/biz/ - Business & Finance

>>22195098
>tfw missed $12 kimchi out of greed and missed $10 kimchi by sleeping
>tfw somehow still sold at a slight gain at $4
>tfw lost $3k on sushi today
I hope $SURF makes me rich

>>22195098
Get while the getting is good. This won’t last forever. When the bubble pops you’ll be able to do whatever you want with your newfound riches.

>>22195098
Doing the same thing anon, i’m getting more like 5-15K per day though. Its mostly the stress that deteriorates me. I’m constantly moving shit around reading contracts praying not to get rugged

>>22195137
>>22195098
do you need a programming and security auditing background or can any pleb just look up eth exploits and read solidity?

>>22195098
Did u check $RAINBOW? is it safe

>Things that didn't happen for $500

>>22195132
I'm doing it since end of June (leveraged comp farming, first bat, then usdt, then dai, that was stressful as I was borrowing on eth)
I started coding a bot to deleverage for me but before I finished comp farming stopped making sense lol
started with $320k (eth + stablecoins)
now $1.25M (eth + yfi + stablecoins) and that's at the current prices
>>22195169
you almost certainly need it there are many subtle ways to lose your money, you have to understand the contract logic from the evm level.
like the locking issue with safeMath in updateReward modifier in the copypasted synthetix contract. If owner and rewardDistribution isn't set to 0 or timelock, the owner can lock all staked funds forever. Subtle bug.

>>22195169
You don’t need it, it obviously would help though. All I took was a java class and CSS/html in school and can understand what most contracts do. I can identify obvious scam contracts but I couldn’t write one without control c. My advice for you is just to do it and don’t depending on anonymous posters on /biz/

>>22195183
Anybody who actually knows what they are doing won’t tell you this shit for free man. Why would I let you take my alpha for nothing in return? You are prime scambait

>>22195262
>You don’t need it
uh huh
https://etherscan.io/address/0x6f644562ca3a64cb09c1fa677a7aa41f5ad49f63#code
explain to me then, how can the owner lock withdrawals? because he can
I already told you where it is, so it's easy

>>22195183
you mean https://magicliquidity.com/ ? shit liquidity, not worth my time
will look when it's over $1M on uniswap

>>22195343
tell me more pls im interested

>>22195098
im so over it fuck all this im just gonna keep most of my chad holds in TRB AKRO and NEC

Would be happy to trade alpha for man capital and other resources. milf_hijacker#5253

YFI is safe, though... right? Sounds like you’re jumping between governance tokens, not vaults? Or are you actually lending your coins?

>>22195219

>unction withdraw(uint256 amount) public updateReward(msg.sender) checkStart {
require(amount > 0, "Cannot withdraw 0");
super.withdraw(amount);
emit Withdrawn(msg.sender, amount);

you mean this one?

>>22195603
no, that just prevents calling the transfer function for a withdrawal of 0 tokens
what can the owner and/or rewardDistribution do that no one else can?
>>22195590
Yes yfi is safe, but it can't be yield farmed anymore, it was a short event.
>Or are you actually lending your coins?
currently I'm farming three food tokens with uniswap pairs

>>22195343
I’m phone posting and I don’t claim to be an expert by any means. You can self learn a lot of things to varying degrees obviously a academic or practiced background helps. That contract had a bug with the reward logic and the excessive mint made it impossible for quorum to be reached, locking all the ycurve. Thats why sushi has an emergency withdrawl that bypasses all withdrawl logic

>>22195646

so all the recent scamtoken use a open source code and modify it, or sometimes not but then the owner usualy ragpull.
where do i get the original code to comapre? do u have a recent scam so i check em out?

it seemed like a jackopt lottery on biz

>>22195098
>every new ponzi requires a manual contract audit
why? it's a ponzi, you're going to stay in the coin for like a day tops

>>22195740
Why? Because when your depositing 6-7 figures in this shit the devs might just rug pull instantly if they can.

>>22195687
you are talking about yam that's a completely separate bug, and it didn't lock staked tokens
>>22195735
>do u have a recent scam so i check em out?
https://etherscan.io/address/0x450f143f1a8650fff968d890814bd5884bdc8f1d#code
this one is easy
the scam wasn't executed possibly because the issue was noticed early
>>22195740
I'm farming them and dumping on brainlets, not buying them

>>22195740
that was even for me obvious.

but still there must be the original code where the copie came from, right?

