When I check tokens related to $DOGE , I go through these steps, though not always in the same order.
First, I check whether the contract address matches the one published through official channels. Having the same name isn’t enough—there are plenty of copycats with identical names on other chains.
Next, I check for “airdrop claims” using DOGE’s name. If I have to approve something or send funds first to claim it, I stop right there.
Then I check whether the issuance parameters match what’s on-chain. Things like block rewards and total supply can be looked up directly.
Finally, I check whether there are verifiable records to back up the use cases they describe. If all they have are pictures and slogans, I skip it.
This approach won’t protect me from every trap, but it can help me avoid the ones I might otherwise stumble into.
#Dogecoin #Web3
Risk warning: Crypto assets are highly volatile. This article only explains how to verify information.
First, I check whether the contract address matches the one published through official channels. Having the same name isn’t enough—there are plenty of copycats with identical names on other chains.
Next, I check for “airdrop claims” using DOGE’s name. If I have to approve something or send funds first to claim it, I stop right there.
Then I check whether the issuance parameters match what’s on-chain. Things like block rewards and total supply can be looked up directly.
Finally, I check whether there are verifiable records to back up the use cases they describe. If all they have are pictures and slogans, I skip it.
This approach won’t protect me from every trap, but it can help me avoid the ones I might otherwise stumble into.
#Dogecoin #Web3
Risk warning: Crypto assets are highly volatile. This article only explains how to verify information.