Spent $100 to try crypto staking via UST/LUNA

First of all, 19.49% APY??? My bank could never. So when a friend told me about this, I was def intrigued.

The process is a little tricky, I’ll have to write out a separate post for that but I also feel like so many resources are out there telling you how to do it. The bottom line is, the $100 I deposited really only ended up becoming $90 by the time I’ve gone through different platforms. All the fees etc, plus having to leave some UST in there for fees when you need to withdraw. Boo.

BUT the important question is, DOES IT REALLY YIELD 19%?

And the answer is YES. So far.

Here’s a look at the interest:

I deposited back in December 5 and I’ve earned 1.41UST or also equivalent to 1.41USD so far (because stablecoin). So I’m on track and it works… FOR NOW.

Should I trust this platform enough to put in more money? Unsure.

Would you be willing to try this yourself after reading this? My guess is, with all the research/time needed, you’d only really do it if you’re already interested in crypto.

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I sure would, and have only been sidetracked by the NFT spree - your response on my other thread about trading mis-priced NFTs .

Your post is very timely for me - thank you. What you have done fits somewhere in between my sh__coin strategy and my income strategy, so I will invest a sh__coin’s worth of crypto funds (less than 1% of our portfolio) into one or two of these. I will not be using the stablecoin version with yield circa 20% APY but most likely the OHM variant first (at around 6,000% APY, and if I can manage that tortuous circuit of process, I may follow that up with a second sh__coin batch of another 1% into Wonderland (TIME) whose headline rate of interest is about 75,000% APY.

I think I understand all the ins and outs of this. It is similar to what I did in DeFi Kingdoms by placing the Liquidity Pair in the Gardens (Jewel / One LP). That started off (Epoch 11 for me) at about 1,200% APY and is now in Epoch 16 with approximate APY% being around the 500% mark this week. I have “kind of got used” to earning about 1% per day on the LP, which along with the price action of Jewel has made it a memorable experience. I am fully expecting Jewel to have a major retracement after the huge bull run over the holidays, but even if Jewel or One had not moved from their mid November price, the APY has been real, with now 2/3 of your LP value needing to be locked until July 2022, then can be withdrawn linearly over the next 52 weeks. I am very comfortable with that and will be looking to “rinse and repeat” with far less funds, but with headline stupid interest rates and the open admission that these are ponzi schemes.

Another such scheme I have just been reviewing is the Alchemix.fi. In my younger days before the Euro I used to try to practice a scheme referred to as a “self-amortising loan”. Anybody over 60 on here will likely remember that the Japanese carry trade was far more frequent with far more currencies before the “invention” of the Euro. The concept is quite easy - you borrow money at a low interest rate and arbitrage that into an investment in a currency with a much higher interest rate. At that time, recalling real rates, you could earn 12% a year on USD deposits, 12% per year on GBP deposits and about 2% deposit rates for JPY. So the Asians were borrowing Yen, putting their funds on deposit in Swiss banks earning 10% per year on GBP, but then being allowed to trade 5X on margin. So $200,000 worth of Yen at 2% interest rate could control 5X or $1M worth of GBP denominated deposit, at 12% per year. In theory that was a self-amortizing loan that should have paid off in about 7 years. But you did need to understand the risk of fluctuating rates, so a little like Forex trading on margin, you could lose out pretty quickly.

I think this same concept in 2022 with the growth of DAOs, DEXs and LP investment has similar merit to the original self-amortising loans and the little cogs in my head are doing a lot of overtime this week thinking about investment segregation, risk mitigation or transfer. Nothing illegal, of course, just a new coat of paint on an already established idea.

HAHAHA OMG I HAVE THIS TOO. Planning on writing a separate thread for that one. :sweat_smile:

Ok I’m going to look this one up.

Including rug pulls lol.

Actually maybe I should just put all my experimental stuff in one thread. :thinking:

I looked up Celsius for UK customers, sadly I don’t think they work there. :frowning: Not sure if you have a Celsius-like product in the UK.


Please do. I think this crypto space on Babypips will expand about as fast as the crypto market has. Maybe we need new sections - I will ask one of the mods by DM.

