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.
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? @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
These next steps are IMPORTANT to earning incentivized yields:
5. Go to The Producer page
6. STAKE your LPs
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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