Bitcoin Forum

I know when you mine Bitcoin you get a fraction of a bitcoin curious what everything thinks of this new development:

Huobi Launches DeFi Mining Campaign Staking Huobi Token / HPT To Share the Reward of  Mining.

You stake HT then get Hot Defi tokens and you only need like 100 HT to participate interesting ideas.

Here is the full details if you want to take a look:

https://support.hbfile.net/hc/en-us/articles/900002483406 (https://support.hbfile.net/hc/en-us/articles/900002483406)

What do you think about the whole DEFI / Staking situation?

Defi staking is good, the only is how the way some project abused it by giving a crazy APY% like Sushi and AMPL Geyser and many more. This kind of over APY% is already a ponzi scheme. Yes you might get a high return on staking but the problem is the value of token itself. Due to many tokens added on supply from mining, the price of token dump tremendously and the interest you get on staking is not sufficient to cover losses.

But overall the idea of DeFi staking is good. The only problem was some project is abusing it just to create a short term hype on there project.

Agree this Huobi Token thing looks good and Huobi Token is pretty stable - IMO very low risk.

They are launching it today - if anyone wants to join I have a referral link - let me know.

An interesting idea  I would stake HT for DEFI tokens kinda reminds me of mining bitcoins but very much easier without any equipment.

The defi craze is a repeat of the ICO craze in 2017. It is impossible to determine which tokens are legitimate and which are not. It will end badly for most people.

Staking Huobi Token is very stable - you get free DEFI tokens for doing nothing - VERY VERY VERY low risk

It starts at 4pm so all you need is 100 HT or 1000 HPT . 

Huobi Token has been stable around 4 to 5 USD .

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https://support.hbfile.net/hc/en-us/articles/900002483406 (https://support.hbfile.net/hc/en-us/articles/900002483406)

Define the (scam) DeFi (https://bitcointalk.org/index.php?topic=5273078.msg55114472#msg55114472).

"Too good to be true" so it is not good actually. Only the early investors in DeFi and wise investors who invest in early days and have plan to cash out when price is high can get profits. They have clear plans to cash out and don't hesitate to wait for higher price to cash out.

The temp promised too high profits from farm/ yield DeFi tokens is the same as stake & masternode coins in the past. It did not last long. Believe me, you will see the price of DeFi tokens when they are active traded fall to lower and lower.

In stake, farm, yield, the rate of reward is important. You can check the advertisement on x10 rewards for early investors of SUSHI. It is a shitshow! Developer moved their tokens and dumped it is a terrible story. It is what we see but we don't know that developer buy some more tokens and farm in early blocks and cash out from anonymous address. We don't know and it is not strange if they do that.

Today, the block reward is still x10. Be cautious!


https://coinpedia.org/news/sushi-dumped-still-a-good-gain-option/

DeFi is about returns

But Huobi has a actual use case with Huobi Token so its actually a pretty good setup for this one


I agree sushi and other may be a scheme for top makers but this is a good deal imo.

Like a really good initiative By Huobi.
I love to do because the condition is only 100 HT.

When bear market shows up we'll see who survives in this type of market of hype. Those APY can't be earned on Stocks nor ForEx. We'll see more and more crybabies here or on social crying out loud they got rekt because of this DeFi thing. There will projects that remain but I think a little percentage of it I suppose.

I'd say moonbois gonna get rekt.

Yield HT to get ACH token is starting in 4 hrs - very excited if you need a referral link send me a message other you can just go to Huobi.com (http://Huobi.com)

The best part of all is there is NO GAS FEES - been crazy ripped off paying HIGH fees for ETH transactions it sucks!

I am done with paying all these for no reason ....

Defi is a fashion trend today.
Centralized exchanges have already begun to realize that decentralized trading exchanges are ready to compete and take a huge market share.
If you have free tokens, this will be an additional income.
But I'm not a supporter of staking on a centralized exchange :)

You must really like paying huge gas fees..

I am done paying huge fees to just get 400 to 1000 bucks of a token - its not worth it .

I trade on Huobi cuz its cheap - simple and easy - they have most of the DEFI tokens I want anyways.

I've come across Defi, but never looked into it before this. I believe a video by Antonopoulos (https://www.youtube.com/watch?v=RxrqNmv2tR0) is a good way to learn a bit about them. Decentralization of power over money sounds good in theory, but it seems that it involves high risk in practice. I'm talking about SushiSwap (https://www.coindesk.com/sushiswap-liquidation-weekend) whose founder cashed out the price fell. In general, I think I agree with odolvlobo that it's a new hype similar to that which used to be over ICOs. This means that some will profit, but many will lose. That being said, Huobi seems like a solid company, so the risks are probably low, but a $450 (at the current price and if I understood correctly) minimum to participate is huge, so I would not risk it. Not to mention that this way they encourage people who don't have their token to get a significant amount of it now.

I have no issue with this, it is just an exchange looking to make head way with the DEFI hype. The issue I have is that people are jumping on this, just like what Binance is doing, you can't have it both ways,if you want Centralization stay with it, if you want Decentralized system stay with DEFI and not all these hybrid they are proposing.

It has to be seen that what will be the returns and how it will work.
I was also reading the other day that binance is also introducing a centralized liquidity provider program which is like yield farming in uniswap but more details are awaited.
So looks like we need to compare these programs from these top 2 exchanges after lets say a few days or weeks.

IMO about this DeFi, DeFi and DeFi.

Still same, useless and not make a big change at all what's they offered always several percentage profit from the stake system. Nothing different with a few years ago when a hundred lending platform attacking cryptocurrency and exit scam all.

I'm not gonna put my money into DeFi.

there are several projects doing exactly like this already, the price of this defi token will decline for its easy to acquire. but the one strategy to make users hold the houbi tokens for a long time. this is much like what other exchanges had been doing already. even tron has a project like this such as SUN mining. this as far as i know is the reason why TRX rally previously.

With the come of CEX farming and that brings more guarantee to the farmers to get the defi coins without the need to do a lot of effort or gambling through the defi coins itself. Binance has also implemented this idea and it's the first CEX farming yield. I think that more and more exchange site will be coming very soon to implement this idea too.

This way is much better than the DEX farming yield as it was getting guaranteed by exchange site.

I just bought some YFI on Huobi.com (http://Huobi.com) and join the savings account for 8% easy peasy guys.

NO GAS fees best of all .

If you are  using uniswap or anything else send me the $20 - and i will send you the token lol

Why pay all these crazy fees - insanity

Liquidity mining is the cool new additions from the top exchanges first Binance did it and Huobi.


Exactly!! I agree with you completely here. I was part of crypto during the ICO-era and the projects were popping left right and in the end, almost 98% of projects failed to success and many were scam projects too.

Me also there when this Icos projects are completely crazy back then. A lot of peoples cry over the scam projects that they follow. Many write in here that they use life saving and end up being scam or loss their money due to the hype. We should be aware that anything that offer very high profit might be not last to long or too good to be true.