(DEFI) YAM! YAM! YAM! a scam?

[Alert31]

It looks like a a pump and dump project to me or the team aren't crypto experts to begin with, this kinda mistake says it all, investors need to be more careful around DeFi projects, any project will take advantage of the hype surrounding DeFi project

For me, they lack of good marketing strategy and in order to attract investors they need to do pump and dump. Many project use that strategy if they have difficulties in marketing.

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[Romeotom]

The project was bad so they scammed but in that case there is no chance of defi ruining. This year many defi projects have taken place in the minds of investors so it is not necessary to go blind and invest in all defi projects. Before investing in any project, do your own research and see if there is anything suspicious in them,  and then leave that project and don't come forward to invest by mistake.

[electronicash]

there is a Yam v2 right now which is also added to some exchanges and of course uniswap. the price is $14, this is really climbing up fast which from the first it dropped to less than $1. if you have joined to them while the price hit the bottom i guess you already earned a lot right now. its still unsure what this yamv2 if this is already audited, i hope it is or it may happen again and its really going to be this funny if Yamv3 will come up again.

[BChydro]

For me, they lack of good marketing strategy and in order to attract investors they need to do pump and dump. Many project use that strategy if they have difficulties in marketing.

This is exactly the type of projects everyone should avoid, the pump and dump shit is what gives the market a bad reputation.

If it was open source and allowed developers to find bugs and investigate its code, the dumping of YAM might not ever happen. None of us can tell whether the team did it on purpose for early check out but this sure isn't a victimless crime. Money is lost from invetors because they are careless in launching a product. Its a scam and the crooks are going to blame the line of codes to get away with it. Yaaam

It is true that they should have done the testing before releasing the platform, i do not think that the team could identify the flaw and let others to dump the coins.

there is a Yam v2 right now which is also added to some exchanges and of course uniswap. the price is $14, this is really climbing up fast which from the first it dropped to less than $1.

I was not aware of this development that they sorted their technical issue and released the fix and i thought it will be hard for them to get the hype but if the price already rallied to $14 it is not a small pump.

[2double0]

DeFi is all about quick profits nowadays as every coin adding a tag #defi makes a hype in the market and trends among investors which opens it to huge gains like YFI did, but I doubt that this will end even worse than what we saw in 2018. This is becoming a dream come true for many and till we have the chance, we should wash our hands in the flowing river.

[saint_casanova]

Many coins, whether it's DeFi or others, when they first enter the exchange their value is so large, but over time it will decrease and even touch the $0 mark.

I think it is commonplace, maybe there are some whales who pump the coins to keep going up, then after they get the target they want, the whales will sell all of their coins without leaving a single bit in their bag.

That's a project that is made for hype when people buy and hoarders will waste a lot so that the liquidity in the market becomes small, therefore many projects like this happen and in the end their products die no longer so that projects like this are very dear.

Yes and since the new DEFI project usually causes up a lot of hype at the start, this effect like you two said even become bigger which crashing down harder at later. Such a common behavior of a new project. DEFI or not.

[Lizzylove1]

A lot are happening in this Defi madness hence I have chosen to play low and hold better projects than running and beating the air. I wonder what will happen when Yield finance crashes. A lot of investors lost out o Yam1, they now have Yam2 I hope nothing go wrong with Yam2, it's another crazy year filled with HYIPs.

[shinratensei_]

there is a Yam v2 right now which is also added to some exchanges and of course uniswap. the price is $14, this is really climbing up fast which from the first it dropped to less than $1. if you have joined to them while the price hit the bottom i guess you already earned a lot right now. its still unsure what this yamv2 if this is already audited, i hope it is or it may happen again and its really going to be this funny if Yamv3 will come up again.

YAM V2 has gotten a  lot of increase due to the decrease in the total supply from YAM V1.

If you were watching the CMC and then the total supply of YAM V1 was around 30 million YAM V1 but it can be seen on etherscan if YAM V2 has no more than 4 million YAM V2 as the maximum supply.

If YAM V3 will be released by the developer and the total supply of YAM V3 will be less.

[Romeotom]

A lot are happening in this Defi madness hence I have chosen to play low and hold better projects than running and beating the air. I wonder what will happen when Yield finance crashes. A lot of investors lost out o Yam1, they now have Yam2 I hope nothing go wrong with Yam2, it's another crazy year filled with HYIPs.

It would be foolish if someone continues to invest in YamV2, obviously this is just a scam project and is trying t osteal investors' money. Defi is good but there are a lot of scammers taking advantage of it, we need to be really careful when investing in this market.

Research can be a tool for all investors. The defi project should not be what investors want to invest in all the projects and I think it is better not to invest in all the investors who have such ideas. It is the responsibility of a strong investor to research everything about those projects how they have truly entered the crypto market.

