Reddit Posts
MEXC is a legit CEX even though it looks a lil sketch.
Moons are Pumping!!! Up 60% in the past 12 hours! MEXC is a legit CEX.
A Coin's Website should be a main factor for if it's a scam or not
Yieldly, Algorand's only DeFi, has moved to Polygon, leaving YLDY investors feeling angry and confused...
HODLing and Maximizing Staking Potential
What is your plan for your crypto if you die/are incapacitated?
For those holding heavy BTC and Eth and are maybe curious about Algo or have a small bag and want an easy way to increase it, with potentially very generous rewards, now is a great chance to take advantage. TRIPLE dip opportunity happening right now.
Traded some leftover LTC for ALGO and tried out their ecosystem today.
Happening now: Yieldy is skyrocketing on Uni.swap, although there is almost no price movement on MEXC. Huge arbitrage opportunity for whales!
Happening now: Yieldy is skyrocketing on Uniswap, although there is almost no price movement on MEXC. Huge arbitrage opportunity for whales!
No loss lotteries (NLL) Noob guide
I built an easy-to-use conversion and calculation tool (e.g. type 1.5 YLDY + 2 ALGO in USD)
Hola. I'm Marshiva the Cryptoqueen. I combine Drag and Crypto tutorials. My first is about YLDY ALGO and OPUL. Open to constructive feedback.
Algorand gets a lot of love on this sub but I haven’t seen Yieldly YLDY mentioned much. Is it still too new?
With prices rising now, what are you planning to buy?
I Wrote A Step-by-Step Guide to Yield Farming on Yieldly.Finance (YLDY)
I wrote a Step-by-Step Guide to Yield Farming on Yieldly.Finance
A Step-by-Step Guide to Yield Farming on Yieldly (YLDY)
Step-by Step Guide to Yield Farming on Yieldly.Finance
Want to jump the market? Buy ALGO before Monday morning…
Mentions
YLDY on algorand. That project went to absolute shit.
YLDY isn't a scam. Just run by shitty and checked out people.
I am holding on to a the three alts I purchased. But my portfolio is 90%++ BTC/ETH, so altcoin performance is not a big deal for me. I have taken a haircut on ATOM, ALGO, and MATIC. I own a small bit of airdropped crypto from my ATOM (OSMO, JUNO, etc.), but I spent $0 purchasing them. I also own a small amount of YLDY from ALGO staking on the Yieldly platform that is basically worth $0 now. But again, I spent no money on YLDLY. I don't plan on selling ATOM, ALGO, or MATIC. But I also have not been investing additional sums in them. My DCA funds have always been exclusively directed towards BTC and ETH. This rule of mine applies to both bull and bear markets. I only dabble with altcoins with fun money during bull markets. Overall, my portfolio is fine. I have been in the crypto space since 2017, and this crypto winter is no worse than the last one. And the the last crypto winter was no worse than the one before it. Crypto will likely rebound eventually. The macroeconomy will dictate where it goes. BTC will likely do ok. ETH will likely be ok as well though ETH is a bit more risk (with more upside). The best performer will be some altcoin that maybe one out of thousand of us will pick. The other 99% or more of altcoins will get wrecked and probably never recover. The cycle will repeat itself again in some years.
Well as an extension of ALGO, I bought some YLDY and that project has gone to absolute shit.
Wtf do I do with all this YLDY I have?
Lost a couple grand worth of ALGO with the Yiedly LP. YLDY is now a dead token and ALGO is in the sewer
ASA is practically a bad word now. I still check in on the Yieldly sub to see what the poor people who sunk their whole bag into YLDY, sitting on hundreds of thousands of them, are saying. They are still hopeful. Heh.
Tinyman hack started it (IMHO). Closed down easy trading into/out of YLDY (Yieldly). Tinyman made everyone whole, but Yieldly screwed the pooch waiting for the fix. Eventually swapped my YLDY back to ALGO, but the foundation/devs where dumping like crazy. I ended up with triple my ALGOs worth 25% of my original buy in.
