One might have thought that the recent increase in
scam rates of Defi projects might be a major problem
hindering Defi products or services from scaling higher
and going mainstream. However, it is not a major
problem nor is it the reason why Defi projects haven’t
gained so much acceptance even though they have
gained much attention. All that notwithstanding, scams
by projects/teams are definitely problems of Defi and we
have seen a lot of cases where projects dump tokens on
their communities/token holders, and exit without
fulfilling promises made.
As soon as Defi made the headlines for better use cases
of blockchain technology utilizing the Ethereum
ecosystem, most people jumped into it without
thorough understanding as to what they could achieve.
Projects rose up to make quick bucks. We saw cases of
CEOs leaving the projects after exit scams. What could
have been the most spectacular experience for
communities and cryptocurrency investors became what
investors saw as fuzz. Instead of building solutions using
Defi to sustain a scalable ecosystem, they generated
problems that the YOFI project intends to solve.

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