Strictly for those who have ears

[tycsols]

Even if you checkout the bounty section there are dozens of projects that are looking for free promotion because after raising funds they will just exit scam and investors alongwith the hunters will get nothing. So as a responsible investors we should not fomo and chase every shiny looking project but its better to follow good projects with experienced team and use cases.
I am also glad that defi hype and fomo seems to be going down now and there will be less opportunities now for scammers to take advantage of.
 

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[AndRE177]

Your topic will be very useful for the beginners and those people who first discovered the possibility to trade on the exchange Univap. The exchange often shows a notification that you are acting at your own risk and are responsible for your coins. You need to look carefully at all contracts, because there are really a lot of fake tokens on the exchange that pretend to be popular coins.

[Mpamaegbu]

It still look very suspicious even when its listed on uniswap, hotbit and bilaxy.  But the github https://github.com/yfnetworkdefi made them look validated.

I am not a tech kind of guy and so don't know much about the technicalities involved in all that. But I have read several articles where it was explained that the github is a better place to check if you want to know whether a project is genuine or not. So, for the fact that YFN is active there tells us that it's a serious project, isn't it?

You' have to wonder where the investors of these project came from to learn about them.

I think investors get wind of these DeFis from ICO and airdrop channels on telegram and Twitter. For instance, I read about FYN on telegram while it was still at the presale stage but was skeptical buying in.

[Bitstar_coin]

Uniswap is a decentralized exchange which is why it is very easy for anyone or any scam project to just list their fake defi token and get people to buy in, it has been said on several occasions that investors should be extremely careful when transacting in Uniswap, it is very easy to fall victim if all the necessary precautions are not applied,

Before making any transaction, be sure to check the contract address of that project from coingecko or cmc and not convince ask in the project telegram group and compare with what is on uniswap (this is very important),  lots of fake defi's out there it is up to us to identify them before having regrets.

[gabbie2010]

They just want to be in trend most of the tokens you listed doesn't have any announcement thread here, for a reason that they don't want to be asked by old members and it can easily identified that they are scam if they make one.

Just ignore that kind of project ,if you can review a project by  your self and found thier mistake like you find they are using other people photo or copying other project roadmap you can open scam accusation so that project can be flagged as scam so that they can't find other victims here.

I agree with you, even this mimics the first defi bubble maker YFI token, even though the price is now very high but we know at first the price of YFI was at 30 $ which then could go up to 24000 $ in just 1 month.
but if you dare to take the risk there is nothing wrong with buying the token and hoping the price will rise then you can release it.
and iterates over to new tokens that have the potential to rise as well.

I believed all these DeFis projects are mainly for risk takers, investors who knows how to spot or detect potential scams will stay off, however there are some investors who had been profitable in DeFi projects just like YFI token they believe that the risk worth taking, its not advisable for any newbie to invest blindly in any of those projects without any research there are many avenue for checking and monitoring those projects eg. coinmarketcap

[Francis Freeman]

Nothing more than some people using the hype to sell some made up tokens which have very little supply and create a artificial demand.
Probably if you look at the white paper to see the usage of token to see if it solves any issues , it won't be anything other than farming.

[Reid]

Also be careful with UNISWAP, listing coins on uniswap is very easy so don't think that every listed DeFi projects on uniswap are real, most DeFi projects are from unqualified fake devs that are just trying to get into your pocket. Few of these projects are already listed on uniswap already.

Uniswap is not filtering the projects?

Low supply maybe a good strategy to make it more real.
This scammers are wise. It's like they had been on this method before and they are trying to correct what is wrong with their scam attempts last time.
Again, this is destroying the whole crypto industry just like what happened with ICO.
Now, we got to relive the past.

[Valzador]

Website link: https://lsvdefi.finance/
Website link: https://www.phase.finance/
Website Link: https://www.theyfiv.finance/
Website Link: https://www.yfnetworkdefi.com/

I already know that the project you mentioned is a junk project. It all can be seen from the quality of their website and unclear team members. If you are indeed someone who doesn't care about risks, please buy coins from the project, but for someone who can think sensibly will avoid the above project.

[Byakuga]

The saddest thing about crypto is anyone can opt in without any knowledge only to get rekt, this is why I feel sorry for future crypto investors, I do hope they do research and get used to learning everyday because this is the only way they can get passed some traps, DeFi projects time will pass, the hype is very identical to ICO

[Adreman23]

Thanks for sharing, I've seen lots of these projects from ICO announcement website and they have tons of followers on Twitter, I don't know how they manage to achieve that anyway, for example like that YFN project

They have a lot of followers on twitter because they pay to have it like for example through twitter Giveaways. So we should not be tempted to invest money just because they have a lot of followers on their social media accounts. It is also better to do a deep research and evaluate the project before investing.

[poodle63]

If you are talking about how easy it is a coin to be listed I think it's always like that ever since the beginning of decentralized exchange. they just gives the community easier step to get listed and moreover their platform exist to facilitate the project that aren't or not yet listed in centralized exchange with rather strict rules. Therefore it just makes sense that people should actually be more careful about decentralized exchange in term of coins that are listed.

