It is not yet clear to me if the project is scam or not, but the Yam token has been trending because it dumped over 85%, if it is due to the dumped price; then that is not enough to call it scam because today is not a new day for token to get dumped. If you say its because of its nature of dump, then it is not new nor the first to witness such. If you are an investor of yam, you need to find pure facts to continue hodling and wait for moon, or cut loss.
In the future, there will certainly be many such projects. Its price will crash many times and cause investors to lose money, be careful with Defi projects because there are a lot of scammer out there. It will quickly crash like an ICO in the past 
Topic: (DEFI) YAM! YAM! YAM! a scam? - page 6. (Read 971 times)
It is not yet clear to me if the project is scam or not, but the Yam token has been trending because it dumped over 85%, if it is due to the dumped price; then that is not enough to call it scam because today is not a new day for token to get dumped. If you say its because of its nature of dump, then it is not new nor the first to witness such. If you are an investor of yam, you need to find pure facts to continue hodling and wait for moon, or cut loss.
Saw the hype on the yam. And was shocked at the rate it went high... But the truth defi projects is becoming too hyped and scammy.. Investors need to look properly before trying to invest. The team claimed bug, but am sure they never lost in the shitty project. While investors got drained. This needs to be looked into seriously.
isn't this something that usually happens in crypto, it's a risk to be taken if you too follow the hype defi.
if you do not want to accept losses do not try to enter into the unknown.
No, this DEFI seems to be different.if you do not want to accept losses do not try to enter into the unknown.
It makes everyone surprised and it is overhyped, its sudden price change increases not just 100% but more than that. But then after, it will fall drastically. You cannot anticipate its movement and if you will be left out, your money will be gone in no time.
Please note that the trading volume on the exchange is dropping. I'm wondering when will exchanges start caring about their reputation and stop trading this scam?
The turnover of the YAM token today amounted to $ 10 million
on gate.io but the day is not over yet.Try to calculate how much money users lost with such rate drops.
isn't this something that usually happens in crypto, it's a risk to be taken if you too follow the hype defi.
if you do not want to accept losses do not try to enter into the unknown.
if you do not want to accept losses do not try to enter into the unknown.
This is what often happens in our crypto market. When a new trend is created, there will be quality projects, but besides, there are many scam projects. Oikos is also a form of Defi but Justin Sun has denied being behind Oikos's project. It was a sign of fraud, like YAM. So be careful, every investment needs a thorough analysis. Knowledge and experience are very important in times now. Good luck investing in your next projects.
A sign of fraud? You don't know what happened between Oikos project team and Justin sun, that SUN guy asked oikos team to do IEO on bitfinex and they refused then SUN spread the news on Twitter that oikos is unknown to me, he got angry because the team turned him down 
This is the bad side of the sudden left up of the most Defi projects. because many will ride in it including those scammers. If this accusation is true I think that the Defi projects are already infiltrated with those fraudsters and masquerading as a legit Defi project, and it was a treat to investor's money so take extra precaution while investing in those so-called Defi projects out there.
Those who bought from the top would feel the pain most especially if they were unable to dump before price crash, i think the team were in a bit of a rush otherwise they would pay attention to such small details, we know the defi trends is on now but still people need to be extra care not to get burnt unnecessary.
Of course, they didn't see the dump coming so early. This is really hard lesson for all potential buyers of DeFi projects. Not all of them can give you profit because once the team decided to dump their share, you are now at loss of your investments. Don't be tempted by these sprouting DeFi projects, I think it is better to stick with bitcoin.
Is there such thing as an independent and third party to audit the code though? Pardon my ignorance.
But I do agree that what's left is, nothing to them, they are bamboozled by the manipulators and obviously they have been used, sad to say.
It's all speculation whether the project itself was involved though, too early to say.
This is another good lesson about Defi, they are just as hype as the ICO craze in 2017.
But I do agree that what's left is, nothing to them, they are bamboozled by the manipulators and obviously they have been used, sad to say.
It's all speculation whether the project itself was involved though, too early to say.
This is another good lesson about Defi, they are just as hype as the ICO craze in 2017.
This is what often happens in our crypto market. When a new trend is created, there will be quality projects, but besides, there are many scam projects. Oikos is also a form of Defi but Justin Sun has denied being behind Oikos's project. It was a sign of fraud, like YAM. So be careful, every investment needs a thorough analysis. Knowledge and experience are very important in times now. Good luck investing in your next projects.
