How to Get a Pinksale Audit
Introduction
With the increasing popularity of altcoins, it is common to see several blockchain project teams perform a token presale in launchpads like Pinksale. A presale is a crowdfunding event that allows investors to purchase tokens before they are listed on exchanges. It is usually held by teams that are raising funds to develop their project. At the same time, investors have the opportunity to buy an altcoin that could be worth a lot more in the future. However, it is hard for them to be sure if their investments will be safe, as the projects that perform presales are in their early stages of development.
In the below article, we will describe how an audit can be an essential tool in their decision, how crucial it is for the success of a Pinksale presale, and how you can get one.
What is Pinksale?
Pinksale Finance is a launchpad protocol that allows its users to create and launch tokens. The platform does not require coding knowledge, so anyone can generate their own token in only a few clicks. Furthermore, it offers additional features related to the token launch including LP locking, vesting options and automatic listing on exchanges such as PancakeSwap and UniSwap.
Even though it originally provided services only on the Binance Smart Chain (BSC), now it supports 6 more blockchains including Ethereum, Polygon and Avalanche networks. Pinksale is one of the most popular launchpad platforms in which users can create a presale for their token.
To keep both project owners and investors safe throughout the presale process, Pinksale offers two features: Anti-Rug and Anti-Bot systems. The Anti-Rug system gives owners the option to lock a part of their team tokens. Provided the team locks a sufficient amount of tokens for a period of time, users can be sure that the project will not be able to rug pull right after the presale ends. At the same time, the Anti-Bot system prevents automatic buy orders from bots, lowering the chances of investors being taken advantage of, in a potential price dump.
How Do Presales Work?
A Pinksale presale takes place before the official launch of an Initial Coin Offering (ICO), during which the startup offers tokens to interested investors. The reason projects perform a presale is to raise funds for their operations until the official launch when tokens will be available for everyone to buy.
The presale participants have the opportunity to buy the tokens at a lower price than if they bought them after the official launch. Of course, that benefits the investors. In case the value of the currency increases after its launch, their holdings will be worth a lot more. Although presale-stage investments can be lucrative, there are some risks to consider. If a Pinksale presale campaign does not conclude as planned and the project token fails to launch officially, the investors can find themselves owning tokens of no value.
Also Read: What is Wash Trading in Crypto?
Why Do You Need a Smart Contract Audit for your Pinksale Presale?
Smart contracts may be vulnerable to hacking, resulting in irreversible losses. Each year, billions of dollars worth of cryptocurrencies are lost to cyberattacks worldwide. Since smart contracts involve financial transactions, it is important to be error-free. Otherwise, hackers may be able to use code flaws to their advantage and steal crypto assets that can not be recovered. Therefore, project owners have to be sure that their contracts are safe and protected from malicious actions. That is why they invest in smart contract audits.
A smart security audit is a process of checking a contract’s source code for any defects in order to ensure that it is functioning as intended. The process entails both automated and manual checks of the code for the auditors to gain a comprehensive understanding of the contract’s functionality and purpose. Furthermore, a careful examination of the code’s structure can reveal potential security vulnerabilities that could be exploited by external actors.
An audit report is a valuable tool for both project owners and investors. It can help the developers of the team to identify bugs or security fractures in the code that could be abused by third parties and fix them before the presale begins. Furthermore, it will provide users with all the information they need about the project in which they consider investing and warn them of possible dangers.
How Can You Get an Audit for Your Pinksale Presale?
Following the need of users to trust a project before they invest, a badge section has been introduced for the presale system of Pinksale. The badges represent various security certifications the project has earned and can help users make better investment decisions.
There are 4 different badges that a project can earn for their Pinksale presale phase:
Audit Badge: This badge means that the contract of the token has been reviewed and audited for possible vulnerabilities.
KYC Badge: By getting the KYC badge, the team proves that one or more of its core members passed through the Know your Customer process.
SAFU Badge: The SAFU badge indicates that the contract has been developed by an official Pinksale-approved developer. SAFU contract have various requirements that ensure the contract is safe for investors and cannot be manipulated by the project owners.
Doxx Badge: The Doxx Badge is an extension of the KYC badge. The project team proves the identities of its members by publishing a Youtube video and an AMA (Ask me Anything) session.
Getting badges for a project’s presale can increase your chances of finding more investors as they use them as criteria to evaluate their investment decisions.
Quick Link: What is Sleep Minting? Everything You Need to Know
Conclusion
Α smart contract audit, ιn addition to the security insights it offers, can certainly increase the chances of a successful Pinksale presale. The information it contains can be used by the project owners to improve the contract before the official launch. An audit for your Pinksale presale is also vital for traders who want to have an unbiased review of the project before they decide to invest their funds. Cyberscope is an official Audit & KYC partner of Pinksale having already audited more than 1,000+ smart contracts.
If you need a smart contract audit quote for your Pinksale presale, feel free to contact us at:
[email protected] or reach out to @raf_cyberscope on Telegram.
Frequently Asked Questions (FAQ)
- What is a Pinksale presale, and why do blockchain projects perform it?
A Pinksale presale is a crowdfunding event conducted on the Pinksale launchpad, allowing project teams to raise funds by offering tokens to investors before the official exchange listing. Projects use presales to gather financial support for their development.
- What distinguishes Pinksale as a launchpad protocol?
Pinksale Finance is a launchpad protocol known for its user-friendly approach, allowing easy token creation without coding knowledge. It supports various blockchains, including Binance Smart Chain, Ethereum, Polygon, and Avalanche. Pinksale incorporates features like LP locking, vesting options, and automatic listing on exchanges.
- What is the purpose of a smart contract audit for Pinksale presales?
A smart contract audit is crucial to identify and rectify vulnerabilities in the contract’s source code. Since smart contracts involve financial transactions, audits ensure they are error-free and safeguard against hacking attempts, minimizing the risk of irreversible losses.
- How can a project earn security badges for its Pinksale presale?
Pinksale introduces four security badges for presales:
- Audit Badge: Indicates the contract has been reviewed and audited for vulnerabilities.
- KYC Badge: Confirms core team members have passed the Know Your Customer process.
- SAFU Badge: Signifies the contract is developed by an official Pinksale-approved developer with specific safety requirements.
- Doxx Badge: An extension of KYC, proving team identities through a YouTube video and an Ask Me Anything (AMA) session.
- How can a project request a smart contract audit for its Pinksale presale?
Project owners can request a smart contract audit for their Pinksale presale by contacting Cyberscope at [email protected] or reaching out to @raf_cyberscope on Telegram.
- Why is a smart contract audit crucial for the success of a Pinksale presale?
A smart contract audit is vital for project success as it provides security insights and helps improve the contract before the official launch. It offers unbiased reviews for traders, contributing to their decision-making process before investing funds.
