Quote from: kindbtc on Today at 08:19:32 PM

Quote from: cryptolordd on August 29, 2020, 01:44:44 PM

Just an advice from me to you, do not invest in new YFI copycats popping up on daily basis due to the huge success of YFI. We all saw the surge with YFI price currently above 22,000$ which surpasses BTC price right now. This is causing a lot of FOMO and scammers are taking advantage to launch their own scam coins (YFI copycats). Examples are YFIE, YFIS which launched even without website or team information, yet people still FOMO to buy. Be careful please, just a peaceful advise.

Everyone needs to be careful, I was shocked to see similar named tokens being purchased in large amounts at uniswap. I do not know if people are actually buying them or they are being scammed by presenting similar looking tokens, this game can turn ugly very quickly i hope authorities will be keeping an eye on the situation and the scammers who are selling fake tokens.

Today I saw an article on Publish0x about all YFI forks, here is the link https://www.publish0x.com/paragism/know-all-yfi-forks-xyvdpoz. I was amazed how many of them there is, and when there is so many of them, most of them are probably scams.
Now people should be extra careful with new DeFi projects. Most of them are following hype and wish to take money from people.
I would go with well-known DeFi projects, every new one is huge risk.