I wish I could say it was a handful but the number of these... what I can remember now: LUNA (was huge on it, couldn't even sell since it was staked), a huge number of BSC shitcoins like Titano, Jade, Fino, safemoon (yes I was really that dumb then), etc., rebase tokens like TIME and KLIMA (stayed away from OHM cause of gas fees, I'm so glad I didn't lose even more money), etc. There are several coins too, that haven't gone down 90%, but quite a lot- XRP, XLM, ALGO, WAX etc. Even diversifying didn't help in this market.
Rebase tokens are a total scam and sketchy as heck. Stay away. I lost money with KLIMA and OHM. All rebase projects are ran by sus anonymous members and just bs honestly. Worst investment of 2021 for sure and still in 2022. Stay far away.
Hear me out. Rebase tokens simply aren't it nor belong in the crypto space w their undoxxed and anonymous owners. I'm right there with you with losses but with KLIMA. Plenty of better things to invest in besides wild rebase tokens that are barely even a year old. Simply quit chasing your losses or future potential earnings and quit OHM altogether. Simply just leave your balance and hope you can check it maybe in many years to recoop your losses. Rebase tokens arent it as the community is rife with scammers and sketchy people (Snowbank and TIME). All the high staking APR and bonding APR is simply a scheme to keep you holding and in the project.
Getting all your crypto advice from Reddit might be why you’ve never seen anything bad about it. It’s a shitcoin my guy. Yes, instant transactions are cool, but it’s goal is to be a currency and no currency will ever go mainstream without some kind of peg or backing. A stablecoin or a backed coin with free floating peg like OHM or H20 has somewhat of a shot. On top of that, NANO constantly has network issues. Reddit shill this coin so hard but it’s literally garbage. You need more than fast transactions and environmental friendliness to have utility. Any txn on extremely popular networks like Arbitrum or AVAX is instant and cheap. There are coins that do way more for the environment like KLIMA. You’re left with a “currency” with no backing and a bunch of Reddit fanboys.
Dont bother with KLIMA. It's a shit project and a shitty type of crypto called rebase tokens. My worst investment of 2021 lol im down like -95%. It's a forced hold and maybe I'll be able to cut losses at like -50% in a trillion years.
I was very interested in KLIMA before its decline. I love the idea behind of locking up Carbon Credits, but I don’t get how an high APY like this is sustainable. KLIMA still offers a 1000% apy. Meaning that even if people just hold their tokens, and no one buys in, in one year there will be +1000% KLIMA token in circulation, right? So today’s market cap divided by 1000% more tokens…logically the token will be worth 1000% less?! Is there something I’m missing ?
KLIMA DAO. One of my favourite concepts ever for a crypto. Also has s polished and professional team. It was way overhyped at launch which has led to a massive drop in token price... Which means I'm now actively loading up.
??? Very little, if anything, in crypto is what anyone should really think of as safe. If your're diversifying some risk, and take a few per cent of your portfolio to throw at crypto, that's maybe "safe." But the first answer to your question is obvious... "Don't be a noob." Study like crazy first. You know, as if you were going to take some financial risks with your hard earned money. If you believe in the future of core crypto, you've got Daddy and Mommy, (BTC and ETH), that are maybe ok long term. Then some of the - my opinion - sensible projects with true use cases... like BAT/Brave. Maybe that doesn't work out, but the whole Brave browser, more private search, and ad control at least makes real common sense. And there are others. The point is, crypto projects that aren't just some guy with a meme coin. But that at least appear to have utility. As opposed to 50 projects all clamoring to be "the" liquidity pool of the future. Now, it could be the OHM or KLIMA do in fact provide these things. I'm into these, plus staking CRO, and some others. But that's just part of a high risk portion of a portfolio. It's not the kid's college fund. BTW...where did you come up with 12%? From the sales materials on CRO staking? Again, your answer is no one knows. You don't know what's safe or not and no one else does. If you want to play a bit and look for returns, diversify across a bunch of these as best you can. (Just as with traditional stocks, indicies, etc.) For the wild claims with sick APYs or whatever? Obviously, be wary. Calculate your doubling time. Once you get to double, temper your drooling, greedy self and pull out your original investment, then let the rest ride. Worst thing that happens here is you have 2 - 4 months of risk, and then it's just patience. Or failure. But you limit the bloody mess of your finances from being in a rug pull that took out your little YOLO effort. Sure, you get to post some loss porn on Reddit. But... you're still going to cry yourself to sleep. Diversify. Put some in the dreamy "That could be me one day" coins. If they work out, you get maybe semi-rich. Great. But you don't risk everything in the meantime. If you do anyway, best of luck. I hope you win. However, you seem to be asking a sensible question, so ideally, you'll make sensible choices.
