People often struggle to distinguish between a slow cook, a rugpull, engagement farming, and a scam in the crypto space.
But let me break it down!
-A slow cook
is a project that takes time to build momentum, deliberately hitting lows to shake out weak hands before eventually soaring. đ As the saying goes, "If you canât hold, you wonât be rich." đ€
-A rugpull
happens when developers or those in control suddenly pull the liquidity from a project, causing the price to crash to the groundâliterally.
-Engagement farming
involves projects offering enticing rewards for participation and tasks, but their true motive is hidden. They're after high engagement to boost metrics and cash in on ad revenue, all while stringing along the community with empty promises of massive airdrops that never materialize.
-Lastly, a scam.
One of the most overused words in the crypto world today, it can take many forms: social engineering, fake projects, fraudulent presales, impersonated launches, fake NFTs, malicious contract deployments, and more. The goal is always the sameâto exploit and steal from others.
based on the given breakdown and your experience, in what category hamster belongs ?
