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29407370 No.29407370 [Reply] [Original]

is egg rugpull bros?

Ive been noticing that the price feature on the bottom of the screen just stops working and sometimes just disappears when the price is tanking..

Furthermore they can manipulate the price drastically but displaying the wrong price and load it up

In short, let us discuss the implications of this actually rugpulling? what does that mean for the binance smart chains credibility (egg is in top 3) or could CZ kun even be apart of this to essentially perma lock 120,000,000 worth on BNB

man i wonder whats to cum

>> No.29407462

if you want to make money in a ponzi you gotta be on the ground floor buddy

>> No.29407483
File: 77 KB, 938x474, egg eror.png [View same] [iqdb] [saucenao] [google]


alot of lower egg tier anons are also reporting problem pulling egg out.

>> No.29407663

How do you rugpull an egg? Wouldnt the egg just roll away?

>> No.29407753


no sir this is new crypto on binacne

>> No.29408762

no it's not a rug pull. they are experimenting with an economic system that even poorfags can make money from.

congestion. it happened to me. there's a lot of network stress from trades.

>> No.29409121

If they were going to do it, they would have already. Shit like SALT and WYNAUT got rekt before they were even a fraction of what EGG is.
The closest thing to a scam possible is dev dumping, but if that's the case then might as well call LINK a rugpull because Sergay betray.
Pancake's app shits the bed too when BSC congestion is high.
You can pull out your stake using the smart contract without even using the website if you have to.

>> No.29409401


how many egg is make it and how many is sui

>> No.29409515

50 sui, 200 make it

>> No.29409943


>> No.29410159

>can make 400bux a week on a 1k investment


>> No.29410383

Not an issue with EGG. BSC is just not built yet for the amount of traffic they're getting so they'll have to upgrade their servers. It gets a bit sluggish at times. Still faster than when ETH has the same issue.

>> No.29410661


i know bro if it sounds too good to be true it most likely is

>> No.29410807
File: 2.93 MB, 1280x720, 1566490472630.webm [View same] [iqdb] [saucenao] [google]

Problem? I've already been doing that. The mechanics of it aren't complicated. That APY will go down as more people join to get their price of the pie. Most farming apps also halve their rates after x number of weeks. It's meant to make those invested earlier in the project have more voting power on the direction of the project, while also leveling the playing ground a little between whales and shrimps. People don't understand it and miss out on money - they'll be surprised to see the rates go down to 60% APY like Pankcakeswap in a few months and wish they got in while the rates were still this high.

I was afraid to get my toes wet but farming with BAO made all of this easy for me. I know what to expect, I know why it's high APY, and I know that this is the best time to get in. Even at BAO's current dip level, I've made profit despite it going below my entry price because I've farmed for an entire month and a half and made like 4x my initial investment by now.

>> No.29411296


hoaw u mean sir

>> No.29411452
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>> No.29411609
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Pic related for proof I was an OG BAO farmer. Thoae locked profits are pure profit -. I already cashed out my initial investment long ago AND some hefty profits. I kept some BAO as well because I still believe in the project long term, but I used those funds to move into CAKE and EGG for even more gains. Even if BAO tanks to 0, I won. If it DOES work out, I've made a lot of fucking money. It's the comfiest hold you can have. That's why fud against farming is so funny. If you know how it works you can't help but laugh at people who only look at the current price fluctuations to try schadenfreude posting. They think they're getting one over on you cause your "investment" failed - they don't realize you've already won regardless. Understanding the mechanics behind farming was revolutionary for me - if you don't believe in the token you don't even need to buy it, just farm it with LP pairings of coins you already hold. Just make sure the platform is audited and timelocked (like goose) so you know your funds are safu. Remember, even when WYNAUT exit scammed, they didn't steal LP - just sold off Meowth to rank the price. Everyone could still withdraw their funds.

>> No.29411618

Wot if it gets rugpulled the second I join

>> No.29411652

do you move your funds around different, new yield farms such as on BSC? some crazy APYs around. VIKING etc.

also do you compound daily?

>> No.29412255
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okay, here's how it works:
>APY is huge because it's proportional to how many people are farming and the base farm rates
>If each block produces 100 shitcoin and only 4 participants are in it, then that means you'll own a large share of that bucket proportionally
>100 shitcoins get distributed among 4 participants based off how much they have staked
>Now a month later, there are 100 participants
>That means your proportional share of the 100 minted shitcoins is less, thus lower APY

This is why new yield farming apps have absurdly high APYs and eventually go down. It's built into the tokenomics. The clings generated are used for governance - so it rewards early investors even if they started with very little capital. It also rewards investors who stay with the project long term, rather than try swinging and making a quick buck. Because the longer you're with the platform, the more shitcoin you're generating The more shitcoin you're generating, the more shitcoin you can stake to compound your gains and keep up with the inherent inflation mechanisms of the coin. These projects want people who CARE about it to have the most voting power, and that's why the tokenomics are designed to be "too good to be true." The success of the platform restsbon the shoulders of its userbase, who hopefully get heavily invested and genuinely want to see the platform grow. SUSHI went from being a scam to reforming into a legitimate DeFi powerhouse just because of how much governance the userbase had with the project. It's really clever and I wish more people read up on it before immediately dismissing it as a scam just because they haven't taken the time to look into the how and why.