This is where I’m at. I bought into ALGO when the sub shilled it but I actually really liked how fast is was and the wallet. YLDY beat me up pretty bad, but governance is cool; I like voting on stuff. But man, even though I *like* it, it’s a tough sell when I think about buying any more. I keep thinking “maybe I’ll throw $100 in” but then I think “what a quick way to piss away $100.” I don’t even care that it’s down, I just wish the price would stabilize.
The terrible virtual machine is why all the projects on Algorand are complete shit. Looking at you YLDY.
I just checked my inbox today to learn that I have been permanently banned from r/algorand lolz But, Yes, I'm glad I got out completely in January of 2022. Funny enough, I made a shit ton of money (like maybe $5k) doing swaps from YLDY to ALGO in Sept-Dec 2021.
CRO, MMF, DEER, Algorand, YLDY, PHNX to name a few off the top of my head.
Dear ALGO, I hope this comment finds you well. You're all but red but I still hope you'll come back. Please bring YLDY with you. I miss her already. Stay safe from the SEC!
I remember dumping YLDY at a heavy loss at 0.015. It's at 0.00008546 right now.
Don't forget ADA, ERGO, YLDY, AMP, NANO which have all lost you a big bag of money as well Save this list up! Because the shills get very loud at the peak, but quietly go into hiding in their closet after shit goes south..
Victim of YLDY here. What a letdown that was
Nice! Yea, I wouldn’t say I’ve crushed it in defi but Ive done ok. Learned how to spot obvious rugs early on so don’t think I’ve lost more than like $20 from that shit. I did convert the $800 or so of HDL airdrops I got into YLDY…so…you can guess how that’s going lol. But yea, when Tinyman launched and it was an AMM/ASA frenzy there was lots of cash to be grabbed if you were smart enough to realize Garbage ASA with no reason to exist probably wasn’t going to pump forever. Watching DOGE and SHIB wised me up to that, fortunately.
YLDY was such a mistake. Head over to /r/yieldly if you ever want to experience pure delusion.
YLDY. It’s down 98% and is basically dead
Ditto here, bud. A somewhat expensive lesson. The ALGO/YLDY one was also brutal.
Toss up between keeping 90% of my crypto on Voyager and swapping all my ALGO for YLDY chasing that APY. On the latter, ALGO plummeted with the rest of the market, but YLDY then traded at an even more terrible ratio. I think I put like $800 into ALGO and managed to get back like $100. Pretty brutal.
1) swapping ALGO for YLDY to chase a great APY. YLDY's ratio to ALGO tanked and I lost a ton of ALGO in the process. I had short of been operating under the rubric of "ALGO is great, therefore everything in the ecosystem is great." That was clearly a mistake. 2) keeping my coins on an exchange. I kept everything on Voyager because a) they were a publicly traded company, so they're "safe" because they're subject to scrutiny that other exchanges aren't and b) I get interest on my crypto just letting it sit there. Well Voyager made dumb decisions and it's bankrupt and 90% of my crypto is in limbo. I'll be lucky to get back 50% of what I had on there based on a valuation pinned to 7/5/2022, which was near the bottom of the market. Now I keep everything on my Ledger. I don't get interest, but I also don't have to worry about an exchange going up in smoke. 2(a) [a sub-point of (2)] - anyone giving you interest on a coin where the coin doesn't have a built in interest generating mechanism (like a lot of the coins on Voyager didn't) means that person/company is doing something inherently risky with your coins to generate that interest. Know/understand the risk.
I just sold my YLDY bag recently. Most likely right at the bottom
How much does YLDY charge for this service? Asking for a friend..
Guys, YLDY sucks balls. That is all. Carry on
YLDY = YLDY + ALGO ttill EOY 2021
Why is YLDY going up so much?
Oh geez, so many. 1) stored 90% of my crypto on Voyager. They're publicly traded, so they're safe, right? Everything is on Ledger now except the shitcoins I got from Coinbase Learn. 2) saw the price for BTT, bought some because BitTorrent has cachet. THEN did the research and realized it was a complete shitcoin. 3) swapped ALGO for YLDY for the great returns. Watched the ratio of YLDYs per ALGO plummet way faster than the great yield (effectively lost 80% of my ALGO) 4) Staked my ETH with Lido. Got stETH in return. Bad memories of YLDY spooked me so I tried to withdraw. "No withdraws natively for at least 6-12 months after the merge." Found Paraswap and got my ETH back with a 2% haircut. I'm sure I'll make more.
