DeFi can make you cry. Putting money into a solid investment DAOs could be a smart alternative.
What you need to know to profit from the hottest DeFi project in the IOTA ecosystem — ApeDAO under the microscope
PART 1.
I don’t know about you. But craft-wise, I’m pretty untalented. Maybe I got the talent from my father that homemade rabbit hutches were anything but escape-proof. But for us kids it was a nice pastime to recapture the escaped long ears.
Finances are a different matter. For several decades, I have not only earned my bread and butter with it. First as a bank employee and stock trader, later as a risk manager and business reporter. In front of and behind the camera, the subject has always captivated me and I have been happy to put my “two cents in” wherever I have been. Financial innovations attract me and it excites me to try out new things.
With crypto came DeFi: decentralized financial services that could make Bitcoin, Ethereum and Co. more and you no longer had to just “hold and pray” for profits of digital currencies.
And there came NFTs, digital certificates of ownership, which on the one hand were linked to more or less beautiful pictures and on the other hand guaranteed an undercurrent of ownership with the help of a. Blockchain record guarantee.
I tried DeFi and have to say it can be highly lucrative. But as good as they think the returns are: The dangers lurk elsewhere: in the decentralized world, financial transactions involving lending, bartering, arbitrage, etc. — in other words, the whole money multiplication apparatus — work with the help of software protocols, so-called smart contacts, and bridges to other blockchains “bridges.”
Where money lies, thieves will always try to manipulate, steal and defraud. Therefore, as an investor in the DeFi area, you ideally not only need knowledge of how the financial market works, but you should also be able to “read” smart contacts and know whether an audit is any good and the security of the decentralized financial construct, e.g. an exchange (DEX) has been conscientiously checked and is thus protected against hacker attacks.
And there my circle closes: Because I have no software and programming knowledge. Although I have not been robbed of my money so far, there have been enough headlines from other projects. Allen 2022 cryptos in the high 3 digit million range were stolen by hacks. That’s not even counting the losses from the FTX scandal. There, too, manipulations of smart contacts are said to have occurred (for example, during the liquidation of positions).
So hands off? No, it doesn’t have to be. Why not let professionals with financial AND software knowledge do the work? If you have done enough research, you may find it possible to join an investment DAO — a community of interest that has a common goal. This doesn’t have to be trading profits. There are DAOs that want to invest in NFTs such as NFTs or acquire a rare copy of the U.S. Constitution as a store of value. However, as a rather classic investor, I want to focus here on the crypto financial market with what is generally understood by DeFi: increase cryptos through clever investment activity or trading. This includes — as already touched upon above — staking, liquidity mining, farming, lending, swaps, airdrops and much more.
Since I have ultimately decided in favor of the IOTA ecosystem in accordance with the classic DYOR principle, I do not want to go into DAOs of other chains, but rather the most interesting investment project “ApeDAO” from my point of view.
Since I can neither build rabbit hutches nor “read” software, I invested a nice amount of money in this monkey gang after intensive research and -caution bias- and count among the 10 largest shareholders of the DAO. The project not only got off to a flying start, but was able to grow its membership, expert panel and structure. Moreover, the Monkey Club has already managed to fill the treasure chest. The treasury reports its holdings daily on its statistics page. Meanwhile, the total stock converted into IOTA has doubled to 312,000 IOTA (MIOTA).
This is remarkable, since the DAO has not yet really taken off. People are eagerly awaiting the update of the IOTA test network Shimmer with EVM compatibility. This network upgrade will launch numerous new projects (rumored to be over 70), including exchanges (DEXes like ShimmerSea) or lending platforms like LendExe, which also recently launched on the Ethereum network.
I expect the starting signal for the end of April, beginning of May. If sooner — also fine. But better to test everything well first. Let’s use this time to make the project of the ApeDAO around the founder of AlphaRho a little better known. They have deserved it. Because who looks at Discord, with which commitment is built can guess that there is something big in the becoming. So besides my financial commitment I decided to become an “Apefluencer” of this DAO and to let others in on the secrets of making a lot of money monkey-wise.
Much of my information I also got from an already existing LitepAPEr which the DAO founders wrote and I link at the end of the article, as well as information about the upcoming NFT-split of the OG collection, which allows to buy cheaper shares WITHOUT dilution. However, I will start a small series on Twitter about this when the time comes (i.e. April around) so that you can find the best and financially appropriate way for you to profit from DeFi via monkey NFTs.
Until then, let’s use the time for something #DYOR: I’ll help you with research, if you like. Also, please don’t forget to follow me Senfda Tzu (and @iotapes) on Twitter, and you’ll stay in the loop.
If I’ve tickled you enough now and you really want to know more, don’t miss part 2 of my post. I will introduce you to the most important metric of the ApeDAO, the PTR. What it means, how to read it, if it’s good or bad if the number is high or low and why it will be crucial for you if you make blatant profits or even losses with this investment if you interpret the PTR correctly… that and more in PART 2 on this topic. Stay tuned!
Happy Apeday!
Read the ApeDAO litepAPEr here:
https://docs.google.com/document/d/1Q_ENzihsyR5B849nEzHcu499eKFLkQg36OP8aYUgjXI/edit#