Not many people here talk about crypto though. Would like other conversations here about staking or even play to earn stuff but I feel like it’s just us and a few others. I think crypto here is still kind of looked down upon…

RE: Celsius, I ask because I was thinking of putting btc there and then borrowing against it and using borrowed stablecoin or whatever to stake it. But then with the tiny LTV I was planning on using, maybe it’s not worth it lol.

The US government and in particular the SEC has taken a lot of flack last year from the public, but their stance (and that of the UK financial regulatory authorities) is understandable. How many decision makers in these organisations are under 30? Under 40? Not many, for sure.

Now there is nothing wrong with age, but society is changing at an accelerating rate, and those responsible for decisions should understand that stifling innovation never ends well. More and more I listen to people under 30, and less so to those of my age, because I think that over 90% of those my age do not know or care what happens when they have popped their clogs.

Unless western governments want the wrath of some of their more extreme citizens to cause a potential civil war, they can’t put the genie back in the bottle and admit that “the ordinary citizen” has been “sheepled to death” within our modern education system. They still think and advise our younger generation to “get a good education and get a good job”. Web 3.0 and its associated leverage technologies such as 5G for driver-less cars, automated delivery services and other innovations as yet unknown will present us with more and more opportunities to have multiple sources of income. I just hope that our own government will not curtail by law what is actually happening globally. They will have to learn to work with Web 3.0 organisations not against them.

It is clear to me that the future on this industry is going to be governed in ways that align with developed country’s ideas of what good governance looks like, and from there some clever folks will issue insurance policies that protect the individual from investing in any instrument that has not had a governance audit, and can prove that in all instances, the “end use investor” has protection. This is effectively what the global insurance industry (and it’s dependent Re-insurance industry) is built upon, and it is a golden opportunity for that industry to reinvent itself. For now though, any funds I did and in future will commit to activities such as Forex trading, or any new service such as leveraged DEX, or NFT and the like will be done so with my eyes wide open. Nobody is going to pay you 8,000% interest, let alone 80,000% interest without there being risk of catastrophic loss.

I look at these opportunities in the same manner as I have embraced my sh__coin strategy. And as a matter of principle, I am going to change the description in 2022 of this element of our trading plan, and perhaps rename it to the “three zeros” investment strategy. Three zeros because for a potential opportunity to fit into that category of investment (or trading depending on timeframe), it would have to satisfy one of three critera. Can it 10X, can it 100X or can it 1,000X.

Just as an example, if someone is telling me that I can be the beneficial recipient of doubling my money every month, I need to decide (with historical backtest data of possible) how often is such an investment likely to encounter a catastrophic failure (eg a currency tethered to the USD falls below xx% of its nominal 1:1 ratio). If I determine the risk is one month per 10, but the reward is 100% per month, I could afford one catastrophic event in one year, and so “plan to lose money” once in 12 times. That would be the equivalent of a 11X (rounding it out, a “ten bagger”, and how often in trading the primary pairs does that happen?

Using our Forex education and knowledge that it is inevitable that some trades will fail will help us do a formal reward/risk assessment. The only thing that is missing or incomplete is historical data for analysis.

Just writing this has cemented this idea in my mind to be able to go to the next step of formally writing how my plan actions are going to achieve this objective. Magic. Thanks for your interest in this subject. I feel that many of our members are so caught up in learning what everyone else does that they do not give themselves time for original thought from which a strict planning process would give you a far better chance of success than “following the crowd”

This right here is v important to remember. Also why I only put small amounts of $ at a time.

I can see the skepticism but I think this is largely due to it being new. People don’t like change. I don’t either but if I stand to gain some coins out of it, I’m all for change lol. Although I do think about the environmental impact anti-crypto peeps talk about… not sure where to take that discussion though, haven’t looked much into it. But the fact that it’s given people in countries like the Philippines another source of income to potentially escape poverty? I say why the heck not.

I am very sure where to take that discussion - being an electrical engineer. It is true that ONE method of ensuring security of the blockchain is “proof of work” it is not the only method - and all crypto organisations are moving as fast as they can to get away from proof of work. In the case of BTC and ETH, it is true that the trade off to ensure the security level is high enough to prevent a 51% attack. So BTC is embracing the Lightning network which has already decreased the “energy cost per transaction”, ETH will put ETH 2 into production some time in 2022, and others (like XRP) do not even use proof of work.

