Over $1.3 billion was stolen from DeFi protocols in 2021 through scams and other types of fraudulent activity. Here's how to spot and avoid these risks.
is a large pool of tokens that a protocol uses to fulfill trades, as opposed to an order book system where buyers and sellers list their trade orders and wait to be filled.
If they’ve successfully marketed it to the wider crypto community, investors will begin adding liquidity to the pool to earn a portion of transaction fees charged to traders who use it. Once the amount of liquidity in the pool reaches a certain point, the creators dump all their tokens into the pool and withdraw all the ether, dai or whichever base token was used from the pool.
on Uniswap are scams, so the odds aren’t in your favor when it comes to investing in relatively unknown projects.
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