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My Secret to Earning 763% APY On A Decentralized Exchange — and some capital loss
Important Disclaimer
TLDR — I have been super confident with crypto, earned a great % and equally blind to the huge risk of keeping my capital in a super volatile currency pair. I may have earned an APY when crypto prices were relatively less volatile and green, but with huge dumps and rug pulls of underlying assets I’ve lost a percentage of my liquidity. Ethereum project unfortunately comes with its huge risk due to it’s centralized nature relative to Bitcoin, as well as its L2s like Arbitrum having conflict of interest due to their massive team funds being unlocked next year, stay away and, stick to Bitcoin, or thread extremely carefully.
Having started with a big disclaimer, let’s delve into the innovative nature of DeFi ecosystem in Ethereum
What is DeFi?
DeFi stands for Decentralized Finance, which refers to a new and rapidly growing financial system built on public blockchains, where financial transactions and applications can be created and accessed without the need for traditional financial intermediaries such as banks, brokerages, and exchanges.
What is a DEX?
Decentralized exchanges (DEXs) are a type of DeFi application that allows users to…
