“Making Money on Crypto. Test Drive”. Episode 8. The Hunting Behavior of Cats.
Two months have passed since the start of the “Making money on crypto. Test drive” reality show. How did the new platform HeroCat.io behave and what happens to farming assets when the market is dominated by bear trends as of December 3, 2021.
The calculations exclude exchange fees and slippages, so the final profit may vary slightly.
Cat Tricks For Catching Hamsters.
In the previous article, we described how we purchased a MuMu NFT cat for 200 USDT, and invested another 1,000 USDT to upgrade it. The expected reward was supposed to be about $250 in HCT tokens.
On the first day, this risky affair brought us 1375 HTC or $275, which we recklessly spent on the next upgrade of our cat.
The next day also made us happy — the rewards received were at the expected level, but on the third day the cat showed its claws, and we learned in practice one of the basic rules of farming:
No one can guarantee you the level of rewards.
The reward on the third day was reduced by 4 times! This technique is called halving and means that the rewards were halved compared to the previous day. And the first two days were bonus days for beginners when halving was accumulated, but not applied.
One way to avoid a rewards decrease is a constant maximum upgrade of the mining cat — around 1,000 USDT.
The halving of rewards continued the next day as well. We had already decided that Achilles would never catch up with the turtle and our investments were gone when the halving stopped on day 5.
The rewards continued to decrease at about 5% per day, but this was due to the joining of new players, as the reward pool is shared by all.
We exchanged the collected HCT for USDT using buyback of tokens of the platform itself at the rate of $0.2. And despite the total amount of HCT tokens available for the buyback being limited, it is constantly increasing and there is no problem selling HCT.
As of December 3, 2021, our income from farming on the platform was $450. Which were successfully withdrawn to BSC wallet. Withdrawal from the platform takes about 3 days.
Currently, farming on the site HeroCat.io brings about $ 20 per day using NFT cat with a 1500 hash rate and is gradually decreasing. In total, according to the platform, there are over a million players in the game.
About 40% of the initially invested $1200 was returned. At this rate, it will be great luck to return the funds within 2 months.
At the same time, the creators of the game promise to launch an NFT marketplace soon, where it will be possible to trade our cats, which should have a positive impact on our income.
The project has an official Telegram chat where you can ask your questions.
WTON-WETH on TON Swap
Even though the Free TON blockchain was renamed EVERSCALE back in November with the native EVER token, many of its services, including the DEX TON Swap, are running under the old name, including the name of the WTON token — which is a wrapped EVER token used on the platform.
Farming of the WTON-WETH pair brought in 116 WTON income in two months. The valuation of invested assets slightly increased compared to the previous week and is about $213. On the image, you can see that the ratio of tokens in the pool due to Ether rate growth and WTON rate drop has changed significantly. At the same time, impermanent losses are currently insignificant and amount to about 5%.
According to the 120-day vesting period, only 30 WTON are currently available for withdrawal.
The total amount invested, including rewards, is $244 and is actually at the level that it was a month ago.
Cake on Pancake Swap
Our investment in Auto Cake on Pancake Swap continues to decrease.
After 2 months the profit from farming is 1,024 CAKE ($13.4), which is automatically added to the amount of the initial investment. However, due to the continued drop in CAKE, we are down by $ 50. At the moment, we have about $150 on our account.
SYP-SOL on Tulip
We continue to farm the SYP-SOL pair on Tulip.Garden, an aggregator platform on the Solana blockchain. The SYP token continues to depreciate and pull the total income down, despite a slight increase in the value of SOL.
For the month the profit amounted to 93 LP-tokens or $24 at the rate of $0,261. The reward is automatically added to the LP pair in farming.
The total amount of the investment, however, is less than the initial and is $187.
Results of the Week
Our cute Hero Cat suddenly turned out to be a predatory and cunning beast, whose hunting techniques we experienced firsthand. In fact, we remain the platform hostages and hope that our initial $1200 investment will be returned in at least a few months, not to mention the income.
Tulip Garden, TON Swap, and Pancake Swap traditional platforms reflect the general situation on the market, which is dominated by bearish sentiment. Only TON Swap remains the profitable platform, but even there, the total income for the month has not improved.
It can be concluded that the cost of tokens affects future profitability much more than the farming reward.
When planning an investment, a good decision is to choose a more reliable pair with a lower APY %, although in some cases the risk is worth it.
To date, the wallet has $295, of which $70 was brought by NEAR-USDT farming on Ref Finance and $225 by ZOO-BUSD farming on ZOO Game.
What will the next week bring us?