Farmers now moving on to https://t.co/uJXPe0vVKe
Which made sure to tick all the new DeFi boxes
✔️No venture capital
And this tagline:
"This project is for defi degens"
Will surely* make people take extreme caution 😬
Assuming it's not just a straight up scam (which is a hard to justify assumption), it's a stablecoin with none of the benefits of a stablecoin. If the value of the coin goes above or below a dollar, then it adjusts the number of coins in wallets to compensate (so the number of coins is adjusted to match the market cap in dollars). So you get the same volatility, but it's more visibly represented as the number of coins you have, rather than their value (which should stay around a dollar).
A copy/paste scam token thats been advertisied alot on biz the last couple of weeks. A hybrid mix of traditional defi (something something yeild), mixed with a hip phrase 'based' to really reel in the sucker.