Fair3's Tech Fairness Foundation Responds to MrBeast Meme Rug Pull: A New Shield for Web3 Victims

The Incident That Exposed Web3’s Darkest Side

On August 15, 2025, during a charity livestream hosted by famous YouTuber MrBeast—themed around providing clean drinking water to developing regions—an unexpected disaster unfolded. A third-party platform launched a meme token bearing the MrBeast name, promising that all copyright revenues would flow to charity. Within two hours, the token’s market cap soared past $7 million. Then came the collapse: a classic rug pull that sent the token price crashing to zero, evaporating user funds in seconds.

The incident exposed a harsh truth about decentralized finance: communities remain vulnerable to sophisticated scams, and victims are often left with no recourse.

From Slogan to Action: Fair3 Launches the Tech Fairness Foundation

Rather than treat fairness as a marketing phrase, Fair3 community has taken concrete action. The Tech Fairness Foundation was officially established to transform fairness into a functional protection system—one with real capital, transparent mechanisms, and community-governed processes.

The foundation’s mandate is clear: protect users harmed by scams, price manipulation, rug pulls, and opaque operations through a systematic compensation framework. This isn’t charity—it’s collective justice in practice.

How the Compensation Mechanism Works

The foundation allocates 50,000 to 100,000 FAIR3 tokens per recognized rug event from a dedicated compensation pool. Every quarter, an additional 150,000 to 300,000 FAIR3 tokens are injected to sustain the system.

Current FAIR3 Data:

• Price: $0.01
• Market Cap: $8.08M (circulating)
• Circulating Supply: 935.81M tokens

Eligible victims—those holding both FAIR3 and MrBeast meme coins at the snapshot point (August 15, 2025, 6:45 AM UTC+8)—share compensation proportionally based on their FAIR3 holdings. The maximum payout per applicant is capped at 10% of the compensation pool to prevent concentration.

Community Governance at the Core

The foundation operates on democratic principles:

Proposal Rights: Users holding 100,000+ FAIR3 can submit compensation proposals.

Voting Rights: Users holding 5,000+ FAIR3 can participate in proposal voting.

Implementation: After community approval, the foundation committee finalizes proposal language and executes payouts within 7 days.

Safeguards: Accounts showing malicious behavior or abnormal patterns lose eligibility.

MrBeast Rug Pull: First Compensation Rollout

Eligibility Requirements:

• Hold both FAIR3 and MrBeast tokens at snapshot time
• Register both SOL and EVM wallets on CARV Play platform
• Participate in the foundation’s activity page

Timeline:

• Application Window: August 15–20
• Review Period: August 20–25
• Distribution: Completed by August 31

Compensation Fund: 100,000 FAIR3 tokens distributed across eligible applicants.

A New Standard for Web3

The Tech Fairness Foundation represents more than damage control—it signals that the Web3 community can build institutional responses to fraud. By combining transparent fund allocation, community governance, and enforceable eligibility criteria, Fair3 is establishing a precedent that fairness isn’t dependent on project benevolence but embedded into ecosystem design.

As the foundation expands, additional support standards and participation methods will be announced. The message is simple: Web3 doesn’t have to be a hunting ground for predatory actors. With mechanisms like these in place, fairness transitions from aspiration to reality.

Follow @Fair3_community for updates and join the movement toward a Web3 where accountability and recovery are guaranteed.