DeFi Jest Token FEW Flies Over the Heads of Community

By its decentralized nature, the Uniswap DEX allows any token to be listed, which often includes fake replications of existing tokens, scams, Ponzis, and in this case spoofs. A Telegram group populated by some notable cryptocurrency community members was recently airdropped a random ERC-20 token called FEW by Ethhub founder and author of The Daily Gwei, Anthony Sassano, among others: https://twitter.com/sassal0x/status/1308513056306073600

Few Understand FEW

Several screenshots were subsequently leaked from what on the surface appeared to be a private, invite-only pump and dump channel made up of various crypto influencers.  The one garnering the most reaction was Sassano’s comment ‘yeh we need people to dump on’ in response to a suggestion on limiting invites to the group. YFI Pulse author, BlueKirby (@bluekirbyfi), took umbrage at the behavior in a tweet that attracted a lot of sympathetic responses admonishing the performance: https://twitter.com/bluekirbyfi/status/1308532141504913408 Cinneamhain Ventures partner Adam Cochran replied; “I see a lot of names on there that were recently shitting on other projects. Super disappointing to see this crap.” Ethereum advocate Sassano has since stated that this was just a joke and the token is worthless after the vociferous reaction from the crypto community:

“It was a random ERC20 token that was airdropped to people in a Telegram group (I was randomly invited and airdropped tokens, not affiliated with it in any capacity). Please do not buy this token – it’s worthless.”

It's just shitty lol… people who know me know this is just my sense of humor and was a joke

But it's going to circulate and be taken out of context regardless

— Anthony Sassano | sassal.eth 🏴 (@sassal0x) September 22, 2020

Several community members defended Sassano adding that those true to the development of DeFi and Ethereum know how much work he has put in over the years, and this was indeed just a joke:

All the people defending @sassal0x are the accounts I follow and all the people trying to bring @sassal0x are largely anon accounts I've never seen before.

That's some signal.

— DavidHoffman.eth 🏴 (@TrustlessState) September 23, 2020

From DeFi to NFT

FEW appears to have been spawned from the likes of MEME, which has been on fire as of late. Meme enables users to stake its native tokens to farm limited edition crypto art or non-fungible tokens (NFTs) which can then be resold on the open market. Over the past four days, MEME prices have spiked almost 500% to top out at $1,900 according to Uniswap. The DEX analytics dashboard also lists different versions of FEW and it appears that some people did indeed buy into them over the past few hours:

 

This little incident reinforces that in the cryptocurrency space, especially in things concerning DeFi, always do your own research!