What is your opinion about DMG?

DMG = DeFi Money Market Governance Token.

- Simple ERC20 token backed by Tim Draper.
- USP is similar to MKR/COMP/BAL. Claiming to be lending to real world assets for interest generation.
- Trading on UniSwap.Exchange and many other Decentralized On Chain exchanges.

Details @ https://DeFiMoneyMarket.com/

Tracking @ https://www.coingecko.com/en/coins/dmm-governance

My opinion about DMG...

It is just another token made with a smart contract, another one in the long list, each day we see more than 100 news of those. So, nothing innovative, nothing new, same kind of people waiting to sell their tokens to run with the investors' money.

i do not have enough time to have opinion on all tokens that are on the market, and this one is just one more token for the same service

it would be hard for them to make their way through competition and provide good value for users, do not say that it is impossible, but there are quite a few DeFi tokens, and competition is fierce at the moment, as well as opportunity behind DeFi market

DEFI is currently the talk of the market right now, everyone wants to get in any DEFI project, regardless of what such projects has to offer, $dmg is being shilled immensely for the past few days, take out your capital and profits and let the rest run just incase it turns out good. There will be a lot of scam DEFI projects that will roll out soon, scammers will want to take advantage of it, just be careful

I thought that it's just a bluff when the guy described that this project is backed up by Tim Draper. So, I looked for some evidence that says that it's a real thing and found this on cointelegraph.

Tim Draper Backed DeFi Project Up 140% Despite Troubled Sale

Despite that backing up by a known crypto personality. I don't think of it as something special or it has to be treated special. I'd go with the opinion of seoincorporation that it's just another erc20 token out of thousands we have already.

Quote from: batang_bitcoin on June 27, 2020, 02:21:48 AM

Exactly, just another hype and riding on the bandwagon of Defi which we have seen growing in the last couple of months. So developers and whales will go on create the supposedly new Defi used some personalities, in this case Tim Draper make a lot of noise and wait for the money to come in, rinse and repeat. I don't see anything unique and special.

Quote from: btc_angela on June 27, 2020, 03:26:35 AM

Quote from: batang_bitcoin on June 27, 2020, 02:21:48 AM

Yeah. This is the next new trend after ICOs, IEOs and other funding type in cryptocurrencies. We have been hearing a lot from it but I'm not interested on it because it's higher risk than the normal way of investing in crypto of buying and holding or trading what you buy.
I still don't find them interesting honestly but if there's something that will catch my attention and I see that returns and profits are viable, I might also join the jive for defi but for now, I see no point.

Quote from: seoincorporation on June 26, 2020, 07:57:05 PM

I agree with this one its just another normal project made in smart contract platform they are only claiming to lend money in real world ,which is they need to have proof with that with license if it's a true company . Lending is one of the good business you can have in real world and give a passive income to lenders but using a crowd funding to start that business will only benefit the project owner how investors can claim the interest of the money they invested in a form of token again?

With Defi making waves nowadays, many projects team will now hide under its wings just to get money from investors and that's it. My opinion on this is simple, and that is, I don't see much uniqueness in it, moreover just as stated it has features similar to certian projects that is to say there is every tendency it won't offer anything new. The backing of course is also another way to add hype to it so that it can boom for a while, but after that, what next? It's always good to be careful of most new projects whether Defi or not.

Nothing, I don't know but I don't see any innovative and something that can be a game-changer on this project, yes, it is growing but it just because of the hype and other than that, they are just following COMP so we'll see if they will do something more than that.

Quote from: seoincorporation on June 26, 2020, 07:57:05 PM

Also it is a project affiliated with JP Morgan who is criticizing cryptocurrency and bitcoin before. Now they are launching one? So hypocrite in my opinion. I think investors of this project are just purely using money for manipulating its price. No real product or whatever, as long as there is a trading they will hype it all the way. Gonna pass on this one.

Devi is hyped and at the moment every token linked to it will perform. I think this would be the right time to make some profit till the hype fades out.

DMG does not offer anything unique but if you want to cash it then invest and with the first sign of trouble move out of it. There will be many more tokens similar to it that will come in the future and they all will like to cash the hype, therefore do your research before investing.

Right now, DMG is on fire. Probably going to reach new ATH pretty soon. Cool

From the looks of it, DMG has a strong foundation and a good backing. Though we have thousands of this kind of project only a few have really good start and DMG is one of them. I think it will soar for a time being until the hype dies out. So better take part in the uphill ride and get off when you feel that it is losing its momentum.

IMO most of these DEFI projects spinning up right to left seems like a Ponzi, I might be wrong. Most of the people that got into it early are making a kill now and they need new set of investors to keep their scheme up and running. They should tell us the fail-proof businesses they are doing with the fund that guarantee that ROI. I watching the DEFI space from the sideline until I have clear picture

The current DEFI is like an ICO in 2017, everything is hyped up and I believe in the near future it will collapse like ICO. So be really careful when you want to invest in DEFI projects

Quote from: Zazzu on June 29, 2020, 05:24:52 PM

The current DEFI is like an ICO in 2017, everything is hyped up and I believe in the near future it will collapse like ICO. So be really careful when you want to invest in DEFI projects

Yeah but it still very young and full of potential right now so we can worry about it will collapse for later. Too much overthinking when the thing still hot and new could make you miss a lot of chance. We should start to recognize the pattern of a good DEFI project as well to recognize bad or just latch on the trend with nothing good.

Not listed on any prominent exchange yet.

Quote from: SpanishSoldier on June 26, 2020, 07:42:28 PM

Right now DMG is a hot DeFi project and I have seen a lot of people promoting DMG on twitter. So far the project looks genuine hence I invested a few bucks when the price was around $1.25

More than a month have passed since I created this topic. With 42m+ USD market cap, DMG is now more than 40 days old. There appears to be strong resistance at $1. What is your opinion now?