Oh yeah it’s def not a money maker right now but this is what I mean when I say undervalued. Because people realized that KLIMA wasn’t a “this thing has value right now” people dropped quick and the price fell as a result. But crypto is filled with people who expect price to instantly rise because that’s what people think happens to assets. A lot of IPOs drop a lot before rising because it is over valued for the current time but rises in price as soon as the value is proved. That is what KLIMA is doing. Proving value when the price is low and then rising in value once people see the proof.
I agree KLIMA is legit. The APY lowering was based on holder votes. The team seems to be very active, they’ve gotten quite a bit of good press. It seems like its price has stabilized a bit while some of the other DAOs are crashing now. We’ll see! It’s in my watch list.
I agree with you. For anyone interested in KLIMA. I highly recommend you join their discord. Their making great progress on their milestones and hold highly informative office hours. They can even count Mark Cuban as an investor.
Both are aware of the sell pressure that the APYs create and have lowered them over time. I think Ohm is down to 1000% and KLIMA is only 12 weeks old but been rapidly dropping now on way to 8000%. (Ohm is around 1 yr old by contrast) Can’t speak to Ohm roadmap, I only said I agree w their DAI treasury, not that I hold any. KLIMA roadmap says they’re in discovery phase now, thus high APY, by the time they reach final maturation phase there be a will be low sustainable interest rate on staked amount I don’t worry about consensus of commenters bc I do my own research and know that most here are speaking out of ignorance or are memeing
Honest question, if you read the comments throughout this whole post it is pretty much consensus that such high APYs are a massive red flag….but KLIMA and OHM are ‘different’ How does that work? From the outside looking in, they look like a Ponzi scheme. I’m sure KLIMA is doing great things for the environment, but I’ve seen many Ponzi schemes in non-crypto, but this looks exactly like a ponzi
Ohm is ok bc treasury is DAI, that’s a preferred stable in my books never liked time bc they just appeal to apy degens, defends price w burns and their basket is MIM/TIME/AVAX…AVAX being the only token of value in my mind, others are garbage. KLIMA is different though, they used the 3,3 model to bring in investors, they made some early mistakes w small liquidity but what I like is that they’re bringing voluntary carbon credits on chain. I’ve got enough stable coin backed projects on hand, like the idea of getting some carbon backed exposure in my portfolio.
I'd really recommend reading the white papers on them before espousing your "knowledge" on them, as it's more than apparent you've not really understood how OHM and KLIMA work, I can't speak for Hector as I've not looked in to it. I'm not saying they're categorically NOT ponzis. As said, they kind of are - but by that same logic, so are a lot of things.
Please fire me over contracts or confirmed financials about the product/services being exchanged to the tune of literally (at the time of writing) - $10M a day lol. The ONLY confirmed financial of any of their new deals is with Polygon, which was a $15,000 grant. Yes. a FIFTEEN THOUSAND DOLLAR GRANT - or should I say 0.15% of their DAILY REWARDS. Nothing has been shown on their partnership with FTM, but again, with how low FTMs fees are - I'd be VERY surprised if they were able to drum up the volume required to make up $10M USD a day in fees for the nodes. I've done more research since this post, and I'm cemented on the notion this is a ponzi-venture capital natured thing. They put the SUPER attractive rewards upfront, to secure capital to allow them to build out a potential architecture they could look to monetize. The problems? The networks they'd look to monetize on, don't offer rewards ANYWHERE NEAR what they'd need to sustain their daily rewards. As it stands right now, the only thing sustaining the rewards is the constant buy pressure by people wanting to start their first nodes, as soon as that stops - the whole thing crumbles, quickly. When someone buys a nodes 60% of the 10 STRONG, is redistributed as rewards to other people on the platform. Given that the STRONG is lost upon doing this, to create a permanent 0.1 yield, there is 0 buy pressure from those that got in early (like a ponzi) and it's success is ENTIRELY dependent on new buyers of the multiple 0.1 yields (like a ponzi). OHM/TIME/KLIMA actually have an interesting game theory put forward that isn't reliant on dubious/undocumented contracts with networks, but solely on a clever monetization model - that whilst yes, in a sense is a ponzi scheme, nobody is capped by people that came before them. You could join today and immediately start making the same rewards as someone who's been in OHM since day 1. The revenue for OHM/TIME etc is generated from bonding in which dilution is passed on to holders. Is it a ponzi? Kind of, but nowhere in the same way that STRONG is.
>My favorite project, and a good project for beginners to look into, is Augury Finance on polygon. Man your post is so good then you shill this project and I check it out and what are the first liquidity pools I see? KOGE SHI3LD KLIMA DAO BREW Which are all the exact type of shit you're warning about! 🤷♂️
No - it's staking the currency, KLIMA, and you get KLIMA back. The APY isn't fixed and is intended to decrease over time. I'd guess over the next year it may average to about 5000%. Currently over 40,000%. I've more than doubled my KLIMA stack but the price is down so much than overall I'm down by a lot. It's backed by BCT and the DAO functions like OHM, ROME or TIME. I think it's risky but fundamentally makes sense over a long enough horizon.
