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53418794 No.53418794 [Reply] [Original]

Is it still possible to make it with reward driven tokens? I don't mean staking or any of that shit, i mean yield farming and automatic token rewards, the smooth kind that hits your wallet almost immediately if you played your cards right.

>> No.53419393

im a simple man, i see low res monke, i fap

>> No.53419436

sure, just remember that the trick is to focus on the fundamentals of crypto and not get caught up in the hype of every new project, some yield farming shit i've seen is asenine as fuck and has tons of baggies because they FOMO'd in from the hype they saw on twitter

>> No.53419443
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53419443

>>53419436
Can confirm, recently fomo'd into HAMI finance, now im FOMO'ing pepepal, i can't be stopped bros

>> No.53419898

>>53418794
I honestly don't know OP, last time i trusted a yield farm it ended poorly

>> No.53419934
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53419934

>>53418794
>I don't mean staking or any of that shit, i mean yield farming

>> No.53420554

>>53418794
OP i think you have a serious confusion about what yield farming means

>> No.53420603
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53420603

>>53418794
I get frustrated from people confusing this so let me teach you a bit of basics OP, Yield farming is a type of staking. In this case the platform takes your assets and uses them for various kinds of activities (like liquidity provision) and then pays you for it. Sometimes this is a reward paid in a different token (like ATOM or MATIC) or the reward can just be more of the asset you are staking (this is called compounding). So let's say you invest 1 BTC and earn 10% APY in interest. This amount you earn will then earn you even more interest and can compound over time to make you a substantial amount of money.

Also the answer to your question is yes >>53419443 is an example of a reward token

next pls

>> No.53422014
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53422014

>>53418794
keep your hands out of the monke, anon

>> No.53422126

>>53418794
buy KENSHI, hold till May 2023. Sell. Retire.

>> No.53422191

>>53418794
Only worth it if your a whale using stables and are diligent about immediately selling the reward token, which is guaranteed to plummet routinely. But when you have that kind of money there are much safer places to stake it for similar rewards anyway. Hopefully next year we’ll get another defi summer where reward tokens temporarily skyrocket and maybe some of the tombs even start printing again, but if that happens it’ll just be exit liquidity for everyone who got suckers in last time and leaving a whole new generation of bag holders who think they’ve discovered the new paradigm without understanding that 500% APR on an inflationary token is indeed too good to be true