Dex screens are allegedly facing criticism to promote scam tokens, claiming that it prefer the listing paid on legitimate projects.
The dex screinner was once a Go-to Tool to track decentralized exchange activity. Traders trusted to find new tokens in many blockchain networks, analyze the charts and get early access to the tokens that it is not yet widely recognized.
But recently, things have taken a quick U-turn. Instead of a platform for search, it is turning into a hotspot for scammers. At least, they are claiming something in the industry.
The chief of the product business operating in the coinbase seems to be disappointed with what the chief connor Grogan, DEX screenser has become. According to him, the forum has adopted the “dark pattern” by promoting scams and prioritizing the fraud listing paid on valid projects.
“I don’t think I have ever seen such a widely used website Stear in dark patterns like Darkskiner. Almost the entire front page is promoted a bundled scam, and if you have a real coin Let’s discover CA [contract address]The scam is actively extended to the tokens. They are making $ 200m/YR from this. ,
Conore gogan
Built by Alexandre Biny and Andreas Dygues in 2021, Dex Screener started as a data analytics platform for decentralized finance. It tracks live token prices, liquidity, and historical charts in networks such as Solana, Etharium, Base and many others. Users can nominate tokens such as Sol (Coke), Coca-Cola Knocoff, Robinhood (Hood) after the trading app, and Harry Pothheads (Pot), which is on its logo The Famous Vizard.
At the top of promoting tokens on the website, dex screinner is also earning a lot of money from fees. According to 0xngmi, the founder of Defilama, Dex Screenner Was pulling In a moment in a moment a day by charging the teams to branding and update the information of your token.
The business model seems to have paid. As data Dex screinner earned more than $ 50 million in fees from Hashed Show from Crypto Venture Fund, while Defilama Reports The platform is producing more than $ 250 million annually.
The dex screenser platform quickly became a favorite among traders in search of fresh opportunities. It should be one in the decentralized finance place, especially for those who are trying to see the next big thing, before it hits centralized exchanges.
But the claim of Gogan shows how the platform operates. They mean that the dex screener is not only showing market data – it is affecting what users see. And, according to him, it is promoting scam tokens ahead of legitimate people.
Best in business
So, is dexscinner really full of scams? Well, it really depends on how you define it. The platform tokens allow the creators to pay for publicized listings, pushing their projects to the top of the search results and homeplaces recommendations.
As a press time, dex screenser Note That “people looking for an advertising solution require optimization for your accurate needs”, it will have to be prepared to spend $ 100,000 as well as “users and companies launch their campaigns. To be able to be able to pass the verification process including KYC.
In theory, it should help in promising new projects. But in practice, it appears to have a different story. Many of these promoted tokens are the best less-quality-and the worst scam.
The irony is that it is not new to Crypto. The industry has long faced issues with evil actors, using promotion paid to uncontrollable investors. For example, scammers often take advantage of Google advertisements, which are involved in legitimate projects to steal money from users.
The concern with dex screinner is how aggressive and wider it has become. When searching for tokens from your contract address, fake listing can appear to be valid before one. This pose a danger, especially for new people or who are easily caught in FOMO, which rely on the data of the dex screenser to make quick decisions.
Grogan admitted that the dex screenser has “the best technology in business”, saying that he hopes that the stage would reconsider its strategy. While dex screens seem effective for analytics traders, high number of suspicious advertisements create concern about whether the platform is still living up to its original goal of serving customers.
Crypto.news reached the Dex Screenner team several times, but did not listen back to this public time. We will once update the article and if we will get the response.
