$BOB: 100% protection from rug pulls. Explanation 🔒
$BOB is considered reliable because its developer burned the liquidity provider (LP) tokens after adding 100% of tokens to a decentralized exchange (DEX). Here’s what that means:
Liquidity is locked: after burning LP tokens, no one, including the developer, can withdraw liquidity from the pool. Funds remain in the pool forever 🔥.
- Inability to withdraw funds*: This scheme eliminates the risk of fund withdrawal when developers suddenly remove funds, leaving investors with losses 🚫.
- Price is determined by supply and demand*: without developer control, the token price is determined solely by market forces 📈.
💡 How it works
- LP tokens: When you add liquidity on DEX, you receive LP tokens that confirm you can withdraw your liquidity.
- Burning LP tokens: by burning these tokens, the developer ensures liquidity lock, strengthening investor trust.
🤔 Can more liquidity be added?
Yes! As a permanent holder, you can:
- Add/remove liquidity at any time: you will receive LP tokens and can keep any trading fees you earn 💸.
- Developer LP tokens burned: to confirm the security of BOB, only the developer's LP tokens were burned 🔒