Reddit Posts
Following up on my post last week regarding Pancakeswap CAKE yield boost start
How to get real-time advanced analytics for DeFi?
The journey of a DeFi enthusiast. What do you think of this?
Don't get lured by high APYS. Always remember, if its too good to be true it most probably is
what the hell is HEX and why has it just listed on CMC (coin market cap)? Explained
If DeFi wasn't that seriuos, why would banks and entire governments be fighting it?
The only edge banks have over DEFi is that DEFi is not as well known
Thoughts on PAPA DAO and ridiculous APYS in general?
The Bitmart Hack Shows Us Once Again: Not Your Keys, Not Your Coins
Mentions
Are all of the attractive APYs in crypto possible due to “FTX Type Behavior” where they basically gamble with your deposits to be able to afford to pay out these APYS? Not sure how else a CEX or Defi platform can afford to pay like 5-12% on stable coins. AAVE and Curve type APYs make much more sense (for example).
dont put money into protocols offering sketchy APYS that aren’t sustainable let alone believable, and then cry when your money POOfs
You gotta check the staking quotas qhen the APYS are that high, for example on Binance, COSMOS has 30.54% APY but the quota for that product is only 5 atoms, so it makes sense.
Why do you think its not worth it? I mean getting access to APYS as high as 300% on the ALBT LM pool makes me think it's worth it.
farm tokens are tokens which are designed more or less to attract high APYs for individuals to put their money in certain DEFI projects, the most notable would be liquidity pools. When you provide liquidity on most DEFI protocols, they offer high APYS only because the reward normally comes in the form of the protocols own token. I.e. Pancakeswap = CAKE, Curve = Crv, Mirror = MIR, these tokens are highly inflationary and serve little purpose to be held onto, hence most are swapped for other tokens. High inflation + little purpose of holding normally results in major price drops over time as more tokens are created.
Obviously the ones I happen to be shilling. Not related but may I interest you in some APYS, IDNA, KEX or PIVX? They're all gonna moon real soon you just wait and see.
Investing in Defi is the key, even banks are also entering the Defi space.I heard EQIBank is now offering crypto services to its customers through Unido Insto.Another thing is that most digital banks will soon be able to use Defi to offer better APYS.IMO this will increase crypto adoption
Although it is understandable that you are a newcomer, please refrain from displaying your portfolio online or anywhere else as this exposes you to hackers. I will also advise you to stake your assets if possible. That is, you lock up some of your tokens in exchange for APYS. For instance, I recently staked PKR at a rate of 27 percent APY. You already have ETH, which you can stake as well. To succeed in crypto, you must conduct extensive research. And don't just buy anything you find here; instead, do extensive research on them.
Don't believe in OHMs or their forks. They are by definition ponzi schemes. They flaunt high APYS but the only way you can maintain a profit is with new money coming in. Even with new money, the old holders make out but then the new holders lose out. You can see since no new money are going into OHMs, every single one of them are crashing and burning. Get out, stay away, and get into good solid projects that are building tech
The risk you are taking on is why rewards are so high. You get those juicy 10-50, 100+$ APYS, you get10x, 50x or 100x reward and upward asset appreciation for taking on the risk. If it was less risky and more like the stock market id expect the rewards to be much lower and more ppl would do it and be in the space, thus lowering rewards as risk reduces.
Making transfers is at your own risks, so I can send money thats in my account in terms of transfers. But let’s say you do “buy bitcoin with visa” that transaction is blocked. Meaning I can’t use a credit card. (So many ways to make triple, quadruple back before the credit card bill is due, or even being conservative, there’s APYS available that’ll make me more money than I need to pay back at the end of the month)
1. There are many staking platforms like pancakeswap, apeswap, curve etc. I’m an advocate of [padswap ](https://beta-dapps.padswap.exchange) because the reward token is backed and hardcapped. 2. Yes you are correct rugpulls are rampart in defi, padswap has a rugpull proof mechanism called [DPLP](https://docs.toad.network/concepts/dplp). Instead of liquidity being locked with a third party, all the LP tokens from the team are donated to farming pools that drip slowly over time to stakers, meaning devs have only as much access to these tokens as any other user. The other risk is flash loan attacks and general hacks. Padswap isn’t possible to be flash loan attacked because there is no mint function to manipulate the supply. Spade audits completed an [audit](https://spadetech.io/wp-content/uploads/2021/06/toad_Padswap_audit_report.pdf) on padswap and there are more planned. 3. I would recommend yield farming LP tokens to earn higher APYS than single staking. It is higher risk but the rewards usually outweigh it. You can even allocate a portion into stable coin farming, padswap offers 20-140% APY on their stablecoin farms.