Fair3 Launches Tech Fairness Foundation: First Wave of Compensation to Lock-in MrBeast Meme Coin Rug Pull Victims

2025-08-15 21:52

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Every quarter, between 150,000 and 300,000 FAIR3 will be continuously added to the compensation pool.

Source: Fair3

On August 15, 2025, renowned global YouTuber MrBeast held a charity livestream with the theme of "providing clean drinking water to remote areas in developing countries." During the livestream, the third-party platform Bags launched a meme token called "$MRBEAST," claiming that all copyright revenue generated by the token would be donated to charity.

However, within just two hours of the token launch, its market value briefly exceeded $7 million, only to then experience a Rug Pull, causing the token price to plummet to zero instantly and resulting in significant user asset losses.

Fairness Should Not Just Be a Slogan – Fair3 Officially Establishes Tech Fairness Foundation

In response to the extreme unfairness exposed by this event, the Fair3 community has officially announced the launch of the "Tech Fairness Foundation" to take concrete action against unfair events in the Web3 world and establish a community-driven "compensation support mechanism."

The mission of the Tech Fairness Foundation is to transform "fairness" from an ideal into a systemic protection mechanism – allowing community users who have been harmed by unfair practices such as scams, manipulation, Rugs, and black-box operations to receive the protection and compensation they deserve.

MrBeast Meme Coin Rug: First Case of Compensation Plan Launched

As the first compensation case launched after the foundation's establishment, the Fair3 community will initiate a community proposal mechanism and airdrop compensation for the "$MRBEAST Rug" event.

Snapshot Time

August 15, 2025, 6:45 AM (UTC+8)

Token Information

MrBeast Meme Coin: G1DXVVmqJs8Ei79QbK41dpgk2WtXSGqLtx9of7o8BAGS

Fair3 Token: 0x6952c5408b9822295ba4a7e694d0C5FfDB8fE320

Compensation Eligibility Requirements

Simultaneously hold Fair3 Token and MrBeast Meme Coin at the snapshot time;

Bound SOL + EVM Dual Wallet to CARV Play Platform (for on-chain verification);

Participate in CARV Play event page.

Timeline Schedule

Application Period: August 15 - August 20

Review Period: August 20 - August 25

Airdrop Distribution: On or before August 31

Compensation Pool

Total: 100,000 FAIR3 Tokens

Each user can receive up to a maximum of 10% of the compensation pool amount

Tech Fairness Foundation: How Does It Work?

The Tech Fairness Foundation is not merely symbolic but is equipped with a real fund pool, transparent system, and community governance process, aiming to provide substantive support and recovery channels to the community with each occurrence of unfairness.

Compensation Eligibility Mechanism

During an unfair event, users hold both FAIR3 and the token involved;

The CTO team will conduct an on-chain snapshot for verification;

Community users can submit applications through the Foundation's page;

Once approved, compensation will be airdropped to the user's wallet within 7 days.

Community Governance Rules

Users holding ≥100,000 FAIR3 can propose compensation;

Users holding ≥5,000 FAIR3 can participate in proposal voting;

All proposals will be refined into final text with the assistance of the Foundation Committee;

Individuals engaging in malicious activities or having abnormal accounts will be disqualified.

For each Rug event identified through the community proposal mechanism, the Tech Fairness Foundation will allocate 50,000 to 100,000 $FAIR3 tokens to a dedicated compensation pool (contract address: 0x6952c5408b9822295ba4a7e694d0C5FfDB8fE320). This is not charity but a practice of collective justice.

Every quarter, 150,000 to 300,000 $FAIR3 tokens will be continuously added to the compensation pool. Eligible affected users will share this pool proportionally based on their $FAIR3 holdings. To ensure fair distribution, the compensation received by each eligible applicant will not exceed 10% of the total pool amount for that period.

Final Words: We aim to provide not only "Tech Fairness" but also "Fair Coining"

Rug events are not a one-time occurrence, nor will they be the last. However, Web3 cannot become a heartless harvesting ground and cannot rely solely on the self-awareness of project teams.

Fair3 established the Tech Fairness Foundation to tell the community:

Here, fairness is not just a slogan but a shield;

We not only document harm but also provide a response;

Every compensation is a safeguarding of Web3 values.

In the future, more support standards and participation methods will be announced successively. Please continue to follow the official account and community of @Fair3_community, join us, and build a crypto world where fairness is no longer absent.