I signed up for a FlanoSwap account last week following this shill post from @trumpman - he was clearly doing it for the referrals which bring more tokens the more people you get to sign up with yer code.
Flanoswap is a DEFI project, apparently poised to launch on the Cardano blockchain when the Alonso HF goes live probably sometime in September.
Initially I didn't suspect anything - it just looks like yet another another new cutsie DEFI project, another clone of Pancake, Ape, Banana Swap but on Cardano not BSC.
(What is it with these clones anyway? - Pick an animal or a food-item and create a DEFI project! Some originality might be nice somewhere along the line!)
However, this woman in the video below has had a trawl through the site and thinks it might be a scam - NB I've no idea IF flanoswap is a scam, but she did pick up on the fact that the social media team profiles have been created very recently and ONLY seem to mention flanoswap, and since then I noticed that Flanoswap have taken down the Team info altogether from the Website.
It's just something to keep an eye on - careful with this one!
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I have a general rule now. If it's not yet launched and I don't have a clue about who is behind it or if something looks off on the site I don't invest. If the sites looking legit I might invest some but it's only funds I'm ok with losing. Majority of the time though I stay away as we already have solid options and there's really no need.
Fair point! It's also a bit grim chasing the DEFI tokens.
Better of sticking with what you know you're right I agree.
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I've also recently been watching Cardano's foray into DeFi.
They're talking a big game with the technical ability to now host smart contracts.
But I just can't see any serious projects veering away from the decentralised stability of Ethereum, or the sheer size of BSC.
To me, FlanoSwap (lol) just isn't worth the risk when there are relatively safer DeFi options on other chains.
Cub Finance, anyone? ;)
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I know what you mean, stick with what you know, lot to be said for that!
Sundae Swap looks interesting, and I like to be diversified - Osmosis is working out well. And there's a lot of fans of Cardano.
NB - SundaeSwap seems legit, I've seen interviews with lead Developer so there's an actual face!
Also TBH the way things are going with Splinterlands I won't need anything else!
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I hope not, I burned 40 Leo to promote that ref spam 🙈😂
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Well it's only $10!
It might look a bit more legitimate once they've put more convincing fake profiles in place.
So fingers crossed.
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