Lol YLDY. Ouch. Glad I never put a single ALGO into that
I stay away from there, but I've read the only thing that gives it any value at all anymore is the gazillions that were acquired and all the holders who can't / won't cut their losses. Though I suppose a lot of failed projects are the same situation - I haven't dipped my fingers in as many pies as others have. I never lost that big on it, but I did have high hopes. Just yesterday I realized I had 18 YLDY sitting on TinyMan. I thought about holding on for nostalgia's sake, but decided it wasn't even worth the 0.1 locked Algo to hold onto the asset. Heh.
YLDY. The narrative has really turned negative, and the team (as such) does not seem to be doing anything to help as far as I can see. Personally I can't see a go forward plan. I think they had a chance to make something, but other players in ASA world are pretty quickly leaving them in the dust. Just my opinion . I actually do not even bother to follow it so much anymore. Note: I'm out $40 US so it is not as if I'm not going to eat.
YLDY always hitting new lows. Total shitcoin.
Yieldly, a coin/company built on the algorand blockchain; they had lots of red flags last december, where they mooned to like $0.02 per coin or something like that. I made multiple posts warning people about yieldly in their sub, got killed for being a fudder. Now YLDY is $0.00044. It's true the entire algorand ecosystem and algos itself took a huge hit this past year, but YLDY is on a totally different level even within the algorand ecosystem.
I feel like algo is a staked PnD especially with all its ASA. YLDY, Stake, ALGF. All bullshit. Offering 10-20% staking rewards and by the time you got anything it's been dumped... You got a lot more tokens and had the rug pulled out from under you. And it's so fucking easy. Sure, there were and are good projects on algo. But mostly illegal gambling/games that aren't fully ready yet. The few Good projects are outweighed by the sheer amount of daily rugpulls during the bull market.
Yeah, I am sorry. I was invested in ALGO and YLDY too, so I can feel you. Most ASA prices are 90%+ down since the bull market.
YLDY was a painful, but probably necessary, lesson for me. Believing in ALGO does *not* mean I should believe in YLDY.
Real example, I swapped 20 ALGO@ \~$200 value for 19k YLDY back in February. Yesterday I swapped back 16K YLDY ($168.42 basis) for 44 ALGO @ $0.291 ($12.80 value) realizing a capital loss of $155.62. But I got over 100% more ALGOs back than I started with. Win-win.
Nice to see all the news on moons! Wish I'd stayed active here haha, oh well. Any ALGO supporters still in the daily? My YLDY holdings look like they're in the bin but ALGO still my main man!
Just because YLDY blew it doesn't mean anything about Algorand. That's like saying a bad video game ruins the console it's played on. There is so much good DeFi now on Algorand.
I love ALGO for ALGO's sake, but I got burned pretty bad with YLDY. Taught me a good lesson though: believing in Algo doesn't mean you should believe in Algo-related projects.
Not just logicsig - blanket approval to take any amount of token $T to any address Logicsigs are the way to go as they have full flexibility over what to approve, e.g. ONLY $YLDY and ONLY to address $X, etc. BUT the UX is missing a huge part, which is communicating provably to the user _what_ they are signing Even if you get a third party audit of your logic sig, I think some kind of hash is needed so that users can know that the logic sig they are signing is the audited one and not something else. We'll get there
YLDY im kinda stuck with because i bought in at 2 cents so will just continue to stake it ONE i like the devs, the community, and their ties to gaming which is an industry with a captive audience who will pay whatever you charge
ONE, LRC, and YLDY. Two of them are already down to pennies, LRC is still holding onto what it was pre-GME news pump but i expect it to hit like 17 cents next month
that’s a great list and wish i had something similar previous to 2022. I’m deep in the algorand ecosystem and don’t have too much exposure to BTC/ETH which I should’ve. I have stable coins which I use to DCA but it what it is. Currently in $ALGO, $YLDY, $SMILE, and $OPUL. Portfolio is maybe down 60% from ATH as made so good trades in 2021. Would’ve been worse if wasn’t for those trades. But I just truly enjoy using the chain to swap, stake, etc. It settles in 4s which is the fastest I’ve used in comparison to ETH, SOL, and Terra/Luna. I’m earning about 30-125% APY which roughly is about 40USD a day which I DCA into ALGO but may DCA into BTC now with the current times. I plan to reallocate portfolio to maybe 25% BTC, 25%ETH, 10% USDC, and maybe 40% alts which include ALGO and its projects.
