🔓Security

Introduction

Investing in cryptocurrencies can be a risky business, but taking the necessary precautions can help mitigate these risks. This guide will provide information on the security measures and risks associated with the WAIFU token.

Security Measures

WAIFU is a decentralized protocol built on the Ethereum blockchain. Decentralization ensures that there is no central authority controlling the protocol, making it less susceptible to attacks such as hacking and censorship.

Smart Contract Risks

Smart contracts are self-executing codes that operate autonomously on the blockchain. Although they are designed to be secure, there are still some risks associated with them. Some of these risks include bugs in the code, malicious actors exploiting vulnerabilities, and human error in the code.

Liquidity Lock

WAIFU was stealth launched with liquidity bootstrapped by the team. To ensure the integrity of the liquidity, it is first locked for one month and will be re-locked after the trial period. The current liquidity lock is yet to be announced.

Renounced Ownership

Renouncing ownership means that investors can have confidence that the team won't change the tokenomics midway through trading. This feature will not be immediately available, as the team may do some modifications before locking the protocol into place. As a utility coin, renouncing ownership will only be considered after the protocol has reached a certain level of maturity.

Scams/Phishing Attempts/Social Engineering/Impersonation

Unfortunately, the world of crypto can sometimes be malicious, and investors need to be aware of a plethora of potential scams. The WAIFU team advises investors never to share their seed phrase with anyone online. Beware of scammers sharing fake contract addresses or pretending to be developers of this project, mods, or some kind of support team. Honeypots are fake contracts that may or may not look similar to the official contract, but where the scammers disable all sells and run away with your money. Investors should only trust information from the official domain. The WAIFUAI team is not liable for any kind of scam the investors falls into, outside of the WAIFUAI ecosystem.

Conclusion

Investing in WAIFU comes with risks, but the team has taken the necessary measures to ensure the safety and integrity of the protocol. By being aware of the risks associated with cryptocurrencies and taking the necessary precautions, investors can help mitigate these risks and potentially earn a profit.