🐱Copy-Cat

"Imitation is the sincerest form of flattery..."

2 projects called PolyKiwi

Projects that try to copy others, in order to confuse and scam unknowing users are, unfortunately, very common in the DeFi space. Often they would use either the same name, or a very similar one, to the project they are copying, and sometimes also copy information found in their docs and website as well - and set their launch or announcement dates very close to the project they are copying. They do this to confuse new, unknowing users and lure them into their copycat platform, in order to later scam them. Beware of such instances, as they happen very often! We have also fallen victim to people trying to copy us...:

Another project with the sole intention of scamming investors was set up at the same time as our token launch, aiming to feed off our hype. They went as far as hijacking our launch listing on Ape O'clock and copying our docs word for word. Their review on Rugdoc also stated this copycat is a scam. Within one week from launching farms, "Polykiwi.farms" (the copycat project) soft rug-pulled and closed all their social media.

Click here to see the Rugdoc review of the copycat.

How are we different?

Firstly, we were first! This is proven by our Telegram channel creation and docs upload dates. Sadly, the copycat closed their Telegram, so you cannot check this anymore.

Secondly, our tokenomics are set up with sustainability in mind. The copycat had an extremely high mint rate and token price, which is clearly unsustainable.

We haven't deployed our Masterchef contract and, therefore, farming has not started yet. This is so we can implement suggestions made by Paladin to maximise smart contract security (smart contract code cannot be changed after deployment). The copycat only bothered to do a Rugdoc review (not an audit) after deploying their smart contract with serious security flaws. Rugdoc labelled the copycat as medium-risk and gave this update;

"Update: Apparently some lame chain soft-rugger that always uses the same gimmick by pulling liquidity right before launch. Everyone on reddit is laughing at them for doing the exact same thing every single day for the past week or so now. No hard-rug risk." - Rugdoc

Always beware of copycat scam projects and protect yourself by only following or bookmarking the official PolyKiwi Finance links posted here!:

What was the outcome?

We are happy to see that they are gone, but are now left in the unfortunate position of association due to sharing the same name - PolyKiwi. We understand the confusion this may have caused and may continue to cause, and hope that the information above provides enough clarity over the situation.

How to spot other copycat projects in the future?

As mentioned above, newly emerging projects trying to copy others with the aim of scamming their users is very common on DeFi/yieldfarming platforms. It is, therefore, very important to always double check the links and contract addresses of tokens and platforms you interact with. However, there apart from some of the tell-signs listed above, there are a number of other factors to watch out for and that can help you spot scams easier.

We are currently working on a Medium article to explain just that in detail, so that you are less likely to fall victim to scams in the future, and will share the link for it here, once published 😉

If you have any further questions regarding this, please do not hesitate to contact us via one of our channels listed above! We're happy to answer all your queries. 🙌

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