Income of $ 160 per minute, 3000% profit per trade, $ 250 thousand in disaster, and other high-profile stories of big earning in digital money over the past month
In early September, a Twitter user told how he earned more than $ 160 per minute or $ 240 thousand per day in the field of decentralized finance. The investor announced that he transferred 7,000 ETH to the SUSHI DeFi platform, which offered a 2200% annual return.
This became possible thanks to a new strategy in the cryptocurrency market - “profitable farming”. It works as a deposit - the user transfers his funds to a special service, temporarily blocks them there and receives his interest on the "deposit", but payments are made in another cryptocurrency.
As a rule, DeFi projects initially offer extremely high interest rates per annum to attract more users, but they are floating and rapidly declining. For example, the Spaghetti Money service offered a 35,000% yield on the first day, after two weeks this figure dropped below 50%.
Traders using this or that service receive payment in its tokens. Therefore, the final profit depends not only on how many coins you can earn, but also on the price of their sale. If it falls, the result will be below expectations.
Another DeFi user reported how he turned $ 200 in Ethereum into $ 250,000 in a few minutes thanks to a malfunction on the Uniswap decentralized exchange. This happened after the addition of the Soft Yearn (SYFI) project cryptocurrency to the platform. It is an adaptive coin, the supply of which changes depending on its market rate. Every day there is a recalculation of tokens on users' wallets, the number of SYFI increases or decreases, this mechanism is called Rebase.
The first recount took place on September 3. Immediately after that, the SYFI rate should have decreased due to the increase in the number of tokens in circulation. However, this happened with a delay, which one of the traders accidentally took advantage of. A few minutes before Rebase, he bought SYFI tokens for 0.5 Ethereum (about $ 200) at a rate of about $ 100. The operation was successful, but in the end he received not 2 SYFI coins, as he should have, but 15,551 - this was the result of a recount. At the same time, the SYFI price did not change as much as it should have. Thanks to this, the trader, immediately selling the received tokens, was able to gain 740 ETH or about $ 250 thousand.
Another case of large earnings in one transaction occurred with a client of the Poloniex crypto exchange. In the first minutes after the listing of the Polkadot token, its price jumped from close to the market average of $ 300 to $ 11,300. It is unknown how much the user was able to sell coins at this price, but his profit exceeded 3000%.
Holders of the Pickle Finance DeFi token could earn over 1,100% of the profit. In three days, its rate increased 12.7 times. The rise in the value of altcoin began after the creator of Ethereum, Vitalik Buterin, was mentioned in his Twitter account. He praised the developers and asked them for details on the technical implementation of the system.
The most high-profile case of earning recently occurred with Uniswap users. In mid-September, she released her UNI tokens and distributed some of them to users. As a result, eight traders received from 95 thousand to 245 thousand coins. At the asset rate at that time, it ranged from $ 250 thousand to $ 750 thousand. About 50 people received from 10 thousand to 95 thousand coins, that is, $ 25-250 thousand.
In total, about 100 thousand users won in different amounts. This data is confirmed by information about transactions from the wallet from which the distribution was carried out. For example, according to one of the transactions, an unknown trader withdrew 150 thousand UNI tokens worth about $ 430 thousand from the prize pool.