High risk, high reward DeFi with 8000% APY

R4v3nbl4ck · Oct 19, 2021

OlympusDAO is an experimental DeFi platform where you can currently earn about 8000% APY by simply staking its token called OHM.
It's a legit project similar to Terra/LUNA and you can read how it works here: https://coinmarketcap.com/it/currencies/olympus/
Obviously the APY won't be 8000% forever, and the token value could potentially go to zero (remember Iron Finance?), but if you like high risk, high reward, why not give it a shot with a small amount?
I personally put $200 on it. If the project fails and OHM goes to zero, I won't care. However, if it doesn't, I could potentially be rich in a year or two.
I'm not affiliated with the project. Please do your own thorough research and learn how it works before thinking about investing.

RichKIDLK · Oct 19, 2021

R4v3nbl4ck said:
OlympusDAO is an experimental DeFi platform where you can currently earn about 8000% APY by simply staking its token called OHM.
It's a legit project similar to Terra/LUNA and you can read how it works here: https://coinmarketcap.com/it/currencies/olympus/
Obviously the APY won't be 8000% forever, and the token value could potentially go to zero (remember Iron Finance?), but if you like high risk, high reward, why not give it a shot with a small amount?
I personally put $200 on it. If the project fails and OHM goes to zero, I won't care. However, if it doesn't, I could potentially be rich in a year or two.
I'm not affiliated with the project. Please do your own thorough research and learn how it works before thinking about investing.

200*8000/100 = 16000 USD Per year

italianstarman · Oct 19, 2021

RichKIDLK said:
200*8000/100 = 16000 USD Per year

at the time of writing, probably, will not be even this high.

Tribune · Oct 19, 2021

Thanks, I will have a look at this.
I assume that the APY goes down as more people stake there and have to share the rewards.

Athanasios · Oct 19, 2021

Also worth checking, forks of Olympus Dao: Time Wonderland and Klima Dao.

cryptounions · Oct 19, 2021

$16k per year is not a lot i think.

CPANathan · Oct 19, 2021

cryptounions said:
$16k per year is not a lot i think.

This guy.

TheVigilante · Oct 19, 2021

cryptounions said:
$16k per year is not a lot i think.

In some countries it is but this is only possible in a year or two right?

R4v3nbl4ck · Oct 19, 2021

cryptounions said:
$16k per year is not a lot i think.

With a $200 investment yes, it's a lot. I can also invest the $16000 in something else and earn more.

Gogame1 · Oct 19, 2021

In which chain is this present?

cryptounions · Oct 19, 2021

R4v3nbl4ck said:
With a $200 investment yes, it's a lot. I can also invest the $16000 in something else and earn more.

too risky if you invest $16k, but $200 is Okay ，if we lose it then lose it, it's just small money.

R4v3nbl4ck · Oct 19, 2021

Gogame1 said:
In which chain is this present?

Ethereum.

cryptounions said:
too risky if you invest $16k, but $200 is Okay ，if we lose it then lose it, it's just small money.

I would not invest $16k in a risky platform like this one. I would invest it in something more secure.

RichKIDLK · Oct 19, 2021

R4v3nbl4ck said:
Ethereum.

I would not invest $16k in a risky platform like this one. I would invest it in something more secure.

Something more secure? hmm what are those staking platforms?

k2h2 · Oct 19, 2021

RichKIDLK said:
Something more secure? hmm what are those staking platforms?

He means other investment opportunities than crypto. There is always risk in crypto, some luck is there.

RichKIDLK · Oct 19, 2021

k2h2 said:
He means other investment opportunities than crypto. There is always risk in crypto, some luck is there.

I thought both 1 and 2

JavascriptPufferfish · Oct 19, 2021

k2h2 said:
He means other investment opportunities than crypto. There is always risk in crypto, some luck is there.

I think he means a more secure platform. For example, raydium. Good enough APYs with low risk of rug. Impermanent loss is, as always, a risk.

awesomewebsites · Oct 19, 2021

So much returns make it doubtful. It can give to few users but if the number rises a lot, it will be hard to sustain.

R4v3nbl4ck · Oct 19, 2021

k2h2 said:
He means other investment opportunities than crypto. There is always risk in crypto, some luck is there.

I meant investing in more stable cryptocurrencies or assets, or maybe in a project.

RichKIDLK · Oct 19, 2021

R4v3nbl4ck said:
I meant investing in more stable cryptocurrencies or assets, or maybe in a project.

What is the project you think to stake for good APY other than this? I mean we all know these are not perfect ones. But what's your idea about staking platforms?

k2h2 · Oct 20, 2021

R4v3nbl4ck said:
I meant investing in more stable cryptocurrencies or assets, or maybe in a project.

More stable like BTC or ETH cannot give such huge returns. That is why people try new coins.

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