I already can't count how many defi projects were released today. I think most of the projects released are defi projects. and the coins coming from that project will just be shitcoins. If you still believe in defi and keep investing in such projects, my advice is to skip projects with the name SAFE or MOON. projects using that name are just shit. plagiarism project with a very big total supply. You will regret believing in such a project.
in the present time, I see scammers start moving to Defi project...
mock concepts and whitepapers, APY's unreasonable ROI promises, and tight marketing. I've been deterred from investing in defi, it's better to only invest in defi that already has a good reputation like pancakeswap and others.
Mostly defi project only duplicate how existing defi project work, deve team have not original ide to describe that their project was better than other. Maybe right as you said , APY will be main feature to trap speculator investors. Some investors like defi that offer high APY, they didn't care how long this kind project could survive, and only thinking about profits.