Topic: Non DeFi projects starts going DeFi - page 10. (Read 1398 times)
Defi is all over the market and even coins that died years back are going in for Defi and I was surprised to see a good well known project go into Defi too which sounds somehow but not withstanding everyone has their own means of increasing there coin volume.
That's a scam token behind DeFi project!
Investing on a DeFi project right now is a bad idea, you're gambling not investing. Because you're buy because of FOMO and want to multiple your money, you can also loss a huge amount money too. Remember altcoin season on 2017-2018? it's similar on DeFi hype now
It's also true that there are a lot of scams behind the DeFi project and this is the fact that there is a lot of catch with a new project on behalf of DeFi oh my god is this really being taken advantage of by scammers in this current trend.Investing on a DeFi project right now is a bad idea, you're gambling not investing. Because you're buy because of FOMO and want to multiple your money, you can also loss a huge amount money too. Remember altcoin season on 2017-2018? it's similar on DeFi hype now
In fact I am not sure investing in a new DeFi project launched because it is true that you are also a bad idea investing in DeFi now that a lot of big hype is going on and in the end it is useless because their achievements are only up to that point.
Every year there is always a trend season like ICO, IEO, DeFi maybe the year with coming up with popular names
Be suspicious of any projects that just decide to implement DeFi all of a sudden when DeFi wasn't implemented in the project's features from the beginning, this is nothing but a way to take advantage of DeFi Hypes going on nowadays, if you are a deep crypto fan like myself you should be seeing few old projects that aren't DeFi from birth and start talking about implementing DeFi feature, I'm 100% against this act as it's unclean and dangerous
You need to be suspicious to each and every projects that are raising capital and they will change according to the trend and it is not that surprising as DeFi projects is the latest trend and expect many projects .Take a look at the Yam token which is another DeFi project that burned out millions because of a security hole, so be wary when you are investing as you never know what the future holds, if you are planning to invest make sure you understand the risk involved.
Be suspicious of any projects that just decide to implement DeFi all of a sudden when DeFi wasn't implemented in the project's features from the beginning, this is nothing but a way to take advantage of DeFi Hypes going on nowadays, if you are a deep crypto fan like myself you should be seeing few old projects that aren't DeFi from birth and start talking about implementing DeFi feature, I'm 100% against this act as it's unclean and dangerous
Well, it makes sense for the project itself because there is a huge hype around defi nowadays and that means if you throw around the defi word into it that means you could actually make it to funding stage and get a lot more money, I am not saying it is a good and ethical thing to do for your investors, because you are tricking them into investing with wrong information but it would make sense for the project owners.However anyone who does this means that they are just in it for the money and you should not be doing anything remotely similar to them if you are project owner or if you are investor you should stay away from them. These are the same people that used AI word all the time when it was the big talk few years ago when it was nothing close to AI and more like small time machine learning.
it is something we are yet to comprehend. How a particular project claimed that the project has been a DeFi project right from time but in reality, it holds nothing close to DeFi. Loads of projects were existing alongside that project with better functions but never claimed to be DeFi.
If it's a must for you to invest in DeFi project make sure they have other use cases or utility like how DIA have Oracle feature like chainlink does as well, many crap projects will take advantage of DeFi Hypes for sure
I honestly don't like it either, I mean some old projects that are starting to come back to life and use the DEFI program to attract market investment. things like this are quite dangerous for new investors. As an investor I hope to be wiser before investing in old projects that start using the DEfi Hype as the reason.
you're right. I already see how many projects are trying to make money by trying to catch this wave of popularity of Defi projects. they usually just try to raise more money and this is dangerous
I have seen few of them already and the unfortunate part is that I have supported the project since 2018. Now I'm suspecting they could be a scam waiting to be activated. They use to be just a decentralized exchange only but after the hype of the Defi, they suddenly started talking about defi plans on their telegram channel.
It's easy to think that DEX can add Defi on their project since its almost just part of their roadmap. But if it wasn't in the plans before 2020 then you as investor could be in trouble when they finally decide to go YAM!
But where can you find new projects which are not listed yet e.g. at coingecko
Looking for the newest project? AFAIK you need to search it yourself to find their ANN, in this forum you can visit Announcements (Altcoins). Yam finance (YAM) is one of them with scam accusations.
Now this scam token has got massive dump from $92.73 to $1.08 (-98.85%) in a single day [1] If we see another scam token implement DeFi project got dump everyday, this DeFi hype will end ASAP.[1] https://bitcointalksearch.org/topic/m.54987096
Maybe not completely dangerous, if by using defi platform their coin price could increase drastically then investors would also feel the profit. Hype Defi is indeed a trend today, but projects that actually use the defi platform from start will certainly be target of investors.
It's hype, and like with every hype some people will run into it last ones, and of course they will buy on the top! This is hype, first many people don't know what defi is, second we all see how hard for eth is to handle these situations, fees are skyrocketing! "Total Ethereum transaction fees have reached an all-time high of $6.87 million, far outstripping the 2017 high of $4.55 million."
Trend today is not necessary a trend tomorrow, except bitcoin of course! And I don't wish to sound like a maximalist here, but it is what it is, now it's the time to be careful with defi, after huge hype there will be some big drops, I am thinking to sell some of my stash.
