I made a bad cryptocurrency trade with my Ethereum in a basically brand new DeFi yield farming liquidity staking coin called CAPY. Here's how my $350 worth of 1 ETH DID NOT turn into $100,000. Sub to VoskCoin! http://voskco.in/Sub Please read the original write-up, the revised write-up, and the latest edit recapping my experience staking the "highest yield" DeFi coin ever here - http://voskco.in/degen Mine Ethereum on CoinFly's ETH mining pool for a 10% bonus! https://ift.tt/3cR3kI2 I've become super fascinated with the decentralized finance "DeFi" sector of cryptocurrency, and when I was approached about reviewing a coin that was launching the next day I said you know what, I'll try it! Unfortunately, when I staked this coin I converted my 1 Ethereum into 50% Ethereum and 50% of their associated coin, CAPY. One of the things I did not understand that I was buying the coin at an inflated price due to the way the algorithm was working, and I also did not understand impermanent loss -- which I learned first hand can quickly become permanent! Another issue was the fact that I assumed the staking rewards on this DeFi coin were static, so once the system said I had earned those rewards that they were guaranteed. Unfortunately, the rewards are DYNAMIC, which basically means once the value and price associated with this project dump.. so did my staking reward quantity of coins. There's even more to it than this video description but at the end of the day I understood the risk I was taking, I was excited and hopeful it would work out AND I literally said don't do what I am doing, in 3 days we can either be impressed with the money or make or laugh at me for losing my $350 worth of 1 Ethereum. Links! Orb the original DeFi coin with a lockup that was forked - http://voskco.in/04z0 The future of CAPY and APY.Center from the Devs - http://voskco.in/UFJP The full Defi Degens Dungeon VoskCointalk yield farming and liquidity mining thread including all links discussed in this video - https://ift.tt/3iA1DR6 Timestamps 00:00 This is a vlog and my warnings are serious 04:06 Review how my crypto trade became a bad one 06:03 Lessons learned when investing in new risky DeFi coins 09:45 How much money and Ethereum did I lose? 10:23 The future of CAPY and APY.center according to their devs 12:21 What my future plans are for yield farming and liquidity mining 13:59 I learned an expensive lesson in crypto and I'm okay with that VoskCoin Patreon - https://ift.tt/2KvPYmF VoskCoin Facebook - https://ift.tt/2huOAmy VoskCoin Reddit - https://ift.tt/2FHspUg VoskCoin Discord Server Invite - https://ift.tt/2DySDII VoskCoin Twitter - https://twitter.com/VoskCoin VoskCoin Instagram - https://ift.tt/2hvVCYy VoskCoin Official Donation Addresses BTC - 12PsgKuhcJrEqJbD3oMN7rcEcuyqyqRznL ETH - 0xDEe6A2ae293F8C58Ef71649658344BbF382b6e70 ZEC - t1ZoVF5t75NahSAfuwpcyHA8uzkPyocXpJZ VoskCoin is for entertainment purposes only and is never intended to be financial investment advice. VoskCoin owns or has owned cryptocurrency and associated hardware. VoskCoin may receive donations or sponsorships in association with certain content creation. VoskCoin may receive compensation when affiliate/referral links are used. VoskCoin is home of the Doge Dad, VoskCoin is not your Dad, and thus VoskCoin is never liable for any decisions you make. #Uniswap #Crypto #DeFi #VoskCoin #cryptocurrency #UNI #decentralizedfinance #yfi #staking #passiveincome #investing #trading
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