecosystem developing?

The Scamfari ecosystem is developing across several fronts. Expansion of engagement focuses on growing the user community for more impactful reporting. Advanced verification aims to enhance verification methods with advanced technologies. Diverse scam coverage involves adding new scam categories to address evolving threats. Blockchain integration explores deeper integration with blockchain capabilities. Partnerships involve collaborating with cybersecurity firms and regulatory bodies. Educational outreach includes creating resources to raise awareness about scams. Enhanced rewards focus on improving incentives to encourage participation. User experience improvements continuously refine the platform's usability. Data insights offer analytics on reported scam trends. Regulatory compliance ensures adherence to relevant regulations. The project launched on Aug. 9, 2023, and continues to refine its processes based on user feedback and emerging fraud tactics.

How to mine ScamFari token (SCM)?

SCM is not obtained through traditional mining, as it is an ERC-20 token built on the Ethereum blockchain rather than a mineable proof-of-work cryptocurrency. Instead, users earn SCM tokens by participating in the Scamfari platform's reporting system. Community members submit reports on fraudulent or malicious projects, and once those submissions are validated, users receive rewards in SCM. Users can also enhance their rewards through rank payments using SCM tokens. Additionally, partner ecosystems can allocate SCM rewards to individuals who uncover scammers within their networks. The token's utility is therefore tied to active participation in the platform's mission of identifying and reporting crypto scams, rather than computational mining processes.

How to keep your ScamFari token (SCM) Coin safe?

Since SCM is an ERC-20 token on Ethereum, standard security practices for Ethereum-based assets apply. Store your SCM in a reputable wallet that supports ERC-20 tokens, such as hardware wallets for maximum security or well-established software wallets for convenience. Never share your private keys or seed phrase with anyone, and be cautious of phishing attempts that may impersonate the Scamfari platform or related services. Verify the official contract address before interacting with any token. Enable two-factor authentication where available. When using the Scamfari platform itself, connect only through the official website and ensure your browser and wallet software are up to date. Given the project's focus on scam prevention, users should remain especially vigilant against fraudulent sites claiming to be affiliated with Scamfari or the HAPI Foundation.