If you thought this analysis was bad, look at this new research: Rug Pull: 97% Of Crypto Projects On Uniswap Were Scams, Study Reveals
More details here: Report: 97.7% of tokens launched on Uniswap are rug pulls
In this paper, we expand the rug pull dataset of the paper to 27,588 tokens. To do this, we collected all Uniswap data until 03/09/2021 by directly interacting with the Ethereum blockchain. In total, we labeled 26957 tokens as scams/rug pulls and 631 tokens as non-malicious.
Here is the actual report: Do not rug on me: Zero-dimensional Scam Detection and abstract.
I've always said Uniswap sucked.
Scammers will follow the money wherever it goes. Certain characteristics of the DeFi ecosystem, like the ease of producing and listing new tokens, have made it easier than ever to execute rug pulls.
Exactly! Rubbish algorithm that attracts the greedy and gullible - and those who prey on them.
However, the report does go on to suggest scam detection algorithms. Oh, poor Uniflop.
Vitalik kept shilling uniflop - time to move on!
the biggest flaw is it spreads contagion - and is easy for scammers to attract the naive and greedy and innumerate.
hehe maybe some one had to come out of the corner and built a real good place similar to uniswap with more comfort for the users and more value in the coins what was offered, hehe and for instance with a much better math behind, right !?
IMO it already exists, but like so many devs, they did the hard work of building the engine, but they hope others will put it into a car fit for consumer drivers! Really, is an opportunity waiting to be grasped. lol.
I always thought uniswap was garbage - then eventually i figured out how I could make money from it - but it's still garbage - no better than the HYIP scene ponzis, just twisted into pretzels!