This dApp is identified as high risk based on
Red Alarm
LycanFi
DeFi
The scariest algorithmic stablecoin on the Binance Smart Chain.
Overview
Statistics
About
LycanFi StatisticsBNB Smart Chain
BNB Smart Chain
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LycanFi
About LycanFi
What is LycanFi?
LycanFi is a high-risk dApp that claims to be the scariest algorithmic stablecoin on the Binance Smart Chain and pegged to the price of 1 BUSD via seigniorage. According to the whitepaper, Lycan Finance is a tomb fork where the team tweaked the metrics according to experiences in the space in order to make it successful. The rewards for the LYCAN-BUSD LP genesis pool were increased to incentivize people to create LP instead of dumping their LYCAN’s.