The recently launched decentralized social network Damus announced the addition of a content-monetisation feature that would allow users to earn satoshis for viewing posts. The team did not specify a timeline for the rollout.
Coming soon in the next version… earn sats directly on posts! This post earned 118k sats which is about $40. Pretty neat! pic.twitter.com/dAbWWD4i93
— Damus⚡️ (@damusapp) February 5, 2023
Analysts at PeckShield said that Damus has been flooded with fraudulent projects posing as original crypto protocols. In total, experts counted 15 such cases.
#PeckShieldAlert #Damus #Scam PeckShield has detected 15 $Damus have been newly created on #Ethereum & $BNBChain
1 of these $Damus appears to be #honeypot, 7 of them have a high selling tax (100%) and 7 of them have already dropped over -99% @damusapp
Do *NOT* fall prey to it https://t.co/P3bKjUZ2ZY pic.twitter.com/l8ZajkVZvO— PeckShieldAlert (@PeckShieldAlert) February 6, 2023
Fake tokens are issued on the Ethereum and BNB Chain networks and contain malicious features designed to prompt users to buy them. At least one of the 15 scams does not allow holders to sell their assets.
PeckShield noted that most of these tokens impose a 100% “sell tax,” which is a way to steal all funds when buyers attempt to transfer them.
The Damus team also issued a warning in connection with the incident.
🚨SCAM ALERT🚨
Damus does not have a token and will never have a token. If you bought a $DAMUS token you have been scammed.
— Damus⚡️ (@damusapp) February 3, 2023
«Damus has no token and will never have a token. If you bought a DAMUS token, you have been scammed», — is the project’s statement.
Damus positions itself as a user-controlled social network. The app is built on the decentralized network Nostr, which enables end-to-end sharing of private messages without servers via relays.
Since its February 1 launch, Damus has risen to the top 10 free apps in the US App Store. On the eve of the release, the developers were backed by Twitter founder Jack Dorsey, who donated 14 BTC to the project.
As reported at the end of 2022, Andre Cronje, who joined the Fantom Foundation’s board of directors, announced plans to monetize gas for developers of dapps.