DeFi update, how is staking LOOP for 1 year performing? 🤓
Well, I have recently started staking LOOP for a year. How is it doing I hear you ask?
Ok, so at a time like this, it is difficult to look at value since the whole market is down 40% 😱. So 10 days in, how is my year long investment going and what did I expect and what has turned out in day 10 /365.
Just for reference, I do not ape into DeFi, but do love it… I do prefer to spread little amounts into many protocols and then go in more as I gain confidence.
Except TOMB. I LOVE TOMB…. I aped into TOMB 😉
So the APR was at 380% 10 days ago and is down to 306% as of today. This is expected in DeFi and you do loose the high TVL’s pretty quickly. But, for me, thats OK. TOMB was also at 360% in November and down to the 100% range recently. If it holds the 150% range by the end of 2022, I would be happy camper.
Next, the usual happened to me, I thought I was buying in a bit of a dip and then the market tanked. I am sure the crypto God’s heard that I bought LOOP and the market tanked. Sorry everyone 🤪
You would think I know better…
That aside, this is a year long exercise and patients is key. After all, the entire market is down.
So, let’s not talk price at this stage, but, am I getting my rewards???
In 10 days so far, I have received 8% LOOP as reward. So, quite simply to multiply that by 36 (10 * 36.5 = 362), I end up on ~300%. Thats close enough for me as its just rough calculations.
Wohoo, so far yield is working…
Here is my hope to 4x 🙏
- Price goes to $0.70c per LOOP by the end of the year
- APR averages out at 200%
Am I being too optimistic????
- DeFi is the talk of the town, more people dip their does in every day
- It will become easier in 2022 as these protocols evolve
- Has helped 75k+ us do 18k+ transactions per day
- Nowadays, it has a TVL valued at $101 million