Is This The Highest APY Crypto Has To Offer Currently?
I am constantly searching for a new crypto and DeFi projects that offer some nice and juicy APYs. Here’s a project I found today that took my breath away.
The crypto and DeFi world has so much to offer. Moreover, if you start searching, you can find new and attractive projects every day — despite the current bear market.
Of course, you have to be cautious. There are lots of scams and b*llshit projects out there. Here’s my checklist to assess new projects: 10 Things you should do before investing in a crypto (defi) project!
However, of the platforms I regularly check is Magik Farm
Magik Farm
Magik Farm is a decentralized, multi-chain, all-in-one yield optimizer catered to the specific needs of elastic supply defi protocols and their investors. It provides its users an array of automated yield and profit-taking strategies while maximizing compound interest and deflating those tokens’ underlying supply.
Usually, I check Magik Farm once a day for new projects and farms to invest in. And here’s what I found today.
Here’s what I found today: ORB-WBNB Liquidity Pool with 127 Billion APY!!
So here’s what I found today. Magik Farm currently offers an ORB-WBNB Vault that generates 127 Billion APY. ORB is the native token of Orbitalswap.com. Here’s a screenshot of the vault.
I know what you think: Either this is a total scam, or this is too good to be true.
Well, actually, there is no catch but two things you should consider before throwing your money in (as I did).
ORB just launched two weeks ago. Therefore, there’s a high risk that the token’s price drops massively and eats your APY. (Of course, there’s also a chance that the token’s price rises — however, from experience, this is the unlikely case).
The APY won’t stay that high for long. So don’t expect to become a billionaire with it. Usually, the APY drops pretty quickly when money flows in. However, it will be interesting to see how it develops in the next few days.
Nevertheless, as you can see on the first screenshot, I decided to throw a couple of bucks in. So let’s see how this plays out!