>>22195807
What's farming? I'm so fucking out of the loop.

Awww you poor whittle millionaire :(

>>22195821

It's the new mining. If you have an existing stack that's applicable to a project's pool(s), you can farm their respective token to be then sold at a later time. This only works if you're early, or you have a huge fucking stack of whatever coin so that way an insane daily amount.

hotdog contract

https://etherscan.io/address/0xc9e5e923df73caa96e6cba4cb9a16574610ccd06#code

>>22195821
you lock up a bunch of your eth, altcoin or stablecoin or a combination of them in a smart contract; then the farming project mints a bunch of tokens and distributes them based on who locks up the most.

>>22195818
>but still there must be the original code where the copie came from, right?
there are two main sources, one is synthetix mint contract that was first used by yfi, the other one is sushi reward contract
synthetix
https://etherscan.io/address/0xFBaEdde70732540cE2B11A8AC58Eb2dC0D69dE10#code
sushi
https://etherscan.io/address/0xc2edad668740f1aa35e4d8f227fb8e17dca888cd#code

>>22195821
as >>22195876 wrote, it's just like mining expect you mine (farm) with tokens rather than gpus.
Definitely more environmentally friendly heh

>>22195872
>>22195876
>>22195918
sounds like it has an insane default risk considering the frequency with which these projects are blatant scams
How does a textured reading of the contract affect the riskiness of the lending? Isn't there a crazy risk to lending them your coins in the first place?

>>22195999
"Risk" is a wrong word. If you are capable of reviewing the contracts there's no risk. This is the most tiring part.

it's all pretty much a cookie clicker game with real money
>Isn't there a crazy risk to lending them your coins in the first place?
Most farms have no lending, you just lock tokens in a smart contract. There's compound and cream that have lending, you get comp/cream for lending and borrowing. Cream is a clone of compound so the code is at least good, but they are adding barely liquid collateral so I'm staying away. Doesn't make sense given current riskfree returns elsehwere

>>22195999
Here's one way to scam for instance, there's uniswap liquidity pools right, like 50% eth / 50% sushi.
you stake that and you get a token saying you staked it and then you provide it to the project. then they mint you more sushi cause you're providing liquidity.
well that's guaranteed liquidity to dump into for whales that's what people mean by the rugpull.
they're not all scams but it's the same ICO game with a different name.

look up yearn/YFI. they automate the whole liquidity farming thing.... nobody really knows the systemic risks yet. might be none at all or we just haven't seen the blowup.

>>22196097
yeah I stay away from pairs with farmed token. Asuka collapsed to ~0 in literally 10 minutes based on a false rumor. If you were away for just one hour you went back to find liquidity gone and maybe 20% of value left. The risk isn't worth the reward. Better to compound 'low' returns of 0.5%-8% (recently) daily rather than chase ephemeral 30%/day with a risk of ruin

>>22196184
Are you holding your sushi for the fees? The numbers are unbelievable even if sushiswap gets half of the daily volume of Uniswap. I think they need to do the expedited launch to keep the hype going

>>22196238
No I don't, I find sushiswap flipping uniswap extremely unlikely.
If it succeeds, what's stopping the next clone from flipping sushiswap in a month or two?

>>22196260
The only thing that matters at this point is attention and user saturation which at this point Uniswap and Sushiswap are the clear frontrunners. There are 10000 Bitcoin forks since the start of BTC, bitcoin just won because it had the most saturation due to first mover advantage. If Uniswap doesn’t compete with their fee model Sushi will definitely take marketshare. Volume is going to follow liquidity, always has. Do the math on the rewards for sushi holders, might change your mind. I think .25% + equity rewards will beat Uniswap unless they can compete, you can’t really win on technicals when everything is open source and can get yoinked

>>22196091
how long are these contracts? and, if you can conclusively categorize these ponzis into safe/unsafe, why exit them at all? does the yield drop off?

