7 ms·

Can you elaborate? Which currencies and how do the lending pools work?

• monero-xmr 4y ago
  For example Synthetix SNX is paying like 30% right now https://staking.synthetix.io/ https://staking.synthetix.io/ Then take the minted SUSD and put into Curve for 8% https://optimism.curve.fi/factory/0 https://optimism.curve.fi/factory/0 Then take the OP minted and put into XTK pool for another 60% https://app.xtokenterminal.io/mining/pools/optimism/0xDa62d109064138c14D45085b6e49568E1C0B4e23 https://app.xtokenterminal.io/mining/pools/optimism/0xDa62d1... This in general is known as yield farming
  • NotYourLawyer 4y ago
    And it's risk-free!!
    • monero-xmr 4y ago
      This is the land of software engineers, risk takers, and gray areas. Never put in what you can't lose, and diversify. You aren't getting these insane APYs risk-free - this is kooki stuff. But if you want to dabble, it's quite interesting.
  • nanidin 4y ago
    How does the $500 compare to your assets at risk in these schemes? I.e. are you picking up pennies in front of a steamroller?
    • monero-xmr 4y ago
      It's quite possible for 100% loss, has happened to me before. But I'm in a lot of different projects and I don't keep all my assets in one place. I've had farms yield 1000% before so it's a crazy game. I'm very deep in this space and been doing it a long time, it's not something you are going to just pick up overnight. It's like running a business.