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Don't try this at home! In this article I will present Olympus DAO forks. Olympus DAO was the first such platform based on rebase. Basically the model is similar to that of Ampleforth but with the difference that we are talking about staking with huge APYs. This is not stablecoin but the rebase (every 8 hours usually) distributes the staking rewards. There are no ref links but the model in which these systems are founded is very similar to pyramid schemes. Why? Users who log in early earn more than others. The more people who join the staking, the greater the profits. The staking APY are huge so it is possible to try these platforms even with small amounts.
If you want to use Wonderland or Snowbank you have to configure . You can read the network configuration here:
Network Name: Avalanche Network
New RPC URL: https://api.avax.network/ext/bc/C/rpc
https://cchain.explorer.avax.network/
WONDERLAND MONEY (AVALANCHE)
Wonderlandruns on Avalanche therefore unlike Olympus DAO (Ethereum) the fees are ridiculous (almost free). How does it work? I transfer Avax from an exchange on the C-Chain (Binance supports withdrawal on this chain) and then basically do the Time bond. Time is the token on which Wonderland Money staking is based.
As you can see in the image, I can make Time "mint" using these 4 tokens:
Basically I could buy Time directly and stake it but providing liquidity (with one of the four tokens) you get Time discounted. The "positive %" is the net gain that I will get at the end of the 5 days of vesting. If you buy at a "negative %" you are paying Time at a higher price than the market price. So you have to choose a "positive %". For example if you use wAvax you will have a 7.03% net gain after the 5 day vesting.
If you use one of the two LP tokens, you must provide liquidity on Trader Joe with that pair and then put the LP token in this pool to make Time mint.
In the 5 days, during the vesting, you start getting Time. Day after day you can stake it (at the end of the 5 days you will have your "discounted" Time).
What happens at this point? You start earning Time every 8 hours (rebase) with that crazy APY you read! I started with 50,000% APY, now it's over 90,000%! You get a "receipt" called a Memo (it represents your Time + staking Time rewards). When you unstake Time, all your Memo are converted to Time and you can sell them on Trader Joe
SNOWBANK (AVALANCHE)
We always remain on the Avalanche blockchain. This site (Snowbank Finance) is pretty much identical to Wonderland Money, apart from bonded and (even bigger!) APY. I think this platform is less reliable than Wonderland, however, given the huge APY it is possible to put a small amount.
I urge you to note the "negative %". In this case it is not advisable to provide liquidity with wAvax and Mim (stablecoin) because after 5 days I would have a negative vesting. I am not buying Snowbank at a discount. Always use "positive %". Ok but what is the APY?
INVICTUS DAO (SOLANA)
Finally I want to close with Invictus DAO which was built on Solana. In this case you must use the wallet. This platform is identical to the other two, the only difference is that here the rebase takes place "live". Rewards are added to the account, second by second.
In the image above you can finally see the vesting. If you notice, I have deposited USDT to take Invictus (IN). I will receive it in full after 5 days but I can start taking my rewards (In) and staking them!
What advice can I give? You don't have to put in more than you are willing to lose. It is gambling and a new business model! The other advice I can give is to check the dashboard of the various sites:
1) Backing (it is the minimum price that the token can reach, at least in theory. It increases with the increase of the funds placed in staking. It represents the underlying of the token we created: Time, Sb, In)
2) TVL (total deposited)
3) Treasure Balance (perhaps the most important factor. It regulates the staking therefore the APY. The "minimum" price therefore the backing derives from here)
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