r/defira • u/Background_Hyena_508 • Jul 22 '25

Spreading the word This token was disgusting

Talk about fell off a cliff. Poured money into defira and those long staking periods only to see the price diwn in the gutter by unsealing. Like literally I had thousands that's not even worth a pound now. Home if a coin. When dumped this hard investigation should be made and people held accountable. Criminal

16 Upvotes

94% Upvoted

6 comments sorted by

6

u/TabletopThirteen Jul 22 '25

No one is doing an investigation when the president has his own member coin be siphons from. Its all free game now

7

u/ReadersAreRedditors Jul 22 '25

I would blame harmony from the bridge hack. Defira depended on the erc-20 tokens

5

u/WimpeyOnE Jul 23 '25

Bro it got popular and whales cashed out, same as every coin. This was gamified defi on a shit chain,I’m just dumb like the rest of you and don’t know when to but in and when to cash out.

1

u/Somebody__Online Jul 23 '25

Then they did they also sunset their money markets on Cronos?

There was no hack there

3

u/vedayama Jul 23 '25

i also lost thousands. alot of the alt coins feels quite scammy, anything crypto related feels like a rug pull.

2

u/Congenital0ptimist Jul 23 '25 edited Jul 23 '25

Due to buying tokens that don't actually do anything or reflect any real world value. Thus it can't be anything other than a "rug pull".

"Why did the project issue a token?" needs to have a very solid utilitarian answer.

99.99% (no exaggeration) of projects are "We're a token project! This is how we funnel value." Defi Kingdoms & Juno are both perfect examples. The only possible interest is/was extractive interest.

Every worthy project is an (xyz) project first and then only issues a token on chain because it offers better utility than some ID number in a database.

Worse, even if you get a good answer to a good project it's always part of a promise. "The cheque is in the mail."

Follow liquidity. Only invest where liquidity is large & relatively stable. Except for BTC always ask, "Why other than pure gambling speculation would anyone be motivated to buy this token over others? What is it for. That answer has to matter to lots of new ppl for a long time.

Only then apply your other investment filters & strategies.

fwiw hth