DeFi project beginning to sounds ridiculous

[raidarksword]

Its sounds ridiculous sometimes that they came up with food names into a DeFi project and it did really created a hype to people wanted to take part in and ride the hype train. There are some deserving DeFi projects out there that worth the spotlight but we cannot take away that their are people wanted to take advantage the hype of it. So, that's why the decisions will always be a vital to avoid scams on fake DeFi projects popping out.

[Mame89]

A few days ago I have a defi token and I maintain it until now I think the price will continue to rise but what happened turned out that what I expected was really ridiculous and this I really experienced it. I don't need to show the coin it's just that currently the price has dropped dramatically from the highest price of 1 token equals 1 eth, currently it's only US $ 87.59 -12.1%
I feel utterly ridiculous for missing a golden opportunity and ignoring it.

[fourpiece]

Im just waiting for these defi projects to end so that traders are in btc and alts again.  Defi are just a copy of ico the thing is its only enhance ico.  But defi will also follow the also the road of ico.

[Marina5]

With projects like Hotdog coin and the likes doing the rounds, the whole DeFi craze is beginning to look and smell a lot like the ICO bubble a few years ago. Although, i feel that their own acceptance of how ridiculous and scammy it all is is ironically adding to their appeal.
Why do you think this is happening?

All the old coins are turning around.  In a very short time, it may freeze as before.  It seems that the insanity of the defi project will not last long.

[carlisle1]

With projects like Hotdog coin and the likes doing the rounds, the whole DeFi craze is beginning to look and smell a lot like the ICO bubble a few years ago. Although, i feel that their own acceptance of how ridiculous and scammy it all is is ironically adding to their appeal.
Why do you think this is happening?

All the old coins are turning around.  In a very short time, it may freeze as before.  It seems that the insanity of the defi project will not last long.

Nice use of word "Insanity" ,while many coins are struggling hard these defi projects are making its way up but there are some thinking about the fall of many defi based projects.

i know how popular this defi thing now but like you i doubt that it will last that long because Altcoin season shows this way in past but
 in the end fell down hard.
So hopefully those who invested here will realize this earlier before they fall hard with the projects they are supporting now.

[rodskee]

With projects like Hotdog coin and the likes doing the rounds, the whole DeFi craze is beginning to look and smell a lot like the ICO bubble a few years ago. Although, i feel that their own acceptance of how ridiculous and scammy it all is is ironically adding to their appeal.
Why do you think this is happening?

I just find it stupid that someone will invest in that project knowing the name of the company is "HOTDOG?"

Kinda funny and name and looking at their team seems nothing is certain ,Hope they have just fooled small amount from this.
Scam like this is always here to come from everywhere since the Defi project has just got what they wanted and now is looking like what we have in 2018.

Lucky for me that i have stopped believing in newly coming currencies instead i am contented in what i have been holding and buying from older coins.

Im just waiting for these defi projects to end so that traders are in btc and alts again.  Defi are just a copy of ico the thing is its only enhance ico.  But defi will also follow the also the road of ico.

They will not end all because for sure there are some others that is legit and have a good future ahead.

[Lycan70]

Hotdogs, burgers, sushi. Hmmm. I believe they have a beer and pizza variant too. Why these Defi projects wants to be named after food, I wonder. Definitely not projects that you can take seriously. 

[X-ray]

Hotdogs, burgers, sushi. Hmmm. I believe they have a beer and pizza variant too. Why these Defi projects wants to be named after food, I wonder. Definitely not projects that you can take seriously. 

To get the same hype as the early defi projects that used the name of food like sushi or kimchi(scam).

If you were also watching the defi projects called uniswap and there were so many new projects have used the finance name too. This trend is always repeating so many times. The first trend was bitcoin fork coin and that makes these fork scam coins appeared in the market.

The market looks so crazy right now.

[ultrloa]

Hotdogs, burgers, sushi. Hmmm. I believe they have a beer and pizza variant too. Why these Defi projects wants to be named after food, I wonder. Definitely not projects that you can take seriously. 

That's why we need to be careful on such particular scams happening since whatever trend came scammers are riding the fame of new one so much better stay away and always look deeply on what Defi tokens we are going to and if we think it sounds scam we should not go with it and look for another.

[btc78]

Its sounds ridiculous sometimes that they came up with food names into a DeFi project and it did really created a hype to people wanted to take part in and ride the hype train. There are some deserving DeFi projects out there that worth the spotlight but we cannot take away that their are people wanted to take advantage the hype of it. So, that's why the decisions will always be a vital to avoid scams on fake DeFi projects popping out.

actually i found it funny that the first one i have read is Sushi project in which a Japanese food and then this one Hotdog,i was wondering why
people are investing in this obvious hyped currency?or maybe they are just greedy wanted to gain
 instant money but in the end becoming the victim?

Hotdogs, burgers, sushi. Hmmm. I believe they have a beer and pizza variant too. Why these Defi projects wants to be named after food, I wonder. Definitely not projects that you can take seriously. 

