Maximum Defi Project Failed in 2020 | Bitcointalksearch.org

awakpane

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Activity: 1274

Merit: 12

Quote from: SaShiRaJaVu on January 26, 2021, 10:32:36 AM

Quote from: ?? on ??

In my opinion, Defi is here to be a solution to financial problems around the world. on the other hand, as Defi is increasingly in demand in the world, there are many groups of con artists who want to run projects with the concept of Defi and create tokens that have no good potential and they just want to get the benefits. therefore, before investing in a new project, you must do your research

DeFi is not a solution for the financial problems, i am skeptical and there are many who are earning a lot of money in the market but i would like to see how long these trend will last. The con artist will be there in the market and there are many in the DeFi platform as well as you could see many new projects popping up on a daily basis.

Indeed, despite all its advantages, Defi also has a number of challenges. First, blockchain is not completely free from security threats. the collateral value is still too high, even higher than the value of the loan itself. Therefore, there is a fraud threat factor that takes advantage of the Defi hype in giving birth to new projects by fraudsters.

lumierre

full member

Activity: 862

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Yam Finance was the most offensive disappointment. Dummy tokens were generated due to an error in the code. Incompetent developers left people with nothing. Many believed that this was done not by mistake, but on purpose, not in order to provide people with a service, but in order to raise money.

xiboothrezi

sr. member

Activity: 1246

Merit: 285

Quote from: btc-facebook on December 05, 2020, 08:00:23 PM

There are many factors that cause the DeFi project to fail, ~

however DeFi is a new ecosystem and still in the development stage, there are still many gaps that increase the chance of failure, lots of bugs and other technical problems.
what's more rumours and news that seem to be used to create hysteria, creating fomo. Actually DeFi is good, can solve many problems in the financial sector today, such as being global, and is more flexible. Unfortunately, many scammers take advantage of this moment to load half-baked projects, create projects that seem promising and then run away after getting investor funds.
it's best to do some in-depth analysis before engaging in this.

fahmimajannat

jr. member

Activity: 420

Merit: 1

Most of them failed because of team's lack of ability. Some people wants to get rich without any hardwork. Greediness is one of the reason behind the failures. They collect money from investor in the the end investors loose their money.
The main reason is lack of humanity, good policy and over greediness of the team or person.

gabbie2010

sr. member

Activity: 2842

Merit: 326

Vave.com - Crypto Casino

Majority of DeFi investors have the mindset of making huge profit quickly not minding the credibility of the project once launched they invested in it to make quick money unfortunately many of those projects are fake and scammers, they dangle their investors with mouthwatering offers, DeFi hype was very massive last year this can easily deceive a newbie to fall for it, quite unfortunate that a lot of them don't bother to research more about those projects but will they rather invest blindly with the hope to earn 10x, 20x within the shortest period of time.

Waleedzain323

jr. member

Activity: 288

Merit: 1

Focus Your Aim

Well this is due to the repetitive products on defi such as uniswap became successful and the many projects just rained on defi with same aim and perpouse as kingswap , pool swap, unidapp , some of swaps became successful and many lost in mud hahaha projects alwasya need t be different

SaShiRaJaVu

hero member

Activity: 1694

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Quote from: ?? on ??

In my opinion, Defi is here to be a solution to financial problems around the world. on the other hand, as Defi is increasingly in demand in the world, there are many groups of con artists who want to run projects with the concept of Defi and create tokens that have no good potential and they just want to get the benefits. therefore, before investing in a new project, you must do your research

DeFi is not a solution for the financial problems, i am skeptical and there are many who are earning a lot of money in the market but i would like to see how long these trend will last. The con artist will be there in the market and there are many in the DeFi platform as well as you could see many new projects popping up on a daily basis.

Mariangle Blocker

newbie

Activity: 28

Merit: 0

Quote from: Tushar Ramani on December 05, 2020, 01:39:11 PM

DeFi is a great solution indeed but that doesn't mean everyone must be launching their projects on top of that. The same happened with ICOs. More than 80% of them are failed and the ones who survived are already bleeding. It was just a hype that had blinded us with expectations.

think twice before you act

crypticj

sr. member

Activity: 873

Merit: 268

Nobody really using defi projects. Thats the main fail of them

Shallow

sr. member

Activity: 938

Merit: 255

SmartFi - EARN, LEND & TRADE

They had to claim they are good and will be successful in order to attract more Investors, they also had to claim they will disrupt this crypto space in order to attract more investors, that is to say, new projects team are at liberty to say whatsoever they believe will make them get more investors, in the same way, this is also the reason why it is very important not to base your research on what they team is saying but however on their experience, their project's use case and so on.
Many DeFi projects failed last year, because many used the hype already built to grow while in fact, they had nothing to offer which further results to pump and dump projects, and in some cases, their team seems not to be experienced enough which further results to them being exploited by hackers and lastly, many were outright scam projects.
Hence, my opinion about DeFi is that, many are still coming up, therefore if you want to invest, make sure you carry out your due diligence and as usual know the team will also say good things to get investors.

