I look at most of these high APY farming strategies and cant help but notice most of what is given just gets ripped by price depreciation. I am just holding a few solid coins as of right now, but would like to get back farming. I guess most of these pools that exist should only be entered on day one as a vast majority of dapp work is ponzi work? I like what DefiKingdoms has going on, and spooky swap/ spirit swap, but where does the value actually come from? Trade fees? Why would anyone trade it other than to make quick profit and leave? I’m just ranting and rambling. It’s always too good to be true it seems, things like wonderland and tomb and certain yearn strategies or beefy vaults have given me some harsh lessons. Some learn in much more costly ways so for that I’m grateful, but think about what you are actually doing when you trade your crypto. There are ways, just be careful.
TL;DR : it’s all a scam and there is no utility
farm tokens are meant to be dumped asap. that’s why autocompounders like beefy serve a purpose. i don’t even want to accumulate curve. i want to dump them asap for either more lp or eth, btc or a stable asap.
Calling it a scam just means you don’t fully understand defi. It would be a scam if you couldn’t trade the tokens that you got as a reward, but you can. So if you’re losing money/not getting what you thought you would that’s on you.
Attributing most of the adverse market conditions as a cause for various negative occurrences is a common practice. For instance, Bitcoin’s significant decline, as well as the substantial fall of several other assets, are frequently ascribed to this phenomenon. The resultant effects of such market volatility are the expected project failures and a significant deceleration in development. Therefore, it is crucial to adhere to well-established and reputable teams with a credible history in the Defi space for a more reliable outcome.
On Arbitrum there is a new farm launching today in two hours, https://choco.care/. They successfully raised their presale hardcap of 200 ETH. It is a debase token so holders are strongly encouraged to stake their tokens as a single or LP so they don’t lose value. If you saw $EGGS it is a fork with some updates to the code. You can read more in their docs or join their discord. Usually farning tokens quickly lose value from it being farmed out so this a spin with the rebase and debase tokens encouraging vaults. It hasn’t launched yet so could get in early.
The solidly protocol tokens give voting rights to control emissions giving the holder bribes and trading fees. Velodromes VELO is the most successful at this point. But you do have to lock your tokens in a nft
Oxymoron. Farming tokens, by their nature, have no utility. They are meant to be sold ASAP.
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