Yield Farming with Crypto?
Anyone know exactly what this is? Does anyone have a primer? Where is the money coming from to offer these amazing yields 9%+?
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Looks like a giant house of cards if you ask me..
Lol ngmi. Btw OP 9% is nothing. The safest yield you can get is 19% with UST anchor protocol on Terra. Risk-free, but I’m sure some of the people here who usually cope about crypto will cry. Too easy to make money these days.
I love tradfi boomers saying crypto looks like a ponzi when they have no concept of what we are actually doing or the different ecosystems. Simply announcing their ignorance to the masses. Have fun staying poor with your 7% annual returns when inflation is at 25%. I'll keep farming and printing computer coins.
wagmi
It’s definitely not risk free as there is still protocol and smart contract risk. The UST peg unraveled back in May and a period of sustained bear market volatility it’s at risk of doing so again.
That said, if you’re yield farming it’s a good place to be but calling it risk free is definitely not correct.
Risk-free 19%. Ignorance is bliss
Looks like you were correct!
The yield comes from new people investing / staking in the platform. You’re the yield. You just have to hope someone else comes after you
That’s why there’s an Anonymous Analyst 1 in IB constantly pumping up these DeFi things.
Obviously he’ll pretend like he’s making tons of money because he needs to draw people in to keep the gravy train going.
It honestly almost worked on me, I was otw to invest in Snowbank and then I saw it tank 90% in a matter of days. THANK GOD I didn’t listen LMAOOO🤣
Why do you think I’m pretending? You realize the yield on the anchor protocol and for most these farms goes DOWN with more participants right? There’s no “pumping” dumbass. You seem really pressed. I only come on here to try and help that’s why I gave FTM, TIME, and many others early on.
As for SB, I’ve already said that someone front ran the MEV and their private dex (likely someone higher up at AVAX) when they were doing the buyback. Has nothing to do with the fundamentals of the project. It’s the risk that all DeFi has. It’s like having your brokerage account hacked and blaming it on Apple because that was the only stock you held. I’ve been posting about crypto here for over a year now. Even if someone just had held a blue chip like ETH they would be up big by now. You sound pretty emotional and have a pretty shit attitude so I don’t think crypto would be for you anyway.
I used to honestly be like you and try to think I’m smarter than everything else or that anything I don’t understand is automatically scam. World doesn’t work that way and you don’t have be the smartest in the room to win big. Life is positioning. Say what you would like. I can genuinely say I’m a happy person and love my life. Many on this forum can’t. If just one person can win it big and escape the cube that means the world to me.
Ser, don't waste time on normies. They will be eating bugs in the near future and their entire identity will vanish once their tradfi job is displaced by code. The game is just getting started. Cheers to all the lads playing both sides and converting their paychecks into computer coins
You have been posting on here about Crypto for a year? Would be great if you didnt post anonymous so we could see proof.
Same with the whales averaging down on Snowbank. I would love to see evidence of that. But whenever someone asks you for evidence you just say "ngmi LMAO"
Thanks but please explain where the yield is coming from lol
I wouldn't waste your time responding to people like this. At this point, there is enough information out there that people can do their own research and choose to learn and understand how DeFi works, or choose to be ignorant. You have made some great calls on here, and some that haven't worked out, but that's the nature of emerging asset classes. As for me, I will continue to focus on stable coins with 80% of my holdings in BTC/ETH, while using the other 20% to higher beta projects. FWIW, I jumped on staking $TIME just before you had posted about it, and have made pretty incredible returns so far. Glad to see someone else on this forum is an autist...
SB has come storming back 50%...nice whiff on a buying opportunity my friend
Shhh keep yield farming away from everyone pleasd
yea its turned my full time job into a part time job lol
No that’s impossible you’re clearly a paid bot or scammer. It’s all a house of cards!! Anyway back to my wage cube haha
Where's Drumpfy when we need him to cope and seethe about MUH PONZI SCHEME?
Yes bro put all your capital into shaky assets with absolutely zero fundamentals and can go to zero overnight for 9% CAGR (on par or less than US total)!!!
I think it is interesting, but the return you’re getting is because the entire thing could go to zero. I don’t think that’s likely, but you have a functional claim to nothing. In Canada, we have depositors insurance up to 100K per account, so there is a different kind of downside protection, alongside a litany of regulatory bodies.
Don’t get me wrong, I love DeFi and think the world is headed that way, but in this present state you’re getting that yield because of risk. It’s not the same as putting money in your savings account.
This is partially true - but you are getting rewarded for also protecting the network / verifying transactions in the case of staking I think.
For stable coins I thought the return was on lending? I mean either way it isn’t free money, but I’m going to dig more into that. Thanks!
I, like OP, am still waiting for a breakdown on what it is
-If you're farming, the yield is coming from transaction fees (the users swapping coins have to pay the liquidity providers of that pool, ex: Eth-USDC)
-If you're staking, the yield is coming from protocol fees (think revenue to the platform/protocol, i.e. upfront fees, borrowing fees, liquidation fees, etc., you are rewarded this for locking up assets within the protocol)
There are obviously also plenty of tokens built on ponzinomics and that's why it's your job to do you own DD for each project. They all provide "Docs" where you can find the necessary information.
Additionally here are a couple helpful links...
https://defillama.com/
https://defipulse.com/blog/zero-to-defi-cdai/ (old but fundamental)
https://decrypt.co/resources/what-is-yield-farming-beginners-guide (also old but relevant)
https://thedefiant.io/all-the-ways-to-generate-passive-income-with-defi/
Won't let me post the link, so check out Taiki Maeda on youtube. One of the best channels for yield farming knowledge
literally free money
wow on track to beat the SP500 return in two days?
You must be a paid bot or scammer. That's the only way!!!!!
Pretty decent overview in this video without much prior crypto knowledge needed.
Well this aged nicely
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