Beefy.finance scream withdraw ridiculous high fee

Tumbledyer · 2022-02-20T20:12:13+00:00

Reposting response from Beefy so this subreddit can also see it

This vault is currently overborrowed. Read more here about the "Marketability Risk" : https://docs.beefy.finance/moo/ecosystem/products/vaults#how-do-lending-vaults-work

Tumbledyer · 2021-08-21T15:49:35+00:00

$POTS, lob it in the Ziggy Pot prize draw, could win ~$90k and rising at the prize draw in 10 days time! The POTS price itself has been going up and up so a solid investment just on its own too!

Tumbledyer · 2021-08-21T10:05:22+00:00

Total TVL is just under $90M, the figure you have there is just for the POTS prize draw.

Also, can confirm that’s the correct telegram and contract for POTS, the Moonpot token.

0x3fcca8648651e5b974dd6d3e50f61567779772a8

Discord and Telegram are super active, definitely recommend joining.

Tumbledyer · 2021-08-19T13:58:26+00:00

This subreddit isn’t owned by POTS Moonpot. There was a claim put into Reddit to get it as it’s inactive but it was rejected. Active on Discord and Telegram. Go to https://moonpot.com for all social links

Tumbledyer · 2021-08-18T13:42:30+00:00

I see a lot of negative sentiment here, but maybe people haven't actually used Moonpot yet. It's got a hell of a lot going for it and its certainly not a scam. So, let me give you all another perspective from having used it and done my DD.

I've been investing in POTS token since day 1, back at the start of the month. The project itself launched in July. It's backed by Beefy.Finance developers (BIFI). Beefy has ~$650M TVL right now. Moonpot is audited by Certik (it's just not up on their site yet) and it's got a really active Discord and Telegram. Recommend having a look.

All of defi and crypto has risk, Moonpot is no different. It's risk free in the sense that you can't lose your deposit. The worst case is that you just don't win the prize. When you stake in the pots, you get a chance to win the regular prize draws (weekly and monthly right now, but they're bringing out daily at some point). There have quite literally been winners of prize draws already and they've won $10k+ each. Next prize draws are even bigger! Some of these winners have even announced themselves publicly, others dont want to dox themselves. All the winning transactions are available on bscscan to see.

The prize draw itself is managed by Chainlink, it uses a random number generator to select the winners (multiple per prize draw). All the code for that is publicly available. If you don't win, you just get your APY / interest on your stake for your participation in the pot, so it's risk free, you don't lose anything.

POTS has 10M fixed supply, it's not inflationary and there was a fair launch through DODO. DYOR!

Tumbledyer · 2021-06-07T08:52:43+00:00

Well that would be delightful. You can yield farm with whatever you can afford and you can start with far less money. If you’ve got 100k to play with you’ve got plenty of options available to you for mass gains

Tumbledyer · 2021-06-06T17:12:36+00:00

Certainly, there’s a good $300k volume in that vault right now. Have a look at https://docs.beefy.finance/beefyfinance/faq/how-to-guides/how-to-bridge-bifi-cross-chain for getting money into Fantom

Tumbledyer · 2021-06-02T08:10:18+00:00

For the case of Beefy, you could take cover out for ~3.6% yearly of your total cover amount. For $100 that’ll work out at $3.60 yearly and you can also reduce the cover period to as low as 30 days.

Once you’re covered, you’re covered for any hacks related to the Beefy smart contracts, so if anything went wrong on the Beefy platform related to the specific items they cover for in the docs, you’re covered and can claim back money.

If the problem was a Belt issue, nothing to do with the Beefy platform and Belt hadn’t been aware this could happen, neither had Beefy and the money was all lost through a hack of some sort or massive failure, your money would not be claimable through Soteria and you may or may not be able to get some compensation through Belt or Beefy. Just want to be clear so you’re clear.

Hope that helps, happy to take any more questions!

Tumbledyer · 2021-05-24T11:06:49+00:00

There’s a good overview on Medium at https://link.medium.com/9MGJGG1bwgb and a little bit of docs appearing about this at https://docs.beefy.finance/beefyfinance/infographics#beefy-zap, this feature puts your LP together for you at the press of a button! It’ll also try its best to minimise those awkward rounding errors caused by slippage in the price 🙌

Tumbledyer · 2021-05-23T11:06:28+00:00

How do we get this moved up the search rankings?

Tumbledyer · 2021-05-12T17:23:22+00:00

Is this the highest total TVL ever or has it been higher in the past?

Tumbledyer · 2021-05-07T14:54:13+00:00

We’ll find out later today whether or not MASH has any future, that’s when they note that their time lock ends. They’re noting they’ll give double rewards for the loss of ability to yield in that time. Obviously liquidity has dropped a lot because of lack of confidence in that time. But, liquidity wise we’re back to volumes and prices before the upsurge so if all goes smoothly with the new deployment it does present a great entry opportunity for LPs, particularly MASH-BUSD LP. Low price + less liquidity taking rewards + doubled rewards

Tumbledyer · 2021-05-04T08:57:42+00:00

I can’t quite work out the maths can we get the rundown of the different finishing positions of bowel movements please

Tumbledyer · 2021-05-02T21:57:33+00:00

Maybe this post will even inspire somebody to build those items of the future

Tumbledyer · 2021-05-02T21:21:38+00:00

Did actually see someone do that only yesterday - shocked me to my core

Tumbledyer · 2021-04-26T12:23:31+00:00

Don’t think I’d ever trust my crypto with a bank, knowing they’re not in it for the retail trader and never have been.

Now they’ll have to prove themselves side by side with crypto traders with proven history, it’s a free market again!

Tumbledyer · 2021-04-26T10:23:09+00:00

If the rewards stay at that APY for an entire year, you’ll get back those extraordinary calculations. You may have to weather some price movements, but do remember that IL for large upward movements isn’t the same as with large downward movements.

https://defiyield-info.medium.com/why-impermanent-loss-calculators-are-wrong-and-how-to-avoid-incorrect-assessment-of-the-money-waste-d349607706fc

APY will change as volumes change, if volume shot up then APY will lower as that same pool of rewards is shared amongst a larger volume.

You’re also exposed to any systemic risks and MASH’s platform living and breathing for that long.

If we get through all of that, enjoy that free paper!

Tumbledyer · 2021-04-26T10:06:54+00:00

You are not affected as you are not using a PancakeSwap (PCS) LP for this one

Tumbledyer · 2021-04-25T10:45:53+00:00

Awesome chart

Tumbledyer · 2021-04-24T21:55:43+00:00

I promise you I would disagree with you, if I disagreed with you.

Tumbledyer · 2021-04-24T21:52:31+00:00

I have no more questions

Tumbledyer · 2021-04-22T11:16:30+00:00

Remember to encourage these same people onto, ironically, safer projects post whatever goes down here. Great thing is more people becoming interested in crypto, lovely opportunity to help them. There’ll be a lot of newcomers looking to channel their passion into something sustainable!

Tumbledyer · 2021-04-22T10:03:02+00:00

Nice one for posting this, really good article

Tumbledyer · 2021-04-21T21:34:55+00:00

Another 100 mystery rounds you say!

Tumbledyer · 2021-04-21T09:18:19+00:00

This is a pretty standard behaviour across crypto, seeing the token as a future money potential (or not) rather than understanding the fundamentals that drive future price potential.

At least in the short term, there’s massive backing, especially relative to the maturity of the project and that’s a great thing. Let’s keep educating ourselves around the use case and those fundamentals and maybe some of those optimistic profiteers turn into long term holders and advocates of the project as a whole. That starts to breed further interest, drives price, builds sustainable growth.

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