Post
Topic
Board Altcoin Discussion
Re: DeFi scams [history]
by
ryap12
on 19/08/2020, 11:13:44 UTC
1. YAM token
https://yam.finance/



https://www.gate.io/trade/yam_usdt

What happened?

The team launched the project without auditing a smart contract
Added PR, hyped social networks and launched token sale
The price has risen to $ 175 per token.
Due to a critical error in the smart contract code, the token price drops to 70 cents.
https://medium.com/@yamfinance/yam-post-rescue-attempt-update-c9c90c05953f
Liquidity is lost on the 1inch and Uniswap exchanges.
Gate.io and Bibox continue to trade a scam Smiley

YAM 2.0 is coming, we are waiting for the continuation of the party

2.MEME token
https://bitcointalk.org/index.php?topic=5268573.msg55019734#msg55019734


3. yearn.finance (YFI)
https://bitcointalk.org/index.php?topic=5268573.msg55021873#msg55021873

https://bitcointalk.org/index.php?topic=5268573.msg55024801#msg55024801


I don't think calling them scam is right. Irresponsible could be the right term due to lack of review on its smart contract. Right now price have risen around $2.6 USDT per YAM. I wonder what would happen on YAM 2.0? Will the price go back and will investors or hodlers buy YAM once again?