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/biz/ - Business & Finance

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53890251 No.53890251 [Reply] [Original]

I'm lending myself USDC for 39% APR (Borrow APR 43%) and DAI and use it to leverage 25x my USDC-DAI LP for 1550% APR.
This is how winning feels like. I'm making more with this than my full time job.

>> No.53890279

>>53890251
Oh boy sounds just like Anchor Protocol, what could possibly go wrong?

>> No.53890310

>>53890279
well that is a good question, what could go wrong other than usdc or dai losing peg for some reason? he's making more than enough from leveraged yield farming to cover his borrow costs, so what's the catch?

>> No.53890320

>>53890310
Its a ponzi, it'll run out of new money to fund the APR and collapse

>> No.53890335

>>53890320
yeah but his LP doesn't contain the farm token so the risk is shifted to the (unfortunate) bagholders

>> No.53890351

>>53890320
I get paid directly to the LP in USDC-DAI, making it bigger and yielding more over time.

>> No.53890415

>>53890251
LP has real time adjusted rate, meanwhile lending rate stays the same until you paid it off. The dumbest thing you could do right now is telling everyone about your dumbass bet you moron.

>> No.53890789

>>53890415
>The dumbest thing you could do right now is telling everyone about your dumbass bet you moron.
why?