>>22196097
desu I don't even know how uniswap liquidity pools work. I bought a few thousand LINK in 2017 and haven't been on /biz/ since.

>>22195098
you can stop you know. i was riding ponzis but it feels like its cooling off and theres not going to be much more gains in it

go all in on link/eth, borrow against that for yyCRV, put that on cream, borrow usdc and go into some other high APY vault. then rest

>>22196375
Sushiswap is worse than uniswap, because uniswap takes no cut while sushiswap takes 1/6 of the fee and distributes it to token holders.
Token holders are a partially disjoint set from liquidity providers
>>22196394
theoretically I can but I remember accumulating $100k for years, but I made more than that in a day two days ago. How can I ignore that kind of free money?
Also it's addicting like a cookie clicker, click click number go up and with every iteration number go up faster

>>22196435
>free money
i hear you but it only works until the ones getting burned run out of money. im just pointing out that its cooling off and not the worst time to exit with huge profits

>>22196435
Not entirely true. Sushiswap LPs will get more raw % if the token keeps its value up because they will be earning 100 sushi per block after launch. 0.25%+x/100 tokens per block is going to be > .3%. And that prevents Uniswap from ever activating the VC backdoor. Also its clear that almost all eaely liquidity providers to sushi will hold some equity considering sushi has 75% of Uniswaps liquidity

>>22195098
Pretty based OP. Do it for a month and then enjoy yourself. How much capital did you start with?

>>22195098
Currently doing similar with ~1M and its eating away at me.

h-how do I get started ;______;
what do you guys look for in the contracts

>>22196387
>does the yield drop off?
yes the price usually drops out fast.
Gas prices act as a filter, I'm above $1M so I can dump even every hour, but some guy $100k can't, as gas fees would eat a lot of his profits. As a result I realize much higher roi.
Without high fees yield farming wouldn't explode like it did.
>>22196478
Even sushiswap still gives out ~2% daily it's not over until is. I thought it's over after BAL and COMP but I was completely wrong. I remember when APR of 60% was considered extremely high.
>>22196497
>0.25%+x/100 tokens per block is going to be > .3%
It's 0.3% of volume on uniswap and 0.25% of volume on sushiswap, which very well can vary by orders of magnitude, which may outweigh value of tokens. Depends on speculators buying sushi high enough.
>Also its clear that almost all eaely liquidity providers to sushi will hold some equity considering sushi has 75% of Uniswaps liquidity
I don't plan to migrate, will assess the situation after the migration event. Lots of liquidity only exists because of high apr in the first place and is going to disappear completely once rewards drop 10x
>>22196519
see >>22195219

>>22195219
At least you are doing it properly
There are Thousands of pajeets going yolo in exotic vegetable scams

epic larp op here have a pic to jack it to

Is kimchi dead?

>>22196600
wish you the best anon. hope you can stack another mil before its over. im too tired to keep playing

tfw smart anons are getting my salary in realtime and I'm just a chucklefuck watching
guess I'm a dumbass

Why have I looked away from crypto for so long bros?

>>22196709
yeah it's on its last legs
>>22196740
maybe you're the normal one, I question my sanity every time I send almost everything I have to some food token farming contract

>>22195098
OP you sound very based. Plz do the needful and share which farms are relatively safe

>>22195646
>three food tokens with uniswap pairs
which 3

>>22196787
do you think ham.money will be worth farming?

when will the yield farm defi craze be over and we can go back to boomer armchair speculation on tokens with cool names

>>22196787
you know the risks a lot more than I do.
As long as you can handle the potential losses then I think it's a lot smarter than emulating me, afking at a job

>>22196821
I'm leaning on no, the market is tired of worthless food tokens. Sushi reinvigorated the space by creating something new, I expect something like that to happen. There's already a fork of curve.fi called swerve, that's probably the direction it's going to go. Then a new wave of ponzi clones

>>22195219
how did you learn to audit these contracts? I have a programming background and thinking of starting the cryptozombies course but are there other better ways or resources to learn solidity?

>>22196947
no other way to learn but to try. Coding background is a must otherwise you're going to only get a surface level understanding and a false sense of security
>>22196803
sushi alone has very high apr already
https://sushi.zippo.io/

>>22196802
sushi is definitely safe, there's a timelock and a lot of eyes on it

So buying the farming tokens is stupid even with a high apy because everyone dumps the tokens anyway. Best is something like a link/eth or eth/usdt pair right?

