Show HN: RugShield 402 – DEX honeypot simulator via HTTP 402 on Base (github.com)

RugShield 402 has launched a novel honeypot detection and pre-swap simulation engine tailored for decentralized exchanges (DEXs) on the Base blockchain. By utilizing the HTTP 402 payment standard, the service charges $0.005 USDC per scanning transaction, enabling retail traders and automated trading agents to assess potential risks before executing swaps. The platform includes a web scanner DApp, a Telegram bot for community groups, and plugins for ElizaOS and Coinbase’s AgentKit, making it broadly accessible for various user scenarios. This development is significant as it enhances the security and efficiency of decentralized trading by helping users identify fraudulent tokens that may pose as honeypots, thus protecting their investments. The technical architecture leverages EVM (Ethereum Virtual Machine) bytecode simulation to assess liquidity depth, fee tiers, and generate comprehensive risk assessments. These tools facilitate informed decision-making in high-stakes environments, addressing the pressing need for reliable security solutions in the rapidly evolving landscape of DeFi (Decentralized Finance).