Thread by @sanket_naikwadi

Aren't you folding with @burrowcash yet??

🧵Well, here are some basic plays to start your journey as Foldooor on $NEAR... or shall I say Burrowerrr?
cc: @rimberjack

You can use this to Earn Passive income with minimal risk & in some cases, free lunch on burrowed money, haha...

Deposit APY on $DAI is insane on Burrow. ~11% at the time of tweet (been consistent 9-11% from past few days)

Besides those Juicy APY, you earn $BRRR Tokens as well.

I'm sure most ppl must've been in it already. This thread is for beginners, so they can join us, Degens.

1. Stablecoinerrr like @DegenSpartan

- Convert your Stables to DAI via @finance_ref
- Deposit those on Burrow.
- Borrow USDC/USDT against it at ~7% Interest rate
- Swap those to DAI & deposit back to burrow.
- keep foldinggg

Congrats, you've started your journey as Foldorrr

1.5. StableCoin Farmerrr

- You can follow a similar strategy like stablecoinerrr.
- but rather than doing multiple folds, you can do a few folds like 2-3 folds
- then can farm rest stables on @finance_ref for ~20% APY at time of writing (it's variable)

2. #NEAR Holdorrr

You can do this if you're holding $NEAR for short to mid-term.

- Deposit into burrow, ~3-4% APY, can withdraw anytime
- Borrow USDC/USDT (max 50% worth of collateral to be safe)
- Swap to DAI on REF & Deposit Back, can fold as well depending on ur risk profile

3. $NEAR Stakerrr
If you've stNEAR.

- You can borrow $NEAR against it & stake it again as stNEAR.
- Keep Foldinggg & you can make that loan as a self-repaying loan over the long term.

P.S.- For this to work borrow rate must need to stay low than Staked Earnings (<11%)

Risks Involved & Things to look out for.

- There are Smart Contract risks always, so dont ape in with the entire portfolio and keep risk managed.
- Also, try to keep Health Ratio as high as possible to avoid liquidation; I've kept 180%+.
- Avoid Borrowing Max of LTV.

You can do pretty much similar stuff with other assets as well, like Stablecoins play with $DAI.

Once you get the hang of it, you'll know what to do.

If you want more content like this follow @sanket_naikwadi

I hope you've liked this thread, do like, rt the first tweet below.

https://twitter.com/sanket_naikwadi/status/1515027583947055105