Everyone who are greedily to join the DeFi trend and projects, please spend your several minutes to read
Overview on DeFi - a new hot trend in crypto. You will know where and how to investigate DeFi trend and projects and save your money. Think of risks and loses before you think of profits and avoid to decentralize your capital from your pocket to pockets of the others.
A quote is for people who are lazy to completely read the thread.
It is the first big scam accusation and was released after the crazy rise of SRM (almost reaches 20 times of increase from their IEO price). In OP, there are warnings at very early sentences and I wish people want to invest in any DeFi projects have to bear it in their minds.
As a basic rule, a new trend brings both opportunities and risks to investors. Only investors who are knowledgeable and readily to learn as well as have ability to control their investing activities can win and earn profits from their capital. Most of them end with losses, indeed.
pooya87 made an excellent warning and a summary on famous scam trends in crypto.
if you compare the times when tether growth peaked with the altcoin market pump and dump periods you can see that the major rises were:
1. 2017 mass altcoin pump when every single altcoin even the long dead ones worth less than 1 satoshi got pumped
2. 2017 ICO mania where thousands of ICO were being created every month or so
3. 2018-2019 mass altcoin dump which was the reverse of #1
4. 2018 mass ICO death which was reverse of #2
interestingly enough tether was added to ethereum network to exactly be used for pump and dumping ICO tokens during the ICO mania by the end of 2017 and grow a lot during the ICO death spiral next 2 years.
