How I Doubled My Deposit Using the WOWswap Protocol by@youngdegen

How I Doubled My Deposit Using the WOWswap Protocol

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WOWswap DeFi protocol allows traders to trade with leverage. Some users can make their trades by borrowing money from the pool at a certain percentage, while other users can lend their money to the pool and earn on it. The calculation is based on the rate of the rate is determined by the $WOW token holders. The most popular is the pool with $BUSD - on average, the yield there reaches 40-80% per annum. In the end, my $10,000 turned into... $22,000. On the one platform. The amount turned out to be slightly less than if you could just multiply the values above - this turns out because of the accounting of transfer fees.
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Andrey Chekanov HackerNoon profile picture

Andrey Chekanov

DeFi degen and enthusiast

👋Hello, young degens! 

🥵What do you think of the events of the last few days? Many of my friends lost a huge amount of money. Especially those who were heavily subscribed to Terra ecosystem feel sorry. 

I never liked the idea of algorithmic stablecoins and huge profits in Anchor protocol. To me, it seems obvious that when the protocol needed to recruit new users, a return of 20% per year paid out about $100M-$200M per year to early birders. However, when the amount of blocked funds on the platform reached $14B - dragging the unbearable burden of $3B annually became an impossible task for the Terra ecosystem. We saw where this was headed. 

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Fortunately, I was spared the whole unpleasant situation. I withdrew my funds from Anchor immediately after the first alarm bell. losing a couple of percent of my deposit. In addition, over the past year, the most interesting things happened to my deposit not in Anchor, but in a completely different place. Where?

In the WOWswap DeFi protocol. Now, without going into details about the protocol's functionality, I will tell you how the system of passive (almost) earnings from WOWswap works. 

The essence of WOWswap earning method is this - this protocol allows traders to trade with leverage. As a result, some users can make their trades by borrowing money from the pool at a certain percentage, while other users can lend their money to the pool and earn on it.

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The calculation is based on the hourly rate. The size of the rate is determined by the $WOW token holders. 

Example: The hourly rate is 0.1%. It turns out that if a trader takes funds in the pool for 24 hours, he will have to return 2.4% of the amount taken. In this case, members of the pool receive a 2.4% daily return, divided between participants. 

The most popular is the pool with $BUSD - on average, the yield there reaches 40-80% per annum. However, in WOWswap there are often opportunities to place top altcoins with an annual yield over 1000%!

Mostly I keep my money in the $BUSD pool (40%-80% APY). At the same time, thanks to low commissions inside the Binance Smart Chain network, in case of high APY on any asset, I instantly transfer my $BUSD to that asset without big losses. Swap can be done within the WOWswap platform.

So, I started this year by investing a test $10K in WOWswap. Let me remind you, if there are no super-profitable offers, I held them as $BUSD at 40%-80% APY. 

💰A total of 13 days WOWswap gave over 1000% APY on $BTCB - a total of 42% increase to deposit

💰A total of 11 days WOWswap gave more than 500% APY on $ADA - this brought 16% to the deposit 

💰A total of 16 days WOWswap gave more than 250% APY on DOGE - this brought 11% to deposit 

💰A total of 15 days WOWswap gave more than 220% APY on $AXS - this brought 9% to the deposit 

💰A total of 14 days, WOWswap gave over 280% APY on $XRP - this brought 11% to the deposit 

💰A total of 8 days of WOWswap giving over 600% APY on $ETH - this brought 13% to deposit 

😮In the end, my $10,000 turned into... $22,000. On the one platform. The amount turned out to be slightly less than if you could just multiply the values above - this turns out because of the accounting of transfer fees, as well as the nuances of the protocol scheme and the volatility of the $WOW native token in which the rewards are paid. But I think the result is terrific. 

Will this attraction of unheard-of generosity on WOWswap continue? Perhaps until the project will not reach a critical mass of TVL, as it was with Anchor. So if you're into this kind of earning, welcome. and then share the results after a year. 

Important - APY percentages in pools are highly variable. To keep users informed, WOWswap developers have made a convenient notification system via Telegram or email. Be sure to set it up, and then you will not miss any profitable offers. 

As always, the above is not a financial recommendation, but my personal experience. Where and how to place your funds is up to you!

💪Profit to all!

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