>>22197142
When does it become not safe? When do you expect people to start dumping their sushi?

What is the least amount of capital you need to have to make decent profit?

I'm a noob to yield farming.

So to understand:

1. Audit code (E.g Sushiswap's masterchef contract)

2. Code is good, connect wallet and start clicking around the farms and making monies staking/unstaking.

3. Get the monies. In your case you play with huge capital such that even a seemingly modest percentage will get you thousands a day. But if you did step 1 correctly, there shouldn't be rug pulling.

That or you get in early with a smaller sum?


Am I understanding the workflow somewhat correctly?

>>22196600
You clearly have not done your research on the sushiswap reward model. Its 0.25% on volume 0.05% to equity holders and additional equity is generated each block and awarded to liquidity providers. The total return to LPs on sushiswap will beat returns on Uniswap.

>wah i’m making ungodly money sitting at my pc doing nothing

i actually just want you to kill yourself
i want you to buy a gun with that cash and fucking rope your head. fuck you stupid nigger

>>22197154
choose your own pair based on apr and what you think is a safe token to hold
>>22197163
>When does it become not safe?
theoretically the owner could try to steal funds through a 48h timelock, then everyone would yell at everyone to withdraw, on twitter and here.
I don't expect that to happen
>When do you expect people to start dumping their sushi?
I don't know I just dump, as I don't think it has lasting value. There's definitely some supply locked by high gas fees, so if/once fees drop these people are going to dump, but that doesn't necessarily mean price is going to go down.

If I tried to speculate on farmed tokens on top of farming them I would go insane.
The only farmed token I didn't sell and still hold is yfi now that's a true unicorn. I buy it with about half of what I farm
>>22197215
With the current gas fees? Probably $100k is the bare minimum, you could sell tokens once a day. Best to stay in sushi currently, as other farms are too shortlived.
I spent over $6k on gas in total, most of that recently.
>>22197224
yeah pretty much.
One additional step I have to do recently is to look what percentage of the pool I'm going to be. Once I deposited into a nice 4 digit apy farm and dumped it to low 3 digits, or withdrew and apy shot above 100k apr.
>>22197323
it leeches value from current liquidity providers and gives them to token holders.
The only other source of value is from speculators, which may indeed last a while, but not indefinitely

how to pick which coin you are going to farm?

and which one are you farming now

>>22197405
It doesn’t leech value. It gives LPs equity and gives equity holders returns. I guarantee that even after the 10x decrease in equity LP’s will be earning more than 0.3%

>>22197423
The one that you expect both tokens to hold their value somewhat. If you don't hold something you can always borrow it, but that's an additional thing to manage. I definitely wouldn't pool with ampl for example.
>>22197451
>It doesn’t leech value.
>It gives LPs equity and gives equity holders returns.
Those returns come from then-current lps. It's pure rent extraction, token adds no actual value.
If sushi flips uniswap it's going to be flipped itself once speculators stop providing enough money to offset that extraction

>>22197540
I disagree fully. I am a relatively large LP and prefer the sushiswap model 100%. I should be rewarded for providing equity early and taking on the risk. With Uniswap they are going to activate the VC backdoor and hedgefund money is going to come in and destroy your APR. atleast if that happened with sushiswap i’d still own my equity share.

>>22197578
>I should be rewarded for providing equity early and taking on the risk.
You can only take value from later lps and they don't care about you and are going to go to the place with the highest roi.
If sushi flips uniswap it proves dexes have no network effects, which also means sushiswap has no network effects, which means sushi is worthless. If it flips uniswap it's going to pump on pure hype but larger funds are going to realize the inherent contradiction too and try to dump on retail. Risky game, not interested. I'm going to take my compounded returns now thanks.

>>22197540
why wouldnt you pool with ample?
Also do you know if ample's rebase/debase happens when ample is in the LP?

>>22195098
Second post best post OP.
See the piles of salt you've created by trying to vent a bit. They are the same ones who call for an admin to ban you in your favorite game when you're on a good streak.

