Do not fall for all DeFi HYPES

[Crypto_lion]

I definitely agree with what the OP has to say regarding this matter. This resemblance is much like the crypto boom of 2017 and everybody is going crazy about defi coins. If you are not sure about the project it's best to stay away.

[Apostlekin$$$]

Make sure the DeFi project you will invest on will be big and have popular confirmed partnerships, I believe that's something scammers can't pull, know how you do research and you will be saved.

[celemoore]

Make sure the DeFi project you will invest on will be big and have popular confirmed partnerships, I believe that's something scammers can't pull, know how you do research and you will be saved.
[/quote]

Absolutely necessary, those partnerships must be confirmed by the other party as scammers can just add names of big projects falsely and some investors won't check it's authenticity

[Natalim]

Good advise from OP, but this is what we need to make this market bullish again, something new that would hype people to invest again.
The way I see it, DeFi projects are really attractive, but there's always a risk that we can invest on a scam ones, so being careful is always necessary all the time.

DeFi will be big this year for sure, and the market is bullish now and that is one of the reasons.

[Kotone]

What will happen is they will create fake project that outline defi application and purpose now people will be tempted to participate knowing its a defi project. We all knew how much profit is rolling on defi hot tokens. Like this project Plutus, their sale ended fast and some did not managed to get their tokens or purchased. The token pump on uniswap and right after a crazy pump, it dumped. Now there are many holders who got rekt a lot of money.

Be careful on defi hype. Some are legit but many will planning to do a scam one. Of course this will never gone.

[Gunday_07]

Lately, there is a craze regarding DeFi projects. Looking at the solutions being brought into light which is basically to leverage decentralized networks and to transform old financial products into trustless and transparent protocols which is able to run without intermediaries. However, scammers will use this hype to their advantage as well. Do your research carefully before investing in any project, hype or not. Do not fall for just any project which claim to be DeFi projects. We are so excited that we may forget ourselves and just looking forward to the profit if the value of the token increases. Let's not let our guards down as we are not in normal times. God bless!

Thanks for sharing this warning and few posts are already up on this forum saying the same thing, it's good to see members of this forum having their backs, newbies is the main reason why this post is important, newbies are the ones who patronized scam projects due to lack of knowledge

[miklesm]

This DeFi hype is similar to ICO hype in 2017. The most ICOs are giving huge profits, but scammers want to earn money as well. So they begin to launch fake projects which will likely to kill the hype as people will lose their funds.

[matchi2011]

Good advise from OP, but this is what we need to make this market bullish again, something new that would hype people to invest again.
The way I see it, DeFi projects are really attractive, but there's always a risk that we can invest on a scam ones, so being careful is always necessary all the time.

DeFi will be big this year for sure, and the market is bullish now and that is one of the reasons.

Inside any investment, there's risk that we need to assess if we can handle in case that bad outcomes take place, you have to think over
and over before you full invest your money, ot because hypes are ongoing then you should take the ride, you need to remember that it's your hard labored money that you'll going to use so be very careful following the hypes.

[huu78]

Lately, there is a craze regarding DeFi projects. Looking at the solutions being brought into light which is basically to leverage decentralized networks and to transform old financial products into trustless and transparent protocols which is able to run without intermediaries. However, scammers will use this hype to their advantage as well. Do your research carefully before investing in any project, hype or not. Do not fall for just any project which claim to be DeFi projects. We are so excited that we may forget ourselves and just looking forward to the profit if the value of the token increases. Let's not let our guards down as we are not in normal times. God bless!

indeed in the current pandemic, we must also be careful to invest in the DeFi project, because some scammers take advantage of moments like this.
I hope we are kept away from the garbage project that only uses the name DeFi for the current hype, hopefully, we are given an abundant profit when we stay at home and do in-depth research then take the risk.

[Wingsbtc]

DeFi projects are very profitable presently, I have invested in two Defi projects presently and ive make my ROI just in a week, I know many new DeFi projects will come, without the proper analysis you may be a victim, as for me I don't have a problem investigating scam projects

[stadus]

Lately, there is a craze regarding DeFi projects.

