My take on DeFi bounties - page 6. | Bitcointalksearch.org

NoG-NoG

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Quote from: CashbackLover on September 30, 2020, 02:34:38 AM

Almost 99 percent of DeFi projects in bounty section are scam, you can say I have no prove but this is just my normal thought.

1. Why are almost all bounties released today DeFi projects?
2. Most of these projects have no information about team
( They are complete anonymous)
3. Majority of them are rushed, you can judge merely looking at website domain and designs
4. There are some that based on Uniswap wannabes

You can't compare these projects with real DeFi projects like introduced bounties like Oikos, Lattice, DIA, and few others, my advice is to be extremely picky after doing research

Its a very relevant thread especially to very bounty hunters in this forum and that is really true that before joining a bounty campaign make sure that you did several research on your prospect campaign to avoid wasting your efforts and time.

todiefor17

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One simple reason is that they want to raise a large amount of money but they are afraid of not having enough credibility and the number of people who know the project so they choose to organize a bounty project for people to participate and advertise for free. charge them. Maybe after raising the capital they will shut down the project. I witnessed airdrops before I held an ICO and then they shut down the project as well.
That was just one of the scenarios. We need to identify the risks before joining. I would choose a regular project with a public dev team rather than DEFI with an anonymous team.

passwordnow

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Even before the rise of Defis, a lot of bounties were scams. It is just that defis are very much getting the popularity and they see that making a project is phenomenal through the investors attention that defis get. The pattern and life cycle of ico bounties to defi bounties are just continuing.
The pump and dump for most defi projects are being applied and no one should be comfortable just because it's a defi project, you don't have to trust it quickly.

Johnyz

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We should not trust any project easily and we should do our homework to analyze first before you participate on any bounty project, DeFi is on a hype and that’s why many projects are just here to scam us. Usually scam project is just like the other DeFi project the only difference is the additional name on it but don’t be fooled by that, hunters should know the value of their work and as an investor trust only those legit DeFi project.

slackovic

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Quote from: amos77978 on October 01, 2020, 03:27:55 PM

lol.. you're not wrong... some investors want quick cashout so they believe any project following the step of uniswap can as well give same result as uniswap but they're wrong

So, you think that there can't or won't be any successful DEXes except Uniswap? I wouldn't say that. Look at how many centralized exchanges there are. Binance, Coinbase, Bitfinex... And all of them offer the same service - crypto exchange. That's why I think that there is a place for few DEXes other than Uniswap that can be successful. The problem is that decentralized exchanges with governance tokens and liquidity pools are relatively new so we will see which ones will succeed.

amos77978

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lol.. you're not wrong... some investors want quick cashout so they believe any project following the step of uniswap can as well give same result as uniswap but they're wrong

gamer4156

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Quote from: nicecrypto on September 30, 2020, 04:00:39 AM

Quote from: CashbackLover on September 30, 2020, 02:34:38 AM

Almost 99 percent of DeFi projects in bounty section are scam, you can say I have no prove but this is just my normal thought.

1. Why are almost all bounties released today DeFi projects?
2. Most of these projects have no information about team
( They are complete anonymous)
3. Majority of them are rushed, you can judge merely looking at website domain and designs
4. There are some that based on Uniswap wannabes

You can't compare these projects with real DeFi projects like introduced bounties like Oikos, Lattice, DIA, and few others, my advice is to be extremely picky after doing research

i agree with you especially the No.2, the anonymity part is surprising because i really don't see why there is a need for it if they have nothing to hide but you know people go with the trend and the current trend now is defi, anonymous or not everyone wants a piece of the pie, in other words, some of the project are just for temporary gains, not for long term investors, earn while it is hot Grin

There are many individuals who are happy to purchase anything at all that says DeFi, the impression is that it's an everything except ensured course to gigantic benefits, when that is clearly not generally the situation. Fundamentally it's corrupt individuals exploiting the tremendous FOMO encompassing DeFi right now. Most are currently defrauding the financial specialists too by simply making the Twitter record of the first genuine Defi task and attempt to trick blameless speculators through presale and a few impetuses for abundance trackers regarding airdrop and bounties.

lixer

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There is no lies in what you are saying, some people regardless of what you say to them are still going to be rushing into DeFi projects because they want to make money. Some of them saw how some of these projects bubbled and investors made lots of money, so they don’t have the time to look into the projects they see, they are just rushing it and trying to get money. But at the end of everything they might end up being scammed.

Investing in the cryptocurrency market is a very risky thing. And for the fact that most of the teams don’t reveal their identity in the name of being a DeFi is the annoying part of it. It’s mostly a team that has the intention to scam people that are worried about their identity.

slackovic

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Quote from: bakasabo on October 01, 2020, 04:47:08 AM

Quote from: ruli stylon on September 30, 2020, 03:37:11 PM

Quote from: bakasabo on September 30, 2020, 03:34:24 AM

4. Most of Uniswap wannabes are not regulated at all and you can buy and sell everything there. Scam tokens, own tokens, copycats and etc. Uniswap exchanges are the easiest way to sell scam.

I underlined point number 4.
I just found out that there are absolutely no rules on Uniswap. Any coins can be sold on Uniswap, including scam coins.

Actually this is not new. In past, etherdelta (and later forkdelta) had identical rules as Uniswap. Trade whatever you want. All they care is just their commission. Dont know why there is so much hype with Uniswap. Etherdelta offered the same years ago, but did not push ethereum transaction fees to the moon.

Isn't exactly that the point of a decentralized exchange? People are weird... When Binance asks "gazillion" dollars to list some coin, people complain that all they want is to make money. And now when there is Uniswap where anyone can sell their tokens, again it's no good because - anyone can sell their tokens, including scam tokens. Well, don't just throw your money into the next moon token. Do some research before you invest. Or at least search CoinGecko for that token and open markets tab. There you will find the right URL where you can buy that token and not some scam copy.

