Bitcoin Forum

How risky are Defi yield projects?

If you are a crypto fanatic please look into Umami Finance for me and drop your opinion, any will be welcome and if you have a better one do let me know, I just want me a serious Defi project for long term hold.

https://umami.finance

Running on Arbitrum Network


A

I think by now you should have heard about the FTX project as well which is one of the latest scam that has happened on recent time, should in case you don't know the forum had got over 20 threads already that talks about this same scam with FTX bankruptcy, my advice for you is to reduce your hunt for crypto projects being a newbie because we have them in numbers failing already, as far as they are concerned we regard them as centralized projects and many of their kinds have also fallen in the past, why not create a start with bitcoin to create your own learning ground, just a subtle advise.

It's impossible to write an opinion on the DeFi project after a brief excursion. You need to carefully study the project and evaluate all the risks, and there are a lot of risks here. I prefer to invest in well-known projects, the price of which has fallen by 80-90% from ATH.

I am not a crypto newbie

FTX is not a decentralised entity and that says it all, if you read my question very well I stated that how risky are Decentralised Finance projects, FTX is a crypto exchange running as a fully centralised platform.

First time to read the term marinate, so this is like the liquidity pool, right? or it's the term for stake?

I can't give that much review on it but if you're able to stake or marinate there already, tell us your experience from them. I think 70% is manageable but if it goes more than 100% and up to a thousand, those are unbelievable APYs.

Another thing, the platform itself isn't known yet.