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 organization that the project describes as a leading company in that field. The project's mission is to make the blockchain safer by increasing user safety, awareness, and literacy against fraud. Scamfari collects addresses of scammers, phishing sites, and fraudulent blockchain projects while rewarding community members for their reporting efforts. The project states that verification relies on authoritative data sources, real-time tools, and multi-layered review by experts and data providers. 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 August 10, 2023. 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
• Circulating Supply: 0 SCM per the registry; the project self-reports 10,500,000,000 SCM (10.5% of total supply).
• Launch Date: 2023-08-10
• Category: Ethereum Ecosystem, Cybersecurity
• Official Website: https://scamfari.com/
• Explorer: etherscan.io
• Whitepaper/Docs: https://hapi-one.gitbook.io/scamfari/scamfari-keep-track-of-your-submissions
• Source Code: https://github.com/HAPIprotocol
• Official Channels: https://twitter.com/i_am_hapi_one and https://t.me/hapiHF

Who created ScamFari token (SCM)?

The project does not publicly identify individual creators; its strength derives from organizational support through the HAPI Foundation, which provides the cybersecurity expertise and infrastructure underpinning the platform. The HAPI team initiated Scamfari to combat fraud in the crypto space, with the goal of engaging the community in reporting fraudulent wallets. The project was created in response to the growing threat of fraud within the cryptocurrency ecosystem. The HAPI Foundation gives the project 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. The project states that verification relies on authoritative data sources, real-time tools, and multi-layered review by experts and data providers; the accuracy of user-submitted reports remains central to the platform's value.

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 recognized cybersecurity authority. The platform includes a public leaderboard (TOP of active users) that displays active reporters' nicknames, adding a gamification element to participation. 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. SCM is used to reward community members after their submitted reports pass validation, with submissions and rewards managed on-chain. The token can also be utilized for creating research tasks for researchers on the platform. 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. Verification involves collaboration with experts and data providers. 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. The project released its whitepaper, documentation, and token materials in multiple languages as part of its community-engagement efforts. The project launched on August 10, 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. 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. Cross-check the contract address on the official block explorer (etherscan.io/token/0x8353b92201f19b4812eee32efd325f7ede123718) and consult the project's documentation at hapi-one.gitbook.io/scamfari before interacting. 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.

Risks and considerations

SCM, like other crypto assets, is subject to price volatility, and its value can fluctuate significantly with market conditions. Regulatory policies for crypto assets vary by jurisdiction and may change, which can affect access to the token or the platform. Technical risks include smart contract vulnerabilities and the security of wallets and connected services. The project's reliance on user-submitted reports also means that the accuracy of those reports is central to its value proposition, and the project states that it addresses this through authoritative data sources, real-time tools, and multi-layered review by experts and data providers. These points describe risks and the project's own stated approach; they are not assurances of outcomes.