I decided to dive deep into the topic and I’m blown away. Forget about the value of BTC/ETH.... At the moment there are “decentralised exchanges” that offer a 50-60% Annual return on investment on.... the US dollar. Yes, you can deposit in crypto, swap any crypto to tUSD o other stable coins 1-to-1 pegged to the dollar and farm with compound interest at 50%+ APY. How can this be sustainable?
Wtf? What’s an example of these decentralized exchanges?
What are the simple steps to execute this ?
On YouTube “DeFi yield farming” and “yield farming stable coin”
Isn’t there risk of losing your entire investment? There’s no such thing as risk free 60% returns. What is the catch?
Yeah. Rug pull
So many scammers in the defi space lol. Like the ico craziness a few years back, where Russian farmers were selling tokens for their cows
Consensys puts out a good DeFi report that covers opportunities, use cases and smart contract vulnerabilities. Worth a read before you go down the yield farming rabbit hole
This is a blog?
No they’re a dev shop that builds apps on the ethereum network and run a lot of the meetups/conferences in the crypto community. Check them out
If it’s too good to be true ... probably ain’t true. If you think it’s easy money, there gotta be a catch unless you believe you uncovered a secret no one else has
shhh, the less people know the longer these returns will remain
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DeFi doesn’t just cut out the middle man, it cuts out the fucking industry. It will be super volatile and super profitable until it finds its place.
fiat money is going to lose value non stop, and if you can crack the usd you can then crack any other fiat. It’s fascinating and scary at the same time
Everyone and everything that has ever tried to challenge central banking has been squashed or became a part of the system. DeFi will have to find some legitimate strongholds before we have a chance at seeing any significant impacts.