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Jacek.degen.eth 🎩 pfp
Jacek.degen.eth 🎩
@jacek
Gn degens 🎩 Nice APY on @beefy today for $DEGEN LPs. Please don’t ape in blindly—read up on impermanent loss first. It’s not free money. If you know the risks, it could be worth a look.
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Ramsey 🎩🤝 pfp
Ramsey 🎩🤝
@ramsey
Yup. IL is a bitch. Aped in at Degen being 0.0026. Tried to withdraw yesterday, which would make me be in profit roughly 50-60k Degen. I could not withdraw until things cool down. Withdrew today, at roughly even steven (counting the bonus rewards, of course). Stay safe, people.
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Alemac pfp
Alemac
@alemac
did you try to withdraw in eth?
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Ramsey 🎩🤝 pfp
Ramsey 🎩🤝
@ramsey
Would be the same. At Degen being 0.0033, It was roughly 1:2 Degen ETH ratio in the pool (roughly 500k Degen and 2 ETH). Withdrawing in either would bring about the same dollar amount, coming to 1.6M Degen. I started with (a single position of 1.7M). And got around 100k Degen during the 20 days I was in the LP.
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Alemac pfp
Alemac
@alemac
I need to check it, but I think I am in profit… 👀
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Ramsey 🎩🤝 pfp
Ramsey 🎩🤝
@ramsey
you can't know until you check it. e.g. a few days ago, with Degen at 0.002-0.0021, if I withdrew everything to Degen, it would be 1.8M. yesterday morning (EU time) with Degen at 0.0026, I "acted" like withdrawing, just to see what would be the amount. It was roughly 1.68M. With rewards I got, I would be in (Degen) profit. Did the same when Degen pumped to 0.0028, and it could not be calculated, and I could not withdraw (beefy does not allow withdraw until high volatility cools down. Weird, but it is what it is). I think I would be at 1.65-1.66M. Again, still good. Today at 0.0033, I withdrew. I could not risk it taking the f off, as I held this amount for months now, and didn't want to risk it for a few k Degen daily. It was exactly 1.6M. I'm still net zero, but that's counting the rewards. Also, that's definitely not 180-200% APY (I got around 6k degen daily from boosted rewards, the tradding fees APY autocompound).
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