RE: RE: Change In PLAN - Invested in CAKE token - Invested $470+ At the Moment - Lets Explore...
You are viewing a single comment's thread from:

RE: Change In PLAN - Invested in CAKE token - Invested $470+ At the Moment - Lets Explore...

Words
186
Reading
1 min
Listen
Play
1d

untitled.gif

This post was manually upvoted at 100% voting power, by vipservice@vipservice, to support fellow Hive Punk holders (anyone with a Hive Punk PFP will receive free upvotes using surplus VP) and to encourage small content creators on Hive.

Ahh good times, I remember investing a ton into CAKE back in the day but the price had already run up so quickly and insiders were cashing in. I lost a lot of money farming that year in DeFi but it was fun while it lasted. At one point I was making over $200 per day in yields off Splinterlands farming Dark Energy Crystals during the 2020-2021 boom but when the price collapsed quickly and we were stuck holding a losing position after having reinvested all of the gains instead of cashing out.

My only advice is to be very cautious with DeFi yield farming schemes. They always end up falling apart one way or another. Its not sustainable long term in most cases but I see where you are going with this whole buyback and burn thing... it could just take many years to achieve anything meaningful.

@vipservice: This post was | Ecency