There's a craze because it's currently the best investment, is it safe? not for all projects as there are scammers everywhere.
However, if we like to find great projects, we can always check the projects on the list. https://coinmarketcap.com/defi/

Looking at the list, most of them have significant increase, and their trading volume is also very liquid, that is not a quality of a scam.
Well, you are right, we still have to be careful but it's okay to fall for DeFi HYPES as long as it's legit.

[asder250]

Did you see what Quarkchain is developing right now? The most advanced Defi what I have ever seen! To develop such solution they cooperated with NUTS finances. More information you will find in this article: https://medium.com/quarkchain-official/building-the-next-generation-of-defi-network-9a5582d487d6

[Pecunia non olet]

Vitalik Buterin warned crypto enthusiasts that they shouldn´t invest more into DeFi protocols more than they can loose. Look what happened to the bZX and Bancor smart-contract and DeFi protocols in the past months.

[Saisher]

I hate to say this but scammers will now have something to play and work with, they have done it in ICO and giveaways now we need to be very careful on how we look all these new DeFi projects that are coming up, I am now researching this Decentralized Finance and what to look and what are its strong point people should do the same.

[bigcash2011]

Lately, there is a craze regarding DeFi projects. Looking at the solutions being brought into light which is basically to leverage decentralized networks and to transform old financial products into trustless and transparent protocols which is able to run without intermediaries. However, scammers will use this hype to their advantage as well. Do your research carefully before investing in any project, hype or not. Do not fall for just any project which claim to be DeFi projects. We are so excited that we may forget ourselves and just looking forward to the profit if the value of the token increases. Let's not let our guards down as we are not in normal times. God bless!

I have seen even irrelevant projects claiming to be developing DeFi products just to take advantage of this hype, do you believe even cmc listed Busd as number one defi coin lol after criticism they removed it but seems like every project wants to take benefit of this hype so the community needs to be more careful.

[Rodeo02]

I hate to say this but scammers will now have something to play and work with, they have done it in ICO and giveaways now we need to be very careful on how we look all these new DeFi projects that are coming up, I am now researching this Decentralized Finance and what to look and what are its strong point people should do the same.

if you look at bounty and announcement thread you can find many of them just started to create this defi project trend.

Its hard for now to review a project that also give new ideas for everyone so it takes time for bounty hunters to know important aspects about the defi project and how we can know if a project is scam or not.

[jerrison]

Lately, there is a craze regarding DeFi projects. Looking at the solutions being brought into light which is basically to leverage decentralized networks and to transform old financial products into trustless and transparent protocols which is able to run without intermediaries. However, scammers will use this hype to their advantage as well. Do your research carefully before investing in any project, hype or not. Do not fall for just any project which claim to be DeFi projects. We are so excited that we may forget ourselves and just looking forward to the profit if the value of the token increases. Let's not let our guards down as we are not in normal times. God bless!

it is true that every transaformation comes with pros and cons but then people should be alert enough to comprehend which is coming with a real intent and those who aren't. continue to follow every project in sight with intensive research to uncover any hidden agenda, (if there be any). DeFi is the new banking system but can as well be the reverse if no research is done.

[InwardContour]

Many investors nowadays once they see DEFI as project description, it's a must buy for them even without doing any form of research. Too many scam projects keep launching on telegram, some running away with investors funds at private sale stage while others list on Uniswap and dump on investors. Let's be wise when investing in any DEFI coin, like OP clearly stated "scammers are using the DEFI hype to their advantage" to scam gullible investors.

[bittick]

This DeFi hype is similar to ICO hype in 2017. The most ICOs are giving huge profits, but scammers want to earn money as well. So they begin to launch fake projects which will likely to kill the hype as people will lose their funds.

I think so but this is much more different like what happened with the ICO hype. ICO hype has been filling with so many speculations about the future of project while DEFI is focusing on the what benefit from the product that has already created by the developers.

[yazher]

Not only this one but the other project that came up with successful sales with their promising road maps. Scammers often copy their idea to lure people to invest in their scam project which is obviously not real if you know how to carefully investigate and read their whitepapers. Mostly those scammers are only plagiarized the whitepapers of some legit project from word to words. But this time, they are now aware that they can be easily tracked if they don't change their strategy. more often they just changed some words and sentences, that's why we need to be vigilant by not being excited when we see some promising project.