Post Mortem Report on DragonFarm Finance ($DRAGON)
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A moment of silence for those slain by the dragon…
How DragonFarm Finance started?
DragonFarm launched in February of 2021 just when PancakeSwap v1 was beginning to gain traction and volume. At the time, there were only a few but very successful yield farming projects on PCS. The addition of a new yield farming project was attractive to investors for that reason. While little was actually known about the type of farms DragonFarm was going to deliver, they did lock their liquidity and quickly announced a partnership with Yield Panda which garnered some temporary trust from the community.
After launching, locking liquidity, announcing their partnership with Yield Panda and getting listed to CoinMarketCap, the Dev began selling the roughly 16% of the supply that he retained as Founder’s and Treasury wallets. While this was occurring, or a little before, it emerged that DragonFarm was a rug pull and that the Dev behind this project was the same Dev as Yield Panda and Gorilla Yield. All three projects had the same trademarks, locking liquidity, announcing fake partnerships that look legitimate (at first glance) and getting listed to CMC very quickly. The CMC listings provided the Dev the volume he needed to unload his bags without being detected right away. In the end, this Dev was a master of deception and rug pulls and that is why DragonFarm has been added to RugZombie.
This project has been declared RUGGED by the RugZombie team.
What is RugZombie Doing?
- Any current holders of DragonFarm Finance (DRAGON) will be able to stake in our DRAGON GRAVE by the following process:
- Stake ANY amount of ZMBE (there is a deposit fee on all GRAVES)
- Deposit a single DRAGON token for verification
- Earn a yield emitted in ZMBE. (This yield is calculated solely on the price of RugZombie’s token, NOT based upon DRAGON)
- After a set number of days of continuous staking, you will be able to mint and claim your custom NFT.
We understand that our NFTs are rare, and not everyone will be able to participate in this grave, as not everyone holds the scammed token. RugZombie is doing all we can to identify rugged projects in our post mortem assessments.
We do not recommend buying known scammed tokens, this is highly risky and may result in financial lost and even rewarding the scammers. Tread cautiously. You can always wait for our secondary market to buy these NFTs from others.
See more about RugZombie in our other posts on Publish0x:
The information shared in these docs, our roadmap, our lite paper and white paper, and social channels such as this blog, is not financial advice and should not be misconstrued as such. The primary purpose of these documents is to provide potential token holders with pertinent information in order for them to thoroughly analyze the project and make an informed decision. Engaging in cryptocurrency projects involves substantial risk and it is strongly advised that you consult with a financial professional prior to your participation. These documents do not constitute a prospectus or offer document of any sort and is not intended to constitute an offer of securities or a solicitation for investment in securities in any jurisdiction. Neither RugZombie nor any of its contributors or creators shall be held liable or responsible for any errors or omissions concerning this project or for any damage you may suffer from your participation or as a result of failing to seek competent financial advice from a financial professional. This white paper is not in any way intended to create or put into implicit effect any elements of a contractual relationship.
Originally published at https://www.publish0x.com.