{ "media_type": "text", "post_content": "What are the actual risks of yield farming? I am seeing some crazy APY in some of the pools I am in\n", "post_id": "615a35de9ab3c40023779b74", "reply_count": 12, "vote_count": 1, "bowl_id": "58f9471ab298570010451a0a", "bowl_name": "Everything crypto", "feed_type": "bowl" }

What are the actual risks of yield farming? I am seeing some crazy APY in some of the pools I am in

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Impermanent loss ^ please Google that

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This is exactly what happened to me when I first started farming. Good lesson learned.

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This is a frequent tactic by micro-cap coins trying to build liquidity or rug you. Seeing a yield over 1000% APY is a massive red flag. There are legitimate tokens that have APYs in the hundreds that have other deflationary measures to counterbalance this crazy level of yield. The reply about impermanent loss is correct, as is the one about the token going to 0.

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Coin goes to 0

Following.

What protocol are you in? Hacks, bugs, high gas fees and IL are risks to your staked assets. Hopefully yield is payed out in your native assets and not just liquidity mining the new protocol coins, then your yield will be rugged when apy drops

I’ve been farming on the Fantom network. Can you suffer impermanent loss if one of the coins dramatically rises too?

As long as the relative value of the tokens in your pair changes, you'll experience impermanent loss. So, yes

Is there anyway to get around high gas fees?

I bridge to the protocol that I’m using

Additional Posts

test post from test

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How great would office emojis be in this app?

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Beyond 2 lines the text in each post card is cut off. I wonder how many lines in the comment section?

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Where is a new build???

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Post for likes

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Post to test

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Post for push testing

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new test post

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Oscar blunder is the reason partners need to take the blind spots/diversity training 😂

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Anyone in Tampa area? Current living situation not ideal and need somewhere to isolate while working remote

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