This new fashion on DeFi of protocols with food names have been flagging many concerns about integrity and reliability of some projects in decentralized finances, with Yam starting this journey and get undervalued just in lighting speed in about 3 days in market caused by a smart contract bug.
The new DeFi meme coin fron Hotdogswap was the last (more could come) that dumped almost 99.9% of it's value in just 5 minutes after got launched, was almost $4000 each coin and now is just a couple of cents $0.012 accordingly to Uniswap.info .
This dump caused the Hotdog meme project to crash and many people lose cash and burned all this new launched DeFi project, just to note that the protocol promises insane returns in up to one million percent APY and now can just be said that was to lure liquidity providers.
The project Hotdogswap and follow the same as Sushiswap (which is another clone of uniswap) was launched on September 2, 2020 and the project surged in price in more than $4000 per coin and provided a largely illiquid token.
I still doubt about this food meme projects DeFi and will cause a lot more harm to the market when this happens can shake the all Ethereum ecosystem, for part it's an innovative market with infinite possibilities to decentralized finances and can do a lot for people but in other hand it's turning a big trouble when this "food" or else projects just come to lure investors.
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Find also the article on my blog.
