So I made my first trade on Uniswap today after reading somewhere (*cough* here) that the UNI airdrop was still going on and immediately regretted it. I needed some Nexo tokens because the Nexo wallet is where I chose to stake my BTC, however I've just learned that you can't get 8% APR on BTC anymore... The most an eager hodler can get at the moment appears to be 5% APR, and with my budget it's still just 4% anyway. Oh, well. You can still get dividends on your Nexo tokens and I did notice that one can deposit USDC and indeed obtain that cool 8% APR, so I've jumped on that. Shoutout to COINBASE for letting us withdraw and deposit USDC for free.
In case you're not familiar with Nexo Wallet, it appears to be a pretty safe place to stake a variety of assets with modest interest rates. Additionally, in the future, a Nexo MasterCard will be made available. I'm not at all interested in exchanging my imaginary gold for goods or services as of yet, but it's good to know that the option will be there whenever I might be interested in doing that.
I also added about $40USD worth of tokens to a liquidity pool on Uniswap today and, even though it is reassuring to see that number start to increase almost instantly, I doubt if I'll make enough to cover the transaction fees by the time the liquidity airdrop is over.
I guess I should be thankful that this mistake cost me less than $15 in transaction fees... And depending on how much I can score from Nexo dividends, it will probably balance itself out in a year or so ??
Anyway, moral of the story is:
If you're one of those people experiencing DeFi FOMO but don't have many thousands of dollars to play with, just take it from me and sit on your assets. You're not missing much.
