One might have thought that the recent increase inscam rates of Defi projects might be a major problemhindering Defi products or services from scaling higherand going mainstream. However, it is not a majorproblem nor is it the reason why Defi projects haven’tgained so much acceptance even though they havegained much attention. All that notwithstanding, scamsby projects/teams are definitely problems of Defi and wehave seen a lot of cases where projects dump tokens ontheir communities/token holders, and exit withoutfulfilling promises made.As soon as Defi made the headlines for better use casesof blockchain technology utilizing the Ethereumecosystem, most people jumped into it withoutthorough understanding as to what they could achieve.Projects rose up to make quick bucks. We saw cases ofCEOs leaving the projects after exit scams. What couldhave been the most spectacular experience forcommunities and cryptocurrency investors became whatinvestors saw as fuzz. Instead of building solutions usingDefi to sustain a scalable ecosystem, they generatedproblems that the YOFI project intends to solve.
Powered by BetterDocs