Many Failed Defi Project

[Jems00 3]

On this year 2020, I see numerous Defi Project has failed, have any thought that why Defi Extend has failed? Everybody requests that their platfrom is genuine and will be effective but most extreme project faile to victory in crypto advertise. What is your considering approximately this?

[Upba80 80]

When Defi has very popular on crypto world, then many fake, scam project come on the market. They are all was fake i noticed it. Already i joined on some Defi project and the all project has Scamed.      

[Waseem jabbar 185]

In my point of view, there are many field in the world that pay the money but online platform is the best and safe platform to get more profit. So Defi field is most useful and secure app in the online market .so Defi site is the best.Thanks 

[Abdullah king 47]

In this year 2020 maximum Defi Project Failed I don't know why? All of them claim that his project is real and will be successful but maximum failed to success in crypto market.

They also destroyed too much people funds because people trust on them and invest here but in the end his defi project become failed.

[Whited35 15285]

Some DeFi projects got failed but there are still so many decent DeFi projects which are the first choice for the potential investors who are searching for the financial freedoms off DeFi.  Some DeFi projects were flopped due to following reasons:-

• Bugs in the smart contract of DeFi platforms. 
• Weakly constructed platform. 
• Over hypes to introduce the new DeFi platforms and their products. 

[Aqsa1234 142]

It may be that defi projects have been failed but I think that there will be the users own mistake in making that project . Because as far as I know defi is very easy and simple to use so there are so less chances of getting failure . So we should be careful in doing our work. Thank youuu!

[Jojojo17 77]

One of these is Shark DeFi. And it was failed, but not for owner - for investors. Don't remember when exactly it started, sometime in the Autumn, and the owner scammed all the investors for 7 mill dollars. I was one of the investors as well, and it wasn't obvious scam, vica versa, because it was listed on good cryptoexchange. 

[Sykkuno 2887]

The problem with the DeFi is that it is said to be decentralized but there is a catch in many of them. They are mostly anonymous projects and this allows scammers to go unnoticed and without many clues given if these exploits were already premeditated or were accidents and attacks. The big question is with the audited contracts that should not have bugs, yet many of them do. It should be better developers in those firms that audit the contracts as they are getting paid for this by the projects, but we don't even know half of what is going .

[M arbaz 294]

Hi my dear. The problem with the defi is that it is said to be decentralized but there is a catch in many of them. So defi field is most useful and secure app in the online market.  Gain experience to be able to do it completely correctly for you.

[Hasnain Afzal 102]

I can not know about defi becouse i cannot use it .i involve some other projects and earn money .I heard that defi is the best side and its many projects faild but i not know about it.

[Muhammad waseem meo 44]

I do not know anything about defi but i do not nowof use it.I have worked in many projects of this  mony.Like I want to work on this is a very good project but  he is not now about  it

[Muhammad waseem meo 44]

Don't know much about this defi.Have heard anything about this project .i think of this  project of with  failed of cryptocurence is very  low.Like a very easy and simple of the wey is defi.I want to do the work by please and tell it about it .

 

[Muhammad waseem meo 44]

He is very famous and one papular and great ap of this world in the  market .We can invest money and information of this app.defiis good  and proper app of this world.defiis good  best further of the work is world

[Mahedi 38]

The DeFi is that it is said to be decentralized but there is a catch in many of them. They are mostly anonymous projects and this allows scammers to go unnoticed and without many clues given if these exploits were already premeditated or were accidents and attacks. The big question is with the audited contracts that should not have bugs, yet many of them do. It should be better developers in those firms that audit the contracts as they are getting paid for this by the projects.

[Calvinpriva 17296]

DeFi is a good project because it's easy even for small investors to earn profit in legit YF pools, but in other side DeFi has many failed projects just as you said. Many scam projects and many uncontrolled projects which failed at the end as well, so we just have to be careful because not all DeFi projects are good.

[Abbas126 29]

We all know one thing, security and trust is the main concern while working in the online market. When Defi came into existence, many others scams projects also tried to pave their ways in financial services and failed. It put a bad effect to the Defi solutions. The lack of advertisement is another misconducting that left a hole.

[Calvinpriva 17296]

On 1/25/2021 at 6:13 PM, Showrov03 said:

Because as far as I know, using defi is very easy and easy, so the chances of failure are very low.

@Showrov03 Yes, using DeFi is very easy, and this is biggest problem for many people to lose money in some DeFi projects. Scammers are using this as an opportunity because they know we like easy way to earn profit, so they create many fake projects and at the end we lose money by trusting them. So just as you said, we should be careful because DeFi is good, but it will not be profitable to everyone or everyday.

[Adil meo 24]

hello my friend i am also new here and i don,t know anything about that project .

[Nayeem165 23]

DeFi is good, but it will not be profitable to everyone or everyday.Defi came into existence, many others scams projects also tried to pave their ways in financial services and failed. It should be better developers in those firms that audit the contracts as they are getting paid for this by the projects, but we don't even know half of what is going .

[huesca123 946]

Many Defi projects start out as scams & end as scams. But that doesnt mean all Defi projects are scams. Some Defi projects start out good only to fail for one reason or another. Then many Defi projects will have all their early investor dump their coins / tokens when the project comes online. Basically a pump & dump. There are now Defi projects that are protected from pump & dumps. See below.

 

I made 2 Topics here in the forum about 2 new Defi projects. One is Bitcoin Open & Bitcoin Black. They both have very interesting white papers. They both offer solutions to some of the problems of the original Bitcoin. Like transaction fees & speed of the block chain. They are also giving out free coins / tokens so that there will be no whales to control the price. They are offering free coins / tokens just for signing up & no KYC. Bitcoin Open is giving away 25 coins / tokens now. Bitcoin Black is giving away 3,600 free coins / tokens.

Edited February 11, 2021 by huesca123
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[kryptonick 2659]

I can't say with safety that many DeFi failed. Some had seen exploits because of faults in the code of the smart contract but managed to survive. See for example Sushi that we didn't expect to recover after the original fiasco, however it did and is now one of the top used DeFi platforms.

[MrSpasybo 1049]

We see the DeFi wave is over, here are some of the reasons why many DeFi projects fail:
+ idea is not very different: mine liquidity pool;
+ is created in a hurry, many errors in smart contracts, hacker attacks;
+ no large community;
+ token price plummeted;

In addition, some DeFi projects were created to scam investors 🙂

[Fiyyaz7711 51]

Hy dear friends and members please help me here to know more and information here for defi. I am new member here and interested to work on line for the purpose of earnings.

[Ridam 7455]

Well there are many reasons behind the project to be failed. If we see some projects are just in the De-Fi ecosystem for the quick money and they lure the users too invest and endup doing a rug pool or a scam exit giving it  a name of hacks and many different issue. But not all de-fi projects have such intention and there are good projects with good team and full support for the development and fulfilling the road map and supposed development. 

So taking entry in any de-fi projects should be done with more cautious as few may change your life whereas some may cause the heavy loss. 

Also there is de-fi trend ongoing still less than nft but yes there is hype for the de-fi as the most innovation is happening there in the crypto field. So some bad minded are taking benefit of this by purposing the hope for the projects and ending up doing bad deeds.

[Zrnabaly 179]

In my opinion now the scammers are many and they only try to scam therefore they try not to be scammed. This is my opinion . 

And there are also may be hackers there . But there are different things by which they failed.

Thanks.