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AVAX Dao's can seriously damage your wealth.
Current price at time of writing $0.833418
All Time High (14 days ago) $85.60
So if you invested at the top you now have a 99% loss.
Current price at time of writing $90.75
All Time High (13 days ago) $759.93
If you went in at the summit and slid down the mountain to the bottom, you're now down 87.7%
Don't be easily fooled by the price you see, it may be very low but can still give you painful frostbite.
Current price at time of writing $0.000000000087
All Time High (13 days ago) $0.000000000222
Certainly not the worst, but still a highly devastating loss of 60.7%.
I am certainly not saying Avax is a dodgy network at all, as the BINANCE smart chain has seen many similar events unfold.
All it takes is someone to hold or buy a big bag and dump them, it can also be done by the team known as a 'Rug Pull'.
This can happen also and quite commonly happens with initial token offerings in whatever form they take.
If you know what you are doing and you get in before the FOMO kicks in, then you could easily make thousands upon thousands.
You always need to know when to get out, because it will come down like a ton of bricks, so realise your profit and take it before you lose it.
For me personally I don't do DEFI on either AVAX or BSC and prefer the Cronos Blockchain. The angle I look at it from is that Crypto Dot Com is pretty much centralised and has to comply with various worldwide regulations and wouldn't knowingly or purposely allow anything too dodgy on the Cronos Blockchain.
DON'T FORGET APY% and APR% ARE NOT THE SAME THING.
If you see a Dao Token offering a 'Gazillion'% APY, it's because they want the money to fly in which increases FOMO, So the large APY% is like a huge capacitor waiting to be charged up with your money as it rises, so does the Fomo then all of a sudden your money has gone to nothing in a flash.
Are you clever enough to outsmart a BSC RUG or fast enough to outrun an Avalanche?