YLDY. When I bought it was around $.018. Pumped all the way to $0.024 I think. Then the market went south, ALGO dumped even more than average, Tinyman got hacked and YLDY went down non stop and failed to deliver, even moving their focus to Polygon. I refused to cut my losses, went to $0.006. Then and only then I pulled out. I think it went down to $0.0025 or something like that. I converted all that money to ALGO and now I let that sit around. I lost quite a bit of money.
YLDY reaping the benefits today
No, they mean Algo, YLDY and Omi.
Sounds like another token I know... YLDY. Yields is down -93% and is less than a year old. All the same problems you mentioned too, more or less. And don't even think about mentioning this on their sub as it is the ultimate echo chamber.
YLDY. Maybe not a scam coin per se, but believed in it because a lot of ALGO folks here were shilling it. Swapped like $500 worth of ALGO for YLDY over the course of my staking and just kept compounding the stake periodically. Problem is 30% APY doesn’t mean much when the ratio goes from 80:1 to 120:1 AND the crypto market bottoms out. I was able to pull out $100, but basically I’ll only buy crypto I believe in (ALGO) and blue chips.
Not bullshit at all. YLDY is down 92% YTD. It's a dead coin. Move on or go back to your echo chamber of delusion. Stop trying to salvage your bags at the expense of naive young investors. And no, I did not lose money. As I've stated many times, I did well with ALGO-YLDY swaps on Tinyman from Oct-Dec. Made out pretty well actually. Feel free to check my post history from then. Now goodbye loser.
I was literally just answering the post. It's kind of sad how the Yiledly shills hunt around for any negative mention of YLDY just to confront it. Now please go back to the echo chamber of delusion that is r/yieldly.
Had such high flamingo hopes. But I used my YLDY losses for tax purposes.
does anybody else have the error that ftx portfolio tracker is showing YLDY at 19,12 EUR?!?! I nearly had an fucking heart attack opening my portfolio today! 
I checked my FTX crypto on my phone and it miraculously had 1 YLDY at $20.64! I knew THAT couldn't be true, so next thing I come here and the situation appears to be the reverse. Even now my FTX tracker still has this ultra inflated value, which will correct soon enough I expect.
What gets me is that the shills are still adamant that it’s a viable project and that I’m just some sort of butt-hurt FUDster. I actually made money on YLDY by doing swaps in and out of Algo. I wont touch it now, of course, as that ship is sinking too fast.
Beware of farm tokens (cake, uniswap, YLDY, ect) in a downtown, they seem to be the first ones that get dropped by people.
guys I have finally made it... opened up my portfolio tracker this morning and what do I see?!?!? YLDY at 18,60 EUR... fuck man, I am rich now!!! called my boss immediatelly, told him that he is a fucking loser and quit my job! hahaha now I only have to cash out and live a happy life! 👍 crypto really works gyus
For me it's probably not declare token/coin dead but it is a huge red flag to me when issues that should have been resolved within couple of hours instead taking over 45 days and still counting. I was bridging YLDY from ALGO to ETH and it was unsuccessful. I did not receive YLDY ERC20. It was a while before they took the bridge down. I checked bridge smart contract tx on ALGO end and found out around 10 ppl got affected. They could have solved this in so many ways and here I am after 45 days+ and they don't even have ETA... ​ This was not the first time I have issues with bridges. Other protocols they took at most 2 days top to solve such issue. Below is YLDY Bridge smart contract you all can go and see for youself FMUL3SNTBUDWPXYK47LXJPZGSIEZEBBVLBLXSUT4TEMMAPBOFP2FBUASBI
YLDY is ranked 3,778 on CoinMarketCap. So I guess that doesn't fit your criteria.
