Original source: Fair3
On August 15, 2025, globally renowned YouTuber MrBeast hosted a charity live stream themed "Providing Clean Drinking Water to Remote Areas in Developing Countries." During the live stream, a third-party platform called Bags launched a Meme token named "$MRBEAST," claiming that all copyright revenue generated from the token would be donated to charity.
However, within just two hours of the token's launch, its market value briefly surpassed $7 million, only to then experience a Rug Pull, causing the token price to plummet to zero and resulting in significant asset losses for many users.
Fairness Should Not Just Be a Slogan — Fair3 Officially Establishes the Tech Fairness Foundation
In response to the extreme unfair behavior exposed by this incident, the Fair3 community officially announced the launch of the "Tech Fairness Foundation" to take concrete actions against unfair events in the Web3 world and to establish a community-driven "Compensation Support Mechanism."
The mission of the Tech Fairness Foundation is to transform "fairness" from an ideal into a systematic protection mechanism — ensuring that community users harmed by unfair behaviors such as fraud, manipulation, Rug Pulls, and black-box operations receive the protection and compensation they deserve.
MrBeast Meme Coin Rug: Launch of the First Compensation Plan
As the first compensation case launched by the foundation, the Fair3 community will initiate a community proposal mechanism and airdrop compensation for the "$MRBEAST Rug" incident.
Snapshot Time
August 15, 2025, 6:45 AM (UTC+8)
Token Information
MrBeast Meme Coin: G1DXVVmqJs8Ei79QbK41dpgk2WtXSGqLtx9of7o8BAGS
Fair3 Token: 0x6952c5408b9822295ba4a7e694d0C5FfDB8fE320
Compensation Eligibility Requirements
Hold both Fair3 Token and MrBeast Meme Coin at the snapshot time;
Have bound SOL + EVM dual wallets to the CARV Play platform (for on-chain verification);
Participate in the CARV Play event page.
Timeline
Application Period: August 15 – August 20
Review Period: August 20 – August 25
Airdrop Distribution: Completed by August 31
Compensation Fund Pool
Total Amount: 100,000 FAIR3 Tokens
Each user can claim up to 10% of the compensation pool amount
Tech Fairness Foundation: How Does It Operate?
The Tech Fairness Foundation is not merely a symbolic establishment; it is equipped with a real fund pool, transparent systems, and community governance processes, striving to provide substantial support and recovery channels to the community whenever unfairness occurs.
Compensation Eligibility Mechanism
When an unfair event occurs, users must hold both FAIR3 and the involved token;
The CTO team will execute an on-chain snapshot for rights confirmation;
Community users can submit applications through the foundation's page;
Once approved, compensation will be airdropped to users' wallets within 7 days.
Community Governance Rules
Users holding ≥100,000 FAIR3 can initiate compensation proposals;
Users holding ≥5,000 FAIR3 can participate in proposal voting;
All proposals will be assisted by the foundation committee to refine the final text;
Malicious behavior or 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 (contract address: 0x6952c5408b9822295ba4a7e694d0C5FfDB8fE320) from the dedicated compensation pool. This is not a charitable act, but a practice of collective justice.
Each quarter, 150,000 to 300,000 $FAIR3 will be continuously injected into the compensation pool. Eligible victim users will share the compensation pool proportionally based on the amount of $FAIR3 they hold. To ensure fair distribution, the compensation received by each eligible applicant will not exceed 10% of the total amount of that period's compensation pool.
In Conclusion: We Not Only Ensure "Technical Fairness," But Also "Fairness in Trading"
Rug Pulls are not the first, nor will they be the last. But Web3 cannot become a cold harvesting ground, relying solely on the self-awareness of project parties.
The establishment of the Tech Fairness Foundation by Fair3 is to tell the community:
**Here, fairness is not a slogan, but a shield;
We do not just record harm, but respond to it;
Every compensation is a safeguard of Web3 values.**
In the future, more support standards and participation methods will be announced. Please continue to follow the official account and community of @Fair3_community, join us, and create a crypto world where fairness is no longer absent.
This article is from a submission and does not represent the views of BlockBeats.
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