DEGEN FARMS, still a thing?

[alphamaterx]

I remember Degen farms being a zilion % yield generating machines.
What happened to this concept, I could not find conclusive info on the interest of the degen farms that still exit.

Are there any existing degenfarms?
Has the concept fizzled off, or 'evolved into something else?

 

[Relykov]

I remember Degen farms being a zilion % yield generating machines.
What happened to this concept, I could not find conclusive info on the interest of the degen farms that still exit.

Are there any existing degenfarms?
Has the concept fizzled off, or 'evolved into something else?

I think it fizzled off just like with the rest of defi. Havent heard about these in a good 3 years

 

[alphamaterx]

I think it fizzled off just like with the rest of defi. Havent heard about these in a good 3 years

Is there an evolution of this, or another concept similar to it that's around now?

 

[natsuko]

Degen farms are still around, but they’ve definitely lost some of the hype from the peak DeFi days. Many migrated to more sustainable models or folded due to unsustainable yields and rug pulls. You might want to check on newer protocols in the Arbitrum or Optimism ecosystems, some still have high APYs, but with more caution around audits and tokenomics now. Always DYOR though!

 

[Relykov]

Is there an evolution of this, or another concept similar to it that's around now?

Its all gambling. Memecoins have replaced the majority of these farms because on memecoins it can go 100x in 1 day and with farms youre waiting a long time and your money is locked in.

 

[alphamaterx]

Its all gambling. Memecoins have replaced the majority of these farms because on memecoins it can go 100x in 1 day and with farms youre waiting a long time and your money is locked in.

Very good point.

Degen farms are still around, but they’ve definitely lost some of the hype from the peak DeFi days. Many migrated to more sustainable models or folded due to unsustainable yields and rug pulls. You might want to check on newer protocols in the Arbitrum or Optimism ecosystems, some still have high APYs, but with more caution around audits and tokenomics now. Always DYOR though!

Its all muddy and I could not find one that has real strong volumes. Do you know any? @natsuko




We're looking at finding a concept that allows us to build a degen, that's sustainable. If thats even possible.

 

[OracleBo]

Degen farms still exist, but they have become less popular due to increased caution among investors following numerous hacks and scams. Many of these platforms have evolved or shifted toward more sustainable models, focusing on real-world use cases and reliability.

 

[Google adword expert]

I think its still exist but the danger zone is too high

 

[alphamaterx]

Degen farms still exist, but they have become less popular due to increased caution among investors following numerous hacks and scams. Many of these platforms have evolved or shifted toward more sustainable models, focusing on real-world use cases and reliability.

@OracleBo That's my next question.
What's a good example of an evolution of these platforms?
What is a sustainable model adopted by one or any of these degen farm?

I'm referring only to Degen-Farms, not normal yield farms. A famous degen farm was Polywhaple

I simply could not find any farm that still has a degen model, and those that have some resemblance to degen do not have any real volume.