Neosify - Buy, Stake & Earn Crypto
Neosify - Buy, Stake & Earn Crypto
Neosify - Buy, Stake & Earn Crypto

Cake Pool haz DOGE (and LTC), kind of scams overzealous investors

If you haven't joined Pool by Cake yet, or perhaps if you haven't checked your balances recently, you might be missing out. Don't worry -- not quite as much as the people on the hype train were predicting -- but a little bit, at least.

Earlier today while thinking about removing my BTC from the liquidity pool, I noticed that Cake was offering over 3000% APY on the LTC-DFI pair. HOLY WOW! Naturally, I bought some LTC, transferred it to the protocol, and switched pools. Several hours later, after my position had been established, I noticed that the APY magically changed from 3000+% to 77.84%. Wow, Cake... I thought this was supposed to be the "most transparent" somethingorother. Maybe it was a kind suggestion to exit stage left before the pump. Sure.

Either way, I was still quite pleased when I removed my BTC and DFI from liquidity mining after a little less than three weeks to use my DFI for mining the LTC pair instead, and noticed that ZERO impermanent losses were realized! In fact, I withdrew my balance at such a time that I INCREASED my BTC position by a little bit. Alright! That makes up for the extra ~30 cents I had to pay for each DFI that I bought on the platform 😏

... Which reiterates to me that the right strategy for utilizing liquidity pools is to WRITE DOWN THE PRICES AT TIME OF DEPOSIT somewhere. That way, you can choose a more profitable time to get out.

Impermanent loss does not have to be a loss. It's just a rebalancing. If you are smart, you can use it to your advantage.

lol ignore this if you're not a noob (but do it if you are!):

If you use my referral link and deposit $50 worth of an asset to the protocol, you get $30 worth of DFI tokens (locked into a 37% APY staking pool for 180 days), which are likely to do quite well in the future anyway, plus you can get mad gianz from liquidity mining normally non-minable assets (like DOGE and LTC), or 5-8% on your BTC, ETH, or USDT in a Lapis staking pool. If you deposit BTC, be prepared to pay a 0.0005 BTC fee for withdrawal. The other withdrawal fees are much more normal/reasonable.


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Science enthusiast, semi-smart person, amateur musician, human father, plant father, hoping my crypto bags get me rich.

Gaems and Faucets and Earnings, oh, my!
Gaems and Faucets and Earnings, oh, my!

Trying to get you to use my referral links 😅

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