One thing you could start dabbling into would be ASAs, yes there are a lot of scam coins but that’s bc Algorand is that much cheaper to use and operate. Amongst the shit there are promising projects and later this year many of the DEXs (Tinyman - TINY Algofi - BANK Pact - tbd) will have governance tokens out. If you’re bored with Algo price action nearly every ASA is under 100m. OPUL (Opulous) is getting exchange listings, i don’t own any and their CEO is a clown on Twitter but they’re the blue chip for music NFTs on Algorand, 500M supply but it’s far from full circulation Defly is a wallet / chart / soon to be DEX integrated app with its own native token (DEFLY) that will reduce fees and be used for governance I believe? 1B supply $9.3 fully diluted mcap Cosmic Champs is an upcoming play to earn mobile device & desktop friendly game apparently similar to clash of clans? VC backed and created by a doxxed team with game development background. The game isn’t out yet but the governance token COSG is being launched today. 270M token supply, launching at .10 YLDY (Yieldly) is still around and kicking even with most people cool to the project and team, they’re absolutely in a rebuild phase with plans for a launchpad are in the works. They’re partnered with Cosmic Champs to have staking pools for the COSG token. YLDY he price action shows that but the 10B tokens are in full circulation with only a $22.3M market cap. STKE (Algostake) is a product available for other projects to use as a staking platform. The organizer buys STKE tokens and can deposit their reward asset and run the staking pool. Over time the STKE balance is used (I don’t know how that side of it operates) and needs to be replenished by the organizer for the pool to keep working. A cool feature is that it takes snapshots of your holdings over the course of every 24hr but doesn’t transfer ownership into smart contracts. I hold LP tokens and get rewarded in one of the Lp assets, as the end user I don’t need to hold STKE to use the service. There are several STKE/token pools though too 1B token supply $13m fully diluted mcap Of this list I only hold YLDY, but wanting to raise awareness that the Algorand ecosystem is in its infancy. Last year there were no DEXs and by the end of this year there may be 6-8 up and running?
It's been like a month since YLDY no loss loterry ended and there are still more than $5 million ALGO locked up in that contract. Ain't nobody claiming those. I guess we can consider them burned.
1. They spread lies and misinformation in order to justify them making a bunch of new coins (iYLDY and YESP) so they can just keep making bank without actually providing any value to holders of the YLDY token 2. One of their recent smart contracts was exploited 3. The devs dumped a bunch of YLDY because it's a worthless shitcoin now, and the CEO couldn't care less about the community and their early supporters.
I may not get many moons this time around , my YLDY bag is swirling around the drain, but I'm happy with 17 rank in the latest prediction round. Winning!
The decentralized exchange where you can swap for Yieldly went down. During the downtime YLDY announced a new project on the polygon chain. Not well received. Most recently an exploit on one of their staking pools. This was followed by a major glitch on the site and people can't withdraw.