From an outsiders perspective, it definitely looks like a ponzi and feels like "dude free money lmao," but the point is more that the platform couldn't exist without you. They wouldn't have the liquidity. So you get paid for your contribution to the platform.

>> No.29412627

No it's gonna pump more https://twitter.com/financegoose/status/1363934181869297665?s=21

>> No.29412780

Just got a few more EGGs, hopefully it will pump soon with the coming Incubator

>> No.29412873

That's why you do research of projects and only get into ones that have a clear goal in mind and willingness to get audited. Stuff like Apeswap is trash because they're literally just making a low effort fork in an attempt to capitalize on the DeFi craze. Their roadmap has nothing innovative, their social media presence is abysmal, they don't take themselves seriously because they just want le funny meme to market for them. Look at Goose Finance's official twitter and tell me that's not the kind of project legitimately striving to overtake Pancake and solidify their position as the top exchange on BSC. Look at their roadmap and how transparent they are with their audit, and how much they're spending on token buybacks to support their early investors, and tell me they don't have a long game in mind. Rugpulls are scary, but don't join things that raise red flags. Test it out with already established legitimate projects so you know what you're getting into and then you can comfortably try out new farms.

I try not to space out so much because if I pick something, it means I trust them for a long term. Like I'm still in BAO even with its lower APY because I believe in the project long term Im not farming atm cause they're moving to L2 and ETH is kill. Moving funds around *can* get you s lot of profit but you're kinda gambling and defeating the purpose of this kind of token distribution. I briefly looked at Viking - I don't think they're a bad project but I don't see what they're doing differently than Goose. Kinds feels like they're just a "you missed goose? we gotcha, senpai" kind of project. Forked from Goose and trying to compete against it. It worked for SUSHI so who knows, still too early to tell. But ideally you should want to stick with a project you actually believe in rather than chasing moons. If you got into SUSHI last year around November and continued farming until now, you'd probably have made way more safe gains than rugpull roulette.

>> No.29412895

Not a rugpull but the price will struggle to break 200
people can produce eggs too quickly and will continue dumping

>> No.29413218

Egg burning mechanics coming soon to give the project more deflationary pressure. But you're right, it will struggle a bit until those come out. But short term price fluctuations are moot if you believe in the long term profitability. Price goes up, price goes down, but at the end of the day you're still farming daily so by the time it DOES break $200 you have a lot more eggs than if you tried playing PRO TRADER taking the top and bottom of the market price. It's comfy because of that; you're making money even if the price swings wildly or even just crabs.

>> No.29413384

Why exactly would the price of this token go up when APYs will go down as per >>29412255
The demand will only go down with it.

>> No.29413400

so you recc farming EGG even atm? I have around 40k invested, staking nicely with 400usd a day but im considering putting 20k into a farm instead.

im scared of IL, especially with this volatility in the market rnow. il prob wait for a slight price hike back above 100

>> No.29413476

anons, I knew about impermanent loss but I didn't think it would be this brutal. I put ~$350 yesterday into the egg/busd pool and when I wanted to take it out (less than 24 hours later, about ~$12 drop in eggs) it's giving me $234. Is this normal or did my retard brain do something wrong?

>> No.29413484


>> No.29413603

farming is retarded, how do people bother with it when IL exists I dont know

>> No.29413662


>> No.29413683


what are the suicide stacks?

what are the make it stakcs?

>> No.29413830

I don't buy things that aren't listed on pancake swap for a reason.

>> No.29414034

If the price ratio of EGG:BUSD changes in ANY WAY, meaning even if one token goes UP in price, you lose money. The rewards are supposed to buffer those losses.

>> No.29414058


>> No.29414116

Because the platform has use for those tokens. You use the tokens for governance, the lottery system, the L2 farming they have coming down the line, the new token pairings, etc. Those tokens have value so long as the exchange keeps providing value. If you have enough of them, you have voting power to participate in governance and hp decide the future of the project. Sushiswap purchased https://sushi.com purely out of community vote. None of the sushi devs did that, it was all community effort to get that move and it was brilliant as fuck. These projects are great because it makes sure that the brightest ideas can shine even if they're from the little guys.

