This is a website completely written from scratch. www.sharedurl.com Add your links and descriptions for free. I'm currently making final touches on some parts of the backend and needs url listings. You can add your sites (with a good description, no spam please) and they will be approved automatically. You can signup and vote for them etc. Don't abuse it, this is a free service, and a testing period.
"Users can flag a website as spam/inappropriate. Whenever a site gets flagged by 10 registered members, it'll be deactivated" - This can easily be abused?
The idea is to have it community powered. So yes, if many registered members decide a link is spam, then it is. Think of it like digg, if someone duggs it down, it is burried even if it is legit. As for the number 10, that is a threshold that can be changed when we ahve a lot of members.