I am dropping this question of the out of curiosity and observation.
Just like the 2017 ICO boom, where everyone and anyone who understand little bit of crypto would wake up one morning and create a shit coin with some copied white paper From an existing project and after successfully selling out their load of shit coin’s, boom they are nowhere to be found.From my observation since the innovation of DeFi, similar trend of the 2017 ICO boom is taking place especially on telegram with many bad players all in the name of DeFi run away with people hard earn money💰.
What do you think?
What are your experience and takes on DeFi?
You have seen it truly that projects are being copied from the codes without any value addition. Like recently, Sushi Swap was built on Uniswap and now there were two scam like launches in market claiming to give free $ 1000 tokens each - USwap and eSwap.
The next big thing that is catching up is NFT and useless NFTs are being made and people are buying to speculate. However, an interesting project was launched last week and they are dropping free NFTs that can mine. Please read this DEGO Finance NFT Airdrop for Mining
One had to be cautious to ensure that you do not put your funds at a project that promises too much or sounds too good to be true
Yes, I think so and crypto exchanges look like supporting them for profit. They endorse and list them new defi almost every day now and hide behind the risk warning and the great mantra: DYOR. This is really bad.
You are very right, nobody cares whether you make profit or loss but the exchanges always win. But they are also in a constant fight with others competing for the traders.