120% APY on Axie Infinity (AXS)??

Hey guys so I’ve been holding onto AXS for a while and saw some crazy numbers when I was looking at the APY for AXS.

Some of the platforms I found while I was doing my research have more than 100% APY?? This has the be some sort of scam right? Who in their right mind would give 100% APY on any legit token? I just can’t comprehend it.

Some of the APY’s I found; Binance Earn: 120% (Although this has a limit on the amount you can stake)

Vauld:40% (no limit)

Huobi:36.5%(no limit)

Nexo: 36% (no limit)

Am I crazy to be cautious?

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17 thoughts on “120% APY on Axie Infinity (AXS)??”

  1. The thing is, AXS could well die out and that APY gets you nothing. The higher the risk the higher the reward, same applies for any crypto

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  2. Nexo is legit. But they may have to stop paying interest in the U.S. soon Sec is after all of the lending platforms and exchanges that have staking. Except for ftx. They donated 5.2 milliont to Bidens campaign. So they’re off limits.

    I’ve heard shady things about vauld. Never heard of huobi

    High rate are usually lp staking or farming.

    Also with lps staking. The lower the liquidity, usually higher the reward..

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  3. Hello Derezal. It looks like you might have found a new scam? If so, please report this scam by crossposting to r/CryptoScams, r/CryptoScamReport, or visiting [scam-alert.io](http://scam-alert.io/). For tips on how to avoid scams, [click here](https://www.reddit.com/r/CryptoCurrency/comments/s7srty/crypto_scams_how_not_to_fall_for_them_what_to_do/).

    *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoCurrency) if you have any questions or concerns.*

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  4. Is this for locked stacking, right? 120 days? Have you seen that cake, for example, can be locked for almost 80% apy on Binance? It all depends on incentives. Some farm pairs pay high apys also. Connect your wallet with biswap, kalmy, pancake… and just check the numbers. Or any other protocol on defillama.

    Remember that you still have the IL risk, so 100% isn’t guaranteed really. I believe it’s not the high apys itself that can define if something is a scam, but you are right to be worried and to research more.

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  5. Yes i´ve seen in too on Binance if you lock it 90 days it will give you 120 % APY , 30 days 75% APY and 60 days ( sold out ) 89 % APY . I´m not sure if they pay out 120 % after that 90 day period since it says APY.

    I wish i could try it out for sure but in the Netherlands Binance is under regulation for who knows how long… It´s a missed change imo.

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  6. You should be cautious, yeah, but not scared. To have a project with high APY means that the coin is very unstable and thus needs a way to promote a rise in its liquidity pool. How do I get that juicy liquidity pool? I create profitable reasons for people to invest in my project. It’s not a new strategy at all. It’s pretty high-risk, high reward, though.

    I recommend going for those kinds of projects if it’s not too late. In my case, I use BSC Coins to find new hidden gems with high APY to swap later on when their values start to crumble. Of course, some research is on my part as well.

    I wouldn’t go for AXS myself, but if you think it’ll be worth it in the long run, do go for it. Good luck!

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  7. Binance is apy. On the axs staking platform is about 77% Apr if I’m not wrong with a daily chance of restaking which is the most profitable so far.

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  8. Simple, universal rule.

    ANY “interest” rate that is higher than the “risk free” rate bears some type type of risk.

    That’s it. To think that you get 30%+++ without risk is insane.

    Reply

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