Be careful with crypto news (DEFI with Y)!!

[coboguard]

Currently, we are all concerned with an incredible escalation of (DEFI with Y) the new cryptos of the future like (yearn.finance) several projects are currently in progress or in creation, But today I fear a huge scam that will happen because the prices suddenly explode so that doesn't even have an exchange or liquid just a pump going up and going down


FOMO
https://coinmarketcap.com/en/currencies/yearn-finance/
https://coinmarketcap.com/en/currencies/yflink/
https://coinmarketcap.com/en/currencies/yearn-finance-ii/
https://coinmarketcap.com/en/currencies/definance/
https://www.coingecko.com/en/coins/zzz-finance
https://www.coingecko.com/en/coins/yffi-finance
https://www.coingecko.com/en/coins/yield-farming-token
https://www.coingecko.com/en/coins/yfvalue
https://www.coingecko.com/en/coins/yam-v2 old V1 example crash https://coinmarketcap.com/en/currencies/yam/ new version V3


How can Uniswap accept this thing?
How could the price beat bitcoin in a matter of days?
The next one that will look like bitconnect?


--What do you think ?--

[sujonali1819]

How can Uniswap accept this thing?
How could the price beat bitcoin in a matter of days?
The next one that will look like bitconnect?

How can Uniswap accept this thing?

All are looking for money. If you want to a high listing fee then nothing impossible here. And maybe this is happening to uniswap.

How could the price beat bitcoin in a matter of days?

A huge FOMO are happening recently around crypto markets about the word DeFi. So any project related this name means a huge hype and people are blindly trusting them. Also these projects critically setup lower total supply so that they can beat bitcoin and all the investor follow them more than others.

The next one that will look like bitconnect?

I was thinking before seeing this line that maybe we are very close to see the scam like bitconnect. Yes, it's very possible to another bitconnect exit scam.

[TalkStar]

Currently, we are all concerned with an incredible escalation of (DEFI with Y) the new cryptos of the future like (yearn.finance) several projects are currently in progress or in creation, But today I fear a huge scam that will happen because the prices suddenly explode so that doesn't even have an exchange or liquid just a pump going up and going down

There is no way to deny that scammers are heavily using the word DEFI and through this they are planting their scam traps. Actually we can't do nothing but revealing DEFI related scams or increasing awareness among investors where most new investor run after this type of project after seeing the name only. Even they don't feel it necessary to spend little amount of time before investing their fund. Its nothing new that scammers will take the advantage of any rising circumstances but investors have to be careful from their end otherwise like past scammers will fill their pocket with easy money.  

A huge FOMO are happening recently around crypto markets about the word DeFi. So any project related this name means a huge hype and people are blindly trusting them. Also these projects critically setup lower total supply so that they can beat bitcoin and all the investor follow them more than others.

With limited supply its easy to create hyip on the market but hard to keep the price stable for long time. Personally i am not interested to make their comparison with bitcoin where a limited holders will get benefited before the price crash.

[JeromeTash]

Currently, we are all concerned with an incredible escalation of (DEFI with Y) the new cryptos of the future like (yearn.finance) several projects are currently in progress or in creation, But today I fear a huge scam that will happen because the prices suddenly explode so that doesn't even have an exchange or liquid just a pump going up and going down

I don't know if you were following crypto in 2017 but this is kind of simillar to the Ether token trend back then when Ether started making headlines. we would have scam tokens like ethereum Dark, ethereum blue, EBTC, EBCH, Ethereum lite all spike in price but with no real project backing behind them. What happened later would teach a lot if newbies lessons back then never to throw money on random tokens anyhowly.

How can Uniswap accept this thing?

That's the cost of decentralization. there is literally no one in control of what gets listed there just like EtherDelta in the old days.

[asriloni]

How can Uniswap accept this thing?

Uniwap is not the same as CEX and it was not doing any verification or audit and the listing process is almost similar with the another dex. It's not so difficult to do that.

How could the price beat bitcoin in a matter of days?

As some member stated above if it caused by FOMO or yield farming. These crap finance platforms were offering non sense yield farming for the stakers. I know some that were offering more than 10k APY.

