How to earn 9-10% APY using USDT and a simple strategy

[a.buharin]

Hi everyone! We are creating audits and strategies for different protocols. We specialize in strategies with low risk and average APY.

Check out the first strategy here https://medium.com/eonian-finance/the-ultimate-guide-to-leveraged-yield-farming-a31d206b43c6

Send these platforms in the comments if you want to get strategies for other platforms.

[1715501662]

1715501662

[1715501662]

1715501662

[cryptoaddictchie]

Hi everyone! We are creating audits and strategies for different protocols. We specialize in strategies with low risk and average APY.

Check out the first strategy here https://medium.com/eonian-finance/the-ultimate-guide-to-leveraged-yield-farming-a31d206b43c6

Send these platforms in the comments if you want to get strategies for other platforms.

Evem though strategy has a very enticing offer. It is not guaranteed of a succesful outcome or consistent percentage of profit by means of apr. It is gonna go down as many will stake on the project leaving apr down until its not usable anymore on the system. Ive seen a lot failed many times and this is not a perfect scheme we can always trust.

[bittraffic]

How can this be low risk when it asks for users to deposit coins?

Crypto was rocked by FTX scam where people kept thier assets on exchanges. You have to be so dumb to not learn from the massive fraud happening this year to deposit to centralized Eonian.  We are already avoiding CEX, holders are already getting out of the exchanges to hold or stake coins in the wallets they own. You couldn't expect any new projects this time to do something good.

[Flexystar]

I am not sure how good these offers are after the market is crashed and since it is the time to buy more liquid coins rather than putting everything locked up. I mean there may be time when we will need to sell and rebuy and repeat these cycles to achieve good profitability along the way so locking up for such high period looks off right now. My view is not negative but I am thinking about various factors at the same time whole thinking about the staking based method of earning profits that too in the bearish market.

[uneng]

The strategy is very well explained and includes pictures for better understanding of the public. Congratulations for taking your time sharing knowledge with crypto community!

Although theoretically it looks an interesting executable concept, it's not simple on the reality. Of course there is a catch behind all of this, otherwise the platform itself could do all the steps and offer 9%-10% APY on USDT lending to investors.

However, they offer only 3%. If you want to persue more interest you have to risk yourself with the called BANANAcoin and that is the catchy part, I think.

There are serious risks of losing money with this strategy because BANANAcoin isn't an altcoin you can trust for the long term. Imagine if it heavily devaluates during your investment. It would be the end.

[LeoVS09]

Evem though strategy has a very enticing offer. It is not guaranteed of a succesful outcome or consistent percentage of profit by means of apr. It is gonna go down as many will stake on the project leaving apr down until its not usable anymore on the system. Ive seen a lot failed many times and this is not a perfect scheme we can always trust.

Hi, I wrote this article on medium.

You are right, this strategy does not guarantee stable profit and it will go down if the amount of users grows. But there few important points to consider. Any DeFi protocol while increasing liquidity providers' user base decreasing APY, it is normal. It is why you need to search for new protocols when the old is growing too much. This rule work with any DeFi strategy. In this exact case, we were explaining one such strategy, which will work with any Compound-like protocol. When it stops producing good APY on ApeSwap, you can move your money to the next protocol.

We researched it for our yield farm, in the position where we will continuously research new protocols for users who deposited tokens in our dApp, but you can do the same work by yourself. If you do it by yourself, you just need to monitor protocol APY, and you will get a successful profit.

[LeoVS09]

How can this be low risk when it asks for users to deposit coins?

Crypto was rocked by FTX scam where people kept thier assets on exchanges. You have to be so dumb to not learn from the massive fraud happening this year to deposit to centralized Eonian.  We are already avoiding CEX, holders are already getting out of the exchanges to hold or stake coins in the wallets they own. You couldn't expect any new projects this time to do something good.

Very strange reaction... Why do you think Eonian is centralized? We are building Eonian - a decentralized yield farm. It is purely a smart contract protocol where you can check the code and see that no one except you has access to your money.