[Inkdull]

What's up with the YAM V1 , YAM V2 and upcoming YAM V3 ? This is real stupidity from a new project, I hate token swaps apart from mainnet, this is the reason I will never be interested in such project, ESH did same thing and today it's useless, it's original name was Ethershift and turned Switch and now team are saying they are going another name too, what's all this have to do with project use case?

[GreenStox]

there is a Yam v2 right now which is also added to some exchanges and of course uniswap. the price is $14, this is really climbing up fast which from the first it dropped to less than $1. if you have joined to them while the price hit the bottom i guess you already earned a lot right now. its still unsure what this yamv2 if this is already audited, i hope it is or it may happen again and its really going to be this funny if Yamv3 will come up again.

YAM V2 has gotten a  lot of increase due to the decrease in the total supply from YAM V1.

If you were watching the CMC and then the total supply of YAM V1 was around 30 million YAM V1 but it can be seen on etherscan if YAM V2 has no more than 4 million YAM V2 as the maximum supply.

If YAM V3 will be released by the developer and the total supply of YAM V3 will be less.

I think even though making the new version people will still hesitate because of an error that occurred in version 1, but who would have thought that Yamaha v2 would also be in demand, hopefully the bugs in v1 do not occur in v2, and cause the defi project to become bad.

[Skinny48]

I can't trust this project because the stupid mistake that occurs in the first version is unacceptable, it reveals the fact that the team aren't capable, they aren't professionals either, would have invest if it's IEO and dump for gains but invest and hold? No can't take such heavy risk.

[wack slacker]

Right now they have allowed converting old tokens into a new one called YAMV2. YAM's DEV team made a mistake and they corrected it. I think the crypto market is too small to have enough liquidity for it all. I still think YAM is still a good project in the future.

[Iyeman]

I can't trust this project because the stupid mistake that occurs in the first version is unacceptable, it reveals the fact that the team aren't capable, they aren't professionals either, would have invest if it's IEO and dump for gains but invest and hold? No can't take such heavy risk.

The problem that has already occurred in YAM V1 was more than enough to show the capabilities of the team.

I have heard that there will be the next swap from V2 to the V3 and that looks so crazy to hear that. How can the developer was controlling the token like this? it's just like pundi token that was keeping its price from playing the total supply through doing so many swap. YAM is the worst thing to be considered as a long term investment

[leea-1334]

YAM V2 has gotten a  lot of increase due to the decrease in the total supply from YAM V1.

If you were watching the CMC and then the total supply of YAM V1 was around 30 million YAM V1 but it can be seen on etherscan if YAM V2 has no more than 4 million YAM V2 as the maximum supply.

If YAM V3 will be released by the developer and the total supply of YAM V3 will be less.

For me,,, only in this crypto space can you find the crazy people who, after losing everything in V1 will go to V2 when it is PROVEN that the team behind Yam are people who do not care about security to even do smart contract audit.

But well, this is crypto.

[Ceyflix-Rez]

This project has no reputation left since they've messed things up themselves, can't be trusted and now there is different versions of the project, something that looks untrusty and not reliable too, I will pass by

[Divinespark]

there is a Yam v2 right now which is also added to some exchanges and of course uniswap. the price is $14, this is really climbing up fast which from the first it dropped to less than $1. if you have joined to them while the price hit the bottom i guess you already earned a lot right now. its still unsure what this yamv2 if this is already audited, i hope it is or it may happen again and its really going to be this funny if Yamv3 will come up again.

YAM V2 has gotten a  lot of increase due to the decrease in the total supply from YAM V1.

If you were watching the CMC and then the total supply of YAM V1 was around 30 million YAM V1 but it can be seen on etherscan if YAM V2 has no more than 4 million YAM V2 as the maximum supply.

If YAM V3 will be released by the developer and the total supply of YAM V3 will be less.

I think even though making the new version people will still hesitate because of an error that occurred in version 1, but who would have thought that Yamaha v2 would also be in demand, hopefully the bugs in v1 do not occur in v2, and cause the defi project to become bad.

This is a failed project and they have lost confidence in the investors, I believe no one will invest in the next version of this project. Obviously they are just scammer and are trying to steal money from investors

[ecnalubma]

The pump and dump, its a common scenario in crypto yet another batches of investors had been crashed who had bought from the top. That’s the risk of riding with the hype you will never when will it pop, lucky to those who dump their stash at the right time.

[ije07]

It's ironic after seeing how bad the YAM project is, this ponzi scheme is real and I hope at the same time someone still has a chance to sell all the YAM coins and not get caught up in the scheme. you can imagine after pumping $ 167 to $ 11. I think this is living proof that investing in Defi is very risky.

[fosco333]

What more strange is, YAM project is listed on the top 10 DeFi projects on some rating site.
We should more careful about new DeFi projects because many projects has turned into DeFi project to get more investors.