My 90000% APY Experiment
I have been looking for high yield farms for quite some time and that is when I found about Olympus DAO which was giving a whopping 8000 percent APY which was insane to hear, but it was on the Ethereum Network and the fess of that network makes me always stay away from them. I will make a post about Ethereum Fees but today I will be talking about Wonderland which is on the Avalanche Network and this Defi is giving out approximately 90000 percent APY and it is just bonkers.
As I said in my title this is just an experiment for me now so I have invested just over 200 USD and have already started Staking my TIME and as you can see it shows that my 5 Day ROI is just sight of 10 percent which also means that I should be doubling up my Money around the 28-day mark which would be pretty sweet if that comes to fruition. There is also a lot of skepticism going around for Wonderland Defi but putting a small chunk of money might not hurt. If it goes to the moon then good for me if not then I guess I lose some money that I was willing to bet.
MY PLAN
My plan here is to get to the 28-day mark and take out my Seed Money which is the Initial 200 USD I put into Wonderland and then I keep my Profits in and let it compound. If I get some insane return then it is good and if not then I guess all I lose is the profit I initially made and not my Seed Money.
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Nice plan, this is second time I'm reading this projects but let see how it goes
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I will keep ou guys notified every 10-15 days
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Is there risk of impermanent loss (IL), or is it just one-sided staking? I'm always cautious to recommend providing liquidity due to the risk of IL.
It is simple one-sided Staking so no Impermanent Loss. In two days I have already made a 10 USD profit but I will only withdraw once I reach the 28-day mark which is when my Money Doubles up.
FYI I only invested 200 USD.
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No bro it's just One-Sided Staking and there is no IL.
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