Degens only — Using Thor to turn $2k into $1.7k p/m
Passive income through purchasing nodes is risky, but has provided an ROI in 3 months on the projects that have survived. I have decided to go with https://app.thor.financial/. Its new, its Degen, it may tank, but here are the reasons I went for it.
If you have heard of nodes, then this is a high risk investment, but deliverying great yields for the lifetime of the project when it works. Thor is only a month old, so this is high risk. I took the plunge and purchased a Thor node this weekend.
I was quite keen to get into Strong nodes as they have been running for a year, delivering the yields consistently. So for a high risk investment, it seems the least risk. (hope that makes sense 🤪). But, in this dip, I couldn’t afford a strong node and then through a discord came across Thor.
So, naturally do your own research, but here is a little of what I found on Thor. I did watch quite a few youtubes, read their docs, joind their discord for a week to follow discussions. Below was the best YouTube I found and he did a great job to go into the risks as well as rewards of Thor.
So, in a nutshell
- Thor is a fork of RING which was a total failure
- The lead developer of Thor has KYC’d, but rest of the team is anonymous and this is a concern.
- They do have a very active discord
- They are open with their investments in offering nodes as a service and seem to be making some great investments, having recently become a FTM validator.
- Also doing DeFi as a service, so seem intent to not purely be a ponzi scheme requiring new participants to keep up the yields.
- The project is only a month old, so don’t ape in with more than 2% of your portfolio.
- The 29th Jan is a big date to see if they are able to stop the whales dumping their rewards and sending the price the same way as RING.
With the 29th looming, their price took a nice up turn as they are getting the whales together to perform over the counter (OTC) detal’s to stop the price tanking and this weekend announced 2 of those.
They are also very open with their investments and give the transactions so you can follow up on them.
Like Strong, when you purchase a node, you are giving them your money in return for passive income for the lifetime of the project. Hence, don’t ape in…
Also, a high likelihood that the yields may drop. This is not a bad thing though as the yields are insane at the moment.
You now need to decide which node you can afford. Naturally ensuring this is not more than 2% — 3% of your portfolio. As highlighted below you can:
- Purchase your Thor tokens
- Approve the contract (only need to do this once)
- Name your node
- Create the node
Congrats, you now have your node, but you have lost your AVAX or USDC forever. So what happens next….
Strategy: The magic 5 nodes
So, the strategy you could go with is:
- Purchase 1 Thor node for a $2250 investment.
- Wait 37 days for the payback reward and purchase node 2.
- Now, with 2 nodes, wait 19 days to purchase node 3.
- With 3 nodes hammering away, wait 13 days for rewards to purchase node 4
- Finally, with 4 nodes pumping away, wait 10 days with enough to purchase 5 nodes
That is a total of around 80 days. (keep in mind, this changes with Heimdall or FREYA as rewards are less)
So, with 5 nodes, you will receive 0.33 Thor per day, which at a price of $180, equates to $59 p/d income.
This gives you $1770 p/m in income.
At this point, I would be taking some profits to recoupe the original investment and then monthly, spilt the rewards between claiming and purchasing new nodes.
I have been quite intrigued with nodes for a while, so took the dip. I have learnt to not ape in, but dip your toes in with something small and give it a chance to build. Crypto is risky enough without sending 10% of your portfolio into DeFi which is arguably the highest risk in crypto.
I invested in TOMB in November and since then its become the biggest pat of my portfolio. I am so keen to find ways to work my coins. With BTC down at $35k, at least then, I am only 30% down and not 50% down right now. 🤪
For those who made it this far, I will update this article on 1 March 2022 and let you know how it went.
Please do note, this is a very high risk project as identified on isthiscoinascam.com