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High-Risk Play Of The Day - PolyFund Farm Review [Polygon]

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Disclaimer: Your funds are your responsibility. All information in this article is reflecting my own investing strategy and should not be taken as financial advice.

Aping is definitely not the way to go if you are trying to build a strong portfolio, but every once in a while you should test the waters for potential "easy gains". Today is that day and if you are on Polygon, get your micro-stakes ready. It's aping time.

At the time of writing, there is still 10+ hours to go before farming on PolyFund starts. Out of all the zombie-farms that are launching this week on Polygon, this one seems like our best bet for several reasons I will list below.

How?

If you are a complete beginner, instructions for Polygon farming can be found here.

Why?

There is nothing special about this one and I will not be surprised if it doesn't last for more than a week. However... There is a twist to PolyFund.

The token has already been minted and the total supply is sitting at 100k. There are ~140 holders with only a few holding more than 2% of the supply. Now if we take a quick look at the price chart we can see that at least a few of them are already in profit territory but there isn't much selling going on. I suspect that this could be due to the max supply of the Fund token being capped at 1M. Now, this is something all farmers love to see.

Those that know how quickly PolyCat became (and still is) one of the biggest farms on Polygon also know that this success is mainly due to the maximum supply of 3 Million Fish tokens. There is something about capped farms that makes people trust them more for no big reason, but there is also opportunity in this swirl of confusion.

The bottom line is this - If those that are in profit wanted to dump we would see more volatility. Due to a low emission rate and low max token cap, the initial dump wave after the farming starts shouldn't be as dramatic as you would expect.

Investing Strategy

Earning shitcoins is always better than paying for shitcoins. That is why I wouldn't recommend buying this token before the farming process is in full swing. The pools have a variety of options so I will just go with the one that has the least deposited funds as soon as farming start.

  • Deposit no more than 5% of your available farming funds. APR is likely to be high at the beginning so there is no reason to risk a lot of funds with unaudited contracts.

  • Harvesting will be available 6 hours after farming starts. Harvest as soon as you can and convert all earnings into the token you deposited. This should be enough to cover the 4% deposit fee and maybe even give you a small profit. Rinse and repeat with no additional deposits.

  • If the token price turns out to stay stable after 24 hours, consider depositing all farming rewards into the FUND pool.

Consider risk-reward ratio at all times.

Reasoning:

Their social media channels seem to have a respectable amount of organic activity. Although there may be no long-term value to this project, their social media reach may keep recruiting new farmers and bringing more liquidity consistently. Being among the first few in that scenario should be a rewarding experience for both you and your portfolio.

Risks Involved

According to their docs the first audit is still pending meaning that the contracts may be exploitable. Limiting your investment is a must.

There is a lot of information that can be found in the documents but they are still very bleak. The roadmap is not very exciting as "Collaborations with other projects" seem to be the most ambitious goal. You simply can't expect too much from a roadmap like that.

Social media accounts are fairly new and most of them were created last month meaning that there was no big planning behind this one. As expected, Github activity is very low with only 5 commits so far.

The first harvest will be delayed for 6 hours. If the APR stays high the price could perform a nose-dive. Highly recommended to take that into consideration because if you are late to the party you may not make that 4% deposit fee back in a while.

Jerry Rating - 6/10

PolyFund definitely doesn't look nor feel like a gem but it is still worth a shot in my book. Price activity and social media activity indicate a fair amount of interest which should result in more holders and farmers during the initial stages.

If I rated farms with words this one would have been a "meh".

PolyFund Home Page With Jerry's Referral Link

PolyFund Home Page Without Jerry's Referral Link

Posted Using LeoFinance Beta