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/biz/ - Business & Finance

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30251577 No.30251577 [Reply] [Original]

>get 35%+ apy on USDT
>retards in /smg/ still buying stocks for a 2.3% dividend on shit that will probably go down

why do they do it

>> No.30251637

>>30251577
DeFi yields will change the entire financial industry
Retards are missing out on some of the highest yield lowest risk ways to make money.

Give it 5 years until you go to your financial advisor and they recommend depositing USD into DeFi

>> No.30251720

>>30251637
its like a bank account that pays my rent its fucking insane. i know rates will be lower soon but if i just add more money to it itll still keep paying a decent amount

>> No.30252111

>get 35%+ apy on USDT
where?

>> No.30252138
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30252138

No guys why would you want to store your usd into btc get 100x returns and on top of that 30% yield? You can go buy real estate and get a return on your investment after 10 years! Just make sure to maintain the property, deal with tenants who don't legally have to pay you, and pay your property taxes!

>> No.30252177

>>30251577
35% where? on Waves?

>> No.30252176

>>30251637
>>30251720
what platforms do you guys use?

>> No.30252279

>>30251577
>>30251637
Finally a fucking DeFi thread.

Can someone redpill me on cool use cases? ALCX is cool and ALPHA with 3x leverage is neat but I don't understand all these loan services. Why would you want a loan at 50% of principal instead of going all in on alts?

>> No.30252505

>>30252279
because you buy alts then take a loan to buy more alts, or just borrow usd and earn a yield
>>30252177
35% is fud
if you aren't earning 100% you are doing something wrong

>> No.30252652

>>30252505
>if you aren't earning 100% you are doing something wrong
I'm earning 100% on CAKE, but that isn't USDT/C or DAI, so if CAKE goes down like it has today the effective rate drops significantly. if CAKE crashes to 0 100% becomes -100%. the highest yield I found on stable coins was 35% on USDT in a Waves pool

>> No.30252775

>>30252652
you are farming on binance smart chain and can't find higher yield than 35%?
i wouldnt be putting my coins on that shit for less than 100%
pretty sure goosedefi can offer you a couple hundred percent at least

>> No.30252843

>>30252775
how can they give you 100+ apy? i thought that was only a good idea if you got in coins early

>> No.30252973

>>30252843
well don't buy the farmed coin, just farm it with your stablecoins and sell off the farmed coins
if the APR drops too low then move on to the next
People are buying the tokens so they can use it to farm more tokens. Basically they buy the bag from you to gamble that they can make more than they put in.

>> No.30253028

>>30252775
Where do all the smart DeFi people hang out? It sure isn't /biz/.

I've heard tales of crazy farming/leverage structures.

>> No.30253069

>>30252652
dude you can get 300% on CAKE on https://beefy.finance/
Also grab some BIFI while you at it, It's prob the best yield aggregator on BSC and it's never mentioned on biz

>> No.30253104

>>30253028
discords, telegrams. The smart people do hang out here. They just don't share their alpha until they are ready to dump on you.
The more that are farming yield, the worse the yields.

>> No.30253188

>>30253104
I feel you. I'm hitting 30% a day right now.

>> No.30253494

>>30252973
what website is this? ive only seen sites where you can farm some coin thats already pumped 3000% and falling again

>> No.30253864

>>30252973
Just take note though, you run the risk of getting rugged if you get in really early in these BSC farms. You are usually pretty safe after they've established, but one called Meerket rugged last night after being up for a couple of hours and it had a pretty sizeable amount of money staked it

>> No.30253937

>>30253494
He wasn't referring to any website in particular. He was just referring to staking stable coins in any of the yield farms clones

>> No.30253962

>>30253937
how do i start looking into this? ive only seen pancakeswap and a couple of those. is mirror finance good?

>> No.30254057

Nobody knows bro. They're probably just stubborn boomers. Let them have it. To each its own I guess.

>> No.30254134

>>30254057
i tried telling people but they called it a ponzi. a lot of crypto is a scam i dont blame them but its worth looking into

>> No.30254286

>>30252775
35% on stable coins yes. though what I had in mind is staking. farming I stay away from due to IL. are there literal stable-stable liquidity pairs that yield higher than simple staking?
>>30253069
yes I'm on Beefy, but it quotes the APY while CAKE quotes the APR. so the yield is the same, though Beefy auto-compounds which is nice. plus they recently launched SALT boost which is a nice little bonus.