The next one that will look like bitconnect?

those projects already similar to the bitconnect and becareful with those defi. Some defi has been putting the backdoor to make the contract deployer will be able to take all of liquidity pool. I call this the evolution of Ponzi project. Stay away from this.

[shaheer001]

Very good topic the Defi scam is increasing day by day and mostly traders don't search to expose the scam Defi project.I will personally suggest do research for any Xcrypto project especially defined Y series.

[cryptoaddictchie]

How can Uniswap accept this thing?
How could the price beat bitcoin in a matter of days?
The next one that will look like bitconnect?

Ever heard the term decentralized. Why would uniswap, refuse some tokens to get listed? Its against their protocol, what they need is improvement and some sort of barrier to avoid scam projects and filtered them in such way investors would somehow feel relieve from being scammed.

Price could beat bitcoin due to its supply, take a good look on the supply, all of it are actually with almost limited stock. They are yield farming platform. They getting some profit to it, so people are keep buying it.

[cryptoknightt]

I also doubt, but after Binance listed YFI, did we not hesitate, then there was another news that Binance listed Yfii coins, like a gang with the same name but a different name. Did Binance do this on purpose?
or whether their project is recognized by Binance.indeed many say that the coin with the initials Y is coin farming to do hype and the like.
we don't know this wheel will last long or a moment.

[elda34b]

I'm also surprised that Binance take those coins seriously. It looks like they're trying to take a share of the pie quickly before it dies. Hopefully no one will be stupid enough to continue believing in some copy-cat project and pump it continuously.

[Bitbtc8]

I also doubt, but after Binance listed YFI, did we not hesitate, then there was another news that Binance listed Yfii coins, like a gang with the same name but a different name. Did Binance do this on purpose?
or whether their project is recognized by Binance.indeed many say that the coin with the initials Y is coin farming to do hype and the like.
we don't know this wheel will last long or a moment.

Just because binance list the token doesn't mean it's a genuine project, if something goes wrong binance will delist the token from its exchange, investors are just so unbelievable, a token that came out of nowhere costs over a thousand dollar and you invest, it's obvious you know.

[SquirrelJulietGarden]

They all think of profit after one night sleep. Is life too easy as that? It is easy to get profit in bull market but the problem is if they get profit that way, they will not be able to control their actions and lose all profit and capital after the crazy market ends.

Only people who know to stop will be able to keep profit. Most of them don't stop and they will end with capital loss, not only profit loss.

Not too long ago, this year the market dumped Bitcoin to below $4000 and people feared it will be dumped to $2000. Now we see many un-tested tokens have value more than $3000 and YFI has its all time high value x3 of Bitcoin price. Those tokens are promising as people believe in but how do we see so many potential projects in short time? This question answers all about the scam trend.

[Serco]

It's unbelievable the rate at which Defi with Y is trending right now. Every Defi projects with Y tends to move up quickly these days, myself I am tempted to invested in any Defi projects with Y now to make some quick cash in a short term but the truth is that all these hype will disappear within a twinkle of an eye, we need to be careful of these Defi of a thing.

its purely a speculation for each investors,i my opinion in Y project there is nothing special there moreover uses case. at this moment every eyes focus on Y project that could rise extremly only in few days.  buble will coming to this kind project and investors will start complaining that they suffer lot loss later.

[Akoldi_ibk]

DeFi is the big thing for this crypto season and everyone is trying to take advantage of it including scammers. I was surprised when big exchanges were listing the Y family at no cost just for them to have their own share of the cake. There are genuine DeFi projects making their marks in that ecosystem and that have been around for some time now. Whereas there are others with just two weeks of hype claiming DeFi. Care must be taken for whoever wants to have his share of the cake because everything can disappear into thin air in no time.

[jossiel]

What if the fall that we're experiencing is, there's a big contribution from these defi's y projects? what if most of the tokens were sold to bitcoin and then was sold to fiat?

We are in the same year where there were too many ICOs making projects and dumping it after the sale. Investors of defi will start to learn after witnessing this dip from $12k and as we look to the price of bitcoin, it's $10k and can possibly go under it.

