Chocodoge, an NFT gaming project created for Dogechain, is concerned with the surging rate of fraud and investment risks looting investors of their funds. Hence, according to a recent press release, Chocodoge is set to provide the industry with an innovative platform that guarantees security for investors.
Naturally, it has been observed that risk and return are two crucial factors of investments that cannot be neglected if profit must be made. Hence, potential investors are encouraged to understand both concepts properly before making investment decisions.
Chocodoge understands that investments in cryptocurrencies are a prime target for fraudsters as they take advantage of the unregulated position and growing popularity of crypto assets to defraud investors. Hence, the platform has highlighted specific indications of fraudulent red flags that can help investors manage risks, weigh their options carefully and decide which investments are worth the risk.
According to Chocodoge, a legitimate project can be easily identified by describing the team behind the project. It essentially noted that since the project’s team is crucial to its success because of the technological sophistication of the work required, thus, if the project documentation, whether in the white paper or on its website, does not describe the team, an investor should be concerned.
The platform had proven its originality in this regard after it discovered an abnormality in its services. The outlet reached out to its users via social media to curtail the issue. At the time, Chocodoge temporarily recommended for their users on social media to remove 2 pools with validated smart contracts which, are KIB, and USCD, from exployer.
Chocodoge explained that there is cause to doubt the seriousness of a project if a potential investor cannot contact the team. Nonetheless, with Chocodoge, it is typically straightforward to get in touch with the team behind to ask questions or obtain additional information about the project.