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My first experiment with meme coins in a bear market
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First of all, please don’t follow any of this and this is DEFINITELY NOT a financial advice. In fact this is more a stupid thing to do (remember what happened Mark Cuban)

So, with the hope of the bear market not getting any worse, yesterday I decided to spend about $500 in some experiments with DeFi and meme coins - and see where it leads.

Bought YFI worth $500 and then borrowed about $400 adding that as collateral; which itself is pretty good, especially if I use that $400 in some solid APY project in a trusted platform; instead I purchased one of the most hated meme coins SHIB and one other meme coin which you might not have even heard of, called tomato with an insane 2700% APY lol - I know, it’s going to a single digit once more people know about it.

And added the pair in uniswap to start farming tomatoes 😅

I made about like $70 dollars so far and luckily shib and tomato is not falling much (could because it’s pegged usd everywhere - which is oddly smart - or maybe because the price is too cheap already lol) - or maybe because nobody cares or knows about this in a bear market.

I will get out of the LP day after and take my $400 and leave the rest of the shib and tomato and forget it lol

Who knows.. nobody thought doge would even become one cent.

But look at all the possibilities defi brings.. don’t do this though.

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3 years ago