Define the (scam) DeFi.

[CucakRowo]

People should search and investigate about a successful DeFi project before investing in it.

Sorry for your loss. Well, after YFI price broke btc price, most ppl began to invest in yield farm coin. Most of them HOPING, that this new coin price can -at least- reach YFI price. But hope is just hope, finally most investors fall into projects that don't have a clear roadmap. Always DYOR before investing for long term and only use money yu can afford to lose. Still i believe, that DEFI projects (and its development) will have good prospects in future.

[1714952680]

1714952680

[1714952680]

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[1714952680]

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[Harriti]

I have never participated in masternode programs or farming campaigns at the moment. masternode projects are considered MLM and most of them are scams, we cannot trust them.
Right now we have a farming trend and it's really risky. Do I remember the interest rate for 1 year for the pair of SUSHI / ETH in Uniswap up to over 2300% in 1 year. That is too absurd interest rates and it is possible that this farm trend will collapse faster than the MLM trend in 2017. so be careful when speculating on these types of projects.

[chikator]

This is just me and im probably wrong but i find this safer, i tend to stay away from projects who switched to Defi midway. The projects who started not as defi but then changed, i think these guys are just riding the hype.

[SquirrelJulietGarden]

Sorry for your loss. Well, after YFI price broke btc price, most ppl began to invest in yield farm coin. Most of them HOPING, that this new coin price can -at least- reach YFI price. But hope is just hope, finally most investors fall into projects that don't have a clear roadmap. Always DYOR before investing for long term and only use money yu can afford to lose. Still i believe, that DEFI projects (and its development) will have good prospects in future.

Hoping or not. They have to look at total supply of the tokens they want to invest and hope its price will be high. The higher total supply, the lower price will be. With same total supply, the later born DeFi tokens will have lower price.

I have never participated in masternode programs or farming campaigns at the moment. masternode projects are considered MLM and most of them are scams, we cannot trust them.
Right now we have a farming trend and it's really risky. Do I remember the interest rate for 1 year for the pair of SUSHI / ETH in Uniswap up to over 2300% in 1 year. That is too absurd interest rates and it is possible that this farm trend will collapse faster than the MLM trend in 2017. so be careful when speculating on these types of projects.

It is not true to call masternode projects are MLM but I agree that most of them are scam projects. If you dig deep enough, you can see similarity between masternode projects and DeFi projects. The bad thing is DeFi projects look more attractive and more revolutionized technology for crypto world. People are more easily to accept scam DeFi.

[JeffBrad12]

Defi is a scam/bubble by design. Nothing can grow to +5000% naturaly even in crypto

If such grow has already happene due to the product that has already created and im still feeling finew about that but the problem was the defi was selling gimmick to the investors about APY for the investors to be able to farm more tokens and get a very very nonsense ROI. I would not say +5000% grow doesn't make sense but we should take a look at the reality from the Yfamily coins about how big it can grow even in a few days to reach +5000%.

Anything is not impossible in the crypto as long as it was getting hyped to make people and investors will blindly buy the tokens.

This is what we have called that as a bubble.

[Malam90]

Binance or other exchanges only care about their profit, so their behavior isn't strange at all. Users probably have to be more rational about this DeFi hype, mainly about locking tokens to get more tokens. It's like PoS coin hype in the past. It should be obvious, but I don't understand why the market seems to think this is something new.

The project may or may not legit, but they are significantly overvalued IMO.

Right, exchanges only care about their profits. They don't care about new trends DeFi 's negative aspects coming soon. As a investor, i have to be careful about the scenario that can happen. We have past experience and it is little warning before DeFi crash. Every overvalued DeFi project will blast soon.

[danherbias07]

Long list.
So it is real. They are just like ICO's before.
This is a big hit for them. It won't take long before investors starts to get bored about them. 

This is just me and im probably wrong but i find this safer, i tend to stay away from projects who switched to Defi midway. The projects who started not as defi but then changed, i think these guys are just riding the hype.

For obvious reasons. Yes.
A good project will stay on his line and not just because there is a hype on the other side.

[ice18]

Its the new trend in crypto this year the defi tokens hoping to earn huge and fast we cannot blamed these many people fall for this because of the current situation in the world because of pandemic everyone can try their luck but always dyor to avoid big loss I personally dont think all defi are scam still many are legit.