And no, EtherDelta didn't offer the same thing years ago. They didn't offer people to put their crypto into liquidity pools and earn comission. They did care only about their trading fee while Uniswap gives that trading fee to liquidity providers. Sorry, but I think that Uniswap is by far better than EtherDelta (and ForkDelta) was. I wouldn't even put them in the same sentence.

chikator

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The Fourth Generation of Blockchain in DeFi

Quote from: CashbackLover on September 30, 2020, 02:34:38 AM

Almost 99 percent of DeFi projects in bounty section are scam, you can say I have no prove but this is just my normal thought.

1. Why are almost all bounties released today DeFi projects?
2. Most of these projects have no information about team
( They are complete anonymous)
3. Majority of them are rushed, you can judge merely looking at website domain and designs
4. There are some that based on Uniswap wannabes

You can't compare these projects with real DeFi projects like introduced bounties like Oikos, Lattice, DIA, and few others, my advice is to be extremely picky after doing research

These scammers wanted to ride on the DeFi hype considering most investors now are looking forward to DeFi. Most of these guys just changed from some coin to DeFi, and that definitely is a red flag, their intent is obvious.

Fredomago

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Quote from: okala on October 01, 2020, 07:06:43 AM

In this life any good thing always have the fake one and defi coins are not different. The idea of a decentralized finance is what matter.

There's always people who will try to take advantage especially those scammers who are good in riding with the trends.

Quote

Human being will always like to do the bad part but few defi bounty that are good should be appreciated.

In most instances, people see the bad sides and forget about those little portions of good sides of it.

Quote

The fault is not from the coins but those that used them to scam others.

That's why it's very important to do your part in doing your research to avoid participating with scam projects.

manfredmann

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Defi projects are hype and are actually earning like uniswap defi project which is relatively good like earning from swapping your coins in that platform. It seems like that uniswap has its own reward system that the better or bigger amount you swap the higher returns from them also you will get. This one good reason that uniswap gets that hype. Defi projects had been reported good too in the market after its get listed and more upcoming defi projects with promising and high chance of success will be compared to ICO projects.

nykka

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Many projects move now to DeFi, because it`s just popular and there is no any technological DeFi background behind these projects. Participation in bounties of such project is very dangerous because of 2 things. First of all it`s very low chance that you will receive yourpayment. And scond one is that you promote half-scam projects.

sangjoewara

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Quote from: okala on October 01, 2020, 07:06:43 AM

In this life any good thing always have the fake one and defi coins are not different. The idea of a decentralized finance is what matter. Human being will always like to do the bad part but few defi bounty that are good should be appreciated. The fault is not from the coins but those that used them to scam others.

Yes, in this case we have to be able to sort out the good and the bad, because basically DeFi and some real bounties are good, it's just that some people take this opportunity to make fake bounties on behalf of the trending DeFi system.

okala

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In this life any good thing always have the fake one and defi coins are not different. The idea of a decentralized finance is what matter. Human being will always like to do the bad part but few defi bounty that are good should be appreciated. The fault is not from the coins but those that used them to scam others.

bakasabo

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Quote from: ruli stylon on September 30, 2020, 03:37:11 PM

Quote from: bakasabo on September 30, 2020, 03:34:24 AM

4. Most of Uniswap wannabes are not regulated at all and you can buy and sell everything there. Scam tokens, own tokens, copycats and etc. Uniswap exchanges are the easiest way to sell scam.

I underlined point number 4.
I just found out that there are absolutely no rules on Uniswap. Any coins can be sold on Uniswap, including scam coins.

Actually this is not new. In past, etherdelta (and later forkdelta) had identical rules as Uniswap. Trade whatever you want. All they care is just their commission. Dont know why there is so much hype with Uniswap. Etherdelta offered the same years ago, but did not push ethereum transaction fees to the moon.

cryptoaddictchie

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Quote from: Bitbtc8 on September 30, 2020, 09:05:14 AM

The chances of finding a promising bounty project now is very low, most new bounties are riding DeFi craze only and they are useless

Actually I agree. The only legit project I could say for now is dia campaign which was promoted by BubbleAlex, but also there is a new campaign worth joining on defi related.

Found out about this KittieFight. The project seems to have potential. On my researched they did, enlisted on cmc and has a good partnership.

https://coinmarketcap.com/headlines/news/defi-lending-platforms/

https://twitter.com/2keyNetwork/status/1310974709534789632?s=19

Seems interesting. Since they involve cryptokittie game, yieldfarming, lending and much more featured.

Sy

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Bounty Detective

I agree with you, there are loads of scam DeFi projects that are currently taking advantage of the DeFi hype, and one of the ways for them to promote their scam is a reward campaign. It's better to be careful while choosing a project because if we don't then, not only we won't get paid but, we might have also led some investors towards a scam.

btc-facebook

legendary

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I also have the same opinion with you, and this is not the first time.
when cryptocurrency comes new hype, usually there will be a lot of scammers that appear, like for example IEO, when the IEO hype is huge there are lots of new projects that make IEO exchanges, and in the end the project is a scam.
crypto enthusiasts should understand this and not easily believe a new project about DeFi that follows the market hype.

Teraboy

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Is not it too much to generalize almost 100% defi bounties were scam? I think that we can't judge it easily. There are also trusted defi bounties that have already ended recently too. The scam bounties will always come from the anonymous team.

We must also see the fundamental of the project. The new defi bounty has no good fundamental and that means it's very risky for the participants to join in such campaign.
We can't judge them from our perspective.

Topic: My take on DeFi bounties - page 6. (Read 1602 times)