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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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24941116 No.24941116 [Reply] [Original]

Why doesn't everyone just put his whole net worth into FARM and stake it?

>> No.24942021

I put like $5k into farm and the liquidity farming pools. It’s a comfy feel.

>> No.24942107

>>24942021
I mean even if you're very risk-averse you can just put it all into a stable coin and farm and get a higher return than you would get with any other traditional finance investment with zero effort. What is the catch?

>> No.24942179

>>24942107

its not risk free nigger, farm usdc vault got arbitrage attacked a few months ago and lost all users inside a 13%, its comfy if it goes well, if it doesnt you are fucked

>> No.24942220

>>24941116
I've been on this for a month, I bought at 135 and thanks to the profitshare I'm still up 3k at the current price.

Profitshare pool is a legit money printer. You get 30% of the profits that the 500M TVL makes, and it's making a *lot* of profits right now

>> No.24942313

>>24942179
Statistically they're now the least likely to get attacked again. They've also tripped down on safety and have a 50k bug bounty scheme in place

>> No.24942360

Because it's a scam and op is a shill. Have fun when they get "hacked" once again in a few more months.

>> No.24942373

>>24942179
I realize that it's not risk-free. I'm just arguing that to get these kinds of returns in traditional finance, you'd have to take on significant risk. Much higher risk than I'd assume you have by exposing yourself to the risk of smart contract bugs etc.

>> No.24942403

>>24942360
Nigger about 10 projects got hit by the arb attack. FARM is one of the few who've actually bounced back and commenced a rectification scheme.

You can wait till they fully recover but that'll be 3x from here lmao

>> No.24942635

>>24942403
I think putting most of my net worth into FARM and staking it would feel very comfy. Lower risk than shitcoin gambling and higher return than most other farming strategies.

>> No.24943447
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24943447

>> No.24943483

>>24941116
Because I put my whole net worth into XRP

>> No.24943513 [DELETED] 
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24943513

>>24943483
>he invested in the current corrupt federal reserve
Idiot

>> No.24943541 [DELETED] 
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24943541

>>24943483
>he invested in the current corrupt federal reserve
Idiot

>> No.24943551

>>24941116
You lose percentage of the coin that raised the most in value.

>> No.24943580 [DELETED] 
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24943580

>>24943483
>he invested in the current corrupt federal reserve
Idiot

>> No.24943593
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24943593

>>24943551
What kind of pajeet math is this?

>> No.24943617
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24943617

>>24943483
>he invested in the current corrupt federal reserve
Idiot

>> No.24943685

>>24942635
Yeah, it's great. I got most of my stablecoin stack here and about $20k in the profitshare pool. Comfortably earning $250 USD a day passively, no gas fees, nothing. Comfy way to wait for a correction on btc

>> No.24943757

>>24943685
That would be $90k per year. You sure about that?

>> No.24943774

>>24943757
I have a lot of DAI :p

>> No.24943786

>>24943593
https://academy.binance.com/en/articles/what-are-liquidity-pools-in-defi

>> No.24943864

>>24943685
What's so good about FARM compared to others?
I see way more people using uni and sushi for swapping.

>> No.24943896

>>24943757
You should check out this guy lol
https://zapper.fi/dashboard?address=0x5921c191fe58175b1fb8943ed3f17345e615ff02

>> No.24943905

>>24941116
kek because then how would we get any BOND

>> No.24943972
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24943972

>>24943864
It's not a swap dapp. It's basically a hedge fund with a P/E ratio of about 3.

Last time they were earning this much profit they were at $150+. Easy buy and stake till that happens

>> No.24944018

>>24943972
So they do trades and invest in liquidity pools with your coins for you?
Is that it?

>> No.24944137

>>24943972
>It's not a swap dapp. It's basically a hedge fund with a P/E ratio of about 3.
What's the catch? How can a hedge fund with a PE ratio of 3 even exist? Is it just incredibly undervalued because people haven't realized the potential of DeFi?

>> No.24944651

>>24944137
Devs are anon and they were victims of an arb attack 2 months ago, that's pretty much it.

Objectively they're a better hold that YFI. They have more TVL and earn more profits with 1/10th of the market cap

>> No.24944714

>>24944651
I suppose the devs being anonymous and the meme website keeps the normies out and that's why it's so undervalued.

>> No.24945022

>>24943896
What is the catch, how do they make money?
Is it by investing your coins in yet other yield farms?

>> No.24945078

>>24941116
Yams are dangerous. The FARM might be the big collect. Not sure.

>> No.24945483

>>24945022
Look at
>>24943972

They're a yield aggregator. Instead of farming directly on a farm, you deposit with harvest and they will deploy your assets to whatever the most profitable Strat of the day happens to be (currently CRV, Keep, COMP, Idle, etc).

