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Testing out Adamant Finance (Cautiously)

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@revisesociology
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2 min read

I decided to try out Adamant Finance on Polygon a couple of weeks ago, on the not-financial advice of @dalz in this post.

I was mainly looking to see if there were any better returns to be had on the stable coins I had staked on Aave, not that there's anything too bad about the 10% return I've been earning there!

On sorting the Adamant stable pools by order I was attracted to the impressive returns on the USDC - UST pool, especially as I've been thinking about picking up some UST.

However I'd never heard of gravity or bootstable before so decided to steer clear for now and instead opted for a pool on ApeSwap, which I am familiar with and has been around for what seems like an age in the DEFI Space.

The return isn't quite as good, currently only 16% but it's better than the 10% I'm earning on Aave, and I'm quite happy to let it sit here for a while.

I quite like the look of Adamant - it auto-compounds the stables and then I have to manually Harvest my Addy.

And there's an airdrop coming up for Addy stakers so I might just put in some more funds today and make sure I harvest and stake my Addy to the appropriate place to qualify for that. Now my funds have been sitting there for a couple of weeks and it all seems safe, I'm happy enough to move some more over, probably just to the same pool!

I'm not about to pile in huge amounts ATM - I'm saving everything I've got for Chaos Legion ATM, but once that's done, I may move more funds over, depending on how sustainable the platform is, that's something I need to dig a bit deeper in to.

NB - Adamant is exclusively on Polygon, and one of the joys of this network is the super low low fees so you can unstake and swap between pools for very low fees, the only thing to be aware of is any deposit fees or penalties you may get slapped with when you withdraw on the platforms themselves, so watch out for those!

Posted Using LeoFinance Beta