*** OFFICIAL Going FULL RETARD On DeFi Thread ***

[Rick Sanchez]

Okay so farming stablecoin pairs for ~10% apy is okay... but what if you could take stablecoin and a blue chip stock like AMZN and farm that liquidity pair for 28%?

Does that sound cool?

[OVENWAX]

Can still buy the NFT's and make profits selling em on but no doubt there are better plays out there if you dont like soccer as is the standard for most of you muricans

[OVENWAX]

11% is a solid in the real world so nothing to be sniffed at there.

Lots of interesting project out there I'm balls deep in Algorand and NFT's on a site called sorare it's basically fantasy football with NFT's its amazing but you really want to have an interest in soccer if you want to win at the game.

[Rick Sanchez]

Thanks. Of the dozens of DeFi sites out there, I got pretty unlucky in choosing the one that happened to have a vulnerability in its code.

I still have a positive out look on DeFi overall. Having the opportunity to be a market maker is pretty amazing.

One of my more sharp and successful friends used to invest in bitcoin dice websites. You could literally just be the house. You send btc, and whatever % of the house's bankroll you put up, you get that % back in house profit. It made zero sense to me that any operator of a successful gambling site, with a license to print money, would share their profits like that. Why not just put up their own money and keep everything? He tried to explain to me that not everyone has that kind of bankroll, and that you provide value by adding liquidity.

DeFi is a very similar concept. You get to be the house by collecting fees from every swap users make. The difference is you might be playing a losing game with some of the more volatile token pairs. Higher risk, higher reward.

That same friend thinks I'm being a noob with my USDT/USDC liquidity pairs on Uniswap. In the world of crypto, he likens it to investing in bonds. Apparently there are low risk methods of grinding out 30%+, but they take some research and effort.

I'm gonna take my miserly 11% and focus on some other crypto projects in the SOL/NFT space for now.

[OVENWAX]

congrats on the comeback

[PLOL]

Sanchez is God!

[Rick Sanchez]

can we get an update? I mean it’s a story as old as time but to hear it from the horse’s mouth is extra sweet.

There was a flash loan attack on BUNNY and I got rugged for about $8k! RIP

I took what was left and dumped it into SOL and NFTs and made back $25k

I have since been parking my stable coin on Uniswap and have been making a steady 11% APY

[krypt]

can we get an update? I mean it’s a story as old as time but to hear it from the horse’s mouth is extra sweet.

[sonatine]

[gauchojake]

Robert Downey Jr in blackface doing a diatribe on retards is amazing

Can you imagine reading the Tropic Thunder script today and saying yeah that will be good for my brand let's do it?

[gauchojake]

[Sheesfaced]

Update?

[sonatine]

also so we're clear 'going full retard' is the gender i identify as.

[Rick Sanchez]

It may be the case that the returns you're getting are in the form of shitcoins. If you're staking stablecoins, this is not much of an issue. You can sell the shitcoins that you've earned and convert them right back into stablecoins. There is almost no risk in doing this.

Staking other assets can be much riskier. I'm getting super wrecked today because I held a bunch of CAKE and BUNNY, which I've been staking to earn more CAKE and BUNNY. This is great during a bull market, or even if it's going sideways. But not so great today! lol

Decentralized finance is a fantastic innovation. The "going full retard" title of this thread was not for simply participating in DeFi, but for betting so big on being a shitcoin marketmaker.

[Rick Sanchez]

This is all just autoutosurf hyip scams polished up, no?

HYIP scams require opacity and trust. The opposite is the case here. You can audit these token contracts and see exactly how everything works under the hood. It is a trustless system with no mystery to any of it, no need to project sophistication.

All that's happening here is that you're being the middleman and taking a cut of every transaction. The APYs are governed by math and executed by code.