So there is also a BURGER project?what is happening to these people?where in earth that they are still hyping?

anyway lucky  that me and my friends will never believe project such this.

[Lycan70]

Hotdogs, burgers, sushi. Hmmm. I believe they have a beer and pizza variant too. Why these Defi projects wants to be named after food, I wonder. Definitely not projects that you can take seriously.  

To get the same hype as the early defi projects that used the name of food like sushi or kimchi(scam).

If you were also watching the defi projects called uniswap and there were so many new projects have used the finance name too. This trend is always repeating so many times. The first trend was bitcoin fork coin and that makes these fork scam coins appeared in the market.

The market looks so crazy right now.

There are too many of them actually. They're claiming to be revolutionary project using Defi blah,blah, blah. Some Defi projects that comes with an exchange of their own that offers zero transaction fee (this feature is a good one though if it is truly a zero fee dex).  I'm active on an AMA group and one of those Defi projects that conducted ama turnout to be a scam. Thankfully, the project shutdown immediately without taking much of investors money. But I know that not all Defi projects are scam.

[Rexler]

With projects like Hotdog coin and the likes doing the rounds, the whole DeFi craze is beginning to look and smell a lot like the ICO bubble a few years ago. Although, i feel that their own acceptance of how ridiculous and scammy it all is is ironically adding to their appeal.
Why do you think this is happening?

DeFi seems to be just another ICO bubble, and I bet fomo is the main reason, so many people are scared of missing out, cus they saw how so many coins were just going up without any pull back, coin like Hotdog was a real bubble  , reached the peak and just fell down back to where it originally started, also alot of scammers seized the opportunity to start naming their scam projects with similar names to the successful DeFi projects, "YFI" was the most used by scammers, they came up with names like YF MOONSHOT, YFIR.finance etc which turned scam after two to three weeks, too bad the DeFi hype is no more there.

[CryptoYar]

Nowadays, many projects come to the market without a team. And initially their price is pumped, so that people buy it with the intention of profit. But after a few days, its price starts to fall, and those who have invested in it are at a huge loss.

We should stay away from such projects, as they come in the market only for a few days. When Scammer earns a good amount of money, he starts work on another project.

[Ridwan Fauzi]

Im just waiting for these defi projects to end so that traders are in btc and alts again.  Defi are just a copy of ico the thing is its only enhance ico.  But defi will also follow the also the road of ico.

I believe for those who trade DeFi token especially on Uniswap are temporary. They only use a hype event and after that they will come to use bitcoin to trade and saving their money for long term investment.

Take a look with the major of DeFi token price right now, it is horrible to see.  But who know what will happen next? There is a different thing with the previous crypto event. DeFi event has brought a new system who has waited for a long time and indeed I realized that we need a decentralized finance.

So, just the crypto user who will decide that DeFi project is worthless or not. We are already know and we have been faced many times that new project that didn't give anything or there is no value/real function from the project then we just need a few times to see the project will be a shitcoin, unless it will be different if new project has a good function and give a good impat for crypto user maybe I can say that the project will compete the old coin even it is bitcoin.

[peter0425]

People should stop generalizing and consider all defi project as bad, among the defi project of this recent times there are a few good ones, in short, defi is not the problem but the dev team taking the advantage of the defi trend, but despite all this negativity surrounding the defi project there are still handful of it that are good and genuine, so i don't think it is right to generalize and conclude that the whole defi ecosystem is bad just because of the bad ones among them.

I doubt that people here are generalizing DeFi as all scams because in some posts we can see that they are referring to those scams like Hotdog or that Sushi something.
They just wanna make people aware of the chances of being scammed if not do necessary action towards defi projects.

[BayAngelo]

Such is expected as usual. scammers will also detect a loophole to scam gullible invesotors. it started with YFI, a project with little supply sold past 40,000k per token. with littleor Nothing to offer. then, there was Meme, Rope and so many others that looks like Pump and dump project. what surprises most people including me is that some of these projects has good developers and they clearly stated the High risk in vesting in projects like this.
it looks like people enjoyed taking risk to make money than to focus on gradual developing projects.

[CuriousGeorge]

Defi like pump and dump game.

And it's also very similar with a gambling as when someone was investing in the bad defi and he will always be scammed by the scam defi. Gambling in the defi project is a very high risk decision.
People should have experienced with the smartcontract, how to analyze the fundamental and various things involved to be able discover the legit defi.
It's a pump and dump scheme while sometimes it can be ended as a scam.

[NMBT]

Defi is an inmature field at this moment, be cautious is you invest in it.

Try to make a deep search ni each defi project before invest.

[Lordrift]

Defi is an inmature field at this moment, be cautious is you invest in it.

Try to make a deep search ni each defi project before invest.

No how the DeFi project moves, A good investor/ trader is supposed to properly make research and enquiry about the project before going for purchase.

[Rabi3]

i was pretty excited about Defi when news started popping off all over this forum and others, i thought it's going to bring something
fresh that could make a huge success, but i feel like most of the projects failed, and boy there are lots of Defi projects
most of them turned up to be a failure sadly.