Why should you avoid high return DeFi smart contracts?


Hey guys i hope you are doing well. Today in this post i want to talk about DeFi smart contracts. I am not targeting any single blockchain here but my motive is to share the truth.

You can see this type of lots of smart contracts on tron blockchain. Yes there are other blockchains those are also provide this type of smart contracts But there are many more here and come to the daily.

So what is the base of these smart contracts ? If you see these smart contracts then you can see that these smat contracts are decentralized and there is no owner and I have no doubt about it but the problem starts when these are high returns smart contracts.

Actually there is no product and usecase in this and the main thing is deposit and withdraw (pure gambling). So early adopters get the more money here.

Blockchain is the transperant and you can see the smart contract funds by visitng contract address and within 24 hours This balance is over for sure because of that high return rule.

These sites giving 25% to 100% return per day. So in the other words i can say you are rolling your money here. As i said, it does not have any base. The base is deposit and withdraw so now just imagine how much risky it is.

If you join this smart contract immediately after launch and later you invite your friends then obviously you will get high return but what about your friend? He/she will even not get his/her capital. So you are ruining your reputation here too.

That is why i am saying that you should avoid this type of smart contracts. I am not saying all smart contracts are scam. There are real projects as well but the daily return is low there because these projects are genuine.

If you people will not join it, then the developers will automatically stop making such smart contracts and only good smart contracts will come in the future.

So that's what i want to share with you. If you are agree with me then i am glad and if you have any doubt or something to say then let's discuss in the comment section.

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Thank you @crypto.piotr and team for this great community


Comments 6

Hi @luckyali
Certainly, as you explain it, it is necessary to take the necessary precautions.
Thank you for sharing this excellent reading.

Have a great day!

18.03.2021 15:31

Yes we must have to take precautions., Thank you for your feedback

20.03.2021 02:54

hello @luckyali ,
I agree with you nowadays scammers are looking for ways to make money at the expense of people's lack of information, for them it is easy to create a smart contract and then offer great returns for the capital and then they just disappear with the money this is very common, that is why before getting involved in an investment you should do some research about the project you want to invest in

19.03.2021 02:46

Exatly my friend. The truth has been spoken ♥

20.03.2021 02:54

As we all know defi is giving good return but we need to be play safe as high return high risk factors of getting hack by the hackers. Play safe with your hard earn money.

20.03.2021 07:32

Absolutely my friend. But i think we should avoid high return DeFi smart contracts which is pure gambling

20.03.2021 09:02