Ken_terrance

member

Activity: 574

Merit: 18

Making Smart Money Work

Quote from: AssociatesBumble579 on January 26, 2021, 01:14:19 AM

I don't think DeFi will be as successful as ICO. DeFi can be decentralized but has many flaws. Smart contract vulnerability is one of them. You may lose all your money for this error. There are many examples of DeFi's platform being hacked.
The error of inevitable humans is another one. Every developer claimed that their cords were invincible. However, they do not know how each user was connected to the platform. Thus, it has the potential to lose all money.

Few DeFi projects will maintain their standards I believe but ICO is not a use case and can't be compared with DeFi, ICO is just a strategy to raise fund for projects but DeFi is much more, decentralized Finance projects should be the most secured because it's decentralized but many failed, some even got hacked

Ken_terrance

member

Activity: 574

Merit: 18

Making Smart Money Work

You are a victim of bad DeFi projects OP, after DeFi became big in 2020 many new projects starts going DeFi as well, even few old projects switch their projects to DeFi to take advantage of the hype, there was assurance that many new DeFi projects are not going to deliver, they are here to raise money and do nothing

AssociatesBumble579

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Activity: 160

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I don't think DeFi will be as successful as ICO. DeFi can be decentralized but has many flaws. Smart contract vulnerability is one of them. You may lose all your money for this error. There are many examples of DeFi's platform being hacked.
The error of inevitable humans is another one. Every developer claimed that their cords were invincible. However, they do not know how each user was connected to the platform. Thus, it has the potential to lose all money.

Silberman

legendary

Activity: 2534

Merit: 1338

Quote from: Princejebs on December 26, 2020, 05:00:36 PM

I was never DeFi lover and enthusiast from start, the hype was out of this world right from lending, borrowing, decentralized and some sh**t that weren't necessary, now look at their performance and value from all time high.
It's even a pity that bitcoin is breaking places and altcoins aren't moving at all, DEGO finance that I ones hope on disappointed me at the end.

At the end it is always the same story, some supposed new form of cryptocurrency emerges with a new concept and then everyone gets on board then when the price of that original coin goes up to the point no one wants to buy anymore imitators and scammers create their own coins and the people that were left out at the beginning begin to invest in those coins as well, then sooner or later the money that came from those dumb enough to invest late runs out and the party is over, some people get rich while the majority lose everything they have and then bitcoin goes up in value when this is over.

Swopon

copper member

Activity: 700

Merit: 120

Gamdom

It is very normal after creating a hype. Defi was on the top and that's why people are choosing it to invest and the projects get successful. At the same time, scammer's entry destroy it and resulted in failure like ICO's. So hype always will not work with our expectations.

bttmember

member

Activity: 938

Merit: 13

AMEPAY

Quote from: SHAHKHAN22 on December 05, 2020, 01:25:13 PM

In this year 2020 maximum Defi Project Failed I don't know why? All of them claim that his project is real and will be successful but maximum failed to success in crypto market.
They also destroyed too much people funds because people trust on them and invest here but in the end his defi project become failed.
What's your opinion about defi that why maximum project failed in 2020?

If you analyse the market good projects are thriving so like we always say, market needs quality not quantity and we should also face the fact that most of the projects that came up in the name of defi were fake and were designed to just exit scam so we need to be more watchful when dealing with new projects.

Princejebs

member

Activity: 560

Merit: 26

I was never DeFi lover and enthusiast from start, the hype was out of this world right from lending, borrowing, decentralized and some sh**t that weren't necessary, now look at their performance and value from all time high.
It's even a pity that bitcoin is breaking places and altcoins aren't moving at all, DEGO finance that I ones hope on disappointed me at the end.

Silberman

legendary

Activity: 2534

Merit: 1338

Quote from: sulendra12 on December 21, 2020, 04:05:35 PM

Ya ya ya it is just a same shit over and over. When something hype begins, the bad people will come to you and trying to rob you.

Take a look at ICO before, when ICO at its peak so the scammers were trying to use this chance to scam us because it is so easy for them to rob us especially for uneducated peeps and what did happen after that? ICO is gone!.
Same thing will happen in DeFi in the future, slowly but sure we will see that thing coming.

This is as simple as that, it seems that once a year scammers try to find new ways to rename their scams to keep trying to get money out of people, but people finally are seeing their pattern, we had icos, ieos, defis and who knows what else and all of them will end up in the same way, people do not trust new coins anymore, if anyone is claiming they are the new satoshi then they can prove it by releasing their coin and ask no money out of the people just as satoshi did a decade ago.

Miaallen

member

Activity: 573

Merit: 30

What I see is just that a whole lots of scammers follow the wave of trend and take the advantage to scam unsuspecting public. They knew people see DeFi projects as a means of making huge sum as the rate of their price increase was more than what anyone could imagine or explain.
They took the advantage and scam people. Not that their projects failed.

shoreno

full member

Activity: 1750

Merit: 118

because someone pushes that this defi is real and will be succesful does that mean theyr telling the truth ? not at all until you did your own research to find out but you did find out that they are scamming people .

that is the cause why they fail but fail is the right word to use ? because i think fail only means when the project has a lack of fund for continuing what they started . maximun didnt fail but they are succesful of what they are planning .

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