Summary

SafeShores is a public good API and Twitter bot designed to protect investors and promote transparency in the cryptocurrency ecosystem. By aggregating real-time public data on cryptocurrency scams, SafeShores aims to provide a trustworthy and accessible platform that offers reliable information on fraudulent projects, current vulnerabilities, and advised best practises from the security community. SafeShores will democratise how users access, report, and track scam data, making it easier to identify and avoid harmful projects and scam pitfalls.

The Challenge

The current landscape of the cryptocurrency ecosystem is plagued by misaligned media incentives, information bubbles, and a general lack of transparency. This environment allows malicious actors to thrive, putting investors at risk. Access to reliable scam data is expensive and limited, creating a centralized ecosystem where most scam data is found on Twitter, restricting its availability to those who do not use the platform. Furthermore, tracking down scams and holding perpetrators accountable is difficult due to their scattered presence across various platforms.

Our Solution

SafeShores addresses these challenges by providing:

• A comprehensive, real-time aggregation of scam data, accessible through a Twitter bot, website, and other media channels.
• Elimination of the need to follow specific individuals on social media platforms.
• A database containing information on scams, poorly designed tokens, and bad token engineering systems.
• Analysis of token engineering systems, easily understandable by laypeople.
• Open-source funding to eliminate media bias.

Project Phases and Deliverables

SafeShores will be developed in three distinct phases:

Phase 1: Twitter Bot and Token Engineering Education Tool

• Development of a Twitter bot leveraging APIs, AI Agents, and GPT to provide users with comprehensive information on scams, badly designed tokens and security risks
• Creation of an educational tool that simplifies token engineering concepts for laypeople

Phase 2: Website Development and Open-Source Setup

• Development of a user-friendly, open-source website for accessing scam data, educational tools, and token engineering analysis

Phase 3: Growth and Integration with Other Services

• Integration with existing services such as scam sniffer, blocksec, and other web3 services
• Establishment of an open-source database that serves as an API for scams in web3

Grant Fund Allocation

The grant funds will be allocated to:

• Development costs such as servers to run the Twitter bot, educational tool, and website.
• API costs for machine learning models such as LLMs
• Building and maintaining a reliable database of scam data and security data
• Integration with existing services like scam sniffer, blocksec, and other web3 services.
• Provision of open-source funding to ensure transparency and independence.

By delivering a decentralized platform for easy access to reliable scam data, SafeShores aims to protect investors and foster trust in the cryptocurrency ecosystem.

Team

Simon is a full-stack builder in web3 who’s worked on several projects to improve the safety and awareness of crypto investors. At his previous startup Health Potion he built a decentralised insurance product that protected investors against phishing scams and successfully insured $43K of assets for the MVP. He has a Masters in Risk Management & Financial Engineering from Imperial College London.