As a newer yield farmer, I expected to have some hiccups learning how some of these farms worked. Sure maybe I wouldn't make my deposit fee back on the first farm but I did not even think about getting rug pulled early on my 3rd farm. Rug pulling with a yield farm involves the developer of the project taking down everything; Twitter, farming website, and maybe a Telegram if they have one. Then pulling all the tokens in a new pool they have created in the smart contract while you freak out trying to figure out where your money is. Well I got good news for you if you're in a rug pull situation, you can get your money back using a feature in the smart contracts called Emergency Withdrawal. Recently a farm I was in that started off pretty well(honestly too well) called Dinosaur Finance rug pulled after the 3rd day of farming, sure I'd made my deposit fee back and some but at the time of the rug pull I was freaking out. Did I lose my entire deposit? Was the dev taking my money by the minute? No, all I had to do was figure out which pools/the ID of the pools that I had money deposited in and execute an emergency withdrawal from those pools.
In order to see the contract or write a contract whenever you want you'll need to have the MasterChef. The location of these vary from farm to farm, some devs are transparent, some try to act transparent, then there are the scum of the earth who try to set up farms without sharing the MasterChef so you can't emergency withdrawal. Thankfully my first rug pull was a person who tried to act transparent and had a RugDoc audit and shared the MasterChef so while I wasn't able to get my last harvest I was able to get all my Matic back through emergency withdrawals. Going to Read Contract on the MasterChef you'll find a poolinfo box where you can go through the number of pools and see which pool number is the pool with your deposited money. After you go through the pool numbers go back up by Read Contract and press Write Contract. This is where you'll be able to do an emergency withdrawal by just typing the pool number EX: 1 then press write and you'll get your deposit back! I had two pools so I did 1, write, then 3, write, then boom all my money was back in my METAMASK wallet.
I will say I love how the smart contracts are setup to protect people from scam projects like Dinosaur Finance and how easy it is to get your money back that you deposited(this is why you harvest everyday). If you don't want to deal with a rug pull and are a simple long term farmer I recommend Polycat! It is a pretty popular , economically sustainable yield farm that has really good rates. Their vaults even auto-compound every minute! If you want to help me out, use my referral code down below for Polycat. Shout out the RugDoc for auditing farms like 24/7, I'm pretty sure the team doesn't sleep, and for providing MasterChef links for many farms!
https://polycat.finance/?ref=0k970n229P6r9p1SNR0Ns31942846n8p7s949568N0
*I’m not a certified financial planner/advisor nor a certified financial analyst nor an economist nor a CPA nor an accountant nor a lawyer. I’m not a finance professional through formal education. I’m a simple man who believes in investing for your future. The contents on this site are for informational and entertainment purposes only and does not constitute financial, accounting, or legal advice. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.*