Really, this is worth it for a bit longer. You can do it. You are doing it. I believe you will have a pleasant life living a the edge of the water somewhere someday very soon. Just one bit of advice - stay off the beaches. I don't like sand. It's coarse and rough and irritating and it gets everywhere. Wouldn't want that life for you.

>>22195098
Thoughts? It was shilled by Boxmining if that matters.....

https://etherscan.io/address/0xd7b7d3c0bda57723fb54ab95fd8f9ea033af37f2

https://medium.com/@al_92198/pylon-finance-25-or-more-apy-even-in-a-bear-market-33df5214f6e4

>>22197741
Holy based
If only /biz/ knew what was coming

>>22197658
I don’t understand why you continue to ignore the 0.05% VC backdoor on uniswap. Uniswap will be treading water even without activating it. 1.3B has moved over to sushi because it has a better incentives model for LPs. Later LPs will pick sushiswap over Uniswap if the equity coin has enough value to make providing liquidity >0.3%. Market effects exist in everything and Uniswap/Sushi have the largest. Late investors to apple still buy apple because it has a good dividend regardless if earlier investors receive more of that dividend. I don’t care what you do but don’t be surprised when sushiswap actually does end up with 50%+ of Uniswaps liquidity and volume. The money is being shifted from the VCs to the community. Middlemen don’t last long in crypto

whats the next 10x

>>22195137
what do you stake anon?

bump

>>22197658
>If sushi flips uniswap it proves dexes have no network effects
are you sure this is how it works chief? I'm barely following but it sounds like sushiswap has a superior business model though uniswap has first mover
>If Facebook flips Myspace it proves social media has no network effects, which also means Facebook has no network effects, which means Facebook is worthless
you're seeing an inherent contradiction where there needn't be one

>>22195098
how long did it take you to learn to read solidity and other yield farming tactics, where did you learn from
I feel so stupid cause I don't know where to start

>>22197799
I’m currently just farming Sushi dollar pools. Best risk adjusted yields after the dump today

>>22197741
Yeah I'm just venting, probably the only place where it's possible. I can't even tell any of my friends, they can maybe save $100k over ten years if they are frugal, there's no common ground possible
thanks
>>22197745
lmao
You bought some food tokens did you?
>>22197780
As long as it's not triggered it doesn't matter. The moment it's triggered someone will make a clone without it and people are going to switch. Simple as
>1.3B has moved over to sushi because it has a better incentives model for LPs
there's literally no reason not to farm sushi if you are a lp already. You can talk about $x moving to sushi when it actually migrates and stays.
>Market effects exist in everything and Uniswap/Sushi have the largest
here you ignore my point that if sushiswap flips uniswap, it proves those network effects are extremely weak.
>apple
is very hard to compete with, they have a walled garden, very strong brand, patents etc it's not even in the same universe as an interoperable smart contract on ethereum.
>Middlemen don’t last long in crypto
token holders are the middlemen in sushiswap
>>22197824
myspace vs facebook is a different discussion, from what I remember facebook took over a niche first (university students) where myspace was completely nonexistent. Not a comparable situation.

>>22197973
Nah I am farming it atm.... It's nott a food one either although it may be just as shit, who knows. Creators are trying to loop defi in with ETH POW mining and claim to be the largest ETH mining farm in the US. Can u look at it if ya dont mind, it's probably shit but.... I have no clue

>>22197973
If the equity earned puts the reward to LPs > 0.3% its going to attract more liquidity than Uniswap, period. if you run the numbers the rewards on sushiswap will absolutely outpace the 0.3% on Uniswap. It will be extremely hard to flip sushiswap when you cannot refine the reward system any further. The only room for increased rewards is eliminating the 9% subsidy for protocol development.

>>22195098
>I'm paid $20k-$100k/day

Wot

>>22195098
mine / buy bits of Safex. wait for 2021.

>>22197973
sushi/uniswap are like two protocols you guys are arguing over, through which you become liquidity providers in tokens that you do research on the contracts of
am I correct in that assessment?

>>22196835
3 mo.

>>22195646
Are you going to stake in yVaults when you're done with food?

