Can you trust Defi projects??

[inverstorloisa]

Hello , as my hobby , again um doing my  research on new " Defi healthcare " Project. The Name of the Project is "medicalVEDA" and This is a Chinese canadian project. I'm telling about this project is due to following reasons , BUT i have some doubts as well , so that's why i need your opinions before investing to their IEO..

Reasons are :

• Partners
• Team members were directly contacted by me
• Active Telegram group
• One of my crypto teacher (my friend ) has invested [He has earned 3500$+ profit by investing an another project in last 3 months] thats why im following him i

[And i read the white paper ,but I coudn't find a wrong with that , tell me if you found any issue]

, So these are the reasons , Tell me your opinions against my reasons and if you have invested to this project kindly tell me the reasons for that..

Mistake --> This is not a Chinese project , This is a canadian Project

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[Lhaine]

That 3500$ they earn it from other defi project  as for my understanding from what you say. If you want to only invest in defi because you know someone earning a lot from it , then you are starting your investment wrong.

If you will only base on white paper you will never find any issue since its just a plan from what they are building and they are sharing that information to any potential investors. The question is if they are able to build it.

As for the project name we already have a lot of medical or health Care project before when ICO still popular and i don't find any one been successful after the ICO is over. so i assume that this can also happen in this one.

[ZEIIMAN]

I am surprised that you claim that the project is Chinese, but there is not a single person from this country in the team.

Then a strange form of airdrop, where you need to buy their tokens (albeit for a small amount).

And in general, medical ICO is not very popular, perhaps with the exception of interest from Asian countries. This area still has a long way to go, as well as projects related to real estate.

And by the way, the top exchanges for some reason do not really want to list medical tokens.

So think carefully before investing.

[CryptoYar]

Tell me your opinions against my reasons and if you have

I do not know that you have done proper research about this project because it's  IEO is not running on any good exchange at all. I think Exmarkets has listed a lot of scam projects in the past. If you want to invest knowing this then go ahead. However, if I find anything suspicious about this project, I will inform you

[forexandcryptoauditor]

I haven't gone through the project website or whitepaper. You are saying it's Chinese project. I see there may be some phishi in the name itself. MedicalVEDA. "Veda" is a word for Sanskrit language of India. Meaning eternal knowledge.
Why would Chinese project will keep it's project name from other countries language word?
I might be wrong but that is how my first impression is.

[Chuky92]

Hello , as my hobby , again um doing my  research on new " Defi healthcare " Project. The Name of the Project is "medicalVEDA" and This is a Chinese project. I'm telling about this project is due to following reasons , BUT i have some doubts as well , so that's why i need your opinions before investing to their IEO..

Reasons are :

• Partners
• Team members were directly contacted by me
• Active Telegram group
• One of my crypto teacher (my friend ) has invested [He has earned 3500$+ profit by investing an another project in last 3 months] thats why im following him i

[And i read the white paper ,but I coudn't find a wrong with that , tell me if you found any issue]

, So these are the reasons , Tell me your opinions against my reasons and if you have invested to this project kindly tell me the reasons for that..

First thing first, do not invest in a project just because another person is doing so even though he is your friend, learn how to do yours and be sure of the project. This is because, he could be doing so because of hype or because of what he heard as well. Also, invest what you can afford to lose.
Now about this project, I am just hearing about it, first check their team and their level of experience in the healthcare industry. Since they have partners, how strong or renowned are they? You also need to know that. An active community is also important but most importantly is the exchange launching the IEO and their track record of successful IEOs; as for me IEO on top exchanges always to a big extent shows how reliable a project can be.

[articlecity]

Hello , as my hobby , again um doing my  research on new " Defi healthcare " Project. The Name of the Project is "medicalVEDA" and This is a Chinese project. I'm telling about this project is due to following reasons , BUT i have some doubts as well , so that's why i need your opinions before investing to their IEO..

Reasons are :

• Partners
• Team members were directly contacted by me
• Active Telegram group
• One of my crypto teacher (my friend ) has invested [He has earned 3500$+ profit by investing an another project in last 3 months] thats why im following him i

[And i read the white paper ,but I coudn't find a wrong with that , tell me if you found any issue]

, So these are the reasons , Tell me your opinions against my reasons and if you have invested to this project kindly tell me the reasons for that..

I do not see the same hype for new defi projects like it was 4 to 8 weeks ago now so i do not suggest to invest in any new defi project at the moment.
Unless you see a real high quality project from highly experienced and reputed team i would suggest to stay away from them.

[ashmodeus]

nah, just get the hell out of there. i have a reason for it.
1 . so far, i've followed ICO/IEO/ITO/TGE or whatever people call it and mostly , Healthcare Industry by blockchain idea have a low chance for success , I want to set an example but i am too lazy to find it back on my history post, since that on 2017-2018.
2 . i've read some of their solution and this one is seems can't be accepted for me, "Veda Defi Lending ensures liquidity and easy conversion to fiat currencies" , as we know healthcare industry is a expensive business, why on earth they want join to something doesn't stable at value , we know exactly DeFi tokens is very fluctuactive, the simple words, when this token has fall , no one using this service anymore.
3 . and if that project is really came from chinese , it must be easy to get IEO on chinese market, at least kucoin, exmarket is the worst exchange for me, with many many shitcoin there. the trust score given by coingecko is 4.
4 . it seems hard to realized.

but well, it depend on you.

