Is a 14,000% APY even possible?
So, yesterday I stumbled upon a project that has been operating with an APY up to 80,000%, but it is slowly decreasing and it is now running at 14,000% (yesterday it was 15,000%). I shouldn't complain, 14,000% isn't bad either, but it is still 1000% lower than the one I had yesterday. But, maybe you think that I am just joking at the moment, but I am actually writing about a project named OlympusDAO. I published an article about it yesterday and that you can find right here: https://www.ipaddressguide.org/is-olympusdao-a-good-investment-is-olympusdao-safe-read-this-before-you-continue/
You probably haven't heard about the project, simply because it is ranked somewhere around #2200 on CoinMarketCap. But, if you are a busy bee in passive income communities, then you might have bumped unto it, simply because it has been running with some amazing APY rates since its launch earlier this year.
Of course, there is a smell of Bitconnect and other scam projects to it, simply because it should be impossible to operate with such interest rates. And I guess it is. That is also why it is getting lower and lower. But, the project itself says that the interest rate will go down, and so will the value of the token (most likely), but this is just a super bonus in the start to early investors that will also payback for the fact that they have a bought a token at a high price while it is expected to fall in price in the coming months.
We don't know much about the total market cap of the token ($OHM) simply because I haven't found information about the circulating supply and total supply and more, but I will do some more research and, hopefully, I will learn more about it within shortly.
I am not sure what you think, but it sounds too good to be true, doesn't it? Let us say that you buy 1 OHM token and adds it to the platform. Now you just forget about it and then you check back on it in one year. Let us imagine that the APY has been declining quite a lot in this period, so your 1 token has now turned into 50 tokens (5000% APY). At the same time, the price of 1 OHM is no longer $300, but only $100. What a pity?
Your $300 investment has now turned into $5000. That is still a nice payback, isn't it?
You can find the OlympusDAO website at https://www.olympusdao.finance/
I would love to hear your thoughts and comments about the platform if you have any! :) I would be very careful with a large investment here, but as a "just for fun" investment, this is absolutely going to give you a little boost!