[michellee]

When you find another project that similar to the project you mention and feel it's suspicious, you don't have to invest in that project, and it's better to search for the other project that has the potential to increase. I think there will be many other projects like that, and we should search for more info related to the project to know more details. If you feel hard to find a new project, you can choose the existing altcoin or the best thing that you can select bitcoin for your investment.

[LogitechMouse]

~

Just like ICO, choosing the successful and not scam projects in DeFi industry is very hard. Maybe 1 out of 10 projects is good already.
These ones are just few of the new DeFi projects that already has red flags. Best thing to do right now is to just stay away from these new DeFi projects especially when you are a newbie unless you know when to enter and exit then good for you.

Also be careful with UNISWAP, listing coins on uniswap is very easy so don't think that every listed DeFi projects on uniswap are real, most DeFi projects are from unqualified fake devs that are just trying to get into your pocket. Few of these projects are already listed on uniswap already.

These DeFi projects comes with an ETH address so its better if you will see the ETH address of the project first then search it if it really is the token/coin.

[Distinctin]

Also be careful with UNISWAP, listing coins on uniswap is very easy so don't think that every listed DeFi projects on uniswap are real, most DeFi projects are from unqualified fake devs that are just trying to get into your pocket. Few of these projects are already listed on uniswap already.

That is a big problem for UNISWAP, scammers had taken the opportunity to fill-in so easily. I don't think UNISWAP has examined first those who want to get listed just like the other exchangers did. Maybe this could help to stop shit projects or it even just minimize it in order to retain their market reputation, otherwise, it gives a reason for the community to loosen their grip and ignore them.

Now, it gives cautious action for every trader. Not only it becomes listed to UNISWAP or even in know exchanges we are totally safe enough and guaranteed for returns, but it also depends on the project itself that we have invested.

[AndRE177]

Uniswap is a decentralized exchange which is why it is very easy for anyone or any scam project to just list their fake defi token and get people to buy in, it has been said on several occasions that investors should be extremely careful when transacting in Uniswap, it is very easy to fall victim if all the necessary precautions are not applied,

Before making any transaction, be sure to check the contract address of that project from coingecko or cmc and not convince ask in the project telegram group and compare with what is on uniswap (this is very important),  lots of fake defi's out there it is up to us to identify them before having regrets.

There are times when you need to check 7 times whether this is the coin you want to buy or another fraudulent token. I have long stopped looking at the names of coins, I have in the Google table recorded all the contract numbers of coins that I trade and I select coins in the search on Uniswap only by the addresses of contracts. This gives me confidence that I will not be deceived by scammers.

[tabas]

Everyone can add any suspicious y project if you have some seen some malicious information or suspicious data that's indicated on their team just like the standards and factors that op have shared.
The project owners think that it's still going to be the same as other y projects made their fame and wealth through this trend so, they will keep coming.

[senyorito123]

Everyone can add any suspicious y project if you have some seen some malicious information or suspicious data that's indicated on their team just like the standards and factors that op have shared.
The project owners think that it's still going to be the same as other y projects made their fame and wealth through this trend so, they will keep coming.

We can't afford to be scam, so let's be brave to shout out who are these person that kepts deceiving everybody. Suspicious project is hard to determine, and working with it throughout the community will be the best thing to do. Hopefully we will have a telegram group that's moderated without any destructions.

[goaldigger]

Everyone can add any suspicious y project if you have some seen some malicious information or suspicious data that's indicated on their team just like the standards and factors that op have shared.
The project owners think that it's still going to be the same as other y projects made their fame and wealth through this trend so, they will keep coming.

We can't afford to be scam, so let's be brave to shout out who are these person that kepts deceiving everybody. Suspicious project is hard to determine, and working with it throughout the community will be the best thing to do. Hopefully we will have a telegram group that's moderated without any destructions.

They can be the same person just like the scam project before, don’t fall on this trap. Listing on UNISWAP is indeed easy and some project already warns about their fake counterpart so its our job to know if its legit or not. DeFi projects are the trend right now, and scammers are not leaving the market and want some more profit from those newbies who don’t know how to research properly. There’s a lot of Y projects in the market, you can tell easily that they are just a scam project.

[pilosopotasyo]

There's always something like this every time there is a new hype they are just riding the waves, these developers are good in creating hype on their projects and investors should be very careful on projects that is just riding the waves, you never know, after the smoke is gone you will end up nothing.

[tabas]

Everyone can add any suspicious y project if you have some seen some malicious information or suspicious data that's indicated on their team just like the standards and factors that op have shared.
The project owners think that it's still going to be the same as other y projects made their fame and wealth through this trend so, they will keep coming.

We can't afford to be scam, so let's be brave to shout out who are these person that kepts deceiving everybody. Suspicious project is hard to determine, and working with it throughout the community will be the best thing to do. Hopefully we will have a telegram group that's moderated without any destructions.

Who to shoutout if they are hiding their identities in the shadow. It's best to shout out the project if you have find them very suspicious based from your own understanding and standards that you have set. Just like OP did, you can conduct your own research if you're into it.
Telegram channels are just the same, they can also be manipulated and sold unlike threads in the forum.