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0 pointsmonero-xmr3y ago0 comments

I make far more than $500 per month in cryptocurrency staking and various types of lending pools. For the curious it’s like a hobby that can make you a lot of money.

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leonhard3y ago

Can you elaborate? Which currencies and how do the lending pools work?

monero-xmrOP3y ago

For example Synthetix SNX is paying like 30% right now

https://staking.synthetix.io/

Then take the minted SUSD and put into Curve for 8%

https://optimism.curve.fi/factory/0

Then take the OP minted and put into XTK pool for another 60%

https://app.xtokenterminal.io/mining/pools/optimism/0xDa62d1...

This in general is known as yield farming

nanidin3y ago

How does the $500 compare to your assets at risk in these schemes? I.e. are you picking up pennies in front of a steamroller?

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NotYourLawyer3y ago

And it's risk-free!!

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j / k navigate · click thread line to collapse

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leonhard3y ago

Can you elaborate? Which currencies and how do the lending pools work?

monero-xmrOP3y ago

For example Synthetix SNX is paying like 30% right now

https://staking.synthetix.io/

Then take the minted SUSD and put into Curve for 8%

https://optimism.curve.fi/factory/0

Then take the OP minted and put into XTK pool for another 60%

https://app.xtokenterminal.io/mining/pools/optimism/0xDa62d1...

This in general is known as yield farming

nanidin3y ago

How does the $500 compare to your assets at risk in these schemes? I.e. are you picking up pennies in front of a steamroller?

1 more reply

NotYourLawyer3y ago

And it's risk-free!!

1 more reply

j / k navigate · click thread line to collapse