[Becky666]

Tell me your opinions against my reasons and if you have

I do not know that you have done proper research about this project because it's  IEO is not running on any good exchange at all. I think Exmarkets has listed a lot of scam projects in the past. If you want to invest knowing this then go ahead. However, if I find anything suspicious about this project, I will inform you

That's the issue, OP didn't have enough evidence to buttress his facts by calling the project a good and Chinese project. If actually the former teacher had made his investment with the project and was able to make such huge amount of profits; then what I see is pump. Wait a seconds: hope OP isn't trying to promote this shitproject to forum members? Because I smell something fishing with this project.

[CucakRowo]

Uhmm.. let me share mine.
First time following pre-sale (although not private sale) is in Alpha Finance through Binance launchpad. Before i decide to participate in binance launchpad for that project, yes, i did some DYOR mf mine, Which are :
1. Team behind the project. (Must gave clear information)
2. Whitepaper (are whitepaper written well, no plagiarism nor anything)
3. Roadmap.
4. Funds allocation (during softcap, hardcap)
5. Project Uniqueness (What makes this project different from other projects)
6. Risk Management (Always invest with money you can afford to lose)

Those 6 steps usually applied even when i decide to invest in other project (old or new project).

And about "medicalveda". I tend to agree with this comment :

read all comments by clciking quote link.. very nice comments

Afaik, 90% projects that mentioned about health or housing as their main purpose or 3D printing.. usually ended as useless project. Dont forget, Health is expensive business.

[kingzpro]

Hello , as my hobby , again um doing my  research on new " Defi healthcare " Project. The Name of the Project is "medicalVEDA" and This is a Chinese project. I'm telling about this project is due to following reasons , BUT i have some doubts as well , so that's why i need your opinions before investing to their IEO..

Reasons are :

• Partners
• Team members were directly contacted by me
• Active Telegram group
• One of my crypto teacher (my friend ) has invested [He has earned 3500$+ profit by investing an another project in last 3 months] thats why im following him i

[And i read the white paper ,but I coudn't find a wrong with that , tell me if you found any issue]

, So these are the reasons , Tell me your opinions against my reasons and if you have invested to this project kindly tell me the reasons for that..

Your title is a bit misleading because you are asking about defi projects in a generalized manner but in the thread you have asked about opinion on an unknown defi project, perhaps you want to shill this project, anyways at the moment defi market is consolidating and that is a good thing and good projects will come up stronger in the end while it will be hard for weak projects to sustain and survive for long.

[zasad@]

Author, please add a link to the project
https://medicalveda.com/

1 moment, the word "DEFI" in this project is more advertising than practical.
The main goal of the project is medicine.

I have seen similar projects but they have failed, for example   https://bitcointalk.org/index.php?topic=2577450

I will tell you that I would not invest here, it is very risky. Such a project requires tremendous efforts, funds and professionals. I would just wait for the start of trading on the exchange, perhaps you will buy tokens even cheaper than on IEO

[eaLiTy]

Everyone who believes in a project is directly looking at making profit but if someone already made a substantial profit from it and then ask you to invest in it then you need to think twice. I am not following the DeFi world even though i am hearing many people claiming that they are making a huge profit, the free airdrops and these rallies looks attractive but i am not in a position to take any risk.

If you think that the project is attractive and can benefit you, it is your choice as it is hard to determine whether it will be profitable in the long run.

[CuriousGeorge]

The implementation of defi projects will be only in the financial section. It can't be implemented in another section especially for the medic. The project was selling the crap idea and it just become another money grabber project.
It's just another scam project that will be rugpulling the money from uniswap when it gets listed there.
Be careful because it's not all of defi projects are applicable for that.

[goaldigger]

We invest to make money and we should have the reference for our investments, and its good that you have set your standards before you invest. Some of the DeFi projects are worth buying for, but never listen to every hype in the market and focus on your reasons why you will invest on that specific project. Just do your extra care because most of the DeFi now are scam and you won’t get money from that.

[Kemarit]

Oh well, hype + hype could be recipe for disaster, just saying. I mean the healthcare industry has been hype since 2017 and there are projects, specially who are prime movers have been successful. However, it doesn't mean that the next and next projects are going to be a success as well.

And then they pair it up with another hype which is Defi? It could backfire as investors will just put there money on it and make profits, while average joe like you and me believed that it can go 10x or 100x but before you get to that, the bubble will be burst.

[imstillthebest]

this is the same as asking "can you trust a crypto " ill trust crypto more than a defi but it also depends on what crypto ,  thats the same as on what kind of defi your investing  . its good that you provided the name of that project so that people can inspect it too.  defi on the medical field is new to me so this project could have a chance to get discovered and you said you have done a research and found out nothing is wrong , why not ? and mind telling us or ask your friend if what is that defi he invested and he gained so much money  . why not invest on it too and not on other projects ?

[makishart]

you should at least learn from the so many cases in the past when people were getting fooled by the scam project. $3500 in the last 3 months are small compared with what has already got by some people in the icodrop which has been making more than 5k in a month just from the single legit IEO.

Healthcare industry will never become a suitable place for defi and the combination of both will never happen.

I think that so many people have known so well about this.

[akirasendo17]

probably you have to check who is the person behind the projects, what are their goals, have they really have what it takes to continue and build the community around it? some are just making the projects then disappear, the roadmap and how the token will be distributed have lots of things to consider, especially if just pop up like daisy and will say 1000x returns surely you have to back off a little bit if you see this one.

[flyeers309]

The conclusion that initially you were interested in this project because you saw that your friend made a lot of profit? it could be said that you haven't done in-depth research. Nowadays, a lot of people take advantage of the DeFi hype to scammed people, especially people who are lazy to do research and people who are greedy. Do your own research. Personally I can't give an opinion because I'm not really interested in new projects because most of new DeFi projects right now are anonymous.