Here are some stats from the past 24 hours of r/CryptoCurrency for you: The **Coin of the day** is: [BTC](https://fomographs.com/coin-details.html?coin=bitcoin) with `934` mentions, `2161` total ups and `4` awards. Runners-up: |Coin|Mentions|Ups|Awards| |:-|-:|-:|-:| |[ETH](https://fomographs.com/coin-details.html?coin=ethereum)|377|826|0| |[ADA](https://fomographs.com/coin-details.html?coin=cardano)|221|428|1| |[SFM](https://fomographs.com/coin-details.html?coin=safemoon-2)|112|920|1| |[XRP](https://fomographs.com/coin-details.html?coin=ripple)|106|329|0| |[XNO](https://fomographs.com/coin-details.html?coin=nano)|101|436|1| **Trending**: [Nano (XNO)](https://fomographs.com/coin-details.html?coin=nano) **Flavour of the week**: [Yieldly (YLDY)](https://fomographs.com/coin-details.html?coin=yieldly) The coin that **climbed** more positions since yesterday is: [Basic attention token (BAT)](https://fomographs.com/coin-details.html?coin=basic-attention-token) with `35` mentions. The coin that **lost** more positions since yesterday is: [Nervos network (CKB)](https://fomographs.com/coin-details.html?coin=nervos-network) with `13` mentions. The top comment was left by: [u/4bidden450](https://fomographs.com/mentioner-details.html?user=4bidden450) with `279` ups and `0` awards. **Source**: [fomographs.com](https://fomographs.com)
Here are some stats from the past 24 hours of r/CryptoCurrency for you: The **Coin of the day** is: [BTC](https://fomographs.com/coin-details.html?coin=bitcoin) with `1030` mentions, `4880` total ups and `8` awards. Runners-up: |Coin|Mentions|Ups|Awards| |:-|-:|-:|-:| |[ETH](https://fomographs.com/coin-details.html?coin=ethereum)|385|1529|4| |[ADA](https://fomographs.com/coin-details.html?coin=cardano)|145|230|0| |[XRP](https://fomographs.com/coin-details.html?coin=ripple)|126|261|1| |[USDT](https://fomographs.com/coin-details.html?coin=tether)|107|581|0| |[ALGO](https://fomographs.com/coin-details.html?coin=algorand)|104|374|1| **Trending**: [Tether (USDT)](https://fomographs.com/coin-details.html?coin=tether) **Flavour of the week**: [Banano (BAN)](https://fomographs.com/coin-details.html?coin=banano) The coin that **climbed** more positions since yesterday is: [Avalanche (AVAX)](https://fomographs.com/coin-details.html?coin=avalanche-2) with `36` mentions. The coin that **lost** more positions since yesterday is: [Yieldly (YLDY)](https://fomographs.com/coin-details.html?coin=yieldly) with `7` mentions. The top comment was left by: [u/HisCromulency](https://fomographs.com/mentioner-details.html?user=HisCromulency) with `787` ups and `0` awards. **Source**: [fomographs.com](https://fomographs.com)
What's a coin you hold that even though you want it to succeed, you know deep down it would never survive a true bear? For me it's YLDY. Damn that was a fun run, please don't take ALGO down with you.
Well for now looks as if YLDY is my biggest fail. Also, i did not sell in September/October, could have made 5k.
Here are some stats from the past 24 hours of r/CryptoCurrency for you: The **Coin of the day** is: [BTC](https://fomographs.com/coin-details.html?coin=bitcoin) with `1113` mentions, `3983` total ups and `6` awards. Runners-up: |Coin|Mentions|Ups|Awards| |:-|-:|-:|-:| |[ETH](https://fomographs.com/coin-details.html?coin=ethereum)|418|1203|3| |[ADA](https://fomographs.com/coin-details.html?coin=cardano)|196|391|2| |[ALGO](https://fomographs.com/coin-details.html?coin=algorand)|146|652|2| |[XRP](https://fomographs.com/coin-details.html?coin=ripple)|120|387|3| |[SOL](https://fomographs.com/coin-details.html?coin=solana)|81|161|0| **Trending**: [Yieldly (YLDY)](https://fomographs.com/coin-details.html?coin=yieldly) **Flavour of the week**: [Banano (BAN)](https://fomographs.com/coin-details.html?coin=banano) The coin that **climbed** more positions since yesterday is: [Yieldly (YLDY)](https://fomographs.com/coin-details.html?coin=yieldly) with `77` mentions. The coin that **lost** more positions since yesterday is: [Immutable x (IMX)](https://fomographs.com/coin-details.html?coin=immutable-x) with `1` mentions. The top comment was left by: [u/irfiisme](https://fomographs.com/mentioner-details.html?user=irfiisme) with `533` ups and `0` awards. **Source**: [fomographs.com](https://fomographs.com)
Yeah I pulled out when I saw major downward trend on community sentiment when they decided to release a new platform with a different coin instead of giving YLDY more utility. Price has just keeps bleeding since that day.
