When it comes to yield farms, everything's a ponzi. But there's nothing to say you can't make money off of ponzis. Case in point: If you see this link within the next 14 hours, you have the chance to make a lot of cash. After that, the opportunity is likely gone for good.
https://smonk.shrimp.capital/
As I write this, TVL on the platform is below $1M. That is the same kind of locap gem status that we give to tokens — the same thing is true for farms. TVL is to yield farm as mcap is to coin. If you catch something on the rise lower than $1M TVL, you can easily catch a 10X or possibly even a 100X depending on how far the marketing stretches.
I found out about the farm above quite early because I somehow got in on the initial token, Shrimp Capital. It did an initial 6X pump when nothing else was pumping and fell back down once the team put out the farm. This is normal because everyone switched out the base token to get the farming token and start earning the 5-digit APY.
If a project does something legit before it puts out its farm, you can put more faith in the farm. Shrimp helped to incubate another project, Cryptomancy, before coming out with a farm. If you don't have to worry about a new farm rugging, that's 95% of the battle right there. Nothing this new is for sure, but I went into the farm with more confidence because I know the team is trying to build on its micro VC idea.
My strategy for farms is always the same: 2X and pull initial capital out as quickly as possible. From there, everything is icing. I always calculate how long a 2X would take, and I compound as fast as possible until I get that 2X. Great thing about BSC — you can actually compound, unlike on fuckin Ethereum! I take the first pump if I get it, because a rise in the price of the shittoken is the best way to quickly ROI out of a yield farm.
Because the core token is down like 75% from its highs, I will use overage from the farm to buy the Shrimp token. This is like getting free share in the project at a low price for another pump down the line. If you don't believe in a project though, sell your divs off for BTC or ETH or whatever. Do so until you get tired or until the farm dies. Personally, once I ROI out of a farm, I squeeze it until it completely dies. I don't count the staked liquidity in my crypto net worth any more — it's just a token to earn me divs. This gains me the advantage of getting another pump if one happens. That's where you get your real gains from. That third and fourth pump don't come often, but when they do, whoo boy.
One more thing. Make sure a farm doesn't open with airdropped tokens. If a group of insiders gets an airdropped token to farm with, they won't value it and will sell everything. The farm will never pump and give you a chance to get out. The project also has no incentive to market outside of that inside group, because the farm is just a distribution methodology, not an expansion technique. Stay out of those.
Finally, no matter how legit a project is, its farms will eventually go dry. If a whale finds out about it, it'll go that much quicker. It's definitely a good idea to take a peek at the Etherscan or BSCscan of a token to see if the holdings are centralized. It doesn't matter if big token holders are legit investors or scam wallets from devs. If whales are concentrated at the top, you essentially face the same threat of a rug pull.
Finally finally, there is no substitute for protecting yourself in a farm than eyes on the prize. I do this full time, so I'll be watching this farm like a hawk. If the number for token distribution starts to go up insanely fast, I know that the team is about to rug, and I can quickly pull my liquidity before they do. You literally have seconds, so it's best to put your money in the staking pool, not the liquidity pools. I also skirt traditional advice here — I buy the native token to farm. I don't bring my valuable tokens to farm. If you're doing a new farm that you know you're going to pump and dump, would you rather lose a few shitcoins if you make a mistake, or your BTC-BNB pair from Pancake?
And there you have it — one of my secret methods for making money each and every day in crypto. Like I said, you've got about 14 hours from now, because the farm has been open about 10. If you don't make it within that time frame, don't get in no matter how good it looks. Wait on the next one and try to be early.
———
YOUR GUIDE TO MAKING MONEY IN CRYPTO STARTS HERE ---> Making Money in Crypto Part 1
Always remember:
Burgerswap Bridge will steal your crypto
Deus.Finance is led by a psychotic wannabe despot
AllianceBlock is a shit project
All algorithmic stablecoins (Basis Cash, Mithril, Empty Set Dollar) are a SCAM
Don’t get your bitcoin from PayPal
Trade on BSC, not Ethereum
Ivan on Tech, Elliotrades and Bitboy are complete liars, and
If you are always losing money trading crypto, read here.
Gems I'm investing in:
NFTs - Doki Doki
Trading - Unimex
Finance - Soar
