BalzBack Launches Platform to Convert Rugged Tokens into Liquidity

BalzBack, a new initiative in the cryptocurrency space, has opened its platform for community submissions, aiming to salvage value from failed projects. The DeFAI Redemption Protocol underpins the service, assessing communities via on-chain behavior and sentiment to generate a Community RugScore. Approved token holders can then deposit their rugged tokens through a Telegram-native app, receiving allocations of $BALZ based on their score and deposit tier.

The MOVE comes as the market grapples with high-profile collapses, including $LIBRA, promoted by Argentine President Javier Milei, and $MELANIA, endorsed by former U.S. First Lady Melania Trump. Both projects allegedly involved Hayden Davis of Kelsier Ventures, with losses exceeding $400 million combined. Other casualties include $HAWK Tuah, backed by influencer Hailey Welch, and $WOLF, which plummeted 99% within 48 hours of launch.