Recently I came across an article about "hidden farms on BSC". A good article actually, and I love to read that guy, he's funny and often speaks out more than he himself probably thinks (I mean, philosophically, i.e. not like he often blabs out commercial secrets for free).
Anyway, the hidden BSC farms. I don't know why those farms are hidden because they're quite openly listed e.g. right here, along with a handful of similar shit.
I've already said several times that because of ETH price it's now hard to bake various cloned DeFi-ish shit on ETH. So the bakers moved to BSC where the costs are still in US cents. As you can see yourself, many of the "farms" in the above shitlist are Pancake clones. And considering low fees, their promised earnings look rather attractive.
Unfortunately, I'm not good at coding (and at blockchain coding, especially) and made just a few practical experiments, so everything that I say below is mostly speculation.
I see it in a pretty simple way. Some dev clones Pancake (both smart contracts and web interface) with some minor modifications and launches his SHT token farm. The dev puts the initial liquidity, people come, buy SHT and lock it in the pool too. SHT price goes up, "adoption" comes, the pool grows, everybody earns!
Basically, to earn from those SHT pools you must jump in early, buy some SHT (or put something in its LPs), wait until SHT goes pumped, and when it went pumped enough to cover fees and have some profit -- dump it on new "adopters" and jump out. Pretty much the only prerequisite of successful money-making with these cloned shit is that you have to dump it on "them" before "they" dump it on you.
Easier said than done, though. The "whales" (who're often the devs) may dump it on you. Even if they don't, the "opportunity window" is pretty narrow -- weeks at best, days probably, and sometimes even hours. It's necessary to jump in early, the longer hype (or adoption, if you will) goes the riskier these investments become. I suspect it's already late to jump in when a farm got listed in any shitlists (maybe that's why it's called hidden). There must be a way to find such farms before they got listed anywhere. May be in certain Discord or Telegram groups, or querying the BSC chain directly in DEXtools way. Those who're able to find such clones early and to avoid obvious scams can earn big.
Looks like HYIPs have got re-invented on BSC.
PS. I barely managed to finish this post and to lock like 2 bucks at ~16000% APY into a "hidden farm" (WallStreetSwap) from that shitlist -- as that farm went scam, together with my 2 bucks. Yes, literally. That shit got a "sponsored" listing on Feb 14, and the next day I put my 2 bucks in, and in a couple of hours the shit went bust.
Posted Using LeoFinance Beta