Post
Topic
Board Altcoin Discussion
Re: what are risks in adding liquidity on a defi platform?
by
coin-investor
on 30/07/2021, 11:12:57 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?

That APY you mentioned is very small, there are other farming sites that offers as high as 100% the risk on farming is rug pull where the whales and developers who provide liquidity can withdraw the liquidity leaving other investors with useless coin, and always check the time lock of the code, check https://rugdoc.io/ and check the reviews of farming sites if it's worth investing.