BNB Chain’s Dapp Bay High-Risk Project List Update: Pinaki, Elvantis, Leech Protocol, and More

04/17/2023 09:25 • Daily Digest • 63 views

On April 17th, BNB Chain updated its Dapp Bay high-risk dApp red alert project list. This week’s list includes Pinaki, Elvantis, Leech Protocol, Streamflow, Only Brain, XOP Project, and more. The 191 new projects on the BNB Chain that have been added to the list are either suspected of issuing fake tokens, high or opaque taxes, or simply because their website or Twitter handle is not working. The active warning of BNB Chain does not represent the risk level of the underlying DApp project. On the contrary, it aims to help users conduct research before making investment decisions.

BNB Chain updated the DappBay high-risk dApp list, with a total of 191 high-risk projects

Introduction

On April 17th, BNB Chain announced an update to its Dapp Bay high-risk dApp red alert project list. The list contains 191 new projects on the BNB Chain suspected of issuing fake tokens, high or opaque taxes, or whose website or Twitter handle is not working. In this article, we will examine this update in detail, its implications, and suggest ways users can use it in their research before making investment decisions.

What is the BNB Chain High-Risk Project List?

The BNB Chain High-Risk Project List is a compilation of Dapp projects that are deemed high-risk by BNB Chain. These projects are added to the list due to the issuance of fake tokens, high or opaque taxes, or other issues. The active warning of BNB Chain does not represent the risk level of the underlying DApp project. On the contrary, it aims to help users conduct research before making investment decisions.

The Latest Update of High-Risk Project List

The latest update of the BNB Chain High-Risk Project List was announced on April 17th, 2021. The update contained 191 new projects that have been flagged as high-risk. The projects included in the latest update are Pinaki, Elvantis, Leech Protocol, Streamflow, Only Brain, XOP Project, and more. The update is to help users identify potentially high-risk projects before investing their money.

What Are the Risks of Investing in High-Risk Projects?

Investing in high-risk projects can come with several risks that can lead to a loss of investment. These risks include:
1. **Scam Projects**: There are many scam projects in the crypto world that promise quick profits to its investors. These projects usually issue fake tokens that have no real value, and once they reach a specific price, the developers can sell their tokens, leading to the price plummeting.
2. **Opaque Taxes**: Some projects impose opaque taxes, making it difficult for investors to understand the real cost of their investment.
3. **Unreliable Websites and Social Media Accounts**: Some projects may have unreliable websites or social media accounts that do not provide the necessary information about the project, making it difficult for investors to make informed decisions.

How to Mitigate Risks When Investing in DApp Projects

To mitigate risks when investing in Dapp projects, users should:
1. **Conduct Thorough Research**: Do your research by reading white papers, checking social media accounts, and checking the project’s website.
2. **Check Independent Ratings**: Check independent ratings and reviews to see how the project is doing and its potential risks.
3. **Limit Your Investment**: Limit your investment to a small amount that you are comfortable losing.

Conclusion

BNB Chain’s High-Risk Project List is a great tool that helps users identify potentially high-risk projects before investing in them. The latest update of the list contains 191 new projects, including Pinaki, Elvantis, Leech Protocol, Streamflow, Only Brain, XOP Project, and more. To mitigate risks when investing in dApp projects, users should conduct thorough research, check independent ratings, and limit their investments.

FAQs:

1. How often is the High-Risk Project List updated?
A: The High-Risk Project List is updated periodically to reflect new projects that have been flagged as high-risk.
2. Can I invest in High-Risk projects?
A: It is not advisable to invest in high-risk projects. However, if you choose to do so, limit your investment to a small amount.
3. How can I check if a project is on the High-Risk Project List?
A: You can check the High-Risk Project List on the BNB Chain website.

This article and pictures are from the Internet and do not represent qiAiAi's position. If you infringe, please contact us to delete:https://www.qiaiai.com/daily/16045.html

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.