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Apes Skip Banks - Binance Smart Chain Degen Experiments

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@bagofincome
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A few years ago, I could not imagine the DeFi craziness that is happening right now. Hell, even a few weeks ago I thought that this is going to end very soon. Today, I think that DeFi and food coins are here to stay for a while. And if farming is trending, apes will farm anything that comes. The first wave of DeFi craziness happened on Uniswap and at that time, fees were low in comparison to what they are now. In November and early December, I could easily make a Uni transaction with a $5-10$ fee. Right now, it's almost impossible. And if you want to use a pool and approve your coins, you'll pay hundreds of dollars.

And people are looking for alternatives

In the last 24 hours, PancakeSwap has surpassed the volume of Uniswap and it's big! I wonder what is next to come and which chain will go along for the DeFi ride.

DefiStation

On defistation.io, you can check the total amount of value locked on the Binance Smart Chain. It has surpassed $10 billion and is growing with every single day. When you scroll down, you can find top projects and check all of them yourself. As you can see, there are only 35 projects there but that's not it. I guess they have many pending applications every single moment.

There is a lot going on and early investors have made an enormous amount of money. I can't imagine the numbers if we keep up a similar pace. It is crazy!

Other, High-Risk Projects

As for me, I started to search for new BSC projects that are risky but have big returns if things go right. I mean, if nobody rugs or mints additional tokens and shit like that. I'll talk about some that I have invested in. Thanks to low fees, I can risk a few dollars if the potential is huge. Remember that this is not financial advice and is just an experiment for you to observe.

Kimochi

kimochi.finance

This one is just a few days old but has already made the top-gainer list on coinmarketcap. I bought some of it for a dollar yesterday so my initial investment has tripled. I even added a liquidity to a Kimochi/bnb pool that had an APY of more than %50,000 at the moment.

When I bought it, there were a little over 300 holders. The count has almost doubled now. Here's a link to bscscan.com where you can check things yourself.

As for APY, it has now decreased to about 31,000% which is still huge! The more people join, the smaller it gets, I guess. And there's one more thing, when you take out your pool rewards, you only get 30% and the rest 70% are locked for a year. If the code is right, rug-pull isn't possible. The liquidity will only increase, especially with people like me who don't read this stuff because of FOMO. The rewards are still great and in less than 12 hours, I have made back my investment and cashed it out.


Hodlearn

I wrote an article about hodlearn the other day. Since then, more than hundred new hodlers have joined. As you read in the screenshot, all it takes to earn more HODL is hodl. There's a 3% fee that applies to every transaction and is split among the holders. I started this one buy buying about 20K HODL and today I have more than 30K. The total value of my hold has increased for about 25% right now but it was higher and I believe it will get back up.

hodlearn.net

Here's the link to bscscan.com where you can check things yourself. I often look at how many holders there are and who is buying the coin. So far, I have experienced zero rugs on my own skin but from what I am reading - there have been many! I guess at least a couple a day.


T

Extend Finance

This one is really similar to HODL but the addition is that some percentage of coins are burned forever. I bought this one yesterday and the price is about the same now. Maybe a little more.

dashboard

As for holder count, it's really big in comparison to others previous ones. A link to bscscan.


yPanda

This was my first degen play on BSC. I bought it in the first few days and made my initial investment back in a few hours. After that, the price started to fall and as I needed some money to buy other coins, I sold more yPanda but left some of it in my wallet, worth 2$ at the time.

yieldpanda.finance

Today I woke up to see that yPanda is doing wonderful and my 2 dollars have turned into 10! As you can see in the image, they got listed on CoinGecko and are rocketing! If I hadn't sold my yPanda's winnings, I would have made a lot more. But the good thing is, I'm now on other projects and my initial investments have returned.

If I'm not mistaken, there were only about 1000 holders when I bought yPanda. It's more than double now! Here's a link to bscscan.

Conclusion

If the project doesn't rug and the community is real, it's a great idea to keep some of the coins because who knows, maybe yPanda goes to a dollar. I wouldn't be mad about it because I am making money. As far as it continues, I'm good. The trend is now on NFT's and Binance Smart Chain. I think that in the coming months, new trends will appear, for example, Hathorswap which is already in the making.

Thank you for reading!

Remember that this is merely an experiment and not financial advice. Have a great day and enjoy the bull!


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