Yield Farming Ponzi
Whats worse is that from the tokenomics of yam it was obvious that this was a ponzi game. Despite its admittedly ponzi like nature it may lead to real innovation.
Is Defi A 10 Billion Ponzi Scheme Its Yields May Be Too Good To Ignore
This comes after the chinese police arrested the core team running the scheme in july.
Yield farming ponzi. This comes after the chinese police arrested the core team running the scheme in july. In other words only investing in ethereum is not considered as yield farming. Yield farming also referred to as liquidity mining is a way to generate rewards with cryptocurrency holdings.
Yield farming in simple words the same as crop farming. Yield farming is a fad but defi promises to change the way we interact with money coin telegraph how ethereum could stage rally to 600 if it clears 550 ethereum peafarm nft crypto games on tron 40 platform airdrop is now live bitcoin. The farmer produces crops on a piece of land and after some time harvest it to gain profits.
Chinese authorities seized around 4 billion worth of bitcoin and other cryptocurrencies from the notorious crypto ponzi group plustoken. How and where to farm defi yields money markets. Yield farming with 100 1000 in crypto will result in a net loss.
Yield farming is a method of using otherwise idle assets for beneficial purposes. You know we hear terms like yield farming being bandied about but its also now being compared to the ico craze of 2017. In crypto the investors put lend stake etc their tokens or coins to generate more profits from them.
If youre tinkering with small amounts to understand how it all works thats okay but the strategy isnt profitable. Around 4 billion worth of bitcoin and crypto assets seized according to cryptopotatos previous report on the plustoken saga the crypto. For defi to fullfill its goals of a new permisionless financial system it needs to go mainstream.
And it will not achieve that through ponzi games and chad memes in twitter. Weve heard terms like ponzi scheme the impending rug pull yield jumping and in fact messari founder ryan selkis recently stated that defi is a bubble waiting to burst. Chinese authorities seized around 4 billion worth of bitcoin and other cryptocurrencies from the notorious crypto ponzi group plustoken.
In simple terms it means locking up cryptocurrencies and getting rewards. We wont get any new users with the yolo yield farming memes. Yield farming is a hot new craze in crypto.
Understanding sources and types of return however is critical to assessing. It involves taking assets from users lending them to different protocols in exchange for gaining more assets than initially provided. Around 4 billion worth of bitcoin and crypto assets seized.
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