Many who follow my crypto investment posts know that I tend to look at safer defi ways to invest crypto however this does not mean I am not invested in degen products. In fact over on Fantom I have seen many projects that offer ridiculous APR % from hundreds to thousands percents. I have invested a little into some and most have actually turned out to be losses lol.
Tomb Forks
Those who do not know Tomb.finance was originally a failed project that got revived and is currently flourishing. It has gotten so successful that the protocol has close to $700 million TVL.
The jest of the platform is to provide liquidity of native token Fantom and a derivative created on Tomb.finance called Tomb as a pair, Fantom : Tomb, that in turn is publicly traded to earn yields. At peak I saw some where in the 400% APR but to date it is at 180% APR, still remarkable. There is more to the protocol but this is the best selling point for investors willing to lock up so much crypto on the platform.
Tomb Forks?
With the success comes copy cats. Over on:
you can see a consolidation of the oldest and newest kinds of forks that are similar to Tomb. The site is very neat and easy to use.
It has links acting as filters to separate the projects under specific blockchains. For Fantom there are 92 different projects that are forked of Tomb.finance being tracked on whatthefork. Ones that are rug pulled are marked red and labelled "RUG". While ones that fail the specific peg is marked red and a ratio under 1. Any green peg means the project is for now operating with profitability for investors.
It is fascinating to see all kinds of projects that are forks of Tomb. The website even lists launch date of projects. Some projects have yet to launch or post a date of when to launch would be labeled with "TBD".
Conclusions
If you are curious as to the hype of degen investments go over to the site
and look around. It will fill your heart with content on the options that are out there. Remember these projects are consider degen because Tomb originally was a degen project. Even though it is succeeding now it does not pave the road that it will remain successful and profitable in the future. There is a reason why it is called investments for degenerates. Have fun and stay safe.
None of what I write is financial advice. It is for entertainment purposes only. Thanks for reading!
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