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I would suggest for those defi fans to be vigilant with these sprouting projects. Since YFI seemed to be successful right now, expect that there will be more projects related to it that will be deployed. No website, and yet they are already selling their tokens. Stay safe guys! Don't be deceived by the current hype because most of them are just fake projects.

It's up to three days on the stock exchange, it's pre-sale!

PRE-SALE has been announced already, but there are still not much information about project and token, hope it will change in the future

Really desperate move from these defi creators banking on naive users that will jump in the current hype of DeFis. I don't understand why some investors are blindly spending their money to empty promises of projects. If you will check their token contract, there are about 260 holders at this moment. So is it mostly owned by the team or are there users that already sent money to them in exchange of their token?

https://etherscan.io/token/0x03829f5675f3b51d0f8c2a74417a757625acf22f

https://i.postimg.cc/0ygQyg1r/Screen-Shot-2020-09-01-at-7-24-59-PM.png

https://hotbit.zendesk.com/hc/en-us/articles/360052955294-Hotbit-will-launch-YFIB-YFIBALANCER-FINANCE-on-Sep-3rd

Ever since YFI have experience a tremendous price movement, now we have copycat of this project,  what is YFIB Balancer and what it's purpose in blockchain? Or this is another quick money grab project in the defi platform to cheat people, it is project like this that will give bad name to defi platform,  the defi scam projects are increasing in numbers.

All of tokens being sent to the owner's address and the crowdsale address doesn't even get a single transaction https://etherscan.io/address/0x7f7Eb3592c2d68eb6b9b871836a150C9bd8EF18A

That means this coin has no investors. This is a crap coin for sure. Even the contract creator didn't verify its contract and then make it available to be audited by others.

A high chance to be a scam coin.

I also tend to think that there will most likely be another scam token that DeFi name uses to defraud investors. So I would advise against buying it.

True, avoid wasting your money on unprofessional projects. even this project does not have an official website, there is only a twitter account which does not provide much information. investing here looks like gambling.

Very obvious that this defi project is only for the potential money that they can screw from naive investors. Since defi is down, I don't think they have the motivation to push thru this project. I hope those defi buyers will not just buy any defi project with yfi attached to its name. A lot are already on the verge to exit.

There is no much information about the project and there is no many updates last time. Team must do something to make people be more interested in the project

The DeFi trend is really Crazy, even projects like this their token price goes up several times the presale price. Maybe this is what makes people competing to invest on DeFi projects even though the risk is very high.

But it would be very strange if people invest in YFIB project considering that currently their website is not available, but fortunately for those who buy at the presale they still get an ROI above 2x but I don't think it will last long because many Y Series projects end up scams quickly.