Let's take a tour of @FuzzFinance on Harmony.
Why? What interests me here?
Fuzz was one of the few protocols (along with @finance_unite) that are sticking it out with Harmony and giving this Harmony-thing a go.
That takes guts in my book.
Good news/bad news first.
On 2022-05-22, $FUZZ was $0.01.
Now it's $0.00006
Ouch?
$FUZZ has been declining since ... well, forever.
But then there's today after they announced they would be staying on Harmony.
Is this spike today sustainable?
No idea. Also: I'm not a forecaster/neuromancer: so, no idea, squared.
But it is a protocol that's says it's going to stick around with Harmony, so, at least I know where my funds are.
Speaking of funds ... the tour.
The @FuzzFinance splash-page, at https://fuzz.fi/, is the tour, actually. It takes us several places.
We'll explore 4 of them:
1. validator
2. DEX
3. gaming
4. the price ... we're no actually going to GO to the price, we'll just look at it. And pray it goes up. More. 😅
Validator
Let's BRIDGE $AVAX over to Harmony, then SWAP it to $ONE.
Why? So I can STAKE 10,000 $ONE with @FuzzFinance.
Why? @FuzzFinance provides a 1% incentive for stakers less than 10,000 $ONE and a 5% incentive for those who stake in 10,000 $ONE tiers.
DEX
And, after you stake your 10,000 $ONE with @FuzzFinance, you see your delegation incentives show up on their LPs on the Producer page.
I think it takes an Epoch for these boost incentives to show up, so: DON'T PANIC and CHILL OUT for an Epoch, okay?
Sheesh. Kids these days. 🙄
Okay, WHICH @FuzzFinance LPs do we farm?
* ONE-USDS and FUZZ-USDS, obviously!
HOW do we farm these LPs? If you're new to LP farming, that's not so obvious. Let's walk through this step-by-step.
1. Go to Trade > Exchange page
2. SWAP $ONE for $FUZZ and $USDS
3. Go to Trade > Liquidity page
4. Provide liquidity for ONE-USDS and FUZZ-USDS LPs
These next steps are IMPORTANT to earning incentivized yields:
5. Go to The Producer page
6. STAKE your LPs
After you stake your LPs you start to see $FUZZ-yields accumulating in real time.
Some caveats with staking @FuzzFinance LPs.
1. $FUZZ price has fallen 10x since 2022-04-22. My $40 invested then is worth $5. I'm looking at principal invested as pure loss at this point. Caveat Farmer.
2. $USDS: a stable coin that has LOW liquidity so it ISN'T STABLE!
🚨🚨🚨
The last part of @FuzzFinance I'm covering in this tour is the #GameFi page. This page allows you to place $FUZZ wagers or even to create them. You can see one such in progress currently.
How will @fuzz_fi do?
APYs are currently at 600%+, but the liquidities are so low there can be no expectation of maintaining producing yields at these rates, and, in fact, rates are down from 1000%+ 2 days ago.
I've invested $400 into @FuzzFinance and will monitor this protocol.
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