Awww.... My $15 of YLDY is now worth $5. You wanna know why I still believe in YLDY? Because I've never had high expectations for it. It's a novelty token. BUT, they have a working staking/lp app and that has value. Wait 'til the website goes down to call it a rugpull (any minute now....).
Me to people selling off YLDY: 
Goddamn, my $0.17 of YLDY is now $0.12 just overnight.
Reflecting on buying YLDY at 3¢. 
I'm still staking YLDY for ARCC... I consider it lost if it never goes back up at this point.
Yieldly is bombing hard right now. I'm super disappointed with where the Yieldly company are taking the token. After the Polygon fiasco they introduced a pledge to open 20 pools, and all of them turned out to be shitcoins. Now another of their contract has been found to be hacked. People found backdoors as well. Very sus wallet withdrawing millions of YLDY by the second. Now NLL is stopped and TVL went from 65+ mil to below 30 now. We're all holding a shit farmcoin, eh...
I’ve only had experience with staking two coin ecosystems: Algorand and Cosmos. Staking Yieldy made me aware of the costs of claiming and staking rewards. The fact that the rewards looked large (due the price of YLDY) initially made me think I should claim them daily, but looking at the costs made me realize weekly made more sense. ATOM is much more expensive and my holding, while worth several times my ALGO bag, is much smaller in terms of coins. I’ve concluded that I’ll claim rewards when they reach 1 ATOM. Long wait that one 🙄. [As an aside, I’m DCAing ATOMs every few weeks and it seems that the act of moving to/staking them in Keplr also claims any available rewards.]
>but only if YLDY token retained its value Uh, yeah. I can print Zimbabwe crypto to give high APR all day long.
I dunno man. Seemed like a good way to make gains - but only if YLDY token retained its value
What do I do with all this fucking useless YLDY now?
This is one reason I love DeFi and LPs. Awhile ago, I started using the Algorand DeFi ecosystem. I put my ALGO in the Algo/Yieldly LP. Even though the value of both ALGO and YLDY have dropped significantly, the LP token value has stayed approximately the same because I’ve been collecting swap fees
YLDY taught me a painful lesson.
NFT Marketplace also coming soon with YLDY burn mechanism. The daily passive income is also great. I haven't spent a single dime out of pocket for like 6 months. The daily rewards scratches that buying itch.
There's about 1000 ways to earn interest with Algo. The WORST way to do it is staking in the high apy pools on yieldly. The pools that pay you in shitcoin asa tokens aren't worth it even if it's 30,000% APY. Stick with governance or the yieldly pool that pays out Algo/YLDY.
If you use Yieldy there are a lot of liquidity pools offering 100%+ APR in YLDY on various tokens right now. Plenty of staking pools to earn those tokens at 30-60% so you can enter the LPs as well.
ALGO, BTC, ETH, ATOM, & GRT, in that order. And, within the Algorand ecosystem: AKTA, YLDY, CHIPS, & HDL Honorable mention: Moons and BAT
I sold all of mine and decided to keep only YLDY I get as staking rewards. Would much rather hold ALGO 🤔
Bailed on it last month. Pulled out of the YLDY -> YLDY + ALGO staking pool when APY couldn’t keep up with price drops. Traded back to ALGO when tinyman came back. Not sure how I made out TBH but probably lost money on that one. If the developers had given some kind of roadmap as how they were transitioning from TEAL3 to TEAL5 I would have stuck with it, but they were too busy launching on polygon. 😒
Yieldly is a project that didn't make it and is desperately throwing whatever new crap they can at the wall to see what sticks. Algorand was cool when you got high daily staking rewards just for holding it, and could stick on Yieldly for even higher valued rewards. As soon as governance started, the first thing the governors did was vote to remove staking from anybody who wasn't locked up for governance. Most of the coins on the Algorand network are shitcoins. And Yieldly pairs with whoever will say yes to add more pools to stake your 1-cent YLDY shitcoin tokens for 20-60% APY in some other shitcoin token on the Algo network. You get better payouts for better coins from Osmosis, or even some of the pre-existing Eth token pools.