>>22195795
>Because when your depositing 6-7 figures in this shit the devs might just rug pull instantly if they can.
Sounds like a bad idea to deposit that much then

>>22198099
Ok I understood that you're shilling it indirectly initially, have fun farming.

The vault part is yet another of yfi but with higher fees somehow, I don't see them being able to attract much capital.
>building mining farms that return anywhere from 25–50% APY in a bear market, and upwards of 160% in a bull.
There's no shortage of capital at all today. If they were really getting 25-50% in a bear market sustainably they would have investors banging on their doors.
At best that apy has an asterisk to it, at worst it's a straight lie.
>The farms will mine Ethereum, banking on the elevated gas fees and mining rewards as of late
ethereum, the one that after years of delays is finally starting to release PoS in phases? Hmm. I wonder why they aren't getting external capital.

Why are they even allowing pylon to be farmed for free if they actually needed capital? Connect all these dots and it's yet another ponzi with a slightly new rationalization.
>>22198164
>It will be extremely hard to flip sushiswap when you cannot refine the reward system any further
not true
wait a year, offer people the exact same deal. Everyone switches again, sushi token holders rage.
Even if you are a lp and a sushi holder, you still win: you get fees from those that stay, but you don't have to pay these fees yourself, as you're on a new clone
>>22198329
Maybe it depends on what's their return. There's some complicated fuckery going on with CRV boosting and votes, so it's possible the vault becomes the highest apr option at some point.

How to into yield farming? Looks like you need some decent capital to start. I assume you won't do well with something like $100 or $1000 to start off with right?

>>22197741
fuck off back to pleddit star wars zoomer

>>22198358
You do realize nobody is going to switch if somebody offers that exact same deal right? 100 equity tokens of the established protocol will be worth more than 1000 of the new protocol. You are not thinking this through. Uniswap got unseated because it offered NO equity and had a VC backdoor.

>>22196600
>Even sushiswap still gives out ~2% daily it's not over until is.
My impermanent losses were more than that.

>>22198448
You are not realizing sushi holders and liquidity providers are separate entities. Sushi even has constant inflation which means the inflation rate is trending to zero percent, which means as the protocol gets older new distributions are worth less and less.
The creator of sushi didn't think it through that well, a protocol that locks rewards and offers them only if people stay for a while after the migration would be much more likely to flip uniswap.
>>22198500
What, that yfi pump? At least they were impermanent in that case

>>22198358
Yeah that sounds about right, thanks! How much capital did u start with to make those kind of gains? Do you have some kind of God-bot you made to figure out this shit bc holy fuck it's SO EASY to get wrecked

>>22198561
>How much capital did u start with to make those kind of gains?
see >>22195219
>Do you have some kind of God-bot you made to figure out this shit bc holy fuck it's SO EASY to get wrecked
no bot can automate checking contracts for traps

>>22197405
>Probably $100k is the bare minimum
What if you just dump once a day instead of constantly... Not much going to gas.

>>22198627
that works on sushi but food tokens of the day tend to be very short lived

>>22197405
>The only farmed token I didn't sell and still hold is yfi now that's a true unicorn. I buy it with about half of what I farm
I have about $30k sitting on the side waiting for a further dump. Should I buy YFI? Similarly to Cronje, I don't see why it should increase in value.

>>22198594
ah i missed that post, I see. Alright last question how the fk does this whole DEFI scam not end in a permanent self propelling death spiral downward? When in ur opinion does the music stop and the exits jammed first by whales, then with suckers who cant afford the gas fees to even get out LOL

>>22197659
High volatility

>>22195098
I’ll sell you a copy of my algo trading program for 20k. Does all the TA and pushes decisions to coinbase / robinhood on it’s own. Has its own viewer and custom strategies also.

>>22198696
>Alright last question how the fk does this whole DEFI scam not end in a permanent self propelling death spiral downward
I don't really see a spiral, of course current returns aren't sustainable, compound 'even' 0.5%/day and you get 6.17x yearly. The situation is just going to return to the previous normal, defi is fine in itself, yield farming is a ponzi on top of defi.
Apr on the level of ~50% may last months potentially, given bull market - slowly farming tokens like comp.
>When in ur opinion does the music stop
when people that buy these tokens run out of money
>>22198769
fuck off

Gay larp thread. Some fucking kiddo made 1000 bucks flipping shitcoins and brags about the big fish.

