There’s an emerging, very powerful, very active blockchain, not exactly an L1 blockchain to be clear, that’s making some people scratch their head.
Base, a Layer-2 scaling solution for Ethereum built by Coinbase, is on the rise, but there a few problems, chief among which is the extremely high percentage of scams.
According to analysis shared by Cointelegraph, 17 percent of tokens on Base are outright scams.
16.9 percent to be exact.
Possible honeypots were found in 121 projects.
A honeypot is a type of scam where you, the user, are prevented from selling tokens.
An additional 48 projects had sales tax that are so high it makes it de-facto impossible to sell, unless you’re willing to lose up to $0.50 for every $1 you sell.
This isn’t exactly good news.
Do you use Base at all?
The main image for this article was generated by the author using perplexity.ai
bitcoinea 
Leave a comment