Is Uniswap more dangerous than we think?

Edit: I apologize for the misleading title, I don’t mean to discredit Uniswap or Ethereum (I love them both). This is a problem with decentralization that we as a community need to step up to the plate and address.I’m not quite sure how to flair this but I think this is an important conversation to have and I don’t see anyone having it.The more I dig into Uniswap the more fake erc20 tokens I’m finding... im not going to list them all here but I’ve accounted over $50,000,000 in liquidity for FAKE tokens. For the sake of this discussion let’s focus on just one, DOGE-ETH. Go ahead and check the pair on Uni and take a look at the “DOGE” ETH contract. For those unaware, DOGE runs on its own chain and it isn’t a erc20 token. My only explanation is that someone created an ETH token, called it DOGE and deployed it to Uniswap?I’m an experienced trader, I’ve used Ethereum for many years and even I caught myself one click away from buying a substantial amount of a fake token I thought was legitimate (Polymath).What’s bizarre is these fake tokens exist period. They follow the prices of the actual assets and I’ve yet to see a rug pull on one of them. To me this feels extremely unhealthy and makes me uneasy about Uniswap in general. It’s like a house of cards ready to collapse and I’d hate to see the market devastated by the longer term repercussions on these fake tokens.What’s even worse is that I’ve been actively reporting these tokens I find in the official subs of these projects I’ve discovered to be fake. Nobody seems to care. I’ve sent lengthy and detailed reports to multiple crypto journalists and editors. Not a single response and not a single article warning users about this.I’ve posted many times right here only to hear crickets. Literally, nobody seems to have any concern.I don’t want to come off as a white knight here but I feel that people need to be aware of this phenomenon.Am I completely alone here, does anybody think this needs more attention?Fake doge pair: https://ift.tt/3tfRr70 doge contract: 0x4206931337dc273a630d328da6441786bfad668fTop holder appears to be slowly accumulating ETH by selling the fake doge minted to this address: https://ift.tt/2MMIktO

Submitted February 03, 2021 at 01:02PM