They automatically compound your stack, save you on gas fees and give you free FARMs for staking with them. In exchange they have a 30% take on the underlying profits which they then distribute among FARM stakers in the profitshare pool.

So as long as there is the TVL and the profits are good, profit share APY will be constantly high.

>> No.24945546

>>24945483
More than 200% APY for staking FARM seems very unsustainable though.

>> No.24945686

>>24945546
Join the discord and check out the harvest channels. It shows you exactly how much each buyback from the profitshare affords. It's been a sustainable 200% for over a month at this point.

They are making 80M/year on 500M. Profitshare is 30% of that + some baseline weekly emissions

>> No.24945822

>>24945686
Seems like I should look at buying into FARM again. I was initially put off by the memes. If it continues collecting that much yield, FARM is bound to either moon or continue having insane APY.

>> No.24946350

>>24941116
Bump. Unironically FARM is a good hold

>> No.24946625

>>24941116
Jeet scam

>> No.24947252

>>24944018
They don't trade. They just stake your deposit in X strategy, autocompound it for you and take 30% of your yield to distribute the farm pool.

They're careful to not spray more farm to depositors than the 30% take so all else being equal, the buy backs will keep farm price stable and slowly increase over time given emissions fall by 5% per week

It's actually really good tokenomics

>> No.24947371

>>24947252
Okay fine, I've bought a bag. Swear to god this better not fucking dump

>> No.24947399

I've been looking for something like this to chuck a good amount of my savings into, I know stablecoins get a lot of interest and that was my plan until I realised that since most stablecoins are pegged to the US dollar, they're going to suffer from the loss of value that'll happen when the US dollar inflates to shit like it is currently doing.
I might chuck in a few thousand dollars or so, If this is really is as low risk as it seems to be

>> No.24947472

>>24947399
They have btc pools too, if you prefer to get interest on that. It's less than stables but it's better than a "high interest" bank account or term deposit.

There's also an Eth-Wbtc pool at 15% if you're bullish on eth. The farm token itself benefits from all strategies as long as they're profitable

>> No.24947516

>>24947472
What boggles my mind is that a consistent APY of 200% means you're gonna 3x your portfolio after one year and then 9x the initial sum after 2 years. Isn't staking FARM the best strategy for someone chasing 10x? Sure, a lot can happen during 2 years, but investments with 10x potential always carry a very high risk.

>> No.24947524

>>24947472
Sounds good, thanks for the info anon

>> No.24947697

>>24941116
Already elbow deep in FARM friend

>> No.24947866

Anon you can just buy every month some btc, eth, whatever and look at your balance flying.

>> No.24947883
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24947883

14000 % apy here.
https://www.xbase.finance/geyser/

>> No.24947904

>>24941116
Because FARM are amateurs and we’re exploited. Fuds not safu.

>> No.24948987

>>24947904
Learn to spell shitskin

>> No.24949149

>>24947516
Well long term risk are:
1. DeFi is no longer a thing and yield farming goes the way of ICOs. This means no profitable strategies, and the fundamentals of the project is no longer viable.

2. Emissions run out in 4 years. Without incentives, depositors may no longer see the benefit in staking with FARM and go elsewhere. The project may need to come up with some other value add to retain depositors.

3. Competitors. Obviously DeFi is a very new niche of a niche of a niche industry. There are a lot of projects. It's very possible someone else will improve upon FARM's model and take all the TVL. No TVL, no profits, no profitshare.

All that said, with the current TVL, the current profits, FARM is extremely undervalued. They outperform YFI by a significant margin and only has 1/14th of their Market Cap.

>> No.24949229

>>24947883
Scam

>> No.24949270

https://decrypt.co/47732/defi-hacks-costing-10-million-a-month-report

>> No.24949286

>>24949149
Would any of these situations cause me to lose money if I had money in Farm? Or would it just mean that the APY would go down and my returns wouldn't be as good?

>> No.24949292

>>24949270
See
>>24942313

>> No.24949310

>>24949286
If you're only a depositor, none of that would affect you -- just your APY would go down.

>> No.24950002

>>24941116
Love me some FARM. We're back to 600M TVL thanks to this giga-chad dropping a cool 80M into the wbtc pool

https://zapper.fi/dashboard?address=0x5921c191fe58175b1fb8943ed3f17345e615ff02

>> No.24950100

>>24949310
That's very good, I'll definitely be putting some money into this

>> No.24950516
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24950516

>>24941116
Eyy a Farm thread! Haven't seen one of these in a while.

Been in it for about a month in the USDN and profitshare pool, making $180-250/day consistently. Fuckin love this project. Completely underrated.

Here's a thot for visibility bait :)

>> No.24950861

>>24950002
Yea he's a known whale. One of our largest depositors I think. Pretty loyal too, been with us since pre-hack