Equalizer

First hand experience from adding 1000 Fantom to a Concentrated Liquidity farm on Fantom

By ty5 | Money Matters | 29 Aug 2024


The quick down low: I had to give this a try but unhappy with the results. 

Have you tried using Fantom yet? I really like using it, the transactions are fast and the cost per transaction is usually less than and a usd penny. Don't take my word for it check out their explorer

Fantom Scan explorer

Anyways, there is this protocol on Fantom called Equalizer. I wanted to try one of their Concentrated Liquidity farms. It had some juicy interest rates. I thought I could put some of that Fantom in my wallet to work. I added 1000 WFTM to the farm pictured below.

/screen shot from Equalizer CL

I just took it out today (8/29/2024) at a loss. Here's a little worksheet I used to quantify my loss.

worksheet

Although the above is a rough calculation, it is not what I was hoping for or expected. There were some other Equal rewards that I missed in the calculations above and it is a productive asset, which over time, may make up for my loss. Hope you liked the short breakdown and beware of impermanent loss or permanent loss in my case. BTW, I did not mention that Fantom is gearing up for the future and will be upgrading bigtime to Sonic.


Sonic Chain Launch

Designed by Professor Bernhard Scholz, one of the world’s foremost experts on virtual machine development, and his team, and led by DeFi pioneer Andre Cronje, the Sonic chain is a new layer-1 chain with a native layer-2 bridgeconnected to Ethereum.

The Sonic chain will be a layer-1 platform that connects to Ethereum via a bespoke layer-2 bridge, allowing Sonic to tap into vast amounts of liquidity, users, and protocols. This allows the network to combine the low cost, scalability, and speed of a layer 1 with the security of a layer-2 bridge for access to native ETH and other assets on Ethereum. As a result, the Sonic chain isn’t just an L1 or L2 — it’s the first chain of its kind to provide the best of both.  Source

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ty5
ty5

Curious vegan with hopes for a brighter future


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