>> No.30254329

>>30253962
Telegram groups are your best bet for catching them early.

BSC scan lists some here but they can sometimes take a while to appear here.
https://bscscan.com/yieldfarms

Don't just dive in though, it's all pretty sketchy, you need to do a fair bit of research and really invest time into making sure you don't get cucked. Make sure you are over impermant loss too if you choose to use liquidity pools.

Re Mirror Farm; honestly I don't think any of these farms are 'good'. They are all pyramid/ponzi schemes built on offloading farmed coins onto the next smuck. There's a couple that are actually focusing on being relevant and sustainable long term tokens (i.e $ALPACA is building a leverage yield farm and they locked 70% of farming rewards away for a month), but they are few and far between.

>> No.30254713

I know nothing of DeFi. How is any of this sustainable?

>> No.30254921

>>30254713
people using margin. i know nothing about farming tho

>> No.30255309

>>30254713
Most of the legit protocols basically work like a decentralized crypto bank that offers a non-custodial automated borrow/lend system. So you deposit a stable coin like USDC in a pool, and someone can go and borrow USDC from that pool. The interest rate is automatically ajusted based on how much demand exists for the asset in the pool. Since we are in a bull market there is a lot of demand for stable coins, so the interest is pretty high. In a bear market interest rates will get a lot lower.
It actually is a very well designed system and even Marc Cuban came out and said this will prob be the future of finance. You should look up Aave or Compound for starters.

>> No.30255395

>>30255309
thanks

>> No.30255403

>>30255309
how long until the jews ruin it? goy youre making money lending money without me?!?!?!? that makes it harder for me to print money and charge people for it goy

*goes and prints 3000000 usd and gives it to a senator and jew york*

>> No.30255451

>>30254329
whats with alpaca locking up your rewards for 30 days? is this thing trustworthy? The last farm that had this lock was soda and it rugged but these guys seems to have strong backing if they reached 1B TLV

>> No.30255528

>>30255309
Any pools you recommend?

>> No.30256029

>>30255528
Check out aave and see for yourself https://aave.com/ It's probably the safest one since they have an insurance mechanism (it's also the one Marc Cuban was praising).
The best APY is on stablecoins, sitting at around 6%, which is not as high as it used to be but it's still multiple times better than any bank will give you. It basically works as a savings account. The safest stable coin is prob USDC, since it's the most well regulated.

There are other less established protocols that offer much higher APYs but may be a bit riskier. This one is a good start if you want to sink in.

>> No.30256453

>>30256029
>>30255528
also I forgot to mention the APY is not fixed, it constantly readjusts based on supply and demand, you can see that the average APY the past 30 days was at around 10~11% on stable coins.

>> No.30256669

>>30255309
Thank you Anon! A succinct explanation. Might out some money into it. I'll take a lower % if it means less risk of rug pulling.

>>30254921
That makes sense. I'm not a fan of margin trading, mostly as I DCA and am risk adverse with my own debt.

>> No.30256814

How does this work? I have a bunch of USDT in my wallet.

>> No.30256828

>>30256029
Found this site. I'll look further into this. Looks like an opportunity to create some serious passive income.
https://www.stakingrewards.com/

>> No.30256876

>>30256828
Thanks for the link!

>>30256029
Is it essentially the higher the risk to the lender, the higher the reward for the coin? Also am wondering if there is lower liquidity that drives up rates?

>> No.30257263

>>30256876
It's not the risk that drives the APY it's the liquidity. Basically if there are a lot of people borrowing from the pool the APY and APR increases to both incentivize people to deposit and disincentivize more people from borrowing in order to not drain all liquidity from the pool. It's basically supply and demand that drives the APY up and down. If a lot of people are depositing and no one is borrowing, the APY and APR will go down.
Less established protocols have higher APY because they also have less liquidity

>> No.30258135

>>30257263
Since you are interested in this another cool thing about these DeFi protocols is that you are not actually locking any of your funds and all the interface on the web app is just to make it easier to interact with the contracts.
For example if you were to deposit USDC, in reality you are not depositing your funds in the traditional sense, you are basically exchanging USDC for aUSDC. This is an interest bearing token minted upon deposit and burned when redeemed. The aUSDC is pegged 1:1 to the value of the underlying USDC that you deposit. The cool thing is that this can be freely stored, transferred, and traded and you can see it accrue interest in real time, directly in your wallet. It's pretty cool! It also makes these protocols pretty much unrugable since you don't need to use the app directly to redeem your deposited USDC.

