I traded a small amount of XDAI for Bao tokens on Honeyswap Yesterday, before realising the Bao tokens I was trading for are not bridged from the mainnet and rather minted on XDAI and thus, I assume, a scam. The contract address is as follows > 0x43766080c052d97a8206cccb114f99651e26de61 and there is currently a small XDAI + Bao pool on honeyswap > https://info.honeyswap.org/pair/0x109437f31702f983b798de5032ecb4487422022d which is trading at a different rate to the mainnet (which is what gave me the initial clues).
I know that it is up to me as the user to be smart and make sure the token I am trying to get is the real deal, however it is not as simple process as the mainnet and therefore a lot more likely that innocent honeyswap users could be scammed out of their hard earned HNY. Particularly as a lot of new users are attracted to honeyswap to avoid the ever increasing mainnet fees.
I think it would be great if we could come up with a plan to incentivise 1hive users to find and destroy fake token contracts and thus reduce the dangers of our swap.
I’m not sure the best way to achieve this, but I think something like 1-10 XDAI worth of HNY for each bad contract would be a nice little incentive to help the whole community. I personally would do it for free if I knew the process necessary to flag and remove a token (in fact if someone can explain the options here, that would be great!)