Token Utility $SCM

Token

Token Utility of Scamfari native token $SCM:

1. Rank Payments for Increased Rewards: $SCM, the native token of the Scamfari project, offers a unique utility by implementing a rank-based reward system. Users who actively contribute to the platform and demonstrate expertise in identifying scams are eligible for higher ranks. These ranks directly correlate with increased rewards. As users climb the ranks by providing accurate and valuable information about scams, they earn more $SCM tokens as a testament to their dedication and proficiency. This incentivizes users to maintain an active presence and consistently contribute their insights, enhancing the overall effectiveness of the platform.

2. Task Setting and Commission Payment: $SCM tokens play a crucial role in the task-setting mechanism of Scamfari. Researchers can create tasks on the platform, outlining specific criteria for identifying potential scams or fraudulent activities. When these tasks lead to the identification and reporting of cases that meet the established criteria, the researchers receive rewards in $SCM tokens. Additionally, the platform applies a 10% commission on any cases reported through the platform. This commission is collected in the form of $SCM tokens, which serves as a mechanism to sustain the platform's operations and fund further developments. The utilization of $SCM tokens for commission payment ensures a transparent and streamlined process.

3. Ecosystem Rewards for Scammer Identification: Scamfari has fostered collaborations with various ecosystems that maintain networks to identify and combat scams. Within these partnerships, users who successfully identify and report scammers operating within the ecosystem's network are entitled to rewards in $SCM tokens. By leveraging this reward system, Scamfari encourages users to actively contribute to the identification of fraudulent individuals within the partnered ecosystems. This symbiotic relationship enhances the overall security and credibility of the ecosystems while expanding the utility and adoption of $SCM tokens.

In summary, the $SCM token within the Scamfari project embodies a multifaceted utility approach. It enables users to earn higher rewards through a rank-based system, facilitates the creation of tasks for researchers with associated token rewards and commission payments, and establishes a mechanism for ecosystem rewards, further fostering collaborative efforts in scam prevention. The token's versatility enhances the effectiveness of the platform and encourages active user participation in identifying and mitigating fraudulent activities.