My take on DeFi bounties

[qazgroup]

Almost 99 percent of DeFi projects in bounty section are scam, you can say I have no prove but this is just my normal thought.

1. Why are almost all bounties released today DeFi projects?
2. Most of these projects have no information about team
( They are complete anonymous)
3. Majority of them are rushed, you can judge merely looking at website domain and designs
4. There are some that based on Uniswap wannabes


You can't compare these projects with real DeFi projects like introduced bounties like Oikos, Lattice, DIA, and few others, my advice is to be extremely picky after doing research

If you feel that a bounty campaign is promoting a fake project and you know the red signals then i think it will be wise to open a separate thread for that and post all such projects and campaigns there.
Because this way community will become careful and stop promoting such projects. I was also thinking about so many similar named projects which never sound legit.

[Viscore]

Almost 99 percent of DeFi projects in bounty section are scam, you can say I have no prove but this is just my normal thought.

I'm not totally agreeing with you about 99% scammed projects releases, it may be a lower than that saying 95%, maybe it was fair to hear. I know that many were just turn into a scam but that is not the case when they are making it. Some did their best to make their project succeed but it was unfortunate to see that investors making their right decision not to consider them.
Actually, scam projects ruining crypto already and it holds investors to give their trust that is why only a few projects just succeed while many will sadly turn into nothing.

[cute nmp]

You are definitely right i totally agree with what you said.Most of the defi-bounties are scams project without an actual team some of those defi-bounties don't even have a standard whitepaper.I participated in two of those bounties and all of them are scams .The best thing to do is to make research about a project before promoting it.

[optimisticcm]

Almost 99 percent of DeFi projects in bounty section are scam, you can say I have no prove but this is just my normal thought.

1. Why are almost all bounties released today DeFi projects?
2. Most of these projects have no information about team
( They are complete anonymous)
3. Majority of them are rushed, you can judge merely looking at website domain and designs
4. There are some that based on Uniswap wannabes


You can't compare these projects with real DeFi projects like introduced bounties like Oikos, Lattice, DIA, and few others, my advice is to be extremely picky after doing research

The most crazy thing is that most projects and camoaigns lack even basic information like detailed roadmap, whitepaper and team details. As a promoter myself i know that there are risks involved with each project and campaign but atleast we should select the better projects to promote in my ooinion.

[Danslip]

Being lucky is the only requirement for payment from DEFI bounty campaigns because it doesn't make sense to join the bounty that has no background. That sections should be monitored closely for finding the scam projects and empty promises, newbies fall their promises easily.  The crazy amounts are not affordable by reasonable projects and teams never approve such marketing budget if they have long term plans.

[articlecity]

Almost 99 percent of DeFi projects in bounty section are scam, you can say I have no prove but this is just my normal thought.

1. Why are almost all bounties released today DeFi projects?
2. Most of these projects have no information about team
( They are complete anonymous)
3. Majority of them are rushed, you can judge merely looking at website domain and designs
4. There are some that based on Uniswap wannabes


You can't compare these projects with real DeFi projects like introduced bounties like Oikos, Lattice, DIA, and few others, my advice is to be extremely picky after doing research

Bounties is just a bonus kind of thing but yes hunters should be careful while choosing the campaign and only serious and quality projects should be promoted while low quality projects should be avoided at all costs.

[tvplus006]

Bounties is just a bonus kind of thing but yes hunters should be careful while choosing the campaign and only serious and quality projects should be promoted while low quality projects should be avoided at all costs.

Bounty hunters try to participate in as many bounties as possible in the hope that paying for multiple projects can compensate them for the work they have done. This strategy was tested when there was a hype around the ICO and bounties brought high income.

[Twinkledoe]

Being lucky is the only requirement for payment from DEFI bounty campaigns because it doesn't make sense to join the bounty that has no background. That sections should be monitored closely for finding the scam projects and empty promises, newbies fall their promises easily.  The crazy amounts are not affordable by reasonable projects and teams never approve such marketing budget if they have long term plans.

You can already see a lot of scam accusations towards these DeFi projects. Just head to scam accusations board - https://bitcointalk.org/index.php?board=83.0
Most latest scam threads come from DeFi projects - fake team, plagiarized whitepaper, and so on. So if you are a bounty hunter, check if the project is at least solid. Because most of them are really worthless tokens.

[dimonstration]

Being lucky is the only requirement for payment from DEFI bounty campaigns because it doesn't make sense to join the bounty that has no background. That sections should be monitored closely for finding the scam projects and empty promises, newbies fall their promises easily.  The crazy amounts are not affordable by reasonable projects and teams never approve such marketing budget if they have long term plans.

Bounty Hunters should learn from scammy projects brought by ICO after the 2017 ATH, were many ICO bounties didn't pay their participants. It's long gone that hunter will be able to be paid like what is given in before the ATH. Bitcoin price is way too high now so don't expect a huge amount alloted for bounties it's better to join weekly paid bounties or campaign now that waste time joining bounties that may continuously extend the campaign without guarantee of Payment. We should choose our work and time wisely.