[r32godzilla]

I simply do not understand how projects like Year Finance or Sushi Swap could be so successful? The growth behind it is again made only on vision, but not only real basics.
Similiar situation to altcoin, ICO, STO, IEO and exchange token bubbles.

[Reid]

What a shitload of scams!
Are they trying to create a new record? If there is any? 

DeFi #1
ICO now at #2

It just proves something, IMO.
Stay with the oldies. Bitcoin, Ethereum, Litecoin. Stop the instant profit idea and just support the trustworthy.

[SquirrelJulietGarden]

Price of some DeFi tokens are decided by 20, 50 or 100 times from all time highs. DeFi investors have lost money too easily. Developers and early investors should earn huge profits. Bounty hunters are winners too. As 400 airdropped UNI tokens.

[Gvent]

I do not see anything surprising in the fact that scammers copy popular projects in order to deceive investors and traders.
it's time to get used to checking contracts and addresses to which you send investments and coins that you buy
at the slightest doubt
 it is better to refuse the deal

[South Park]

And don't forget to add $SUSHI this is the trendy one, got listed in Binance and CZ make a tweet about it.

Yes, but if the $ SUSHI token has been proven to be a scam, then Binance will also remove $ SUSHI from their list, because as far as I remember, Binance has never maintained junk tokens on their exchange.

Do not rely on a third party to protect you from scams, that is just the wrong way to go about it, you need to be proactive in your approach and if you even the smallest suspicions that a coin is a scam then you need to stay away from it otherwise by the time you try to get your money out of the coin then it is too late, and while binance does a good job at trying to eliminate scams from the list of the coins they offer to their clients is too naive to think they will never mistakes.

[totoy4741]

I don't see any special in any defi projects I have gone into, most of them have plain and simple approach to their plans, I just don't know in other big time Defi projects. Like CZ said that Defi projects are not for long time investments yes it might give you a quick and big profits but not in a long run.

[Slow death]

And don't forget to add $SUSHI this is the trendy one, got listed in Binance and CZ make a tweet about it.

Yes, but if the $ SUSHI token has been proven to be a scam, then Binance will also remove $ SUSHI from their list, because as far as I remember, Binance has never maintained junk tokens on their exchange.

it seems to me that CZ will not want to remove $SUSHI from its exchange and this subject is already generating a noise of great magnitude:

OKEx CEO slams Binance’s Changpeng Zhao for promoting questionable DeFi projects

I thought that after this criticism made by the CEO of okex it would change something, or at least I expected some reaction from Binance, but there was no reaction from Binance which shows that Binance will not remove the $SUSHI

[Gvent]

I don't see any special in any defi projects I have gone into, most of them have plain and simple approach to their plans, I just don't know in other big time Defi projects. Like CZ said that Defi projects are not for long time investments yes it might give you a quick and big profits but not in a long run.

could you please name any new projects that would make sense in the long term?
all of them are pacifiers that are needed for a one-time/two-time price jump
aurther, such projects are scrapped

[alicea]

If you ask me most of the YFI fork coins are scams that are either rug pulling in the beginning or doing an exit scam later. There are hundreds of YFI fork out there and, none of them are doing anything unique, not even a whitepaper even there dev are anonymous.

[plvbob0070]

I do not see anything surprising in the fact that scammers copy popular projects in order to deceive investors and traders.
it's time to get used to checking contracts and addresses to which you send investments and coins that you buy
at the slightest doubt
 it is better to refuse the deal

The number of scam projects will continue increasing as they follow and imitate popular projects. It makes it easier for them to deceive the investors if their self-made website, apps, and even the information they sent on the email are indistinguishable. That is why we should be unhasty in our actions, carefully thinks before making a decision, especially when it comes to investment. To evaluate the credibility of the project, you should inspect every detail about the project and ask your fellow members in the forum to conceive a better idea. With the number of similar projects, you better keep an eye on the project team and see all of their updates.

[JahriMeayer]

Just wonder seeing defi hyip! People especially New comers consistently investing on scam defi project. I found some new project claimed to belongs to defi, don't have any annonucment thread, no white paper. but even though people throwing their money on those project, so that they could have some good return. Some projects pretend like defi, selling their token by ICOs! And unfortunately people trust them & get scammed.

[luckyflop]

I believe there are more than that , we just see the top of the ice burg, Every day we hear some exchange got hacked or they find some bug in some token, as far as I know, everything is hackable in the computer it is just matter of time and techniques for someone to be able to do that , I just try to keep my money in a cold wallet, never keep my money in exchange.