Most of the recent DeFi projects have been totally unsustainable “yield farming” or “liquidity mining” dapps that essentially memed theirway to the top before crashing spectacularly. These projects were destined to fail because they didn’t reward long-term holders, and they freely gave away most of their tokens to whales that immediately dumped them as a thank you. In addition to having poor tokenomics, some of these projects were actually created by malicious teams that “rugged” by pulling liquidity or minting and then selling enough tokens to drain all of the liquidity on Uniswap. As you can see, it’s getting pretty scary out there, but with your help, we can change that. It’s time to protect each other. It’s time to stop investing in projects with unverified code, unaudited code, or an unfair distribution. It’s time to raise our standards and demand projects that focus on transparency, community, and sustainability. It’s time to surf.
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