Be suspicious of any projects that just decide to implement DeFi all of a sudden when DeFi wasn't implemented in the project's features from the beginning, this is nothing but a way to take advantage of DeFi Hypes going on nowadays, if you are a deep crypto fan like myself you should be seeing few old projects that aren't DeFi from birth and start talking about implementing DeFi feature, I'm 100% against this act as it's unclean and dangerous
no, i think its not dangerous if the project team implementing defi feature seriously,
not only for a while just because the hype of defi
Maybe not completely dangerous, if by using defi platform their coin price could increase drastically then investors would also feel the profit. Hype Defi is indeed a trend today, but projects that actually use the defi platform from start will certainly be target of investors.
Be suspicious of any projects that just decide to implement DeFi all of a sudden when DeFi wasn't implemented in the project's features from the beginning, this is nothing but a way to take advantage of DeFi Hypes going on nowadays, if you are a deep crypto fan like myself you should be seeing few old projects that aren't DeFi from birth and start talking about implementing DeFi feature, I'm 100% against this act as it's unclean and dangerous
In the meantime it can be a safe haven for the project to get more fundings and support from the community with which they can improve the features of the project. I have seen a lot of times in the past where a good project was abandoned by the team due to the lack of funds with the team due to which they weren't able to support the project. But the problem is in those cases where scammers try to take advantage of DeFi name and try to scam the community for generating a profit. 
Be suspicious of any projects that just decide to implement DeFi all of a sudden when DeFi wasn't implemented in the project's features from the beginning, this is nothing but a way to take advantage of DeFi Hypes going on nowadays, if you are a deep crypto fan like myself you should be seeing few old projects that aren't DeFi from birth and start talking about implementing DeFi feature, I'm 100% against this act as it's unclean and dangerous
I feel like these projects that are switching to DeFi is resorting to this really dirty tactic of misleading future investors. DeFi is hitting the mainstream too hard and these people are just jumping at the oppurtunity to take advantage of newbies.
But where can you find new projects which are not listed yet e.g. at coingecko
Looking for the newest project? AFAIK you need to search it yourself to find their ANN, in this forum you can visit Announcements (Altcoins). Yam finance (YAM) is one of them with scam accusations.
Now this scam token has got massive dump from $92.73 to $1.08 (-98.85%) in a single day [1] If we see another scam token implement DeFi project got dump everyday, this DeFi hype will end ASAP.[1] https://bitcointalksearch.org/topic/m.54987096
You are right, most of the people are over hyped with the Defi projects which they need to check them very carefully because otherwise, we will end up like this situation, recently we have seen many projects launching under this Defi platform, so people should be very careful while choosing the dive project for investing.
But where can you find new projects which are not listed yet e.g. at coingecko
Looking for the newest project? AFAIK you need to search it yourself to find their ANN, in this forum you can visit Announcements (Altcoins). Yam finance (YAM) is one of them with scam accusations.
Now this scam token has got massive dump from $92.73 to $1.08 (-98.85%) in a single day [1] If we see another scam token implement DeFi project got dump everyday, this DeFi hype will end ASAP.[1] https://bitcointalksearch.org/topic/m.54987096
Be suspicious of any projects that just decide to implement DeFi all of a sudden when DeFi wasn't implemented in the project's features from the beginning, this is nothing but a way to take advantage of DeFi Hypes going on nowadays, if you are a deep crypto fan like myself you should be seeing few old projects that aren't DeFi from birth and start talking about implementing DeFi feature, I'm 100% against this act as it's unclean and dangerous
There's truth on what you are saying but project with a community that still wants to go on will want to integrate features that they think can help their project grow and their community as well and that means to the point fo adding or shifting to DeFi, check the intention of the project and developers and see if they can really put a DeFi projects or integrate or shift to it.
Be suspicious of any projects that just decide to implement DeFi all of a sudden when DeFi wasn't implemented in the project's features from the beginning, this is nothing but a way to take advantage of DeFi Hypes going on nowadays, if you are a deep crypto fan like myself you should be seeing few old projects that aren't DeFi from birth and start talking about implementing DeFi feature, I'm 100% against this act as it's unclean and dangerous
Well, in the corner of my mind, i always believe that most people are in crypto currency for the profit, profit matters alot. Also i feel like there is nothing wrong if a project wants to adopt defi protocol in a bid to revive the struggling project; it doesn't matter how much hype defi has if the project product is bad, it won;t sale.
We need to always remember clearly that the growth of a project depends on the product and not necessarily the methods used.
Where can you find new defi projects?
I know the following links where you are able to find defi projects.
https://defipulse.com/
https://defiprime.com/
https://www.coingecko.com/en/defi
But where can you find new projects which are not listed yet e.g. at coingecko
https://defipulse.com/ I know the following links where you are able to find defi projects.
https://defipulse.com/
https://defiprime.com/
https://www.coingecko.com/en/defi
But where can you find new projects which are not listed yet e.g. at coingecko
This list is not really exhaustive, I see them overlooking many good Defi projects at the moment. It seems that they only listed projects that have already been listed in coinmarketcap
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