ARTICLE UPDATE: POLY YIELD HAS RUG PULLED STAY OUT DEPOSIT FEES ARE AT %100
Over the past couple weeks I've had my money parked in a safe farm waiting for an opportunity to arise. Due to Polygon's price drop a lot of the Polygon ecosystem is effected as well; Polycat's FISH token is down to $15, AAVE's borrowing APY interest(for MATIC) skyrocketing, and many farms are rug pulling or soft rug pulling(whatever the you want to call it, dev's disappearing with money is disgusting). Anyways my point is that in times of turbulence its a good idea to play safer which is why you see people going to stable coins with their liquidity. Although stable coins are a safe play I'm young and truly believe in Polygon for the long term so I'm going to stay farming Matic with yield farms, which brings me to a farm I've been using lately and enjoy. PolyYield.
You might've already partaken in these dev's first farm PolyYeld, which was a bit of a test run for the dev's but they are using their first token to help ,"have lowered deposit fee's and a more fair initial distribution... for less price dilution". The dev's say they don't have plans on buy backs and burns off of deposit fee's so we will see how they use the money. Honestly I'd say this farm is pretty safe if you're an experienced farmer and are ready for rug pulls at any time, but if you're not I'd wait it out. This farm has already been active for a few days now and the token price is dropping but the rates are still better than other farms right now like Polycat. With crypto going through a crab market, all I can do is chase the best rates that I can find so this farm fits the description for the time being. For every $1000 you put in you'd be earning $93 a day(this will go down over time but dam imagine the first couple of days earnings per $1000, it was probably around $150). It is literally financial institutions Armageddon, why would you keep any money in a bank account right now to lose its worth to inflation when you can be profiting thanks to yield farms and Polygon liquidity programs!
Want something safer? Use Polycat! Yes it is the biggest farm in the Polygon ecosystem, but it has passed the greatest test for yield farms, time. You won't earn as much as other farms but I guarantee these dev's are as transparent a window. Interested help a fellow crypto farmer out by using my referral code.
*I’m not a certified financial planner/advisor nor a certified financial analyst nor an economist nor a CPA nor an accountant nor a lawyer. I’m not a finance professional through formal education. I’m a simple man who believes in investing for your future. The contents on this site are for informational and entertainment purposes only and does not constitute financial, accounting, or legal advice. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.*