This Crypto Offers 8.85 Million % APY
You read it right — 8,850,000%.
Do these numbers interest you?
Before anything else, what is an APY?
Annual Percentage Yield (APY) is the real rate of return earned on a savings deposit or investment taking into account the effect of compounding interest.
Let’s put things into perspective.
Here’s how much banks are offering right now, May 2021, in APY.
photo credit Bankrate
The highest APY, offered by Axos Bank, is 0.51%.
You’re lucky to get 5–20% APY in any savings, CDs, or time deposits, dealing with fiat currencies.
However when it comes to crypto, you could get up to thousands in percentage depending on what coin you’re trading.
But 1,000,000%? How about 8,850,000% in APY?
It got me scratching my head too.
How did this happen? Let’s get to it.
Wault.Finance
Wault.Finance is a decentralized finance hub that plans to connect all the primary DeFi use-cases within one simple ecosystem on Binance Smart Chain.
Like Binance, Wault aims to cut down the excessive fees and confusing interface that you currently see on most trading platforms. On top of that, holders of the WAULT token will also be able to vote on and decide all aspects of the protocol’s future development path. Did I forget to mention that Wault also has its own IDO Launchpad?
If we base their achievements on their published roadmap, they’re pretty much on track, if not ahead, in meeting their goals this year.
WAULT’s price started at $6.50 per token during its launch last February 23, 2021. It reached all time highs of $95.92 before settling around $70 per token.
Lowest price of $6.50 to ATH’s of $95.92 in only a span of 3 months!
Before all these moon coins were made, Wault was already implementing token redistribution to all holders and this was taken from transaction fees. They called it the “inactivity fee”.
Here’s how that looks like.
2.2% Transactions Tax: — 1.2% is Burned — 0.5% to Staking participants — 0.5% to Marketing Fund
0.8% Inactivity Fee for Non-participants: — 0.8% to Staking participants
You can read more about the details of the WAULT tokenomics here.
As of this writing, WAULT tokens are migrating to WAULTx at a rate of 1WAULT = 1000WAULTx.
You could read the reason behind the change here.
It gets even better.
Wault Exachange $WEX
The Wault Exchange ($WEX), is a new project in the Wault ecosystem which was recently launched a few days ago. Holders of WAULT had the privilege of receiving generous airdrops of this new coin and since its launch, $WEX’s price has grown 26x.
This insane APY was made possible through Wault’s partnership with Eleven.Finance, a yield optimiser, a vault ecosystem that empowers high APY farming strategies on the Binance Smart Chain.
By adding $WEX and $BNB liquidity and staking the liquidity points, you can earn Eleven.Finance $ELE coins. As of this writing, 1 $ELE = $5.32 on CoinGecko.
In order to Stake $WEX-$BNB WLP (WAULT Liquidity Pool) here are some steps you can follow.
1. Buy $WEX Tokens.
You can either purchase $WEX directly from the WAULT exchange platform using this link or go to PancakeSwap.
$WEX Contract Address: 0xa9c41a46a6b3531d28d5c32f6633dd2ff05dfb90
You must connect your TrustWallet or MetaMask to either exchanges to make this happen.
Here’s a detailed video tutorial on how to buy $WAULT on PancakeSwap.
2. Buy $BNB.
$BNB is the pair required for this farm so you need an equivalent amount of $BNB to the $WEX you’re staking.
3. Add Liquidity using $WEX and $BNB on the Wault Platform.
Do not use PancakeSwap to add liquidity. You must stake it on the Wault Platform to get WLP.
You can put in any amount before submitting the transaction to see how much $WEX or $BNB you will need for liquidity.
4. Click on “Auto Compound with Eleven”
The APR offered on the WAULT platform is already good at 1,229% APY. They offer you $WEX in exchange (if you want to go that way.)
5. Type in “WEX” on the search bar or tick the box that says Deposited Only.
If your wallet is not automatically detected when you launch this page, just connect it again using the same steps you did before.
Select the WEX — BNB WLP.
6. Deposit, Approve, Stake!
You need to go through sign several transactions before your WLP is fully staked. You will be required to approve the transaction when you click on “Deposit”, “Approve”, and “Stake”. Make sure you select the amount of LP you want to stake before clicking on the “Stake” button.
7. Congratulations, you’re now earning 8.85 Million % APY!
Now see your LP tokens grow in value. As an added bonus, you will also be earning $ELE tokens.
If you don’t see $ELE in your wallet, just add their contract address.
$ELE Contract Address: 0xacd7b3d9c10e97d0efa418903c0c7669e702e4c0
Furthermore, if you simply just want to earn more $WEX tokens, you only need to stake your WLP on the Wault Platform.
Now that wasn’t too bad, was it?
As of this writing, 1 $WEX token = $0.079 on CoinGecko.
Still having a hard time?
courtesy of Wault Finance
The same steps can be used in buying $WEX, you just need to use the $WEX contract address: 0xa9c41a46a6b3531d28d5c32f6633dd2ff05dfb90
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