The success of Pancakeswap and the BINANCE blockchain is undeniable but when a project works so well, many will try to do the same, expecting a similar result.
I want to issue a big warning to all those people who are investing or working within the Binance Smart Chain. Be very careful when adding liquidity and farming new tokens.
Just because Pancakeswap and its Cake token do well does not mean that whatever does it will do. There are a lot of tokens coming onto the market that are bullshit. Literally complete and utter garbage.
Within the BSC dozens of projects similar to Pancakeswap will be created, with the same Script, design and even with their own decentralized Exchange. This means nothing, they have nothing to do with Pancakeswap, even if they are active on social networks or retweet Binance and Pancakeswap publications.
Some of these projects are Icecream, Thugs.Finance, PancakeBunny, Pizzafinance, CheeseSwap, Kebab.finance ... I am not claiming they are Scam, I am just saying that these platforms are not audited or the audit has labeled them as high risk. They are very vulnerable to being hacked and their tokens will be a shadow of Cake, the volatility is tremendous.
Recently IceCream has already fallen and a few weeks ago I discussed the case of Thugs.Finance whose token Drugs depreciated in a matter of hours until it is worth almost 0.
If you are going to diversify your portfolio, make sure where you put your money and what tokens you want to buy. Currently, the only one in quotes, which may have a future is Pancakeswap and Beefy. The rest are cheap and opportunistic copies that may be able to last over time.
