If you're new to DeFi, reminder to NOT blindly chase high APYs.
🌽 First, ask how long will this APY hold up?
🌽 Then, estimate the yield earned over that timeframe (ie 100% APY on $1,000 for 30 days = ~$82).
🌽 Lastly, is it worth risking my deposit for that estimated yield?
🌽 First, ask how long will this APY hold up?
🌽 Then, estimate the yield earned over that timeframe (ie 100% APY on $1,000 for 30 days = ~$82).
🌽 Lastly, is it worth risking my deposit for that estimated yield?
🤔 Often, you can make an educated guess whether the yield rates can go up or down.
🧮 For example, if all the yield comes from rewarding a governance token and its token price / USD has been trending downwards, you know that the yield could also drop with the token price.
🧮 For example, if all the yield comes from rewarding a governance token and its token price / USD has been trending downwards, you know that the yield could also drop with the token price.
🍊 There's always a new yield to earn, but is the juice worth the squeeze?
🛡️ Unless I know I can insure my assets against smart contract bugs, oracle failure, economic design exploits with @NexusMutual, I have to consider I could lose 100% of my deposit. app.nexusmutual.io
🛡️ Unless I know I can insure my assets against smart contract bugs, oracle failure, economic design exploits with @NexusMutual, I have to consider I could lose 100% of my deposit. app.nexusmutual.io
🚜 Btws, a great example of sustainable yield is @anchor_protocol if you have a Terra wallet earning ~19.5% APY on UST, projected to earn for years (at worst months).
🌔 Alternatively, @orion_money earns 15% fixed with USDC, DAI, USDT, BUSD, or FRAX on Ethereum, Polygon, or BSC.
🌔 Alternatively, @orion_money earns 15% fixed with USDC, DAI, USDT, BUSD, or FRAX on Ethereum, Polygon, or BSC.
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