Ridiculous yearn returns

you're worse than the flashloan posters delete this shit you fucking faggot

This is what I don't get. I understand shit like yfi or whatever could dump, but this is just a pool of various stablecoins, so there's little risk of that happening.

No, not unless you explain what the fucking deal is

you supply USDT and these funds are pooled together and staked into some defi scams with unsustainable promised ROI
let's say these funds are moved into bitconnect.finance defi contract, and the contract is a ponzi, another scam or just bugged, then...you go to zero

this crashes as soon as faggots spread the word. dyor and delete thread if you actually want in

you're collateralizing part of your principle in stable coins, and part of it in the staked token (yfi/yfii/zzz whatever).

you'll still be able to get part of your investment back at least, but depending on the principle you've invested in the finance token, you may never see that principle again.

Thanks for explaining. Are there any pools that are actually trustworthy to supply to, and still have a decent apy?

it currently is farming CRV tokens without boosting. Will start getting 2.5x boost on CRV farm when yearn gets whitelisted by Curve DAO governance. That vote officially ends 8/31 although has already been decided with 98% in favor. Returns will increase even more than before.

If you follow crypto twitter you know all the big eth guys are in YFI and have made a fortune further incentivizing them to develop for it. The first mover advantage for YFI is quite large compared to the other clones; just getting the CRV boosting would cost millions in CRV upfront for any other platform.

I explained this to people before CRV launched but there were a lot of ponzi yfi clones around people were posting about and it was largely ignored

Attached: CRVYFIAAVE.png (1791x755, 346.21K)

salty you missed out?

You can add to the pool at any time so how can they have "missed out"?

nope, just telling people to be careful
most of defi contracts are useless erc20 token with mintable supply, so they are literally built to exit scam

lmfao an actual bitcoin maxi in 2020

risk is that one of the four stablecoins collapse overnight

i think you'd be stuck with some decent loss, probably safe except that.

It’s making $. Not btc or other alt bs.
Deposit fiat. Get $USDC or DAI. Deposit into curve. Then deposit that ycrv in yycrv vault.
1% a day easy $.

If you got big stacks like $50k to get started with you will make $ daily.

>What's the catch?
It's new, has risks and this is not an efficient market. You got smart contract risk, exposure to several stablecoins with different risks. If any of the stablecoins in the pool were to go to 0 you'd be completely fucked. The returns for that pool come from CRV which will continue going down without more buying pressure.

>What's the catch?
it's a gay unsustainable ponzi scam, duh

unironically this

on the price movements in defi.
this is more proof

also holy shit yGov id checked

There are many DeFi protocols that distribute tokens through yield farming. The vault farms them for you and sells automatically.
>it's uh ponzi
You could say the same about Bitcoin. It's just an initial distribution method for many legitimate projects, and the APY is the early adopter alpha. yEarn refrains from using its vault for meme ponzis like Yam and Based, and instead farms only projects governance trusts.
This yield will not stay this high forever, but yEarn will. Vault strategies are more than ephemeral liquidity incentives, but those are not crazy APY and thus are in the back-burner for now.

Attached: yfi.jpg (512x512, 28.22K)

Where is the yycrv vault? It's not on that site, they only have a ycrv one

>it's uh ponzi
>You could say the same about Bitcoin
NO YOU FUCKING TWO DIGIT IQ RETARDED MONKEY, NOBODY ON BITCOIN IS PROMISING TO DOUBLE UP YOUR MONEY OR 95% ROI, AND NOBODY CAN MINT BTC OUT OF THIN AIR WITHOUT EFFORT BECAUSE THERE IS NO FUCKING CONTRACT ADMIN LIKE IN THESE SHITTY ERC20 TOKEN
now, defi is not necessarily a ponzi, but it's extremely risky, especially with coins like yfi, because they stake and hold your USDT/C/DAI and go hunting for highest ROI project which could be:
-bugged
-centralized with mintable supply (so exit scam will happen, 100% of the time)
-unsustainable, price could crash

Nobody promised anything on BTC, but early miners got a shitton of BTC for free and unloaded them at great profits to people willing to pay more because they saw the long-term potential. The same is true for the DeFi proof-of-capital distributions, except you're temporarily depositing your money into a smart contract instead of downloading a BTC client, and the unloading can be handled automatically by yEarn.
YFI can't mint more unless a quorum is reached from YFI holders to do so, where we have obvious incentives to be against it. Consensus right now is that it won't ever happen. Multisig key holders have limited power, they can't exit scam and have no incentive to collude against the treasury because they hold more value in YFI than is kept there.

start at curve with USDC/Tether/USDT/Dai.
buy ycrv
go to yearn and click vaults.
deposit your ycrv into the crv vault.

>whats the catch
its a ponzi. have fun while it lasts there wont be chairs for everyone

not worth it!

invest in new shitcoins make 2x in a 1-2 weeks. instead of hodling for a year in a HIGHLY RISKY shit where so many things could fail. if one of them FAILS you could be losing everything.

it doesnt make sense to take on that risk