Backstory

What inspired CrowdSafe?

The Rise and Fall of Squid Game

After the international success of the Netflix Television show Squid Game, an anonymously developed cryptocurrency coin was gaining massive attention within the crypto community. This $SQUID token raised in value to a few million dollars in market capitalization, before dropping to essentially zero. The contract of the token gave preferential permission for the developers to withdraw the money locked into the token, allowing them to take the money and run. This was a clear cut case of a typical Pump and Dump. Hundreds of thousands of excited crypto investors and players expected to participate in the growth of this project, yet was instead found to have lost all the money they put into the project. For a longer read about Squid Game coin.

On the news of this massive Pump-and-Dump scheme, the development team of StakeWarriors got to work developing CrowdSafe to bring about an end to these malicious tokens that are detrimental to the crypto community.