So about five weeks ago, twitter blew up with farming of
Yams and
Sushi and many other fruits and vegetables. As a skeptic, obviously I chose to ignore all the wonder, hype and complexity by simply watching from afar. Well that lasted about 10 days, and I saw the YFI token go from ~$4000 to ~$30,000.
I felt like I didn't want to miss out on this DeFi craze (and in retrospect it was a bit of greed to multiply my sats) so I decided to go for the new kid on the block -
$YFV. Where to buy it?
Uniswap v2 was trending on twitter as the new hot decentralized trading platform so decided to give it a try to get my hands on some $YFV. I put in about $100 into $YFV on Aug 30th @ $40 - this tx cost me $11 in gas fees. In the next two days I saw $YFV fly to ~$70, so on Sep 2nd I put in another $600 into $YFV @ $65.
This transaction cost me the most in gas I've ever paid on the Shithereum network @ ~$30 in gas fees. I was appalled but figured the $YFV rocket would make up for it. These are the only two transactions I've ever done on Uniswap.
So I'm $700 deep into $YFV, and she starts to change direction without any warning. Instead of going up, she starts to go down and continues to go down.
I'm watching it every day go lower and lower to ~$15. My $700 has become ~$180 - I think i've just thrown away a few hundred dollars and am kicking myself for being greedy and investing in yet another shitcoin (looads of sats lost to shitcoins with false promises over the years).
Today I see something about a Uniswap airdrop on Twitter and find my way to a Medium article with the details. They said if you used Uniswap before Sep 1st you are eligible for the airdrop. I wasn't sure so went back and checked the date of my $YFV purchase - and saw Aug 30th. Went over to Uniswap and logged in through Metamask and got a message saying to claim my 400 UNI - went ahead with that (about $3 in gas), and soon 400 UNI tokens were in my wallet with an approximate value of $1950. I was pleasantly surprised but know only too well that such things don't last long (anyone remember eBtc?). Quickly teleported my 400 UNI to binance and converted 390 for a cool ~0.18
BTC. I'm holding on to 10 UNI (just in case).
TDLR:
- Invested $700 in $YFV on August 30th.
- Ended up with ~10 $YFV, 10 $UNI and 0.18
BTC two & a half weeks later.
- Rather pleased with the way things turned out, however my opinion on shitcoins and this whole yield farming craze remains unchanged - extremely risky, prone to code flaws and vulnerabilities, prone to scammers, almost equivalent to throwing your money away.
Most people should stay away unless you are willing to accept a very high probably of losing money in a digital experiment.
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. I've received a $2 million dollar reward for this great project!
