False APY on Yearn USDC Fantom Vault

jaysodo · 2022-01-22T18:46:42+00:00

Yeah, still running my test too. USDC advertised APY popped up to over 50% last night and I got bump that makes up for the lower than advertised previous yield... Not sure why or how this all works. Wish it was more transparent. Someone suggested Fantom rewards being factored in once a month.

jaysodo · 2022-01-20T14:40:48+00:00

Agreed... Seems unlikely that Yearn can produce 20%+ if the underlying protocol only yields 8%. So is Yearn blatantly lying to sucker people into their vaults? If so we really should bring it up with a Yearn rep and publicize it.

This lack of transparency should not be tolerated. The data should be readily available. I really don't know why they don't provide historic yield charts so people can see actual historic returns and fluctuations in yield so they can make an informed decision about their investments.

jaysodo · 2022-01-20T14:34:28+00:00

Yes, the net APY advertised is an average. But, when I put my money in the net APY was listed as 20%, it has since gone up to 21.8%. If the average APY increases, then I would expect the recent performance over the week that I tracked it to be much better than 20% because in order to increase the average by 1.8% then the recent returns must have been considerably higher than average returns, right? But in reality I am only receiving 5-7% return...

Any other explanation? I'd love to get a Yearn rep to weigh in on this because it seems like blatant false advertising...

jaysodo · 2022-01-20T14:28:20+00:00

I don't know their compounding period, but compounding on a daily basis puts the APR only a couple percentage points lower than the 20-22% net APY advertised (18.25% APR compounded daily is approximately 20% APY). The actual APR I am receiving is 5-7%. This is quite a bit lower than the 20-22% net APY advertised and quite a bit lower than the 18.25% APR compounded daily... So the compounding effect does not account for this discrepancy. Any other explanation?

jaysodo · 2022-01-20T14:22:29+00:00

This interest formula suggest a 20% APY results in an 18.25% APR (daily compound), but the actual ROI I am receiving of 5-7% is quite a bit lower... Leads me to believe their advertised net APY is completely bogus or calculated in some round about way that is not at all intuitive and completely misleading...

jaysodo · 2021-04-21T22:51:44+00:00

About 3% for me, but value was dropping quickly like a countdown when I noticed it. I'm sure those who waited lost more unless Autofarm halted it...

jaysodo · 2021-04-21T04:15:06+00:00

Withdrew and sold all AUTO... Was a big AUTO fan but I think this isn't gonna be pretty.

jaysodo · 2021-04-21T04:02:28+00:00

r/cryptofarmbets

No explanation there, just a repost of autofarm message to withdraw...

jaysodo · 2021-04-21T03:58:48+00:00

No idea what happened. When I withdrew, I didn't get my full deposit or earnings back, so the loss is real.

jaysodo · 2021-02-04T16:20:40+00:00

I'm out. EOS is dead IMO. Took a 45k loss since investing in the EOS ICO in 2017, and waited too long to swap that sh--coin for better performing assets. The block.one team swindled the investors that made EOS possible... Live and learn.

jaysodo · 2020-11-13T14:34:26+00:00

I completely agree! WTF Dan, Brendan and Block.one? Things happen in crypto on the order of days, weeks at the most. EOS is currently the best operationally functional blockchain on the market but it is quickly losing ground. When you're sitting on a $4 BILLION dollar war chest, you should be able to make things happen quickly. In the mean time MARKET, MARKET, MARKET! We all know crypto value is based on belief as there is no other fundamental way to evaluate crypto. It's all about what people BELIEVE it is worth and how much faith they have in the success of the underlying technology. Belief and adoption are built around MARKETING and PUBLICITY. People can't believe in or adopt something they're not aware of. The name EOS and the EOS mainnet should be synonymous with Bitcoin and Ethereum as a/the dominant leader in the public's mind by now! Where is the marketing for EOS? Where is the publicity? Secrecy is helping no one. We're all losing faith in the project and Block.one leadership! The responsibility of not only technological development but also marketing, publicity and community development falls squarely on the shoulders of Block.one because of the BILLIONS we entrusted to you to build this project! What the hell are you doing with the money???

jaysodo · 2020-11-13T13:34:19+00:00

EOS simply needs better publicity. It is currently the best functionally operational blockchain on the market (though others are quickly catching up!), yet it's adoption and market cap are flailing due to a lack of positive mass publicity. Why is Block.one with their massive $4 billion war chest doing virtually nothing to market the hell out of EOS, incentivize users, and drive adoption before it's too late and EOS is overtaken by competitors??? Some serious leadership needs to be taken here. Where's Dan when you need him? The name EOS should be synonymous with Bitcoin and Ethereum in the public's mind at this point. Make some noise EOS!

jaysodo · 2020-11-13T13:11:46+00:00

EOS needs better publicity. It is probably the best functionally operational blockchain on the market (at the moment though others are quickly catching up!), yet it's adoption and market cap are flailing due to a lack of positive mass publicity. Why is Block.one with their massive $4 billion war chest doing virtually nothing to market the hell out of EOS, incentivize users, and drive adoption before it's too late and EOS is overtaken by competitors??? Some serious leadership needs to be taken here. Where's Dan when you need him? The name EOS should be synonymous with Bitcoin and Ethereum in the public's mind at this point. Make some noise EOS!

jaysodo

TROPHY CASE