Core Ignition Drop Claiming Guide

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 The Core Ignition Drop, which started the rewards claim on June 10, 2024, allows Coretoshis (Core Community) to unlock incentives for their contributions and engagement in the Core Blockchain. The Incentives claimed by the participating community are based on their activities up from the day they join the program until the snapshot is taken. In this article, I will discuss how to participate in the Core Ignition Drop, its benefits, and more. What is Core Ignition? Core ignition is an incentive program developed by the Core Foundation to jumpstart the growth of the DeFi ecosystem on Core Blockchain, the program started on March 11th, 2024, and will continue for six months, providing ample time for users to participate and reap the benefits, rewarding the community for their contributions to the network. By participating, users can earn rewards while simultaneously helping to fuel the growth and adoption of the Core ecosystem. The Core Ignition Program is for both ecosystem users and We
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SatoshiCoreSwap: A Dex on Core Chain Allegedly Rugpull

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 SatoshiCoreSwap, one of the decentralized exchanges (DEX) built on the Core Blockchain offers users a way to trade various cryptocurrencies without the need for a centralized intermediary. However, on Monday night 15 May 2023, the platform allegedly conducted a rugpull,  worth 220 Eth causing users to lose their investment. 

A rug pull is a fraudulent practice where the creators of a decentralized platform suddenly pull liquidity from the platform,  causing the value of the tokens on the platform to plummet. In a rugpull, the creators of the platform typically sell their tokens at a high price, leaving investors with worthless tokens.

In the case of SatoshiCoreSwap, a transaction on the exchange remove all the staking funds in one fell swoop and bridged 220 ETH ($385,000) then transfers were executed using Tornado Cash, a privacy tool used for transaction obfuscation which is usually used by rugpulls to remain anonymous according to Documenting Core one of the Twitter handle, who promoted SatoshiCoreSwap.

 However, SatoshiCoreSwap in its response to the rug pull allegation stated the rumor is not true, and claims that they were facing some difficulties during the Dex upgrade to a multichain contract and it is now completed.

 The incident served as a stark reminder of the risks associated with investing in decentralized platforms, particularly those that are relatively new and untested.

Investors in decentralized platforms should always exercise caution and conduct thorough due diligence before investing their funds.  They should also be aware of the risks associated with investing in decentralized platforms,  including the risk of rugpulls,  scams,  and other fraudulent activities.



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