IL usually hurts short term. Long term it evens out. How many eggs have you made within that same time period? Keep on kind that wildly fluctuating prices will affect your IL, but you can expect the project to become more stable over time. Most of these projects have more stagnant days than up/down days, so if you're farming on every stagnant day then it should end up with more profits than your IL. It only hurts if you're taking out after like a week. My BAO IL ratio looked like it hurt, but the longer you farm the less significant it becomes.

I'd recommend it. I'll be transparent and say I think CAKE is more stable atm because they've already established themselves and have some very cool gamification features coming to their platform soon. If you're afraid of IL, you may wanna test out with more stable pairings just to get a feel for it. Not at my PC right now but I know CAKE has stablecoin pairings which are pretty much impossible to suffer huge IL on.

>> No.29414367

Price predictions? How high could this possibly go? T. 220 eggyfresh

>> No.29414370

based, thanks for the advice anons.
do you personally harvest the profit, compound it or split it between the two options?

>> No.29414502

This is rather disingenuous. You don't "lose" money the way you're thinking. Your funds get washed to retain their 1:1 ratio to one another. So you still GAIN money if the price moons - you're just gaining less than if you just held. Similarly, if the price TANKS you lose less money than if you just held. You can think of it as a self - hedge of your assets.

>Shitcoin is with $1
>You stake shitcoin with BUSD
>You out in 10 shitcoin and 10 BUSD
>Shitcoin becomes $8
>Your LP ratio adjusts so that you now have 40 shitcoin but 20 USDT
>"FUCK, I LOST $20!!!"

see where the error in logic is here? You still GAINED money overall in net earnings. Also added to that, you've been farming along the way, so those should.more than make up for the IL. At the end of the day you don't LOSE money from IL when the price moves your funds just adjust to maintain parity with one another. If the price moons, you still make money. If it tanks you still lose money. Simple as.

>> No.29415384

good answers miner fren keep it up

>> No.29415407

If layered farming works well and the project really takes off, $500 minimum.

>> No.29415428
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Here's an illustration to explain. Taken from https://APY.vision which is great for tracking your LPs. It defaults to the "pool gains" tab which shows big scary negative number, but switching it to the Net Gains tab shows how much your LP is actually worth relative to your starting price.

>> No.29415438
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Uhh no. https://blog.bancor.network/beginners-guide-to-getting-rekt-by-impermanent-loss-7c9510cb2f22

>> No.29415661
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>tfw 20 egglet
I was so close bros....

>> No.29415694
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I do a little of both. Profit take here and there to buff up my other investments in my portfolio, compound the rest. It depends entirely on your investment strategy a but I prefer shaving off profits now and then AND keeping some coin. Similar to how I handled BAO, since I'm still holding some but already cashed out a portion to secure gains. Also this infograph shows IL risks. You ideally want two coins that follow each other relatively well. Not always possible, but BNB and EGG are closely correlated, thus the APY for that pool is less since the risks are less.

>> No.29415859
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>> No.29416088
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Uh, I just showed you an example
>>29415428 that's from one of my actual farms, dude. I "lost" $34 compared to if I just held ETH on its own but actually gained overall if you compare to what I initially put in. You're still making money if the price goes up - just a bit less than if you held the coin on its own. Your image and link aren't contradicting what I'm saying, I even gave you a real world example to back up my ass pulled one.

Your image is actually illustrating exactly what I'm saying. Take a look at how much money he started out with and now much he ended up with. Notice how $1048.81 is a higher number than $1000?

>> No.29416148
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Goose is unruggable and protected by the gander skein

>> No.29416756
File: 54 KB, 1280x720, show-azusa-the-money.jpg [View same] [iqdb] [saucenao] [google]

Also just mentioning, the reason why this stuff seems "too good to be true" is exactly because of IL. These platforms NEED you to provide liquidity for then to work. But WHO THE FUCK would take on the risk of IL for free? So in order to give you motivation to do so, they provide a hefty reward in exchange for providing liquidity. That's your paycheck - you get paid for giving the platform a critical piece it needs to work. IL isn't scary when you understand how it all works in context with the entire ecosystem but too many people tunnel vision on a negative number without actually calculating the overall net gains. This is rally smart economics at work but it's not complicated when you just take the time to piece it together.

I try not to price predict because it has too much focus on short term. Projects like this are long term and will definitely have high and low periods. I didn't get shaken out when it dipped from $150 to $60, nd I expect it to remain at these levels until the new pool comes out to potentially give it a boost. $200 by next month isn't out of the question but it depends if they're able to meet their targets on the layered farming idea they have on the roadmap.

>> No.29417181

I wish it went lower, need to fill my bags

>> No.29417305

>Because the platform has use for those tokens
None of these things are actually available right now.

This is not called impermanent loss afaik (but they call it like that there so what do i know). This is an actual permanent loss you make as LP due to market differences (you get paid less for your token than it's worth). Part of the fee is to make up for this. If the pair goes back to it's original price after you WILL withdraw less than what you put in.
You can absolutely lose money in LP pools especially when the pair is volatile and volume is low (not enough fees). Providing LP to shitcoins is therefore not always a good deal.

