Hello readers, you might have been wondering what motivated me to write this article. My realization of passive income and how it has been changing people’s life has come up as a stronger experience for me recently. I felt like I should share this with everyone who has been looking into earning a passive income. (please don’t take it as financial advice and do your research before getting into anything)
I am currently pursuing IT and it has only been few months since I have started learning about Blockchain and Defi. That started when one of my Twitter followers shared about a project with some strong fundamentals, ICON. Until then I only knew about the stock market and what happens to companies with strong and weak fundamentals. I also heard about Bitcoin and Ethereum within my circles but never indulged in those conversations (I should have done that)
After knowing about the ICON platform, I quickly followed them and started getting the updates every day while I was scrolling through Twitter. They seem to have launched some interesting projects but I am not here to talk about them. After I was following them, I found out that they are launching a new Defi platform with the name OMM (First thought - was it something about electrical resistance ). Coming from a Technology background, I had very little knowledge about finance (To be honest, only about banks and the stock market). And now it was a decentralized finance platform that I need to look into and it was not easy for me.
Truth be told I just followed everything and everyone first (My common strategy). Later I started digging into this information and realized how first comers can make good profits in these kinds of platforms (As you take the first risk as customers). After its launch, I was able to quickly mint some USDS (which is a stable coin by Stably.io ) and supply it to the platform. In the starting, it was more than 50% APY for supplying USDS or any other tokens in the platform which seemed crazy. I would spend hours on the platform to see my interest and rewards increasing (It was surreal). The reward provided by the platform known as OMM tokens had even more value. So every time I received the rewards, I used another Defi platform, Balanced to swap the OMM tokens to get more USDS. I again would supply those USDS back to the platform itself. Even with a small amount of money, I started making 10 dollars every day. Sometimes I regret back to not being in the circles that discussed passive income but now I am happy about being a part of it.
I still have not looked into the smart contract that built this powerful system but I am already fascinated by the way it works. Since that day I have been making some passive income every day and believe me, you start getting a great sleep knowing that you can make money while you sleep. As a student, I know how much it means for us to be independent and empowered. This is the reason why I wanted to share my experience with the community. Anyways, feel free to share or write down any comments. Also, you can share how you first came to know about blockchain and Defi. I am also new to Steemit so you can support me with your honest comments and following my account. I will be sharing more about my journey in the coming days.
Thank you for reading this.
OMM Link - https://omm.finance/