Define the (scam) DeFi.

[Gvent]

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.

I am also sure that as the popularity of DeFi projects grows
 there will only be more scammers
already now we can say with confidence that somewhere 30-40% of new projects are created only with the aim of deceiving investors

[SquirrelJulietGarden]

What do you think if you look at the price change table? The table image is taken from DeFI hyip is over?. DeFi is a risky party at start and after weeks (about a bit more than 1 month) you can see how risky it is. The party is almost over.

The median and average changes (in percentages) of all DeFi tokens in the list are around - 60 %. Remember it is negative 60 % and many of them have higher decreases perecent, up to more than 90% negatively.

[kotajikikox]

Scam DeFi trend
Let's define it with the images
https://defimarketcap.io/

Is the crypto community getting lost again?
Be careful with crypto news (DEFI with Y)!!
(GUIDE) How to trade on uniswap correctly
DeFi scams (history)

why Does Hotdog wasn't listed on the above?i have read a thread that tackles about that as a scam project from defi,i just can't dig it up to link here.


But thank you so much for this thread at least Like Bitcoin forked scams few years back now we are advanced advised how to prevent from being victim.

There are some of these coins listed that continue grows after you posted this but now?when october comes by those project dumps as well and now covered with red blood colors.

[piebeyb]

since YFI came appear other came with the same name just added some Y symbols, it's all like the old tricks copying the previous work, I'm sure it's the same people, they rely on uniswap to get the market like hotbit and others, so easy to add tokens such a scam, I also continue to campaign for all of my society to avoid this kind of defi token, I believe the staking system will never last long because before it was busy a few years ago it already existed but just disappeared

[GreenStox]

but you put so many names on a scam defi project, can you prove it's a scam?
I see there are more than 50 projects, and in fact some of them have been around for quite some time before even Fomo Defi appeared.
You have to prove that what you say is true, it is true that many projects only take advantage of the current hype defi, but some are really developing and have their own vision and hype is just a bonus because market conditions are like that today.

[SquirrelJulietGarden]

but you put so many names on a scam defi project, can you prove it's a scam?
I see there are more than 50 projects, and in fact some of them have been around for quite some time before even Fomo Defi appeared.
You have to prove that what you say is true, it is true that many projects only take advantage of the current hype defi, but some are really developing and have their own vision and hype is just a bonus because market conditions are like that today.

No. You did not see what I am trying to give readers.

You can see two lists:
- List of DeFi tokens
- List of stake / masternode coins

Then try yourself to scan and find out how many of them try to fork or replicate of each others. Forks, replications, reproduction of coins, tokens, project names are a good signal for scam trend.

If you use Metamask, you would know they automatically block all new tokens that have UNI in token names. It is good and this time Metamask reacts fast enough to prevent scam tokens.

[tabas]

There's a lot of them, defi, stake coin and still ICO projects.
An investor should be vigilant in investing and it's not just all about the profit. But you need to think of investing first if you are with the legitimate project.

[LogitechMouse]

DeFi #1
ICO now at #2

This just shows that "History repeats itself" . The famous quote in crypto especially in Bitcoin.
The DeFi hype that we are experiencing right now is the same as the ICO hype back in 2017.
Many DeFi projects will stay but most of them will end up being a deadcoin, a shitcoin or a scam coin. Either way, I will avoid investing into them at all costs.

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

This is why I don't invest into new projects. I like to invest into old coins like the ones you just said. Trust over profit works for me. Sad for those who got scammed or incur some losses investing into these DeFi projects.

[casperBGD]

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

This is why I don't invest into new projects. I like to invest into old coins like the ones you just said. Trust over profit works for me. Sad for those who got scammed or incur some losses investing into these DeFi projects.

i do not agree, everyone has his view regarding investment and goals are defined based on that
staying with LTC would not bring much, IMO, and than maybe it is better to stay out of crypto as well

i do not recommend investing in DeFi, especially if you do not know what it is about, but there are some really unique DeFi projects, worth of investment, and as always there is a lot of scam involved, make your due diligence, risk reward ratio calculations, analysis and then head to investment, without that it is better to stay away, than to stay with some top known altcoins, that could stay where they are for years, without any development

[SquirrelJulietGarden]

Scam DeFi season is over and the market is on bitcoin season. 

