New Wallet Policy
Available for the following blockchains: Solana, Ethereum, Base, Polygon, BSC, Blast, Avalanche, Arbitrum
New Wallet Policy
Overview
At Divine, we've implemented a strict "New Wallet Policy" to enhance security and protect our users from potential malicious activities. This policy is designed to mitigate risks associated with newly created wallets, which are often used in wash trading, pump and dump schemes, and other fraudulent activities.
The Policy
New wallets are banned by default.
We do not trust newly created wallets as they often come from malicious bots or humans engaging in wash-trading or pump and dump schemes.
Why This Policy?
Fraud Prevention: Many scams and market manipulation attempts are carried out using freshly created wallets.
Bot Mitigation: Malicious bots often generate new wallets to bypass security measures.
Wash Trading Prevention: New wallets are frequently used to create artificial trading volume.
Pump and Dump Protection: Coordinated pump and dump schemes often utilize multiple new wallets.
Community Protection: This policy helps maintain a more stable and trustworthy trading environment for all users.
How It Works
Wallet Age Check: Our system automatically checks the age of wallets interacting with monitored tokens.
Threshold: Wallets below a certain age (specific threshold not disclosed for security reasons) are considered "new".
Automatic Banning: New wallets are automatically banned from interacting with tokens monitored by Divine.
Continuous Monitoring: We regularly review and adjust our age thresholds based on observed patterns and emerging threats.
Benefits for Users
Reduced Fraud Exposure: Minimizes the risk of interacting with wallets involved in fraudulent activities.
Market Stability: Helps maintain a more stable trading environment by reducing artificial volatility.
Trust in Trading: Users can have more confidence that they're trading in a environment with established participants.
Proactive Security: Addresses potential threats before they can impact the ecosystem.
Considerations
Legitimate New Users: We acknowledge that this policy may impact some legitimate new users. We're continuously working on refining our detection methods to minimize false positives.
Evolving Threats: As threats evolve, we may adjust our policy and detection methods. We encourage users to stay updated with our latest security measures.
Exceptions
The only exception to this policy is for wallets that are part of our Elite Trader Whitelist. These pre-approved wallets have demonstrated exceptional performance and reliability across multiple tokens.
Remember, while this policy significantly enhances security, it's part of a broader set of measures we employ to protect our users. Always practice due diligence and follow best practices for cryptocurrency trading and investments.
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