Too Long; Didn't Read
DeFiat is a fully-governed, deflationary ERC-20 token with a multi-tiered loyalty reward system. Users can swap their rugged ERC20 tokens with ‘2ND tokens’, that can be later staked in DeFi farms. Uniswap is a decentralized exchange that made it much easier to list and offer your ERC tokens to the investors. There are no KYC or AML compliance requirements, and there are no due diligence requirements. The ease of token issuance without the due diligence has attracted a lot of ‘rugs’