Don't fall for all DeFi hypes

[Riya143]

Everyone needs to be aware of the DeFi project. Because there may be scams ahead and there is a possibility of scamming. Because in the future, various types of fraud will continue with these projects. At one time there was scamming with blockchain project. Some fraudulent team members will be engaged in the market. As a result, the market will get worse. So I think a lot of people are thinking about hype. So everyone has to be careful about this. No one should invest in a scam project.

[hair]

I hope what you say is not true because if a good project like this ends up being a scam it will make the cryptocurrency name worse and not trusted by people anymore.

Are you new to crypto? many new projects that ended in scams including the DeFi project. The most important thing is always to be careful and not to rush to invest

[EthereumDev_]

I hope what you say is not true because if a good project like this ends up being a scam it will make the cryptocurrency name worse and not trusted by people anymore.

Are you new to crypto? many new projects that ended in scams including the DeFi project. The most important thing is always to be careful and not to rush to invest

I think YFI and YFI also apply DeFi technology and until now it's still safe, no one can guarantee that all cryptocurrencies are safe, but at least if they can still make a profit then use it to make a profit.

[Black ID]

It's true, when a project is gaining popularity and lots of people are interested. So many scammers will see this as an opportunity. We really have to continue to fortify ourselves, and also always check the project well before finally following it.

[expander]

Sometimes, we do not care about what will happen to the new project with the existence of Defi. In this case, we can see how many coins appear because of the Defi projects and concept.
Some of them are legit but some are mostly scam. many new projects only follow the previous project and been modified even generally.

[BradSow]

I noticed that one of the popular coins, Yearn Finance has further falling down with 56% in the past 30days.

[TERMINO]

It is really hard to resist the hype of DeFi when it is in its highest momentum. People are aware about what they should do and don't, however somehow they feel to take the risk and go with the flow. Unknowingly, the hype is dropping and now we can see the dramatic decline of DeFi tokens. I hope we learn something from hype not to flight when the plane is falling.

[Jaephoenix]

DeFi has always been a burgeoning niche in the cryptosphere that has received a lot of attention these days. However it has attracted many unscrupulous characters like exit scammers and registration pullers, thus it is saturated. It would soon implode

[Thymoty]

Scammers understand that now there is a huge hype around defi sphere and that is why so many cryptocurrency companies in defi sphere are now being created and many of these companies are created in order to deceive people for money, so we always need to be careful before investing in any project.

Yes you are right, the majority of DeFi platforms today are just for getting money from investors and then running away. Sadly, many of the investors are aware of the risks, but still invest their money in the platform.

[hushpupppy]

Naturally, i would say do not fall for any hypes at all because in crypto currency one way or the other there are hypes. hypes bring about a rush in purchase and increase liquidity and most hypes are not sustainable.

So always do your own research, and never invest because of hypes or fomo. Dyor always

[Gurujebs]

Sometimes, we do not care about what will happen to the new project with the existence of Defi. In this case, we can see how many coins appear because of the Defi projects and concept.
Some of them are legit but some are mostly scam. many new projects only follow the previous project and been modified even generally.

To be honest, it's has become a laughing thing to see a project without whitepaper, that was my first witness in DeFi shit. Another baseless line is anonymous team which I don't fancy and find interesting.
I am willing to invest in real Decentralized Finance ( that's if one exist) but this shortcomings and exit scams are killing investors. However, if you do a thorough research and take your time, there are good DeFi projects out there that are performing better than most of the past tokens we have seen in the market.
For every good intention individuals who tried to help the community, there are some people who make abuse of the system that's why we have some of this shitcoins in DeFi today.
Uniswap started all the way back in 2018, its a pity thatbit was just recognize during the trend and that has birth so many decentralized exchanges today ranging from Sushidwap to moonswap and so on.

[hair]

I think YFI and YFI also apply DeFi technology and until now it's still safe, no one can guarantee that all cryptocurrencies are safe, but at least if they can still make a profit then use it to make a profit.

You're right mate. YFI is still safe, while for the new DeFi project I still doubt it, of course we have to see the progress and potential before investing

[tinakoya]

It is a fact that one can't be 100% sure which project is genuine or which one is a joke. I have seen some coin go almost x1000 with a very minimal usecase. It's so over-board right now just as it was in 2017, when several scam projects emerged and scammed investors quite a lot of fund. I guess it's safe not to rush into investing especially if you plan to hodl for long. Some project will go x10 - x100 for sure but may not be sustainable which will be a loss if you hodl long term

[Tnoy30]

Many are now trying to make old projects transparent in order to gain a decentralized network. Being able to create new protocols. But I think investors need to be aware of this. Because the market can be scammed by creating such hype. Everyone needs to be aware and invest in this. Because investors can suffer more. You must know about DeFi (Finance).

[Tnoy30]

~

You're right mate. YFI is still safe, while for the new DeFi project I still doubt it, of course we have to see the progress and potential before investing

I still doubt the YFI project. Because the price of the token of this project increased that overnight. Many users disagree with that and there are some good exchange lists. But I also have doubts about it. Because the team of the project has increased the price by trading. But now prices have started to fall. It never happened. So the price will go down overnight. So I still doubt and must do market monitoring before investing in DeFI.