>>22198547
The only thing I farmed was KIMCHI-SUSHI and when I withdrew from the LP at the end, both of the values were way below what I deposited. Only did it for a day with a couple grand. Not sure how much I even made since the price of both dropped.

>>22195098
Wait for surf defi. Hasn’t launched yet. First Stable APR yielder.
discord wQ9s5R

>>22198978
You picked the worst possible pair, you got dumps from both farms at once.
Farm with unrelated pairs.

>>22198867
Cope, You can see 6-7 figure adds on uniswap.info. Multiple whales are getting rich off this.

>>22199024
Thanks for the tip. My only other question is >>22198690

>>22198346
I only play with 1/4 of my net worth (about 100k) but follow OPs advice. Ive made about 12k on sushi so far

>>22199056
well all I can say is that buy yfi with part of what I farm, I think it belongs in top 10. Is bitcoin cash really worth more than the yearn ecosystem?

>>22199083
btcash is a currency with (supposed) utility.
what is the utility of governance tokens? Yearn could operate perfectly without them. If they start using gov tokens to charge fees someone can just make a free yearn copy.

>>22199173
but they already charge fees
https://feel-the-yearn.app/
all these are charged 0.5% on withdrawals.
>can just make a free yearn copy.
It's not that simple, this is inherently semi-custodial fund management, it needs trust.

>>22195098
>>22195137
Can I get a QRD on what you guys are doing? I've been out of crypto for 2 years and this shit didn't exist back then. Thanks.

>>22199213
the trust is in the code surely, not in the token holders

>>22199234
People create vault strategies that move the funds.
There are timelocks and multisigs which is why I described it as semi-custodial. A protocol nobody looks at is much more dangerous

>>22198414
bump for this, anyone know?

>>22195098
Fucking hell this shit looks so fucking stressful and risky. Great returns if you know what you're doing but jesus christ mate you need to decide when to stop, you keep chasing money and you'll never be satisfied.

When do you stop OP? Whats your end goal/future plan?

Where do I read Contract source code?

>>22199260
so what kind of decisions are made by holders? Which tokens to lend and borrow to make the biggest APR? Couldn't you write a code using an APR oracle to automate this?
That's what I think will happen eventually anyway, and then governance will be useless.

>>22197378

eat shit you poor, dumb faggot

>>22199262
This is a really easy thing to figure out for yourself but with gas prices 20$+ its not really worth it to farm yield with an amount <10K.

>>22195098
Op can i please have money to buy my gf an engagement ring

Working construction trying to save fucking sucks

>>22199457
This. And if you’re yield farming with a pair that includes the farmed token then its still super fucking risky if you happen to still be farming after the whales dump. I barely escaped kimchi with profit with like $5k, lost $3k on sushi from this dump and I dont anticipate it going any higher.

What i dont get is why not just add the liquidity directly to a pair on uniswap. Why go through sushi. Where are these returns coming from.

>>22199513
Because in the case of sushi, most of the trade volume goes through sushiswap, not uniswap. Additionally, you’re rewarded far more returns in the form of farmed sushi than the LP returns from uniswap alone. It’s a self-fulfilling prophecy that relies on a constant inflow of new money to sushi however.

How do I get in on this? What do I need to look up? Is there a name for whatever this is?

>>22199582
by the time you've researched it, it'll already have been over

>>22196821
...So whatever you guys are doing is all done through this Uniswap thing huh

What constitutes a "good" contract? I code but I'm not sure what context is "good" for crypto.

Haven't touched crypto in 2 years and now I don't understand a single word in this thread. Can I get a quick rundown on wtf is happening exactly?

>>22199633
>>22199778
look at this absolute desperate noob lmao

you will get scammed soon.

How does SushiSwap and these other Uniswap clones make money? They are probably the guys making the real money in this right?

>>22197930
Solidity looks nearly the same as every other major programming language.

