Price shoots up, you sell for strike price and earn interest. Price shoots down you keep your crypto and earn interest. Price shoots up or down you're not losing :)
Pretty much options, as you said it. If the price suddenly shoots up and you've bought a "put", you're losing money ( that's what happened to lots of people when the price suddenly hit 0.4, ofc if they were patient and bought back now that the price is low, they'll be fine but good luck with timing the market ) Same thing goes for the opposite way, if you buy a "call" and the price goes down, you're losing money. The profit is not worth it if you ask me.
Usdc and lrc di has been my most successful. By successful I mean I've made about $60 profit from where I started and the value of my account when I started using it. Got burned on wbtc a bit but recovered.
I've earned almost 1000 loops so far. It's tricky and you have to know how to play the game. Need to be cognizant of outcomes and when to invest back if you end up converting from token to usdc or vice versa. It is a lot of fun though and I've participated nearly everyday since it went live.
Be careful if price shoots up or down you lose.
Exactly. Lost 200 tokens on last run up to 40 cents. It's not much, but only because I didn't use as much as I could have.
I've definitely lost money even though it tells me I earned 500$....
Price shoots up, you sell for strike price and earn interest. Price shoots down you keep your crypto and earn interest. Price shoots up or down you're not losing :)
Yea people need to educate newbs on the risk of this.
I learnt my lesson on the last run up loool ill play with it but never invest ALL my money in it again
most fun with total earning 6 bucks lol
AMM pools are better in my opinion.
Ain’t doing it.
I don’t even know what these are. Is this something like a put or call?
Pretty much options, as you said it. If the price suddenly shoots up and you've bought a "put", you're losing money ( that's what happened to lots of people when the price suddenly hit 0.4, ofc if they were patient and bought back now that the price is low, they'll be fine but good luck with timing the market ) Same thing goes for the opposite way, if you buy a "call" and the price goes down, you're losing money. The profit is not worth it if you ask me.
I just wish I understood this
My profits from staking go from 19$ to 1.26$ to .06 to currently 4.19... Why is this? shouldn't profits remain the same?
Your rewards are doled out in coins but displayed in fiat.
$6.10 total earnings with atleast 5000LRC + 0.33 ETH.
You've made 6bux...fucking wow
Beware impermanent loss.
"Impermanent loss" is such a misleading term.
Completely legit apr
Lost 6500 LRC doing this! Beware!
A well deserved $6
Usdc and lrc di has been my most successful. By successful I mean I've made about $60 profit from where I started and the value of my account when I started using it. Got burned on wbtc a bit but recovered.
I've earned almost 1000 loops so far. It's tricky and you have to know how to play the game. Need to be cognizant of outcomes and when to invest back if you end up converting from token to usdc or vice versa. It is a lot of fun though and I've participated nearly everyday since it went live.
So laugh if you want but what is staking?
I honestly don't understand this, but it looks like just another way for those that control the price to extract money from foolhardy investors.
Be very careful about it. Be mindful aswell. Prices changes so quicklynand drastically all the time thats why i kinda left some of mine on ichi vaults