Many cry scam when it comes to Yobit. Admittedly, their tokens have no real world value but there is the possibility that this exchange can provide unique investment/trading opportunities.
Their exchange token Yo is currently trading at 0.14 btc, with a low last June of 0.002btc and then high in August of 0.18btc.
The current yobit IEO started at 0.00000001btc, immediately up x10, then dropped back to 5 sats for a few days, before climbing to x30, with a peak later at 0.00000048btc and all this with 10% daily investment box (12% with Yo stake)
They have also started airdrops, the first was very profitable for traders, especially for those holding YO, starting at 0.001 - 0.005 btc and with investment box availability. There was a catch with this however- although the airdrop was for 100 tokens(or more depending on your Yo stake), 99% of these were locked in the investment box, with only the 1% available for immediate trade and then afterwards, only your daily % provided that stipulated conditions were met. Still that 1 coin netted some a handsome $70 when trade started( USD pair actually shot to $500 for a couple of lucky sellers )
For their second airdrop, Yobit are now offering 700 Yodollars to those who join their telegram, at first this could be claimed from joining their telegram bot, then other conditions were imposed- joining their other telegram, joining their forum and posting a positive comment and then later another restriction was placed on referrals "We have launched anti-bot algorithm. Poor quality referrals will not be counted."
from a telegram user -
New friends (behavior is being analyzed): 0
Paid friends: 2
Declined friends: 13
And so far there is not really any information from yobit regarding the token itself, so most likely will not be ERC20 and will have unlimited supply. Probably will have an investment box and always the possibility that it will be like the previous airdrop with tokens locked and conditions that need to be met to earn daily %.
Is this just another yobit scam or a worthwhile trading opportunity? It is free and i guess there is always the possibilty to make a few bucks.