[7788bitcoin]

Almost 99 percent of DeFi projects in bounty section are scam, you can say I have no prove but this is just my normal thought.

The same scam repeating again, it is the process of repeating the old scam in a new bottle and take advantage of the hype. Everyone needs to be smart about these anonymous projects and fake teams and with the hype hitting the roof expect more.

 

3. Majority of them are rushed, you can judge merely looking at website domain and designs

As mentioned same weak scammers with basic web design skills and taking on the hype to scam people, stay away from these.
 

You can't compare these projects with real DeFi projects like introduced bounties like Oikos, Lattice, DIA, and few others, my advice is to be extremely picky after doing research

Research in the sense you need to talk to the developers and come to a conclusion rather than going after reviews  and if you can do that and if you think you can trust them then you can carry on with it, if not it is better to stay away from these.

[Shasha80]

I don't blame people for thinking that DeFi projects in the bounty section are scams, because in fact most of them are not well prepared,
most of the teams that make DeFi projects do not have a track record to trust. Therefore, it is highly doubtful that the DeFi projects in
the bounty section will be profitable for bounty hunters.

[kawetsriyanto]

Almost 99 percent of DeFi projects in bounty section are scam, you can say I have no prove but this is just my normal thought.

Is it normal thought? Or seems like spreading FUDs? 
If you still can't get the valid source or no own research yet, you shouldn't claim with the exact number like 99%. I agree that many DeFi projects turned to scams, but claiming there were already 99% from 100% Defi projects seems not a wise statement.

[xiboothrezi]

Did you know, scammers are definitely taking advantage of the market hysteria, of which DeFi and Uniswap are currently the most popular. So don't be surprised if a lot of "half-baked" projects have sprung up with DeFi themes, claiming to be based on uniswap. The scammers are looking for investors / bounty hunters / crypto enthusiasts who are panicking because they missed their previous train, and those who want to get instant profits without thinking. So, we have to be smart, don't join the project just because we claim to be DeFi or cooperate with Uniswap, we have to keep doing in-depth analysis so we don't get caught in fraud.
this pattern is the same as the popular ico in 2017s

[gabbie2010]

Yeap, There are tons of DeFi bounty for now (Really much) And looks like most of them are scam, I'm basically still join some bounty with DeFi concept but doing deep research before that. Well it's just some hype, Let's wait till it become mainstream.

Just a make thorough research to avoid being scammed in the De-Fis bounties, there are many of those projects out there whose sole aim is to capitalize on the hype and scam bounty hunters and investors who didn't do underground check before participating and investing in those projects.
Although some bounty hunters don't a choice especially newbies they always participate in every bounty campaign especially the social media irrespective of whether the project is scam or not.

[Teraboy]

Is not it too much to generalize almost 100% defi bounties were scam? I think that we can't judge it easily. There are also trusted defi bounties that have already ended recently too. The scam bounties will always come from the anonymous team.

We must also see the fundamental of the project. The new defi bounty has no good fundamental and that means it's very risky for the participants to join in such campaign.
We can't judge them from our perspective.

[btc-facebook]

I also have the same opinion with you, and this is not the first time.
when cryptocurrency comes new hype, usually there will be a lot of scammers that appear, like for example IEO, when the IEO hype is huge there are lots of new projects that make IEO exchanges, and in the end the project is a scam.
crypto enthusiasts should understand this and not easily believe a new project about DeFi that follows the market hype.

[Sy]

I agree with you, there are loads of scam DeFi projects that are currently taking advantage of the DeFi hype, and one of the ways for them to promote their scam is a reward campaign. It's better to be careful while choosing a project because if we don't then, not only we won't get paid but, we might have also led some investors towards a scam.

[cryptoaddictchie]

The chances of finding a promising bounty project now is very low, most new bounties are riding DeFi craze only and they are useless

Actually I agree. The only legit project I could say for now is dia campaign which was promoted by BubbleAlex, but also there is a new campaign worth joining on defi related.

Found out about this KittieFight. The project seems to have potential. On my researched they did, enlisted on cmc and has a good partnership.

https://coinmarketcap.com/headlines/news/defi-lending-platforms/

https://twitter.com/2keyNetwork/status/1310974709534789632?s=19

Seems interesting. Since they involve cryptokittie game, yieldfarming, lending and much more featured.

[bakasabo]

4. Most of Uniswap wannabes are not regulated at all and you can buy and sell everything there. Scam tokens, own tokens, copycats and etc. Uniswap exchanges are the easiest way to sell scam.

I underlined point number 4.
I just found out that there are absolutely no rules on Uniswap. Any coins can be sold on Uniswap, including scam coins.

Actually this is not new. In past, etherdelta (and later forkdelta) had identical rules as Uniswap. Trade whatever you want. All they care is just their commission. Dont know why there is so much hype with Uniswap. Etherdelta offered the same years ago, but did not push ethereum transaction fees to the moon.

[okala]

In this life any good thing always have the fake one and defi coins are not different. The idea of a decentralized finance is what matter. Human being will always like to do the bad part but few defi bounty that are good should be appreciated. The fault is not from the coins but those that used them to scam others.