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/biz/ - Business & Finance

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30372675 No.30372675 [Reply] [Original]

>outrageously fucking high APYs
What's the catch, anons?
>throw 1,000 bucks at 1,200% APY
>~$1,000 a month
>literally free money
Am I low IQ?

I've never done any farming shit - staked a few times, but that's about all. What's the fucking catch?

>> No.30372841

Might lose value while locked.
Rugpull risk.
Might be priced in via inflation.
If liquidity pool then high APY is to compensate impermanent loss risk.

>> No.30372843

you risk losing your 1000$. The higher the APY the higher the risk you'll lose your money.

>> No.30372861

if it sounds too good its a scam

>> No.30373891

>>30372675
The only legitimate one is BAO

>> No.30373994

the 10 gajillion APY is paid out in the shitcoin of the exchange (eggs, mice, toads, whatever other gay shit) and that underlying coin usually has high volatility (and rug potential)

>> No.30374732

No its just because there is no jews involved that's why you only get .15 apy from banks jews take the other 1000 percent.

>> No.30375743

>>30373891
Why do u think this... I'm genuinely asking

>> No.30375879

>>30375743
Because he's a Uyghur trying to scam newfags into messing with UyghurScam foodcoins you idiot.

>> No.30377326

>>30375743
Docs.bao.finance research it or get left behind. No one cares to spoonfeed anymore

>> No.30378094

>>30373891
no chink.

>> No.30378525

>>30372675
Don't do it OP, the value has to come from somewhere, the APY being given to you isn't coming anywhere, it's being printed. All this does is lower the price for anyone holding.

The ways to make money from this is if you're earlier (like very early, as in a developer), or if you get lucky by being further up on the ponzi scheme than others coming in. Otherwise, you'll just be dumped on by people who came earlier than you did.
Additionally, they usually require you to stake the shit coin + something actually with value, so people can force you to buy their fat stacks of shitcoin, and leave you with something valueless. This leaves you vulnerable to rugpulls from shady shit coins.

It's a bit fucked desu because of the retards, otherwise it'd be an easy to short some of these, however occasionally they will spike in price because people see 1000% APY and chimp out.

Find something with better fundamental value and hold onto it. You can get lucky with those too.

>> No.30378992

>>30378525
Is Cake the only one that works for now? i don't want to lose half of BNB tho, knowing it'll pump soon

>> No.30379229

>>30377326
It's at least stable around .0011 which is more than a lot of shitcoins can boast.
Anons said two months ago that small fishes are better hdoling than farming, is that still the case?

>> No.30379325

Farms are the new bitconnect

>> No.30379362
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30379362

>>30372675
The catch is that it's unsustainable. Anything with that high APY is a literal pyramid scheme. It's the Bitconnect of the 2020 bullrun, and so many fucking retards are going to get financially ruined.

>> No.30379922

>>30378992
Honestly, I don't know how anyone can really argue rationally against the obvious downward pressure of how much it is printing more CAKE supply.

The only rational justification for a price increase is by potential rewards or extra burning mechanisms they may implement in the future, but as seen now, it should drop sans any speculation or random hype.

Now take this with a grain of salt, because I shorted it and got absolutely fucked because randomly it spiked and I almost got margin called so I had to sell. Since then though it has gone down.

The issue is that a lot of people don't think about this, and just see the high APY and don't think too much about it. I did it at first too, then realized the true pressures would just be me bleeding money. I bought at ~11 and sold at ~13 so that part worked out.

I'd recommend not buying any CAKE, can be worth to do a safer pair with BNB + some not shit coin and then just sell the cake though.

>> No.30380016

>>30379922
I'm just thinking you get more money hodling BNB than anything

>> No.30381141

>>30373891
>the only real one is this pnd
Everytime.

>> No.30381319

>>30380016
Yeah, also keep in mind you can get decent returns staking BNB on Binance Dex. It's a lesser known way to get good returns with BNB.

>> No.30381768

>>30381319
Is that the vault thing with a Dodo?