Post
Topic
Board Altcoin Discussion
Re: My take on DeFi bounties
by
Nellayar
on 02/10/2020, 15:33:03 UTC
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

1. Its part of the hype, if you are already here when ICO and IEO were hyped I believe that it is normal to you to see that bounty projects are going to the flow of the current trend.
2. This is a little bit sad right now, as a bounty participants it is a guide for us to know the legitimacy of the project. However, some of the projects are hiding their identity to their customers or clients. Its look like a scam whenever there is anonymity in the project. We all know that showing your identity to public can boost the trust and reliability of the project.
3. Its too obvious that many projects only has their front. Their home-made MVP and non-sense plan in future. They created website just only to show that they are legit. Of course, only ignorant in website and newbies in cryptocurrency will become the victims of these projects.
4. Above all of your thought, I really agree with this point. I saw a lot of project wanted to list in uniswap because when they had been listed in this exchange, their token were hyped by traders. As a result, they can gain a lot of benefits and profits.




All of the bounties I have seen right now has a tendency to fall under in scam. No bounty is good as what before. This is the reality of bounty nowadays. Either it is scam or it offers a low pool of rewards which at the end is useless.