I think OHM, KLIMA and Wonderland are good, but you have 10000000 forks that even some of those are now even bellow the intrinsic value price and theres no treasury intervention... Most of them are a scam. After those 3 good ones, maybe you have a couple more that are good, but the majority are trash as all the copy dogs has been.
They offer crazy high staking returns via a rebase mechanism, that gives you more OHM 3 times a day, compounding the longer you hold. Of course that’s independent of the value of the coin, which could go down. I’m invested in KLIMA DAO[KLIMA DAO](https://www.klimadao.finance/), as another example and right now the APY is 70,000%, or about .54% every 8 hours…. But the token value has gone from over $3k to just over $600 in a month. If I wait it out and let the rebase compounding do its work my return could be nice, but at the moment I am underwater on my investment.
1. Never tell in the internet how much money you have. 2. I have no idea what KLIMA DAO is. 3. Harmony is good and solid project. 4. If you need to ask, you are unexperienced investor, so better to play it safe. 5. Put most of those money, lets say $30k in BTC and ETH it is safe choice. 6. Good option now are metaverse and gaming coins. I personally invest in Gala, Sand, Enjin and Mana. Those four are also probably most popular ones, so it is worth to check them for you. 7. Some good alts to diversify are CKB, Harmony ( which you already plan to invest), Algo, Luna, Rose, Graph, Atom, Bat and Vet. 8. Always DYOR, do not just trust opinions of random people in the internet.
>My current plan is to put 10,000 into KLIMA DAO because I love the mission so even if it tanks I’m okay with that. IMO go for a safer investment now and invest in the things you enjoy personally later when you can donate with more force.
BCT is a nice “stablecoin” Instead of being backed by US dollars, it’s backed by carbon credits, another real world asset. It’s used in KLIMA DAO, basically OHM but instead of being backed by DAI, it’s backed by carbon
Ya the APY is wild and it's definitely risky but they're forks of Olympus and I personally know people that have had success with Olympus so I'm optimistic. KLIMA is another interesting one on the Polygon network, although *only* offering ~38,000% APY right now.
If you're serious look at rebase tokens. +100,000% APY and they're NOT moonshot coins. OHM is the original so definitely research that one first but TIME and KLIMA are current successful forks. They can be volatile, even for crypto, but I assure you are serious projects miles away from memecoins and moonshots.
Why would you not stake, especially if you're going to buy those particular coins anyway? You don't stake - You get the gains in value You do stake - You get interest, which compunds, and the gain in value You've other options too. If you want to take a completely random punt, there are some crazy high interest rebasing coins out there like Olympus DAO, Time Wonderland or KLIMA DAO. Not sure how legit the projects are, but they're out there
The fact that they're printing money like crazy is not a good thing. Unless their price is decreasing slower than the rate at which they're printing tokens (meaning mcap is increasing), you're actually losing USD, because you're being given increasingly worthless coin while your stack is also being devalued. I would stick with either OHM, TIME, or KLIMA if you're going to get into this space. Here's a good video as to why super high APYs (100k%+) will actually work against you with these forks: https://youtu.be/46V8t8c6WCA
Seen someone I follow on twitter in OHM for the past \~1.5 months and they have gotten great returns. I put some in KLIMA and OHM, OHM seems stable w/ 6+ months of history and KLIMA pretty new. As long as no massive drop in price they both actually are giving the returns they are promising over 5 day ranges. If APY goes down youre still up significantly - Im planning on holding for 45 days.
Honestly, it’s not worth it if you’re looking to make decent gains if bitcoin does a further 2x in the next 2 years (which would be pretty insane) you’d have $200. Research KLIMA DAO, 35K APY. $100 will buy you roughly 0.0625 KLIMA, and in 1 year that would be worth 22.04 KLIMA. Even if it drops by 99% from current price, you would still have over 3x gains in a year.
By far the best compounding yield is in the rebase tokens - OlympusDao (OHM), Wonderland (TIME), and KlimaDAO (KLIMA). Here's some docs to understand the general mechanics: https://every.to/almanack/olympus-dao https://www.blocmates.com/blogmates/a-complete-guide-to-wonderland-money-time-mim-and-memo
I've got some money in OHM and KLIMA which offer like 8000% and 30000% APY, respectively. Should be able to take out my investments in a month or two. Are they scams? Not sure but willing to risk a small amount of my portfolio. 😅
TIME is on Avalanche. I've had good results from TIME so far. Its a bit paradoxical, but unlike most coins rebasing is not a pure 'number go up' play. That helps obviously, but it's more about leveraging the insane APY over a mid-long time horizon. I got into KLIMA today. My understanding is these two are forks of Olympus, but I have no patience for the gas fees on Ethereum. Good luck out there!