Who would have thought that I was able to profit because I was broke? Certainly not me, but that's what ended up happening.
Beefy Finance launched a boosted stake thing today and while doing so, they messed up with it. They did it in a way that had the rewards going out WAYYYYYYY too quickly. And someone I knew got in. After cashing out some, they told me about it, and being the broke pleb I am, I put in some little amount that I had into it.
All I ended up getting after fees and such was about $27 of ETH on BSC. And I just staked that. But quickly after that, the contract dried out of rewards for everyone else. They were unable to claim it because being the rich people that they were, they had more to claim than the contract had a balance of.
But broke me could only claim less than the contract's balance. And so thats what I did. I was able to claim about a total of 1.3 SAT, which was worth about $22. Now thats not much, but considering I only put in like $35 before fees, and got $27 of bnbETH out of it as well, its still profit. I was the only one who was able to claim for a while and I still think that I'm the last one to have claims on that Boosted stake. While all those with more than me missed out, I was just sitting there, laughing and claiming.
Aping into things early seems to have a benefit especially more stable things like this(if I wasn't able to get the boosted SAT, I'd still have the ETH and only be down the fees I paid to trade into it and stake it). Things are shaping up into cool new things in the DEFI world and like the ICOs of the last bull run, we have to be careful for exits. Do your own research, and make sure you aren't putting your $ into stuff that's just a scam.
Posted Using LeoFinance Beta