Degen

$122 LP fees and 143k $DEGEN rewards in two days on the new @beefy pool. I like where this is going 🎩

THE Yield Optimizer. anon cyber punks making defi boring. 

gm. Fulltime degen, building fun stuff onchain. 
Master of Disaster Frogworks, /ottodao bullfrog, ex @astaria

I’m always scared of impermanent loss with LPs. How do you manage that?

Web3 marketer. Head of lots of stillborn, but cool projects. Blockchain for direct democracies. Hat stays on. Host of /shift

nothing you can do about it unfortunately. You can offset some by micro managing your position or using an ALM like beefy but long term you will always have some IL that can only be offset with large volume which generates fees or reward programs like degens

Thanks mate. So What’s the risk-benefit if I put, let’s say 1M degen and the equivalent in ETH on beefy?

beefy will make sure that your position stays roughly 50/50 so you should never go out of range, but of course you're taking the IL when the underlying tokens go up or down in value. rn the fee APY on this position is 50% which might not offset the IL but the 200% APY rewards can help with that. NFA ;)