>> No.29417985

hey eggbros, farming noob here. im making a few egg per day farming but is there a way to get my busd and egg back by unstaking from the lp? or is it there forever and i just reap the farming rewards as payment? thx

>> No.29418582

no you can remove it when you please
go to exchange - liquidity - remove liquidity

>> No.29418610

Anyone else considering nesting egg in viking instead of goose? its 4x the apr

could always sell the viking reward for egg/bnb

>> No.29418668

Impermenant Loss is just an unrealized permeant loss. They're the same effectively. Yes, you can lose money if the lair goes down, see my infographic here >>29415694 but if the price goes up you will gain money, inherently. Just potentially less than if you just held the shitcoin on its own and it went up.

Like I said, it's just hedging your two assets together. Your gains will still give you gains and your losses will still give you losses, but both are relative to the secondary asset and thus if one end remains stagnant while the other moons you will earn less. But you will still earn. If one falls while the other remains stable, you will lose less, but you will still lose. They balance each other out. That picture I sent
>>29415428 is really the amount I got back from withdrawing that pool. Off by a few decimals cause price updates but younger the point. I made $588, because ETH mooned while mUSD remained stable. But I would have made $34 more if I just held ETH alone. At the end of the day, I still made money.

>> No.29419068

>You can pull out your stake using the smart contract without even using the website if you have to.

This really REALLY needs to be said a lot more, I'm in VikingSwap (another goose clone) and it really set my mind at ease that I can remove my staked money without the site via interaction.

For anyone interested how it's written in the goose help/docs section

>> No.29419106

You still lose more on a price drop, before farming yield.
It's deceptive because there's multiple things going on.
If you want to invest $100 on a $1 token and you do it using a farm pair, your actual investment is only $50. If the price doubles, you make $50 and if it halves you lose $25 by default. Factoring in the loss, you make less than this and and lose more, so let's say it's actually more like $45 gain vs $30 loss. The yield needs to be at least 5% over the period of doubling to be better than simply buying and holding $50 worth. Thing is though, if you wanted to invest $100 in the first place, instead of a pair you could have $100 of pure token. If that doubles you're at $200 and if it halves you're at $50.

So the options on your $100 are either:
go in half for +50/-25 and maximize by buying the dip
go in full for +100/-50 and riding it to the end
farm for +45/-30 + yield
Farming is the worst option unless you're prepared to keep that shit in until your yield is enough to double your stack at post-moon price. $100 split into a farm with $1coin-stable pair needs to pay out $100 of yield by itself if the price goes to $2, not $50 (your actual buy in) to break even with staking. Furthermore, if you're in profit you can just bounce at any time and at worst cry yourself to sleep on your money pile if it moons further, but if you're negative after a 50% dump and crab-21 activation, fishing for that 100% return so you can exit without loss once the APY starts flattening might lock you in for a while.

There's other ways to maximize like buying dips with yield instead of straight compounding, but DYOR. Remember that brainlets have been locked out of finance eternally because this stuff is unironically too hard for sub-115 IQs to understand. Knowing how it works IS the barrier to entry, which the 'hur dur free money must be a scam' argument always ignores. People are paid 6 figures to figure these tricks out for millionaires in 'normal' investments.

>> No.29419164

It is by default a rug pull PnD
Wanna know why ?
It has no use. It literally has no use. It does nothing.
The only thing it does, is farm more of itself while you hope other people don't dump on you but you dump on them.
Any shitcoin that has literally no use can't be anything but a PnD

>> No.29419511

I have EGG but making way more via Ramenswap. The price is pretty stable, didn't even dip today and the APY is better than Goose.

>> No.29419589

Well that's most of crypto fucked then

>> No.29420215

it gets like that whenever the network is congested. I remember anons here freaking out when it had its first major correction from $150ish down to $100 in the span of an hour unable to unstake or withdraw.

>> No.29420621
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based anon
thanks for all the info

>> No.29421376
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I just paid for my wedding In two days, with Goosedefi > Vikingswap > IceCreamSwap the last one is risky as fuck, many people got rekt when they bought the now 160$ token at 400$.

I have ADHD so this is obviously very bad for me. I'm out, thanks for the shitcoins !

My 2c, as an economist : Stake in shitcoin/BUSD pools, otherwise you get compounded risk which is very difficult to deal with and not rewarded enough.

>> No.29421707

where will you go next? i thought i'd be at 10k now, but im behind.

>> No.29421921

Im currently staking my EGGs on vikingswap for the higher returns, then selling that for more EGG (its almost 1:1). They are brand new so if they rugrull would I still be able to pull my EGGs out or am I screwed?

>> No.29422183

based and eggpilled

>> No.29423323

>7d 152.83k%

the fuck