For me personally very heartbreaking to see such a position  . We spend months researching all possible hacks and vulnerabilities in smart contract protocols, then designing them in a way that prevents anyone from stealing users' money, multiples times reviewing each line of code and cannot normally sleep while thinking what else can be done to save users which will trust us. We have already half a year postponing the release to implement all SecOps practices while spending personal money on development. I personally spend a month on an independent audit of ApeSwap (proof link: https://leovs09.notion.site/ApeSwap-Lending-Audit-Report-2c499edcbf0b432dbd94424268cf3a88) to only be sure, that if we will use this strategy we not will lose users money.

And then I heard that FTX was making whole money management in messenger, and thousands of users were trusting them millions of money . And now you are saying that because of FTX, our project is also bad!

[LeoVS09]

I am not sure how good these offers are after the market is crashed and since it is the time to buy more liquid coins rather than putting everything locked up. I mean there may be time when we will need to sell and rebuy and repeat these cycles to achieve good profitability along the way so locking up for such high period looks off right now. My view is not negative but I am thinking about various factors at the same time whole thinking about the staking based method of earning profits that too in the bearish market.

You correctly pointed to the main disadvantage of this strategy. I can say only that when I tested this strategy at the end of summer, BANANA token was falling the whole time, but it still generated high rewards. I deposited USDT in August and then claimed and sold BANANA only in October. I expected APY to be around 10% in the best conditions, but it generated 2.69% in two months. That in a year can be 2.69% * 6 = 16.14%. Previous profits, of course not a guarantee of future profits, but it still looks like a good strategy even in these conditions.

[Jating]

How can this be low risk when it asks for users to deposit coins?

Crypto was rocked by FTX scam where people kept thier assets on exchanges. You have to be so dumb to not learn from the massive fraud happening this year to deposit to centralized Eonian.  We are already avoiding CEX, holders are already getting out of the exchanges to hold or stake coins in the wallets they own. You couldn't expect any new projects this time to do something good.

Very strange reaction... Why do you think Eonian is centralized? We are building Eonian - a decentralized yield farm. It is purely a smart contract protocol where you can check the code and see that no one except you has access to your money.

For me personally very heartbreaking to see such a position  . We spend months researching all possible hacks and vulnerabilities in smart contract protocols, then designing them in a way that prevents anyone from stealing users' money, multiples times reviewing each line of code and cannot normally sleep while thinking what else can be done to save users which will trust us. We have already half a year postponing the release to implement all SecOps practices while spending personal money on development. I personally spend a month on an independent audit of ApeSwap (proof link: https://leovs09.notion.site/ApeSwap-Lending-Audit-Report-2c499edcbf0b432dbd94424268cf3a88) to only be sure, that if we will use this strategy we not will lose users money.

And then I heard that FTX was making whole money management in messenger, and thousands of users were trusting them millions of money . And now you are saying that because of FTX, our project is also bad!

It's good that you have done your part, researching about the possible hacks because this is the first time that comes to my mind.

And hopefully this is not just a one done part, I mean you also need someone to monitor everything in a 24x7 basis? just to make sure that everything is running smoothly and if by chance there is a exploit in your system, you can simply react on it real time.

Also, need to be very active in looking for loopholes in your system. As obviously, hackers are smart and doing this as well. That's why it's better that you are one step ahead of the game, just saying.

[crzy]

The strategy looks good but there’s still a risk for this one especially many are still afraid to take such risk after what happened to FTX. The best strategy right now is to be more liquid and staking might be risky as of the moment. Anyway, will try to understand more about this strategy and maybe I follow this in the future once I see a good opportunity again.

[LeoVS09]

The strategy is very well explained and includes pictures for better understanding of the public. Congratulations for taking your time sharing knowledge with crypto community!

Although theoretically it looks an interesting executable concept, it's not simple on the reality. Of course there is a catch behind all of this, otherwise the platform itself could do all the steps and offer 9%-10% APY on USDT lending to investors.

However, they offer only 3%. If you want to persue more interest you have to risk yourself with the called BANANAcoin and that is the catchy part, I think.

There are serious risks of losing money with this strategy because BANANAcoin isn't an altcoin you can trust for the long term. Imagine if it heavily devaluates during your investment. It would be the end.

