The crypto industry is booming, and there are just millions of people who want to get rich in a second or two. If not in a couple of seconds, then at least in a couple of days. How can you get rich? You need to find an awesome project, invest your money, and see that it will bring you awesome return, quickly!
Yesterday I discovered a page presenting new projects launched on all the different blockchains. And I was almost shocked to see the incredible number of farms that are launching every single day. They promise you APY and multipliers of more than 1000x, and you only have to add your money to liquidity pools, and you will start to receive a fantastic income.
But, who is in need of all these farms? And to be honest, most of them are just crap! As I looked into some of them, you could see that they promise 1000% APR as you bind your LP tokens at the platform. But, then I looked at the actual size of the different liquidity pools, and I discovered that many of them were below $50,000 in value. What does that mean? I can easily add funds to the pool, and I can be rewarded with tokens. But, with a liquidity pool at that size, in the moment I start to remove funds, the pool will just move in the wrong direction and whatever I decide to withdraw will be worth nothing.
So, I am not saying that all these projects are scams, but I am telling you that you need to be careful and choose which projects you believe in, trust in, and invest in carefully!
What about Wonderland?
And I also discovered a project named Wonderland. That is quite interesting, because it is exactly the same as OlympusDAO, just running on the Avalanche blockchain. Since it was released only in the start of September, it is still running with much higher APY (currently around 40,000%), while the OlympusDAO APY is currently running at 5000% or something like that.
I then did some research in order to learn more about Wonderland and whether it is worth investing in it, and to be honest, I really have no clue. Just like I noticed several red flags about OlympusDAO, I am starting to get more positive to the project as I follow the community,I see the commitment, and also see that it has a great potential to become something very big and stable. In other words, Wonderland on Avalanche has the same potential, but still, it is just a fork and it doesn't require at all as much brainpower to create this, because the protocol has already been made by someone else.
In other words, there are even more red flags with Wonderland, but I hope that time will prove me wrong and that Wonderland will build a strong community, that developers will join, and that it will be around for many, many years. And believe me, if Wonderland will be around for a long time, those investing right now will become incredibly rich (unless they sell their tokens).
What do you think? Would you like to learn more about Wonderland? Click the link to find out more about the project and the platform.
Do you have any favorite protocol or project that you believe will make you rich and that has great potential? Please let me know about it, so share a comment believe and let me hear your thoughts!