ToxicList intro: Manifesto

Hacken Foundation is ready to share the highly expected news. Our community members and industry specialists have repeatedly asked us about the launch of the next cybersecurity project. And based on the thorough industry analysis and your feedback, we have developed the following idea — ToxicList.

ToxicList is the next-generation community-driven project. It will address the common issue affecting most projects in the crypto sphere — large investors unexpectedly exiting their positions and, thereby, causing sharp drop in coins’ prices. ToxicList will protect emerging projects and the assets of their ethical investors from fraudulent investors who exit their positions soon after entry to generate speculative profits. This project will allow every member of the global crypto family to make a contribution to building a transparent and fair environment for crypto investments.

Manifesto

The 2021 crypto bull run has made many people rich, however, it has also given rise to greed. “Money spoils…”, people say. In reality, money brings out the weakest characteristics of an individual.

In 2021, we have seen hundreds of successful Initial Dex Offerings (IDO) for tokens that have given immense profits just after the projects’ launch. But those profits could have been even higher if very parasitic participants such as certain crypto funds, opinion leaders, or even individuals hadn’t dumped massive volumes of tokens bought for low prices during private fundraising rounds.

Token Flippers — The Fear of Any Cryptocurrency Project

We call these malicious parties who care little about the long term health of a project and are focused only on making a profit by dumping tokens as fast as possible — ‘flippers’.

During each new period of token unlocks, we see flippers dumping 100% of their distributions and, as a result, killing the token price. Such behaviour has a direct and negative impact on the token’s community as well as the long term viability of the project. When other investors see private sale participants dumping at each unlock, they start losing trust and hope for the future value of those projects.

It is reasonable to say that flippers are one of the main reasons behind the explosion of negative sentiments on tokens and general downtrends in the wider crypto industry.

Investors And Their Reputation

We don’t mean that crypto investment funds should not sell at all. Reasonable profits justify the risk of investing in a crypto startup. It is OK to take out (part of) the initial investment in the first week(s) of token trading. But an investment fund should never damage the project and its community when taking profits.

In the traditional venture capital world, investment funds very carefully exit from their investments, thereby, trying to preserve their reputation. If a venture fund heavily sells off its investments during the first days after the IPO, then everyone in the industry will know it. As a result, the reputation of this fund will be damaged, and it will be ineligible for participation in the most promising start-up investment rounds.

We intend to create a similar environment in the crypto industry where investors will not be able to dump huge volumes of tokens. As a result, the industry will avoid drastic fluctuations of prices and sentiments.

Introducing ‘ToxicList’ — an investor reputation platform built specifically for the crypto industry

The idea of ToxicList is to identify and make public the names of flipper funds to raise community’s awareness of the non-trustworthy industry players. We strive to set a new standard of behaviour for the benefit of all members of the crypto space. If you are a greedy fund planning to simply flip your tokens, then be prepared to appear on the ToxicList Hall of Shame. Please be informed that the best projects moving forward will be unwilling to accept potentially toxic money.

Following the initial launch of the platform, we will begin collecting data about investors — both good and bad. Investors who act consciously and sell in a way that is favourable for the long term health of the project and its community will get rightful recognition. This will benefit all participants — solid projects can grow in a favourable environment, thereby, allowing investors to reap the rewards of their investments. This dataset will create the ‘TrustedList’.

Validating investors

Continuously updating the ToxicList & TrustedList of crypto funds is a must in today’s vast and rapidly expanding crypto industry.

Hacken’s core team that is trusted by governments and enterprises will continue to play the role of data validator. From our side, we will ensure that all sensitive information submitted to ToxicList remains 100% anonymous and private. We will validate all data to ensure accuracy and high quality of information about investors and verify whether they have indeed acted in either a toxic or trustworthy manner.

The exact details on how we will validate the data and guarantee its correctness will be shared in the nearest future.

We do understand that many wealthy funds will be displeased by the launch of our platform, but we are happy to accept this risk. Since 2017, we have been in a continuous fight against hackers, fraudsters, and scammers. This is just another battlefield for us.

We at Hacken are believers in the mass adoption of this technological field and are fully confident that ToxicList will become the logical next step in securing the future of the crypto industry. We will create a safer and more mature environment where projects and investors will be able to grow together.

We invite everyone to join us by distributing our manifesto and sharing any data you have on any investors.

Sincerely yours,

Dyma Budorin

CEO @ Hacken Foundation

Hacken Foundation will keep you informed on any updates regarding the progress of the ToxicList project. The ToxicList team is ready to work hard to bring revolutionary changes to the industry. We strongly invite you to share your opinion and suggestions on how to make ToxicList even a more powerful weapon in the hands of ethical investors via the project’s social media and Hacken Foundation’s communication channels.

Follow Hacken on our media channels:

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Hacken Club Reddit: https://www.reddit.com/r/hacken/

Hacken Club Telegram Ru: https://t.me/hackenclub_ru

Hacken website: https://hacken.io/

Hacken Foundation website: https://hackenfoundation.com/

Follow ToxicList on media channels:

ToxicList Twitter: https://twitter.com/Toxic_List

The community of crypto and cybersecurity enthusiasts united to keep not only themselves but also their friends and family safe in today’s digital world.