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Author Topic: The state of Yiled Farming and future  (Read 75 times)
Dragonfund
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September 17, 2020, 01:39:11 PM
Merited by nutildah (1)
 #1

The insane farming trend is yet to die and I ponder how long this fenzy will continue, It has become a norm in this field that investors don't do research like before, when they join new projects.
We want full decentralization just how Bitcoin began but not a project without whitepaper, remain anonymous that can harm investors by pulling out their usdt/ETH from pools. I wish the legacy of nakomoto wouldn't end in vain.
Just look at average transactions on ethereum, its killing dreams and petty investors. This would be difficult to convince a traditional investor to join cryptocurrency.
Smiling with profits and loss, only whales enjoyed the ride.

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Ratimov
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September 17, 2020, 05:09:49 PM
 #2

Yiled Farming is driving up gas prices. Transactions are getting very expensive. Of course, there is a downside to such a general trend in token farming. These are huge risks. And the smart contract is lame, there are constant bugs, the prices for tokens collapse by 100% per day.

I think Yiled Farming will continue to develop. It's just that the market is wild now, it's a novelty for everyone, most of them jump in a row, on the wave of hype.

Time will pass and many dummy projects will die out, as was the case with altcoins in 2018. Only the most suitable farming with honest APY will remain.

For example, Uniswap v2 has taken a step towards token swap. Previously, in order to change one token to another and throw it into the pool, you had to use an intermediate token, that is, you take, change token 1 to ETH, then take ETH and change it to token 2, then you drop it into the pool and stake. Therefore, you have a lot of transactions, they all consume gas.

Now, in order to exchange one token for another, you can use this option, where ETH is no longer involved as an intermediate exchange token and you immediately exchange one token for another. Jae if there is no pool in which input and output tokens are present simultaneously.

I think this technology will have a beneficial effect both on the farming of tokens and on the transaction fees, because they ate the lion's share of your rewards if you had a small initial deposit.

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September 17, 2020, 07:35:10 PM
 #3

The uncomfortable thing about this Yield farming is the drive of transaction fee to a very high level. To make this attractive a platform like uniswap exchange  distributed an airdrop that paid users up to  a 1000$. This I am sure will attract more users. I  am sure the high fee was what was distributed. So this fee I think will continue.

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September 17, 2020, 08:21:03 PM
 #4

I think of all those yield farming projects that are there right now only a handful will survive longer than a year.
I mean those who promise 300% + APY can't be sustainable very long. That just has to be kind of a ponzi scheme.
Plus as others already mentioned. They are the reason why Ethereum gasprices skyrocketed in the last weeks.

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September 17, 2020, 10:43:25 PM
 #5

My friends and I joke "Defi for the rich", at the moment the main defi projects are on the Ethereum blockchain, and people with small deposits have to pass by good projects, the launch of ETH 2.0 is still far away, i still hope for competitors EOS TRON BNB NEO - defi projects are also appearing there now.

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September 17, 2020, 11:08:34 PM
 #6

I think of all those yield farming projects that are there right now only a handful will survive longer than a year.
I mean those who promise 300% + APY can't be sustainable very long. That just has to be kind of a ponzi scheme.
Plus as others already mentioned. They are the reason why Ethereum gasprices skyrocketed in the last weeks.
Of course that kind of APY returns are not sustainable and even if billions are flowing in the market right now, sooner or later the hype will die down and it will collapse. I'm just imagining what it will bring to the whole ecosystem if that suddenly happens. That's one advantage of whales though, they have so much money that they can play the market around driving the price up at the same time, the first one to withdraw the profits. As for the gas price, we can't do anything about it unless Eth2.0 will resolved that issue.

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September 17, 2020, 11:39:46 PM
 #7

Don't worry, satoshi's legacy will not be ending bad just because of this. It's entirely different from the projects that are coming out and it won't be staining satoshi's reputation or its legacy.

Those yield farming that shows huge amount of interest or returns, looking at it will make you understand it quickly that it's better to avoid them. It's the reason why I'm not very much interested with this trend.

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September 18, 2020, 04:00:13 AM
 #8

The overly high profits from agricultural exploitation created opportunities for fraudulent projects, investors chased profits and quickly died against market resistance.
I think Yield farming projects will continue to exist in the future, but interest rates will drop and have more constraints.

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September 18, 2020, 04:58:14 AM
 #9

Only some days it's like that , yesterday it was I think it was because of UNI token and everyone wanted to sell it off so the ethereum network clogged, but now working ok , I know the fee of some transactions are high sometimes but they say they make it better in ETH 2.
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September 19, 2020, 04:41:12 PM
 #10

Nah, they don’t have anything to do with Bitcoin and Satoshi, if we are going to talk about any cryptocurrency that will be affected, it should be Vitalik's Ethereum, because that’s what created the opportunity for people to create whatever they want easily and call it smart contract.

Although I am not trying to say that the whole idea of creating the Ethereum network was wrong, it’s a pretty good idea, but as usual there will be the bad guys that are always trying to misuse every of thing they lay their hands on. DeFi is trending now, tomorrow the hype might be over and no one will be talking about it again.

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