Yeah! I agree with you! This is a common thing in the cryptocurrency market. Everytime a new trend comes up, there are a lot of good projects that benefit both developers and investors. However, when there is a hype in the market, it is also a good time for scammers to take advantages of! Therefore, be careful when you invest in any project especially DeFi projects! 
This is what often happens in our crypto market. When a new trend is created, there will be quality projects, but besides, there are many scam projects. Oikos is also a form of Defi but Justin Sun has denied being behind Oikos's project. It was a sign of fraud, like YAM. So be careful, every investment needs a thorough analysis. Knowledge and experience are very important in times now. Good luck investing in your next projects.
Those who bought from the top would feel the pain most especially if they were unable to dump before price crash, i think the team were in a bit of a rush otherwise they would pay attention to such small details, we know the defi trends is on now but still people need to be extra care not to get burnt unnecessary.
^^ Too early that those whales show their true collars and chooses this YAM project (I haven't heard of it) to be the poster child for a defi pump and dump scheme. Not scam per se, but pure pump and dump and total manipulation.
Maybe it was chosen by some trading signal group that's why it suddenly spike to astronomical numbers that everyone raises their eyebrow and accused this project as a scam. And now that it has brought some attention to them, but in a very bad way. And yes, this will not be the first to be used by those group to capitalized on the Defi hype this year.
Maybe it was chosen by some trading signal group that's why it suddenly spike to astronomical numbers that everyone raises their eyebrow and accused this project as a scam. And now that it has brought some attention to them, but in a very bad way. And yes, this will not be the first to be used by those group to capitalized on the Defi hype this year.
How ironic it is, I mean the name itself, YAM, LMAO. Sounds very scammy and very shady. And I think this is just the beginning or signs of things to come. For sure there could be hundreds of projects using the hype around this Defi thingy.
When I checked it on my social media I was really concern cause I see the price at a very low price somehow like 30$ then suddenly its above 100$ already thats a crazy pump. Obviously whales are manipulating the market and some poor traders who got into fomo are probably regretting now as the price depleted so fast. Defi is really something and they can even make a meme coin to be valuable that much. 
How ironic it is, I mean the name itself, YAM, LMAO. Sounds very scammy and very shady. And I think this is just the beginning or signs of things to come. For sure there could be hundreds of projects using the hype around this Defi thingy.
And as what most crypto enthusiast who have been here long to see the bubble of 2017, this is definitely a repeat of what has happened that time. History repeating itself. Scam and whales pumping it is just the same on my book. Everyone is greedy to make more money in short amount of time. You're lucky if you ride the boat with them, however, how about those average joes who lost their money on this project?
And as what most crypto enthusiast who have been here long to see the bubble of 2017, this is definitely a repeat of what has happened that time. History repeating itself. Scam and whales pumping it is just the same on my book. Everyone is greedy to make more money in short amount of time. You're lucky if you ride the boat with them, however, how about those average joes who lost their money on this project?
It looks like a a pump and dump project to me or the team aren't crypto experts to begin with, this kinda mistake says it all, investors need to be more careful around DeFi projects, any project will take advantage of the hype surrounding DeFi project
Not really a scam but probably whales are just pumped it over the defi hype. Im not sure why people engage thselves to hype coins. It is already stated that the coin is a meme like dogecoin and price drop is inevitable once whales left the project. See what happened now. The price easily go down with just a blink of an eye.
Decentralized finance isn't to be blame for this, the interest of DeFi grows out of its use case and that's bad at all, many wish DeFi will crumbled but I don't think so, Cex finance is doing well too, why wish for the death of DeFi ?? Anyways, this project has bad team is why this happened, might not be scam Project
Thats the problem some people using defi as a scheme of their tactics which make users bleed too much. 
It was probably the creators who sold first, why wouldnt it be? That then triggered a sell off probably, still, if its not an actual scam, then it will recover.
Decentralized finance isn't to be blame for this, the interest of DeFi grows out of its use case and that's bad at all, many wish DeFi will crumbled but I don't think so, Cex finance is doing well too, why wish for the death of DeFi ?? Anyways, this project has bad team is why this happened, might not be scam Project
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