2 stablecoin projects you probably don’t know about but will want to
While the market continues to move like a kid sledding down a steep hill, you might be looking for ways to optimize your portfolio. I know I am. So far I’ve come up with the following strategy for myself (not financial advice):
- Increase the the amount of stablecoins I’m holding in comparison to my overall crypto portfolio.
- Dollar Cost Average into blue chip coins.
- Invest in projects that might help with number 1 & 2.
In this article, I will focus on 3 projects I’ve been watching and investing in that help me achieve 1 & 2.
1. Ames-Defi {Experimental}
Ames Defi is a tomb fork connected to the auto-compounding protocol group, Aalto. The ames token aims to stay pegged to BUSD. This protocol operates on BSC (Binance Smart Chain).
While the Ames token wants to stay at a 1:1 ratio with BUSD, it is currently not there. As with most tomb forks. the pegged token can go above or below peg depending on market conditions and buyer behaviors.
This project is relatively new. The community is positive and supportive to new investors. It seems like they want this project to thrive long term rather than looking for short term gains.
Ames-BUSD farm
The Ames-BUSD
The Ames-BUSD farm is where you can stake your liquidity pool tokens for yields in ASHARE. They also have an autocompounding tool similar to beefy.finance if you don’t want to manually compound your earnings.
Why I like this project:
- Half of my LP token is BUSD, I know that I will be able to withdraw BUSD if the other token goes south. This means a lower risk profile to me.
- The community appears to be great at rallying and supporting the protocol.
- The development group has big plans and communicates on a regular basis.
What I plan to do with this project:
I previously invested in the AMES-BUSD farm and purchased an ASHARE node. Now that AMES is under peg, I will separate my AMES-BUSD LP. I won’t sell my Ames tokens. This would hurt the protocol even further. Instead, I will place the AMES tokesn into the Ames autocompounder. This will give me yields on Ames tokens daily (around 0.7% per day).
My BUSD will go into Midas Investments and earn about 13% APR. When Ames moves back toward peg, I’ll create more LP tokens.
2. Frozen Walrus Finance {Experimental}
Next up we have Frozen Walrus Finance. I know, the name made me skeptical too. Regardless of how I feel about this protocol, it’s been performing extremely well so far.
Similar to Ames-Defi, this is a tomb fork project. But this project is running on the AVAX chain. The Walrus coin (WRLS) aims to stay pegged with USDC.e. Right now this coin is above peg, this means you’ll need more USDC.e to purchase a WLRS.
The WLRS-USDC.e Farm
The WLRS-USDC.e Farm appears to be performing well with a yield of 1.61% Daily. Not bad for an LP farm that is half stablecoin.
Why I like this project:
The creator is big on educating the community about tomb forks. I highly recommend learning how to support tomb forks. When the community sticks together, the protocol can become an infinite loop of wealth.
Community, Community, Community. Everyone seems focused on the goal of staying above peg and printing more WLRS.
What I plan to do with project
I plan to start with a small test amount to and see how long it takes to earn my principle back ($100–500).
Final Notes
The projects I presented today are tomb forks. There are hundreds of tomb forks on the market. Not all of them are performing well. The key difference between success and failure is the community. Please do your research, hang out in the community and evaluate what is going on before you invest. Don’t simply look for % yields and assume it will be a success.
FOLLOW the journey (connect and join me to if you feel inspired)
🐦 https://twitter.com/parislaw
Crypto Exchanges for Beginners
- Get $10 in BTC on Coinbase: https://swiy.co/8Bnm
- Open a free account on Binance.US: https://swiy.co/8Bn-
- Open a free account on FTX.US: https://swiy.co/ftxus
Secure your Cryptocurrency Assets
⑆ Get a Ledger Hardware Wallet: https://swiy.co/8Bnw
More advanced trading
Sign up for Kucoin: https://swiy.co/ku-coin
Join me on the Defi journey
- Midas Investments: https://swiy.co/midas
- EMP.Money: https://swiy.co/empmoney
- Yieldnodes: https://swiy.co/yieldnodes
IMPORTANT PLEASE READ
Nothing I written in this article should be considered as financial advice. I create content about my own experiences, and it’s for entertainment purposes only. Some of the links may include affiliate commissions or referrals, but they won’t cost you anything extra for using them. Remember to check the posting date. I attempt to keep things as accurate as possible at the time of creation