DYOR Token is a decentralized cryptocurrency that seeks to empower a crypto community to avoid fraudulent activities in the crypto market. DYOR is the acronym of Do Your Own Research. The DYOR community seeks to empower traders by educating them about the legitimacy of any cryptocurrency project. Also, the community aims to teach traders about rugpulls and honeypots. Rugpulls happen when crypto projects are created and abruptly shut down to scam people, whereas honeypots are flawed smart contracts created to drain target's cryptocurrency.
Cryptocurrency has been one hot-red commodity in recent years and has attracted thousands of traders. Due to its popularity, cryptocurrency has attracted many scammers and fraudulent projects. Furthermore, cryptocurrency is easy to design, and people create a cryptocurrency with the sole motive of scamming traders. The whitepaper suggests DYOR seeks to solve the problem by investigating new projects, coins, and tokens. The project aims to spread as much information as possible to educate traders about identifying projects with good or bad intentions.
Moreover, DYOR aims to be a one-stop shop for a crypto project background check. The DYOR community has a discord channel where everyone can bring tokens or coins for scam-proof reviews. Everyone interested in the crypto world can join the track and participate in the DYOR movement.
Some of the key points of DYOR seek to be the following:
DYOR is the token of the community and can be used for accessing DYOR tools to avoid crypto scams. Every DYOR transaction is subjected to 10% transaction fees. Out of 10%, 7% is added to the liquidity pool, and the remaining 3% is redistributed among token holders.
