Totaling an earth-shattering 6X in under a couple of weeks, Moonpot braces for lift-off after link-up with Pancake Swap and Beefy Finance.
Moonpot Back Down to Earth?
The token $POTS is now able to be traded, staked and earned via Pancake Swap. Beefy Finance quickly offered a vault for $POTS displaying the true rewards created.
On launch, August 9th, the yield was advertised at 2.96% daily by the Beefy Finance team via Twitter. The announcement of $POTS integration into PancakeSwap set off a chain of catalysts.
The $4.30 to $6.53 catapult move, as documented by Dex Guru, was perhaps much more aggressive than expected but there’s been no cool-down as of yet. This comes after the launch of $POTS a few weeks ago at $1.00.
Moonpot Tweeted its move to Pancake Swap on Monday 18:43 UTC and highlighted the potential to earn:
Crazy APY, Can It Hold?
Beefy Finance POTS-USD Liquidity Pool currently reads 6260% APY. Yes, you are reading that correctly – try the link! But how sustainable those numbers are is another matter.
The Pancake Swap vault deployed on Binance Smart Chain has been incredibly popular with users looking to capitalise on the opportunity after the initial DEX offering.
Conscious of the dangers such moves present, PancakeSwap, was quick to point out the risks of market volatility.
The market has been extremely volatile with the recent Bitcoin rally. It is ever-important to note the small scale of the DeFi market and specifically $POTS.
$POTS falls into the risky category of assets – nano caps. This means the project is sub 50 million market cap and one the smallest type of assets in the broad market.
While this token has seen 600% to the upside, elevated volatility is definitely in question, whether to the upside or downside. Who knows?
Source : bsc.news
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