Rugsafe: A multichain protocol for recovering from and defending against Rug Pulls
Jovonni L. Pharr, Jahanzeb M. Hussain

TL;DR
Rugsafe presents a multichain protocol that employs cryptographic and economic mechanisms to recover assets from rug pulls, secure rugged tokens, and incentivize users across different blockchain ecosystems.
Contribution
It introduces a novel multichain system with vaults and anticoins to mitigate rug pull risks and enhance security in cryptocurrency markets.
Findings
Effective asset recovery through vault deposits
Incentivization via anticoins and rewards
Dynamic token supply for stability
Abstract
Rugsafe introduces a comprehensive protocol aimed at mitigating the risks of rug pulls in the cryptocurrency ecosystem. By utilizing cryptographic security measures and economic incentives, the protocol provides a secure multichain system for recovering assets and transforming rugged tokens into opportunities and rewards. Foundational to Rugsafe are specialized vaults where rugged tokens can be securely deposited, and anticoin tokens are issued as receipts. These anticoins are designed to be inversely pegged to the price movement of the underlying rugged token. Users can utilize these anticoins within the ecosystem or choose to burn them, further securing the protocol and earning additional rewards. The supply of the native Rugsafe token is dynamically adjusted based on the volume, value, and activity of rugged tokens, ensuring stability and resilience. By depositing rugged tokens into…
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Taxonomy
TopicsBlockchain Technology Applications and Security · Digital Platforms and Economics · Economic theories and models