[Winscosinally]

I've tried to warn many offline and online about DeFi projects that have nothing new to offer than Farming and Pools, they are scam and pump and dump projects, it's 100% more easier to create a ERC20 tokens today just like how you can create a random readymade website, let's be careful and learn before investing on crypto projects

[Winscosinally]

DeFi #1
ICO now at #2

This just shows that "History repeats itself" . The famous quote in crypto especially in Bitcoin.
The DeFi hype that we are experiencing right now is the same as the ICO hype back in 2017.
Many DeFi projects will stay but most of them will end up being a deadcoin, a shitcoin or a scam coin. Either way, I will avoid investing into them at all costs.

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

This is why I don't invest into new projects. I like to invest into old coins like the ones you just said. Trust over profit works for me. Sad for those who got scammed or incur some losses investing into these DeFi projects.

New projects are not to be blame here because not all new projects are scam, the problem is some people can't do research on projects before investing, they are so lazy and yet they want to make money, scammers are into crypto for sure but research is the only way to escape their grave traps

[OasisDre]

The first red flag from majority of these DeFi scam projects are their farming returns, you can make over 500% from a scam yield farming project, how do you think this is real ? Greedy investors are the ones falling hard for such cheap tricks honestly, no real POS coin gives more than 15% ROI per annual but DeFi projects want to give insane profits to investors

[so_stupid]

Scam DeFi season is over and the market is on bitcoin season. 

bitcoin season will revive defi season accordingly 
Has anyone ever seen one completed project? 

[InwardContour]

Massacre on the market and potential DeFi tokens are bleeding most.

Sushi, Kimchi, Pizza ?

https://defimarketcap.io/token/0xc4da39e646e7f5d233b89ca0f7b75344e7ddb2cc
https://defimarketcap.io/token/0x8386e3e719612f1baaa91ccec46593056594656b

Anytime I see SUSHI, I feel sad because of the amount I lost investing long term in the token, hoping sushiswap is the next uniswap and at such SUSHI should do well in future. This is a lesson for all, do not invest so much in any altcoin for long term purpose, always take out capital when necessary and leave profit to run long term. I had the opportunity of making profit with my SUSHI investment, but left everything to run long term. DEFI trend is full of misleading hype, many developers are preying on investors while taking advantage of the DEFI trend.

[Cloverfield]

Massacre on the market and potential DeFi tokens are bleeding most.

Sushi, Kimchi, Pizza ?

https://defimarketcap.io/token/0xc4da39e646e7f5d233b89ca0f7b75344e7ddb2cc
https://defimarketcap.io/token/0x8386e3e719612f1baaa91ccec46593056594656b

Anytime I see SUSHI, I feel sad because of the amount I lost investing long term in the token, hoping sushiswap is the next uniswap and at such SUSHI should do well in future. This is a lesson for all, do not invest so much in any altcoin for long term purpose, always take out capital when necessary and leave profit to run long term. I had the opportunity of making profit with my SUSHI investment, but left everything to run long term. DEFI trend is full of misleading hype, many developers are preying on investors while taking advantage of the DEFI trend.

I hope you kept your investment in SUSHI. The day you posted this was the day more or less it had botommed. You 20x from that point. It’s the Wild West out here and it can be a hell of a ride. Nothing is certain, but one thing.. Crypto is exciting and we’re living in exciting times! Green candles baby

[Mahanton]

Massacre on the market and potential DeFi tokens are bleeding most.

