Those slumping DeFi liquidity mining projects

On 27 August, The launch of SushiSwap was announced by Twitter user Chef Nomi #SushiSwap, which exploits the core design of Uniswap. Anyone holding Uniswap LP token can pledge it into the corresponding SushiSwap pool to win SUSHI token reward.

The users who missed the COMP liquidity mining, the users who missed the YFI 1000 times increase and the YFII 100 times increase started FOMO. The popularity of SUSHI soared. SushiSwap went online within 65 hours, and more than $700m of lock-up was placed in the liquidity pool. The number of deals that mimic Mr SushiSwap is also growing.

On September 1st ethereum hit a two-year high. Then, on September 2, ethereum began to fall. Ethereum fell as much as 22.5 per cent from $480 to $372.

Against the backdrop of ethereum's collapse, the DeFi mobile mining project, the Eva, began a panicked flight. The market value of DeFi scrip fell from $18.3 billion to $13.4 billion.

Tempo BlockBeats has counted 5 collapsed DeFi mobile mining projects as examples. Many of them still have a high annualized rate of return for liquidity mining using its scrip, but can the proceeds actually be pocked?

Please note: This article does not contain any investment advice. The DeFi market may be at risk, so be careful to identify the reliability and security level of the project. Take care to prevent asset losses.

noodle.finance

Noodle. Finance is also known as noodle, and the tokens produced by its fluid mining are called "Noodle". While the highest price on NOODLE is $5.50, the current price is $0.0129, down 99.77% from its peak.

springrollswap.org

Springrollswap.org, also known as springrolls, is a fluid mining operation that produces tokens called "SPRINGROLL". SPRINGROLL's highest price is 0.046 ETH and is currently below 0.0001 ETH, down 99.78 per cent from its peak.

HOTDOGSwap.org

Hotdogswap.org, also known as HOTDOG, produces tokens called "HOTDOG" from fluid mining. After HOTDOG launched, trading volume was lackluster, with just $55,000 being exchanged in 24 hours.

KIMCHI.finance

KIMCHI. Finance is also known as KIMCHI, and its liquid mining generates tokens called "KIMCHI." KIMCHI traded as high as $8.95 and is now below 53 cents, down 94% from its peak.

YUNo.finance

YUNO also imitated SUSHI, but unlike SUSHI, YUNO's token was required to participate in six of its eight pools. The Uniswap YUNO/KIMCHI LP token offers an annualized return of 238,870 percent. YUNO traded as high as $6.43 and is below $0.0377, down 99.41 per cent from its peak.

Earlier, ethereum investors said YUNO and KIMCHI were frauds and that its core developers could issue tokens indefinitely.

Although many projects can still achieve tens or hundreds of times of annual return, such as Noodle. Finance can achieve 14116% of annual return by using Uniswap Noodle /ETH LP to mine. KIMCHI. Finance mines with Uniswap KIMCHI/ETH LP with an annualized return of 12577%. However, the high annualized rate of return does not mean that you can make money by mining. The high annualized rate of return is based on the existing value of the established token. Once the awarded token loses its value, the so-called annualized rate of return does not exist.

Rhythmical BlockBeats reminds investors to be cautious in investment and pay attention to risks.

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