Is this the ultimate degen savings account of the future? I plunked a few chips into Hector DAO last night, 1.15 HEC to be exact, small bag. I guess like any gamble, there's a nice payoff if I hit!
Found an extra 200 kicking around and thought I would throw it down on a rebase DAO on the Fantom blockchain, let's see what happens.
The main reason I jumped into this one is not that I need to be in another rebase DAO, being extremely high risk there's only so much capital I want to allocate to this play. The main reason is that I think the Fantom blockchain will continue to see strong growth for the foreseeable future.
These OHM fork DAO's require treasury growth in order to sustain strong APY's and Fantom has a strong community and a growing user base. I think it's still somewhat under the radar, and poised for substantial growth. My thinking is that this condition will only help increase their chances of success.
That said HECTOR DAO could still end being a rug, you never know.
High Risk Shotgun Approach
At current APY if I left it staked for 365 days I would have a $1,000,000 stack (👀,👀). There's probably a better chance of being rugged! (no disrespect to project owners).
The shotgun approach I have taken to Rebase DAO's is to be in the main "blue chip" ones and then in one from each of the up and coming EVM blockchains (Fantom, Polygon, Avalanche, BSC).
Only time will tell but here's hoping one of these makes it!
Have to say interacting on Avalanche, Polygon, and Fantom has been real smooth, fast, and inexpensive. How long until ETH 2.0? These chains are going to continue to steal market share. The number of blockchain games being built on Polygon is promising, would love to see more built on Fantom and Avalanche!
SpookySwap
Shout out to spookyswap! This was my first time using the decentralized swap SpookySwap. Thankfully like most swaps it was simple, and being on Fantom, fast and cheap!
Transactions were near instant and cost a penny. I think in total I made 3 transactions approving the tokens and platform with my wallet. I do not miss ETH for a second when working on these chains.
Ciao for now,
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