That is why I decided to commit to a formal training program - it took me months to find one, and now I have found it I kick myself that of the 30 or so people I asked, I was asking the wrong people. So I decided again to listen to 14 to 30 year olds. One of my friend’s 18 year old son is managing a dental practice IT support for a fee that is 20% of what they used to pay a large company to do. He repairs graphics cards used by crypto miners, and already has stated he is not going to use a student loan for university because he already earns enough from IT support (largely automated) to pay his fees and living costs. Incredible. Another bit of insight came from my builder’s 14 year old son. He showed me how he did a 6X in Doge last year - within 6 weeks, and how he set up crypto accounts for his mother and father. No doubt in my mind - another future rich kid.

If it takes me, as an engineer less than five minutes to read about the use cases that Bitcoin has brought to us in terms of MARGINAL USE OF ELECTRICITY THAT WOULD NOT BE GENERATED, I don’t know why there is so much FUD unless it is coming from the current mafia of global power brokers (in the UK we call them “the BIG SIX” utility providers. Our offshore windfarms are only used effectively about one third of the time. The rest of the time, they are stopped from turning because the power grid has no demand in the middle of the night. Tokens such as POWR - one of my “three zero” investments have the blockchain solution for a dynamic exchange to switch power supplies to individual homes based on “least cost provider” something today done only between the big six. Elon Musk has his own solution to this too, with his solar roofs, powerwall and electric cars. These technologies are transformational and will create more jobs (high value jobs) than the manual jobs they will lose from our current world. Historically the oil and gas business has had enormous subsidies from governments disguised as tax rebates for exploration. This has resulted in a huge distortion of allocation of capital for the wrong reasons - protection of the status quo by powerful lobbies instead of a focus on real options analysis of allocation of funds to better reuse our limited physical resources. I thank the blockchain for making the impossible possible - to curtail fraud, to prevent corruption of double entry bookkeeing (the blockchain ledger) and countless other real world applications some of which have not been developed yet. Brave new world - we can be part of it, or ignore it and become unemployed within a decade.

Do me a favour. Look at the link to a twitter feed from the DFK team. All they asked for their members to do is to retweet - multiple prizes for participants of 50 Jewel (now USD1,000). Pretty good return on investment of time, no?

You still have time to:
Get a twitter account if you don’t have one.
Join the twitter Discord server,
Follow the link to the game and see if you can join in time. I forget if there is a minimum amount of ONE token you need to set up in your metamask wallet.
Crypto.com exchange sells ONE for other cryptos. I funded my DFK account via metamask using BTC I had in crypto.com exchange,

If you have difficulty just ask me to help. I’d love it if I helped you win $1,000, That could boost your Forex bank somewhat. :rofl:

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You know, in the investing world wherever we see high yields it is an indicator to high risk or even a scam… There is a crypto that have an APY of 14000%, your money got doubled every few weeks and it can be bought throuth the avax blockchain. Does this make it a good investment? No. I mostly look at the progect of this coin and its supply and if it can be used in the metaverse or nft world.

What is the requirement to win the 50 $Jewel? Is it just you retweet? Or I need to join the game? Thanks :blush::+1:

I am slightly concerned that these young crypto rich folks will think it will always be this easy to make money. Then again, perhaps in the future it will be? Or that they will make enough to last them a lifetime…

Yup. As much as I hate change, I don’t want to be left behind.

Joined their Discord! I have Twitter but I like to keep a low profile on there lol.

Watching a few videos on it now. Prob won’t play the game as I do not have time. But would like to at least have some info on it and see how I can proceed! Although might just get ONE for now on Binance. It’s on sale lol.

Ok just got to the APY part of DeFi kingdoms lol. Now I understand what you mean by Gardens! Will post back if I have any questions.

yes, there is Nexo

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would be interested in pointers where / how you do this?

see this link first then look for some Youtube videos explaining how to join and how to play

Go to the link I provided and do some work finding out. It takes me longer to type this than it would for you to just click the link. OPPORTUNITYISNOWHERE

I like the Anchor protocol and think it is worth adding to as part of my portfolio. I have other USD pegged coins elsewhere as well since this is algorithmically backed. I think it will hold the peg just fine but better to diversify.


Do you get insurance btw?

I haven’t thus far as it depegs no more than other stables and quickly gets back to the $1 mark. As I add more and more in I may do.