So just learn to read C# or something it's a top 5 most popular language and looks almost just like Solidity

>>22199815
>>22199582
Google crypto yield farming

Thanks to this thread I started reading contracts for fun and learning new things like checking out owner address being a time lock contract. What other pitfalls should I watch out for man

>>22200150
With Sushi clones, YUNO added a function that lets the owner mint more tokens to the devaddr, check that it doesn't exist. Some idiots who copied it left it in. The Chef (staking) contract only calls the token's mint function from within updatePool() in Sushi. I wouldn't recommend farming the farmed token pairs anyways.

If they've removed Migrator it's fine without a timelock, but if they've left it there you need to be absolutely sure the timelock contract is set as the owner and it matches the Sushi version. Obviously check if they've added anything else that's new. Some have introduced halvings and other reward-related logic.

>>22195098
Rarely do I see anons with some thought capability of how to profit in this DeFI bubble, but I got one question. Why are you sharing with this? Aren't you worried for adding competition and reducing your gains?
Also, don't you wish AAVE would implement uniswap v2 market? I feel like it's a goldmine opportunity for them which they aren't realising.

>>22200824
>Why are you sharing with this?
There's already $1.4B farming sushi, this thread can't impact much. The value already mostly oscillates with crypto prices. There aren't that many people who have both enough money and technical ability to do all this left.
>Also, don't you wish AAVE would implement uniswap v2 market? I feel like it's a goldmine opportunity for them which they aren't realising.
explain
right now the biggest uniswap competitor is loopring, they are going to launch a uniswap clone in a zkrollup (1k+ TPS)

>>22200824
because it's a larp lmao, he will eventually ask a question like `what's the best coin now OP` from another IP and shill his Indian poo in the loo token

>>22200887
I don't think so, he seems to know this stuff. I've made similar amounts from farming recently.

>>22200923
Do you think it's over? Past 24-48 hours seemed to turn a corner that feels 2017-y imo

>>22200150
try to solve >>22195343

So you guys are those hackers you see in movies. Good for you. I don't understand half of what is writtten here. Going back to my job now, thanks for reading.

>>22200948
I think the Sushi clones are pretty much done, not farming overall though. I see some potential in changing them up a bit but so far they've almost all been really lazy copies, tempted to make something myself. I'm just waiting for the next iteration to come.

>>22201191
Agree.
I'm now farming sushi with everything except for eth-stablecoins, everything else appears to be dying. Going to put everything into sushi overnight.
Today I lost almost half of potential overnight income by making a bet that a smaller food token is going to hold its price enough for its roi to outweigh sushi, but it dumped so much I lost that bet

>>22195098
Cool thread. I hope you make trillions bro.

Reading this thread, its clear why biz is always wrong. You people are absolute shit at spotting larps. Just awful.

>>22195807
> withdraw from master chief
> emergency withdraw
did you mean that?

>>22195821
yeah, me too.

>>22201213
>springroll?

>>22200883
AAVE has a uniswap market, where you can deposit your univ1 tokens and borrow against it. Low liquidity though

>>22202222
checked

I got rich in 2017 bubble and don't understand all these fancy new words thrown around here.
Can someone explain in easy terms like they might to a little child where the money is coming from and who the sucker in this game is?

E.g. with ICOs of 2017: Stupid money went into worthless ICO tokens and devs and early investors got valuable BTC.
How does this work with Yield farming and liquidity mining and the defi lending?
Liquidity mining: Miners token might devalue beyond any reward they getting from the trading activity that is taking place.

Yield farming: Farmed tokens might be useless/worthless unless dumped quickly. What are these new farmed tokens even good for? Do they have some features?

Defi lending: People lend BTC against collateral and high interest because collateral might drop below loan value and the hold a bag of feces?

>>22203000
>who the sucker in this game is?
people buying worthless tokens, that part didn't change
>What are these new farmed tokens even good for? Do they have some features?
Some have value, especially yfi - you get both governance rights and right to income generated by the platform. Sushi plans to flip uniswap and redirect 1/6 of fees from liquidity providers to token holders, so if you believe it's going to succeed, it has some value.
Comp in theory could someday generate income from compound, rest is just trash, especially meaningless food tokens.

It's not so much a copy of the ico bubble as a copy of the altcoin mining bubble of late 2013-early 2014