Thank you for the feedback! For me, the author of this article is very pleasant to hear it  

The platforms are mainly not doing such a strategy by themselves because this strategy slowly declines the price of the token. if ApeSwap does it by itself, it will require them to sell their own token continuously while minting it. Of course, it is not in their interest.

You are right about risk, but I wouldn't name it a serious risk because the interest you pay is rarely more than 10% in a year. And when you see that your profit is too low, you can withdraw your money. You probably will have at least a month to react before any noticeable losses occur. Also, if you often enough sell BANAN, even high devaluates will not be a big problem. ApeSwap like and Compound pay their reward based on USD equivalent, which means if BANANA falls, you just receive more tokens.

But in general, of course, you are right, and I strongly recommend anyone consider if he is ready for such risks before investing.

[LeoVS09]

How can this be low risk when it asks for users to deposit coins?

Crypto was rocked by FTX scam where people kept thier assets on exchanges. You have to be so dumb to not learn from the massive fraud happening this year to deposit to centralized Eonian.  We are already avoiding CEX, holders are already getting out of the exchanges to hold or stake coins in the wallets they own. You couldn't expect any new projects this time to do something good.

Very strange reaction... Why do you think Eonian is centralized? We are building Eonian - a decentralized yield farm. It is purely a smart contract protocol where you can check the code and see that no one except you has access to your money.

For me personally very heartbreaking to see such a position  . We spend months researching all possible hacks and vulnerabilities in smart contract protocols, then designing them in a way that prevents anyone from stealing users' money, multiples times reviewing each line of code and cannot normally sleep while thinking what else can be done to save users which will trust us. We have already half a year postponing the release to implement all SecOps practices while spending personal money on development. I personally spend a month on an independent audit of ApeSwap (proof link: https://leovs09.notion.site/ApeSwap-Lending-Audit-Report-2c499edcbf0b432dbd94424268cf3a88) to only be sure, that if we will use this strategy we not will lose users money.

And then I heard that FTX was making whole money management in messenger, and thousands of users were trusting them millions of money . And now you are saying that because of FTX, our project is also bad!

It's good that you have done your part, researching about the possible hacks because this is the first time that comes to my mind.

And hopefully this is not just a one done part, I mean you also need someone to monitor everything in a 24x7 basis? just to make sure that everything is running smoothly and if by chance there is a exploit in your system, you can simply react on it real time.

Also, need to be very active in looking for loopholes in your system. As obviously, hackers are smart and doing this as well. That's why it's better that you are one step ahead of the game, just saying.

Yes, you are right about monitoring. It is a part of the SecOps practices that we implement. We, on one side, monitor new hacks in DeFi, to react to new exploits, and on another side, will monitor money movements in our smart contracts to react if someone finds any breach in our code or code of protocols on which our strategies are dependent. We are also trying to set up a bug bounty program to incentivize ethical hackers to check our code.

[Baofeng]

How can this be low risk when it asks for users to deposit coins?

Crypto was rocked by FTX scam where people kept thier assets on exchanges. You have to be so dumb to not learn from the massive fraud happening this year to deposit to centralized Eonian.  We are already avoiding CEX, holders are already getting out of the exchanges to hold or stake coins in the wallets they own. You couldn't expect any new projects this time to do something good.

Very strange reaction... Why do you think Eonian is centralized? We are building Eonian - a decentralized yield farm. It is purely a smart contract protocol where you can check the code and see that no one except you has access to your money.

For me personally very heartbreaking to see such a position  . We spend months researching all possible hacks and vulnerabilities in smart contract protocols, then designing them in a way that prevents anyone from stealing users' money, multiples times reviewing each line of code and cannot normally sleep while thinking what else can be done to save users which will trust us. We have already half a year postponing the release to implement all SecOps practices while spending personal money on development. I personally spend a month on an independent audit of ApeSwap (proof link: https://leovs09.notion.site/ApeSwap-Lending-Audit-Report-2c499edcbf0b432dbd94424268cf3a88) to only be sure, that if we will use this strategy we not will lose users money.

And then I heard that FTX was making whole money management in messenger, and thousands of users were trusting them millions of money . And now you are saying that because of FTX, our project is also bad!

