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Exploring EVMOS Ecosystem: Farming on EvmoSwap

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Jahanzaib
@xabi
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Evening

I have been into EVMOS ecosystem even since I have claim the Evmos token airdrop 3 months ago. I have been staking Evmos into network validators ever since...claiming staking rewards daily and reinvesting them again. The strategy have worked pretty nicely so far and my Evmos stakes have grown by like 500%.

Despite a shaky start, dumping following the airdrop, and the recent market slump Evmos token have held its ground pretty nicely. I have his asperations for the Evmos and feel that it is going to have a nice recovery as the overall market look turns bullish. Hell, markets can't stay pinned down forever. Its a an ever going cycle of bulls and bears.

Last month I started exploring EVMOS ecosystem and defi apps built upon it. EvmoSwap, a DAO built upon EVMOS chain, intrigued me because of the aggressive APRs offered in their farms.

So, I put a small bit of liquidity($100) into EMO/USDC LP just to try things out, and things are going nicely so far. I haven't any incurred impermanent loss so far, in fact my LP position appreciated by like 16% and I have also been harvesting those aggressive farming rewards. So far I have earned 1015 EMO farming rewards worth $25, not a bad one month return for LP position worth just $100. The farming rewards of course are unlocked after one months in weekly vesting groups.

TLV across pools is still pretty low, hence the aggressive farming rewards. APRs are gonna go down certainly with more value flowing into the farms, but lets enjoys while it lasts. It is indeed very alluring and I am tempted to invest more. But since the project is still nascent and certain degree of risk prevails, I would take rather take a cautious approach i.e. get my initial investment back and than reinvest the farming rewards into the LPs.

You guys can also try some LP farming there on EvmoSwap, but I suggest don't go too big. The general rule of thumb applies here too; invest what you are prepared to lose.

Regards:)

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