Decentralized Exchanges such as UniSwap or PancakeSwap facilitate the creation of market liquidity for cryptocurrency tokens, allowing buyers to quickly buy or sell without a significant price change. However, these liquidity pools have been the subject of a widespread scam in the cryptocurrency world known as rugpulls. Crypto developers launch a new token, promote it aggressively, garner massive investments, and then run away with the liquidity pool funds.
Thus, liquidity locking, which prevents such frauds, has been a common ask by investors in order to establish a coin’s legitimacy. Sadly, locking liquidity used to be a time-consuming and costly process due to the lack of an effective platform.
Mudra recently launched the most affordable and feature-packed liquidity locker for the Binance Smart Chain (BSC). By doing so, they have contributed immensely in increasing the credibility of the BSC ecosystem, which has thus suffered from too many scam projects.
By transferring the pool (LP) tokens to the Mudra time-lock contract, token owners can instantly lock their liquidity. Verified lock certificates with QR codes can be used to communicate the lock percentage and duration to investors, allowing them to invest confidently. Mudra lockers charge the lowest fees and lock management features such as lock extension are completely free. It has become the platform with the fastest growth rate in 2021, with over 1000 projects signing up within weeks.