Sushi, Kimchi, Pizza ?

https://defimarketcap.io/token/0xc4da39e646e7f5d233b89ca0f7b75344e7ddb2cc
https://defimarketcap.io/token/0x8386e3e719612f1baaa91ccec46593056594656b

Anytime I see SUSHI, I feel sad because of the amount I lost investing long term in the token, hoping sushiswap is the next uniswap and at such SUSHI should do well in future. This is a lesson for all, do not invest so much in any altcoin for long term purpose, always take out capital when necessary and leave profit to run long term. I had the opportunity of making profit with my SUSHI investment, but left everything to run long term. DEFI trend is full of misleading hype, many developers are preying on investors while taking advantage of the DEFI trend.

I hope you kept your investment in SUSHI. The day you posted this was the day more or less it had botommed. You 20x from that point. It’s the Wild West out here and it can be a hell of a ride. Nothing is certain, but one thing.. Crypto is exciting and we’re living in exciting times! Green candles baby

It would be great if OP is still aware nor make out some response on the thread he had created.So we would able to know if he do able to held up his position or he had already
make out some panic sell decision.This is one of the opportunities that we can get nor gain if we do believe into something then we should really stand strong whatever things that
would happen ahead.If he do able to withstand the market volatility then he's really up to 20x gain if he haven't still making some sell.
Honestly, I do miss out to invest in Sushi and some other DeFi projects because I do have the impressions that these are utter shit projects.

[kapalmabur]

When the trend was Defi, scammers sprang up, yes and many Defi projects were scam, if you look at the image you uploaded, it seems that there is no difference from the second image where the Defi project is running, whether I don't understand it or everyone who sees it is the same as mine think, determining the Defi project is difficult, for some reason I always fail to invest in Defi,

[santiPOGI]

Ever since I joined here in cryptocurrency business, I never buy any of the defi coins actually because most them are not good and mostly are good in promises who have group in the social media's. But of course, even in altcoins industry there was also scam projects that has been arise too. So, I suggest it is much better to invest in the cryptocurrency rather than Defi coins.

[SquirrelJulietGarden]

It would be great if OP is still aware nor make out some response on the thread he had created.So we would able to know if he do able to held up his position or he had already make out some panic sell decision.This is one of the opportunities that we can get nor gain if we do believe into something then we should really stand strong whatever things that would happen ahead.If he do able to withstand the market volatility then he's really up to 20x gain if he haven't still making some sell.
Honestly, I do miss out to invest in Sushi and some other DeFi projects because I do have the impressions that these are utter shit projects.

I don't invest in DeFi. I buy and sell quickly with 5 or 10% of profit. I don't obsess with 100%, 200% or 500% profit with DeFi tokens or with any crypto asset. It is greedy and risky. I want something safer and would prefer to control risks on my side if possible. To control risks, I have to control my minds and emotions then market orders.

SUSHI, I bought and sold it a few times but I see how you fear of SUSHI when developer pulled his key to sell tokens and caused drama. Sold, dumped and pumped it in few hours. Terrible.

Ever since I joined here in cryptocurrency business, I never buy any of the defi coins actually because most them are not good and mostly are good in promises who have group in the social media's. But of course, even in altcoins industry there was also scam projects that has been arise too. So, I suggest it is much better to invest in the cryptocurrency rather than Defi coins.

You can buy to invest or trade but it depends on your style of investment or trading. I often buy and sell based on price actions. I have no plan to invest in any DeFi.

When the trend was Defi, scammers sprang up, yes and many Defi projects were scam, if you look at the image you uploaded, it seems that there is no difference from the second image where the Defi project is running, whether I don't understand it or everyone who sees it is the same as mine think, determining the Defi project is difficult, for some reason I always fail to invest in Defi,

Scammers create new projects to steal money from new investors. They bring bright future, promises, polishing roadmaps but they are scammers. Some old masternode, stake projects swap their coins to ERC20 and create DeFi tokens to scam again. They try to scam more money with their dead projects.