My take on DeFi bounties

[tippytoes]

Indeed, the fact that the current DeFi trend has made many scammers take advantage of making fake DeFi projects in order to commit fraud.
It is true that if we do the research properly we will definitely find many DeFi projects that are currently releasing scams, so be careful when
choosing DeFi bounties to promote. Do not let us choose the wrong DeFi bounties, then it could put a few weeks of our work promoting DeFi
bounties in vain.

If you look at the scam accusations board in this forum alone, you will find out that a lot of these DeFi projects have existing allegations of plagiarism, fake team and others like running ponzi scheme. Honestly, only few of them have real usage and working platform. Most of them are just copycats of the popular Defis. Definitely, they are just here to grab money from naive buyers. In time, uniswap will be full of dead DeFi tokens.

[SlimShadyMmp]

Most of them are looking for cheap marketing with their shitcoin and mostly they end up not paying By the way XFI never paid anything to hunter Once it picked it vibes it throws  away hunters I will say look for credible managers before joining their bounties and dont join newbie campaign seriously do yourself a favour say far away

[gwdf1]

Because of defi hyip scammers  doing this. They always try to scam with trendy topics. Actually the same situation was in 2017.  That time ICO was over hyped and scammers took the chance. Same thing happening right now. Also they don’t reveal the team members information.  They are telling because of decentralization they are doing this. Everyone should be careful about defi.

Thus, it will be too complicated to differ scam projects from real ones. This is too risky, especially for the cryptomarket newbies. The development cycles of many DeFi projects are very similar: a sharp rise, after which a period of profit-taking begins, with a slow reverse transition into a positive movement. The behavior curve of DeFi coins is similar to a graph that reflects the psychology of market cycles. It makes sense to follow it before investing something in the project.

[tanjiran]

Most of defi bounty campaigns are scam true, but i think it is not only defi one, but most bounty campaigns are.
Doing bounty campaign nowadays has became uncertain because you won't know for sure they will pay you or not.
For this reason, many honest hunters decide to leave to join campaign and they are replaced by bots and spammers who joined.

Fraudsters are also getting smarter at covering up their fakes. They did various tricks to make the project and bounty look promising. I am very grateful that there are many members in this forum who do research and give warnings regarding dubious projects.
It is better if a join bounty is handled by a bounty manager who has experienced handling many successful projects. At least, choose a bounty where the number of participants is limited, this will prevent your work from being wasted because of the low rewards.

[Malam90]

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

Absolutely right. I have participated many DeFi bounties in the last few months but nothing has been paid yet to me. Bounty hunters are hopeless after doing their jobs and DeFi project teams are almost cheaters and frauds. It is very alarming for the bounty hunters who work for few payments but they are mostly cheated by team.

[SyndicateLabs]

1. Why are almost all bounties released today DeFi projects?
2. Most of these projects have no information about team

As you have seen over the past time the market has embraced the DeFi trend, which is why new projects are constantly appearing. So what are these new projects for, there will be projects that do the right thing, but there are also projects conceived to deceive people into this market. This is easy to understand because those are projects that are intending to deceive you, if not clear, they can ask them to deposit a stablecoin (if you can convince BM).

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

I see the activities of those projects going in the form of 'build a project and fomo quickly'. And of course the best way is to find an easy tool to reach many people like the list on uniswap, or simply with the 'name project' + DeFi.

[thesmallgod]

I would rather considered some of them to be overhype rather than being a scam. Most of them are getting listed even though the token price might have fall greatly. The point is that many dev team take advantage of trending topics just as many of them ported into IEO after ICO. Except those one that have clear roadmap and dedicated team, many will die

[coiner-88]

Twitter record of the first genuine Defi venture and attempt to trick blameless speculators through presale and a few motivations for abundance trackers as far as airdrop and bounties. There are many individuals who are happy to purchase anything at all that says DeFi, the impression is that it's an everything except ensured course to enormous benefits, when that is clearly not generally the situation.

[Furryball]

DeFi is the new thing in crypto space today just like how ICO was in 2017, it's certain that scammers will take advantage of the hype surrounding DeFi projects, mind you majority of DeFi projects are scam, we must do research and not get tempted by DeFi returns, they aren't realistic to begin with, imagine make 1200% ROI from DeFi farming

[pandanaran]

yes, this year can say the year for DEFI. every day lots of new DEFI projects appear on this forum, some of which are successful in the market and some end in Scams. but the big problem is that the developers are starting to bring old projects to life and turn them into DEFI projects. this is very risky for newcomers who have no experience and are rushing to invest in Defi regardless of the risks.

[ropyu1978]

Bounty campaign will run depend which one familiar right now, few week DeFi coin become most favorite investment for many investors and take chance for many ICO developer to make coin have DeFi platform, they will ask to bounty participants to promote their project.
Now DeFi era have left by many investors and will change for bounty hunter to check how does effective if keep joining with DeFi coin because many investors not trust again with DeFi coin, maybe we have looking for new project right now for promoting and better left with DeFi coin.