Topic: DeFi project beginning to sounds ridiculous - page 4. (Read 1175 times)

No bro, the Defi projects are more ridiculous than the ico bubble, at least during that time they were more sensible project name and concept than what we have in today's Defi trends, all you see this days is yam, sushi and probably egg soon enough, everyone just come up with crap and tag it as DeFi and expect people don't invest, and of course some people will always invest without thinking of the consequences.

When I saw this picture, all I have in mind is this



Now you know what happens with these type of coins

DRK DEFI CHAIN Core  layer manage the agreement formed on the ledger and transition status.It include the most basic smart contracts allowing the creation of different entities and paymentrequirements.This layer is entirely free f charge to encourage usage and limit the development of other system. The only cost to be transmitted is for gas usage and the storage of information.

As with any thing (ITO, ICO, IEO and now DeFi) scammers are ready to take advantage of the hype.
Sad part is they're getting really good at it, and sometimes you have to tripple check everything to be sure it's legit.
And sure enough, more than 50% of DeFi projects now are scam or money grab.

The situation is almost the same as the ICO era. And even IEOs aren't that attractive now, as most investors find the DeFi trend attractive. Not attractive because of the project, but the short profit they are looking for. Only with low supply and hot topics about DeFi. Then the DeFi Trend will continue until many investors lose a lot of money.

We should be reminded that ICO bubble was for over 2 years and made a lot of good projects and many scam. Some will realize after 6 more months to join the Defi hype before been left out totally. It has a alot of default but go after the money

I dont know why people like these are creating this kind of project and the sudden is there are stupid people that supporting this?

The Name itself is a proof that the project is going nothing,Imagine HOTDOG? what does this represent?

This is a Joke lol and not be tolerated and bought.

as what we all not Defi Supporter thinks that this will happen starting now.

Already many defi projects have sunk to the bottom of which there will be no way to return. when the hype is over there will always be deep pain. only serious projects survive in this fluctuating market.

I am not going to lie the only defi coin that I have purchased ever since this defi frenzy started is SWIPE, and I would not have if it had jot been aqcuired by Binance. The bubble is goi g to blow and it is going to be messy.

When I look at all defi charts they all look like a hotdog to be honest.

They are hot at first then they just fizzle and die eventually with no real sustainable evidence to make sense what is to back it.
This has been proven time and time again with one coming out every couple of days.
It is like a game to the developers at this point but they don't care that people are playing with real money in their pet projects.

you will learn how people get profit by fame, don't go into the lizard hole either.

I am in also, bought some and sold it fast for a little profit. On this current market, trader shouldn't greedy to avoid lost.

Even I can't see the on coinmarketcap, that's something weird.

DeFi project is suitable for short term investment, you may lose your money if you try for long term investment.

You have to remember as well what has happened to an IEO event, at that time I highly believe that this event will run for long time because they use an exchange to launch the project. Moreover with DeFi event, there is a bad that has been raisen, ETH fee transaction is getting high and it will give a bad effect for the coin.

HEH, I just found out that you are promoting defi project in your signature The provider of this signature may not reward you for such posts.

I can see many crypto users don't trust or buy the hype surround the defi project but they still invest in it mostly for short gains because of FOMO. This put the defi craze very similar to ICO craze back then. No doubt we're in the bubble market with defi is a part of the problem. Maybe a similar fate will soon happen to defi project like it was for ICO.

In my opinion, it is even worse because it affects ETH defi will kill current bull run.

In my view, defi team / project tried to promote their project as well people saw the project is growing very fast like hype and fomo they buy it and when the project owner and team reached their targets. So may defi project are scam they just steal innocent people money you can see the market now specially defi is on earth now and people should invest in real project they gave us slow income but we have no fear to loss all our funds.

Defi are surely pump and dump and being manipulated easily, and the top holders are surely manipulating the price and suddenly dumps their holdings, take SUSHI for example after the sudden pump the whale also suddenly dump his holdings on Uniswap and drastically affects the price for almost over 99% also check YAM, you can actually see the scheme of those coin.

what are you expecting ? As long as the project is asking for investment whatever good they promise they are they will failed soon and investors will lost investing in it. They are just using a new ideas to grab new investors that willing to take the risk but if you will look at it carefully its almost the same as what ICO we have before they are just changing the ideas and name of the project they want to offer but its almost the same.

Defi is good. But this kind of project, makes a bad reputation to cryptocurrency as a whole.

I knew this was a scam, as I was informed about it form people who know what they're talking about.  I decided to dig in to all this however so I could learn and see for myself and as an investment advisor I have to stay up to date with any financial product release. 

DeFi is a hot pile of shit, if you think any different you're misguided. I first dug in to "Voluto", which is a "high yield" savings account. Per their website "Voluto is a savings account alternative that allows you to earn a high-interest return on your digital cash. While traditional banks pay only around 0.05% interest on average, a Voluto account can earn you up to 6%. There is no middleman, nor any fees involved and you can withdraw your funds with all your earned interest anytime".

If this was economically feasible, traditional banks would have already been doing this.  Right now the best interest % one can earn in savings account is around .9%.  Voluto claims you can earn up to 6% lol.  Sure, in the beginning.  The funny thing is this has caused an arbitrage..as people are both funding their accounts as well as taking loans, which is netting them a guaranteed profit, or at least until it all blows up.  What happens when loans wildly outweigh deposits? Sure as hell not any iFDIC insurance either. This is not a sustainable model.

DeFi is filled with plenty of legit financial product concepts...however there is no substance to many of them.  For example Insurance products.  Insurance is a very basic concept, people pool their money together and when someone has a triggering event, insurance pays out ( examples-life, auto, business etc).  When buying insurance you look at to main aspects, the insurance providers ratings, and the cost of insurance.  These insurance products they are dreaming up will not get significant funding to be sustainable or affordable.

Then there's your usual shitcoin options, decentralized exchange proposals, analytical tools etc.

Lastly, much of this is based on hopes and dreams that will stem from smart contracts.  Nick Szabo, the creator of smart contracts, and probably the most brilliant mind in cryptocurrency has recently stated he believes that Smart Contract progression has stalled, and is unlikely to change anytime soon.  Smart Contracts in theory are amazing, but we are not there yet for these to do much more than basic operations software can already achieve.

My opinion is DeFi is a few scams layered with all sorts of other crap that's useless, non-existent, or already been created and perfected.