Possible New Defi Project With a Wrapped STEEM Token on TRON

in #steemtron2 months ago

Hola Steemians!

As the marketing train is going, we like to discuss some options when the STEEMJ token becomes available on the TRON blockchain. I know, we are not there yet, but let's imagine it is deployed. :)

STEEM GOES YIELD FARMING

yield farming steem.png

Some say Defi is dead, but the reality is that it is just getting started. The panic that is created the past days in the crypto market is pure manipulation of whales that like to eat your crypto for breakfast, lunch and dinner. Hold on and fill your bags!

What is yield farming?

I will try to explain it, that at the end of this paragraph, you are able to educate your granny about yield farming. You stake tokens on Dapps to get other, or the same tokens for free. Same as on Steem, so for us this is as easy as 123.

If we can get the STEEMJ token to get listed on one of these platforms, there will be increased demand as people will buy our token to yield some kind of veggy-, fish-, or fruit -token. These yielded tokens can be sold, or staked to earn more yield.

Let me know what you guys think!

HE Devs, can You build This?

I like to ask the Dev's (I will contact them personally as well) if we can build this type of dapp, once our STEEMJ token is listed on JustSwap? We can invent a wierd token name, and let people yield farm that with wrapped STEEM!

We as Steemit community can chill the F out this project to get a massive exposure to the project. This will soar our price, plus people will get to know about STEEM and Steemit in general!

Some Examples of Yield Farms on TRON

  • Everybody has heard about Sushi Swap, but have you hear about Salmon Swap? This is the Tron version of it and is extremely popular. Check: https://salmonswap.io

  • https://jackpool.finance is another one on my yield list. Here you can even stake stable coins in times of recession!

  • https://pearl.finance was one of the first I started my farming ventures!

  • There are even more, but launched as of today and I already started farming this bad bod, is https://sriracha.io. I LOVE this sauce so I got to have it!

  • Who doesn't like a carrot? Here you can also stake tokens and earn Carrot tokens for it! https://carr.finance/

THIS IS NOT INVESTMENT ADVICE! THIS IS ALL RISKY BUSINESS AND YOU MIGHT LOSE ALL YOUR CRYPTO.

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Hi @steemingcurators and thank you for another interesting topic. I have tried to understand what that should mean but somehow it is still not really clear for me, that is why can't really tell if I am pro or contra. Will try to surf a bit and might come back :)

Hi babe! Well, MMA's (like JustSwap) need liquidity to trade. To do so, people are incentivized to stake their tokens on platforms like jackpool.finance and get some kind of token in return. We can create such project, if we have a wrapped steem token that is linked to steem (at least the price). It will create demand as you can see all defi related tokens pump (when there is a pump :D)

you are the PRO

I do know that :)

hahhaha yes you are

Why do you think it will moon the price of steem? There must be demand for it in order for that to happen correct? What is going to cause people to chose wrapped STEEM over the many other wrapped coins/tokens out there?

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