[Chuky92]

Currently, we are all concerned with an incredible escalation of (DEFI with Y) the new cryptos of the future like (yearn.finance) several projects are currently in progress or in creation, But today I fear a huge scam that will happen because the prices suddenly explode so that doesn't even have an exchange or liquid just a pump going up and going down


FOMO
https://coinmarketcap.com/en/currencies/yearn-finance/
https://coinmarketcap.com/en/currencies/yflink/
https://coinmarketcap.com/en/currencies/yearn-finance-ii/
https://coinmarketcap.com/en/currencies/definance/
https://www.coingecko.com/en/coins/zzz-finance
https://www.coingecko.com/en/coins/yffi-finance
https://www.coingecko.com/en/coins/yield-farming-token
https://www.coingecko.com/en/coins/yfvalue
https://www.coingecko.com/en/coins/yam-v2 old V1 example crash https://coinmarketcap.com/en/currencies/yam/ new version V3


How can Uniswap accept this thing?
How could the price beat bitcoin in a matter of days?
The next one that will look like bitconnect?


--What do you think ?--

The whole matter looks strange to me, because I even tried to imagine the length of time it took Bitcoin to be valuable, trusted and so on, but these ones all of a sudden comes out, starts pumping and people couldn't get enough of them because they keep going for more of them. Also, as for Uniswap, I would say the team behind the exchange are just trying to get their own share of everything thus not bothering about auditing the projects they list. Same is with the people chasing after all these projects, they don't care of what the project offers so far they can get their own share. So one can see, on one hand, Uniswap cares only about the gain same with the investors but on a more serious note, only the team of that project makes much gains while deciding the fate of all investors.
Lastly, I wouldn't say it's like bitconnect but however, people need to take a break and ask themselves questions about all these projects they are investing in.

[Twinkledoe]

It's unbelievable the rate at which Defi with Y is trending right now. Every Defi projects with Y tends to move up quickly these days, myself I am tempted to invested in any Defi projects with Y now to make some quick cash in a short term but the truth is that all these hype will disappear within a twinkle of an eye, we need to be careful of these Defi of a thing.

its purely a speculation for each investors,i my opinion in Y project there is nothing special there moreover uses case. at this moment every eyes focus on Y project that could rise extremly only in few days.  buble will coming to this kind project and investors will start complaining that they suffer lot loss later.

The fall of these Y projects is forthcoming. The original YFI has no working platform and yet they are having that incredible price. From where they are getting that kind of pull? Nowhere? So be careful with these Y projects, their failure is very imminent. No use case, empty foundation, you know where they are heading at...

[ampere]

Instead of selecting a few tokens to be careful of, i would say be careful of crypto currency projects. As an investor or a trader, understand the reasons why you are investing in seperate tokens. As regards defi, defi is normal just like crypto currency decentralization is normal, don't let the name of any project deceive you, nobody cares about the name.

Do your research well, buy, sell in profit and move on. Do not allow sentiments in anything you do with crypto currency.

[thesmallgod]

It is the season of defi everyone wants to make money and this has lead to an incredibly insane project YFLINK does not even have a properly functional website yet the token has reached the highest price above $1000. The same thing with Dfinance although the project is not being tracked by some of the coin market analysis websites. I believe this will spoil reputation of some exchange platforms that people have strong trust in them for not listing scam projects.

[SquirrelJulietGarden]

If you find any similarity between DeFi projects and scam projects from the stake - masternode trend, please be cautious with your investment in DeFi group

Define the (scam) DeFi. It is never late to wake up.

[qiwoman2]

There are now a lot of clones and to be honest I have sold the majority of my UNISWAP holdings now and just got a couple of coins left that am holding for long term. The fees on uniswap are too high and even though ETH gas has gone up UNISWAP is really taking advantage and all the coin flippers hoping to make millions form copy cat clone YFI sites. I am done with my experiment on UNISWAP and will look at more serious DeFi investments to invest in like AKRO for example..So will leave all the ETH fees for others to pay. I now am going to back to investing in long term serious projects with serious investors. My experiment on Uniswap lasted around 17 days was fun but enough is enough.