I know staking and LP are quite cool ways to earn good money from pools and project transactions but the way projects use people as exit liquidity these days scares me a whole lot. While trying to make more, you have to also consider your financial security so you don't fall victim.
Apart from the vulnerabilities of smart contracts, it is very important to know what projects you're creating an LP for and also keep tabs on them as you can't tell what might go wrong mid way. Nothing is guararnteed these days anymore
Apart from the vulnerabilities of smart contracts, it is very important to know what projects you're creating an LP for and also keep tabs on them as you can't tell what might go wrong mid way. Nothing is guararnteed these days anymore
That's certainly true, mate. One needs to be aware of the risks involved with staking before proceeding. Usually, "meme" coins/tokens are the ones with the highest risk. I wouldn't "stake" them at a liquidity pool because you'll never know when prices will go all the way down the drain in an instant.
Stablecoins, in my opinion, are a much safer bet. They've retained their peg for a very long time. Especially those backed by real USD reserves. You can earn more money this way than a tradional bank savings account. Hopefully, Uniswap remains resilient against hacks for complete peace of mind. As long as it doesn't turn completely centralized, there should be nothing to worry about.
