WyvernSwap Finance on Binance Smart Chain
WyvernSwap Finance has just started its staking and farming pools less than a day.
Its token went up as high as $25 but it is currently at a low price of less than $0.60.
Its current total supply is less than 10k and the dev team has been burning quite regularly.
The total supply would not shoot up as fast as other bsc farming pools as it is only generating 0.32 New Wyvern for each block.
With its low total supply, it is extremely easy for the price to be pumped actually.
As a start, the development team has removed the migrator code and added timelock to increase the trust in its pool.
It is currently waiting for the approval to be listed on Dapradar. The team is expecting the price to move up once Dapradar gives its approval.
It is indeed a risk like most BSC farms but high risk can give possible high reward with its attractive staking reward of 8693.52% for staking Wyvern.
It also has crazy high APY providing Wyvern-BUSD LP(40369.30%) and Wyvern-BNB LP(41406.97%) at the point of my post.
There is potential for the price of its token to be pumped easily but there is also a possibility for a great dump. There is definitely no definite for its success or failure.
One has to evaluate on our own as well as the level of risk that we can afford to take.
We should never invest in money that we cannot afford to lose regardless of how attractive the reward may be.
Disclaimer: This is my personal reflection and I am not in any position to instruct anyone what they should do. I am not responsible for any action taken as a result of this post. My post can only be a reference for your further research and growth. By reading this post, you acknowledge and accept that.