>> No.30258237

>>30254134
It definitely is a ponzi though. If you're early you can make easy money, but if you're late you're guaranteed to get rugged.

>> No.30258342

>>30258237
not real projects like monero sends money without being traced, bitcoin is a store of wealth, eth does the shitcoin swapping, fantom is making eth cheaper and faster, sxp lets you use a card with cashback

>> No.30258397

>>30257263
>>30258135
Thank you for your explanation! Liquidity makes sense and would explain the very high rate of return for some coins.

>> No.30258406

>>30251577
where the fuck are you getting that much? inb4 waves, thats an obvious rug

>> No.30258546

>>30258342
I was referring to farming mainly.

>> No.30258606

>>30258342
>sneaking FTM in with the real coins

kek

>> No.30258625

>>30251577
So they don't get rugpulled.

>> No.30258855

>>30251577
>incel money!! sell now!!!!
/smg/ is that soiboy wojak thing.

>> No.30259322

>>30252279
Bro ALCX is a stablecoin moneyprinter for whales. If you had 3M in DAI you could deposit it into ALCX, get 1M alUSD, put 900k DAI/alUSD into the curve pool, farm ALCX and then put that ALCX into the ALCX pool to get more ALCX, and just live off the 100k DAI/100k alUSD until your loan matures in a few years. Its a fucking loan that pays itself off basically risk free. There are risks with smart contract vulnerabilities obviously but you are immune to price fluctuations or impermanent loss. Plus you get ALCX on top of that

>> No.30259355

>>30259322
Deposit 2M DAI into Alchemix*

>> No.30259952

>>30253864
Wait, if you just stake/farm stablecoins though, there isn't any risk of not being able to unstake the stablecoin though, right? I know the token you receive from the farming can go to zero, but can't you always get back your staked coins?

>> No.30260141

>crayon money that will be worth 0 USD once their Ponzi is up
At least stake DAI or USDC you mong.

>> No.30260668

>>30259952
There are various kinds of rugpulls. Some let the operator liquidate your stake, ala meerkat.

>> No.30260776

>>30258406
Why is waves an obvious rug?

>> No.30261712

>>30251577
On the stock market I can hope to recover after being rugpulled, given that I invest into stocks with good fundamental reasons to grow. Maybe the recovery will take 5 years, but I can wait.
In case of shitcoins I see a rugpull as a final destination. No, thanks. +35% aren't worth this risk, given that some stocks can give +1000%

>> No.30262059

>>30261712
This thread is massively misleading. As a yield farmer you get 200% with legit projects, with stablecoin staking at least 50% APY, mentioned rugpulls give you 1000-10000%, so stfu please

>> No.30262513

>>30262059
>crypto
>defi
>legit projects
>atleast 50% APY on stablecoins
You're either retarded or a shill. Whatever the case is, feel free to fuck off.

>> No.30262771

>>30253962
Check out APE

Goape.finance launched yesterday, you can farm a ton with BSC LPs and become a whale before they introduce gambling games on the site and use profits to buy and burn.

>> No.30263573

Because that shit is more risky and not sustainable. Show me one project with that return where the APY actually realized

>> No.30263605

lmao, they ask how to have profit with this gas, taxes, dumps, etc

haha what a tards! they will always be homeless

I am not so tarded to believe in this scam trash on /biz/

>my way is fucking top yield staking and vaults on YVS! They burn 0.75 % fee on all transactions. Profit is enormous!

>> No.30263678

>usdt
yes goy, put all your savings in this safe asset hehe

>> No.30263954

>>30251577
>get 35%+ apy on USDT
Where the fuck are you getting that?

>> No.30264052

>>30262513
NGMI

>> No.30264829

>>30259322
>Basically risk free
No one being honest as ever said this

>> No.30264877

can't wait to make it and comfy yield farm with boomer stablecons

so ez