Thread by @Crypto8Fi

The $FTM - $BEETS strategy is ready.

Here is my yield farming strategy in this bearish environment.

This is a step-by-step guide.

APY 20-370% (depending on the pools).

/THREAD

This is not financial advice.

Always do your own research.

My take is:

"hey anon, found some cool projects on $FTM that aren't hugely popular check em out."

This strategy is a short-medium yield strategy.

Protocols often innovate and TVL ends up migrating across platforms.

That's why I am here, to help get you to the new protocols as early as possible.

The DeFi space has only really taken off in 2021.

Innovation will continue.

Beethoven is an AMM that is also a "Balancer" fork on $FTM.

Some features include:

📈 Weighted Investment Pools

💵 Stable Pools

💸 Earn Protocol Fees

Let's talk about the pools...

The interface is slightly unusual.

This should serve as a guide to invest in whichever pool takes your fancy.

The pools include 2+ assets, which are weighted across assets already and are not strictly 50/50.

Let's get into the pools.

1. Add FTM to your MetaMask wallet.

This is the way to get you started on connecting to the Fantom Opera Mainnet.

docs.fantom.foundation/tutorials/set-…

2. Start checking out the available pools.

Following this link- beets.fi/pool#/pools

You will be able to see all available pools on $BEETS.

Choose a pool.

For the tutorial, we will look at "The Fidelio Duoetto"

You can sort them across: Pool Value/ Volume(24hrs)/ APR

3. Pools continued.

Following this, ensure you have FTM balance in your Metamask.

If so, you will be able to click "Invest".

This will then take you to this page with all the assets in.

4. Only one asset.

You only need to have one of the value of the assets in the pool.

@Beethoven_x will make the split across the rest of the tokens for you.

Simplicity and easy UI.

Think of how small things like this will attract TVL across $ETH pools for example.

5. Once $FTM is deposited.

You will be given the ability to edit and change the weighting of the pool across your assets.

Although, they have given suggestions- indicated by "proportional suggestion" in the picture below.

6. Drawbacks.

Other than the risk of one sided impermanent loss.

The protocol experiences a slightly greater price impact of roughly 0.8%.

This is due to, and is more frequent in pools with a larger quantity of assets.

7. Confirm Transaction.

You will then need to confirm the transaction in Metamask.

Prior to confirmation, you will be able to see a weekly return comprising from both:

-Fees

-Liquidity mining

You are now earning swap fees but not LP fees.

Let's continue...

8. Farms.

Go back to the main homepage on $BEETS website.

Click farms.

Deposit your BPT token (bottom right)

Confirm the transaction- fees should be <4 cents.

That's it.

You are now earning your APR on @Beethoven_x.

Some important considerations to mention below considering market conditions.

As with all yield farming, there are risks.

The most prominent risk to take into account are the current economic conditions.

Inflation, interest rate hikes etc...

The impacts flow into DeFi and can easily cause impermanent loss.

A good read on macro:

https://twitter.com/InternDAO/status/1495753883330785281?s=20&t=GIQuiZrbcs7p2rnXsTsGjQ

If you enjoyed this,

Please follow me: @Crypto8Fi for more threads on DeFi, projects and the latest alpha.

Also, if you enjoyed this thread please do me a favor and RT to get this out.

I also write on Medium that goes more into depth on DeFi concepts.

medium.com/@crypto8fi