It's good that you have done your part, researching about the possible hacks because this is the first time that comes to my mind.

And hopefully this is not just a one done part, I mean you also need someone to monitor everything in a 24x7 basis? just to make sure that everything is running smoothly and if by chance there is a exploit in your system, you can simply react on it real time.

Also, need to be very active in looking for loopholes in your system. As obviously, hackers are smart and doing this as well. That's why it's better that you are one step ahead of the game, just saying.

Yes, you are right about monitoring. It is a part of the SecOps practices that we implement. We, on one side, monitor new hacks in DeFi, to react to new exploits, and on another side, will monitor money movements in our smart contracts to react if someone finds any breach in our code or code of protocols on which our strategies are dependent. We are also trying to set up a bug bounty program to incentivize ethical hackers to check our code.

Good, I like the bug bounty thingy, to compensate those bug hunters and incentivize them. At least you are giving them positive feedback instead when they found out some exploits in your system.

I like the SecOps practice as well and every project should implement this as well.

I'm still reading the articles though, and try to see if this is a 'realistic' approach. I know that this has been done before and could be the norm. But I'm looking at the APY, if it is practical approach as far as profits goes.

[jossiel]

9%-10% of interest rate APY is reasonable and that's like the normal rates. But it's starting to make me worry about things when FTX has fallen and other companies that has relative service for giving interest to the deposits on their platform closed down.

The logic of earning from these interest rates is having huge deposits so that you'll also earn bigger from it. But with turn of events right now in the sphere, it's worrisome that they might collapse or file for bankruptcy while your deposits are still with them.

[Jawhead999]

We specialize in strategies with low risk and average APY.

There's no such low risk and average APY, anything that you stake or invest on centralized entity where you don't have full control over your coins has a same risk regardless how small, big, popular, not popular of the sites! You must check there's many popular and big entity collapsed after CZ drama, I never think staking is a wise idea since you're risking anything to get few % interest only.

Only stick with decentralized currency and hold it on your own non custodial wallet.

[cryptoaddictchie]

We researched it for our yield farm, in the position where we will continuously research new protocols for users who deposited tokens in our dApp, but you can do the same work by yourself. If you do it by yourself, you just need to monitor protocol APY, and you will get a successful profit.

Ive seen a lot of protocol too but this always end up being low and sometime failed due to the existing fact that apy cant be consistent due to massive users base. There are some who thought and create a way to rebalance this but Im not sure if they have been succesful on pulling off the idea for it. Somehow, its really sounds like a ponzi scheme and those who enter first will deifnitely ripped all the high gains.

[hd49728]

I won't open my account on any DeFi platform and send my coin including USDT there to earn APY.

If a desired rate is about 10%, I would wait a few months for a market crash to buy and enjoy its bounce. After falling 20% or 30%, altcoins will bounce back 10% at least and it is enough for my target profit rate.

I will pick top altcoins like Ethereum or BNB, not pick DeFi or NFT tokens because with those tokens, I don't know will they crash more like LUNA, UST or FTT or will bounce back. Ethereum and BNB are safer choices for me.

[jrrsparkles]

Staking offers upto 8% to 10% for certain limits so why do someone have to take risk by investing such low returns on a new platform?

However the trust level among the users on holding their crypto assets on any other wallets apart from their own reduced a lot so this is not really the best time for the promotion.

[Strongkored]

I think in this thread Op asked how to get 9-10% APY using USDT but apparently explained how through his blog, but I've done it on waves dex, the range of APY is not too different, but everything in crypto there is no lessrisk because everything will be proportional to the capital at risk with the profits to be gained, but with several events that have occurred in DeFi, is there still a lot of demand? I think now is the time to be more realistic and not tempted by the lure of profits.

[Yogee]

....
Very strange reaction... Why do you think Eonian is centralized? We are building Eonian - a decentralized yield farm. It is purely a smart contract protocol where you can check the code and see that no one except you has access to your money.

Kudos for trying everything to ensure security of funds but let's not say that smart contracts on Ethereum or other networks such as BSC and Solana are completely decentralized. There are still elements of centralization and we have seen it many times when operations are halted every time one of these yield farming platforms are exploited.