Fortis Oeconomia (FOT) paying big time for now.
A few days ago, I posted about a project called Fortis Oeconomia, a new project built on top of the JUNO blockchain. At the time, I was posting in excitement about the impending Airdrop, for JUNO stakers. Anyway, after that post I realized that I am an idiot, and NGMI. The snapshot for the airdrop was during a period when I didn't have any staked JUNO (was shifting from pooling to staking) so I did not qualify for the airdrop.
At todays price, the airdrop is currently worth around $13,500. Down bad.
Anyway, enough of the pity-party, its my own fault.
Moving on, a decided that I don't want to miss all the fun, so I freed up around $500 worth of capital to have a play with $FOT. It is the most insane ponzified tokenomics, I think, but there is so much going on that I think I'll be able to retrieve my funds back pretty quick. There is also an airdrop for ATOM stakers that I will definitely get, so all is not lost.
My plan was to buy bFOT, stake it to gFOT and then sell half of the daily rewards, and compound the other half. That's all good, and has worked for two days now, but a new option has been added to the castle. This has complicated my plans, as I feel the need to get involved with this new "stablecoin" option also.
Introducing sFOT
sFOT is the next evolution in the FOT chain. Burn gFOT for sFOT. LP options for sFOT/UST or sFOT/bFOT with insanely high APRs.
Sometimes I think that only this guy would understand the FOT eco-system:
OK, so now I need to get into one of these LP's, to further boost rewards. So today, I forgo selling half the returns, to add to the LP instead. Moving forward, I will probably switch to sell 1/3rd of all rewards each day, add 1/3rd to gFOT staking, and add 1/3rd to the sFOT/bFOT pool. That's my plan.
The process.
Today, my gFOT rewards are 1.6844 FOT. I claim those, and then go back to the bFOT module.
Next I burn the FOT to bFOT - receive 16.844 bFOT.
Note, this Daily return is currently worth $100. Yes really.
I don't make that trade, as tempting as it is. Instead I go to gFOT module and burn half of the bFOT to gFOT.
I then go to the stable module and burn the gFOT I received, into sFOT. With this done, I hold almost 50 sFOT now.
I then hit the "Pools and Swaps" Tab, and navigate to the sFOT/bFOT pool.
I add max to the sFOT/bFOT pool.
Finally, I stake this LP position, so it's locked. Current reward rate for this pool is 30% return PER DAY. Totally insane.
Anyway, the gFOT staking pays out once a day. I think the LP rewards are also once a day, but at a different time. Once I get my first payout from the LP, I'll add it in to this post then.
I don't get it...
But I am here for it. Plan now is to cash out 1/3rd each day, stake 1/3rd as gFOT, add 1/3rd to the LP.
BRRRRRRRRRRRRRRRRRRRRRR!
Thanks for reading,
JK.
If you enjoyed this post, here are some more you may like: