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That, and a lot of the pools will absolutely burn you with impermanent loss — plus more of a depreciating vanity token that the site included in the yield perce
by randomhodler84 5y ago
That, and a lot of the pools will absolutely burn you with impermanent loss — plus more of a depreciating vanity token that the site included in the yield percentage. It’s a good racket — while some new shittoken is popular, get people to add your exit liquidity by pledging stablecoins and gas tokens to liquidity pools, borrow those pool claim tokens from the suckers (pay them “yield”), raid their liquidity, dump your shittokens, print more shittokens, “pay” the suckers with second set of shittokens, give them back their claim tokens (which are now mostly a claim on the first lot of shittokens), sucker goes to claim their winnings (their original capital) and is left with a big bag of worthless shittokens. And you have their ether, bnb, matic, stablecoins. 100% APY tho
- vmception 5y agofacts, and thats just the consensual transactions its actually kind of crazy about the ones that yank all of the liquidity and disappear, when they make enough from just the “normal” ponzi operation there are a couple that are sustainable models
- randomhodler84 5y agoEarning Trade fees on stables seems the most legit, and doesn’t require another token as a reward. I’m not convinced staking rewards as a service can work over a longer tail, what ever happened to masternodes as a service lol… Still a lot of capital going there now. It’s interesting to see what happens when incentives end on the platforms that don’t just run away with customer funds. 98% of the capital is in place today because of incentives. These all must end eventually.