It’s already been recommended to increase data showed about tokens but I would like to one up that request with even more ideas.
I think in order to be listed in the DEX a project should HAVE to include a link to their website and link to their whitepaper. On top of that once a day some sort of script should run to verify that the website is up and running. If a website is down for more than 30 days it can automatically be removed from the DEX.
In the event a project changes its website, they should be allowed to change the details of that data for their token.
Doing things this way serves in several different ways.
First it automatically removes tokens of dead projects or scams that go bust as eventually the websites stop working.
Second to that it makes it so users can easily learn about any token listed in the DEX with relative ease. This allows for more users to learn about and discover more projects merely by checking out the various trades taking place without the need for them to use a search engine or be given an airdrop to really learn about a token.
Third and finally it also provides a unique opportunity for project creators that actually don’t want their tokens to be listed in exchanges to still use Waves platform. Hard as it may be for some to imagine non-tradable tokens or currencies - not all projects want to have their tokens traded. Some projects ONLY want their tokens to be accessed through a specific ecosystems - specifically tokens created for sales platforms. For legal reasons in some areas not being listed on an exchange brings a project a step closer to not being considered a security.
White paper and websites are pretty expensive. Certainly, those wealthy in finances and technical allies will benefit from your proposed requirements. There’s also a problem with the sinister coin creators who purposely produce and give coins that can never be traded for anything beneficial. You think cursed coins of mockery that are impossible to sell or trade should be advocated? Do you think only those who are distributing coins to prevent the recipient from earning a profit deserve success? We have to thwart only those who are purposely shilling worthless coins as genuine investments?
I think you misunderstood some of what I proposed. I am not at all suggesting a change in how things are currenly removed. I very much agree with reputation based on community votes and several other measures waves has in place, I am suggesting this in addition to those things.
Also if one has the ability to create a token, they should have the ability to at the very least toss up a wordpress site explain the intended usage. So I don’t think “websites are pretty expensive” is a valid assessment. It costs nothing to create a wordpress page except perhaps the $1 a month required to host i, and even then there are plenty of hosts that allow wordpress sites for free.
As for whiepaper’s - no they are not expensive at all. Satoshi tossed one up that cost nothing. It doesn’t have to be some long winded professionally looking whitepaper… just SOMETHING that explains the goal of the token. 100% guaranteed if a token does not have a website and whietpaper it will be nothing more than a pump and dump. Why else could it exist without those things? What would be the point of any token if there is no public explainaion of why it exiss except to try to be worth something quickly so the owner can profit from creating a worthless token?
A token cannot be killed only after 30 days of website inactivity.
“coinopsy” adopts these rules:
Ranked below 1000 * for over 3 months.
Volume under $ 1000 USD for 3 months.
Website dead and no trace of updates.
No nodes or other similar problems.
These rules seem to become increasingly famous and respected.
Certainly for us something should be changed, I remember that here many users have just appeared in this world and to die a token only after a month is really too much. So people run away somewhere else.
Not enough tokenrating? I would say that this is enough, but if you want to add more meat to the fire go ahead.