Post
Topic
Board Altcoin Discussion
Re: what are risks in adding liquidity on a defi platform?
by
lumierre
on 30/07/2021, 05:44:55 UTC

I'm about to try Defi platform now but i have no idea about it. All I really just see is that its going to give me more than 10% of APY. This is good enough for me but I just want to be aware of the risk if anything could happen. Any given situation, is this not going to be good?

Personally I do staking on different projects on Binance Smart Chain and Polygon. To find a good project you can either choose something new, if you want bigger APR, but the risk is relevant, or something that has already been working.
If you want to invest in a new project you should investigate the idea, docs and development team. What is more, you should pay attention to marketing campaigns and social media. You necessarily should investigate if there is a big community and there are many people who trust this project and want to invest.