8% Daily BUSD? — 10 day Update! The real deal about BUSDCropsFarmer!
10 days ago, I did my first deposit into BUSDCropsFarmer (all links embedded with referral), and I have been quite pleased with the results. This article will detail my results and my strategy going forward.
Disclaimer: My experience won’t necessarily be your experience. Please do your own research and don’t invest money that you can’t afford to lose.
When I first saw BUSDCropsFarmer, I thought “here goes another decaying miner ‘game’.” And, I kept scrolling. But, I saw it again, recommended by a colleague who said this one was different. So, I started investigating. It is billed as a miner game site that has mechanisms in place to protect against whale dumps. The miner game category of DeFi is a dangerous one. High interest rates and optimism quickly become problematic when whales begin withdrawing at high rates. The contract balance dwindles, until you wonder if it’s even worth the gas fees to continue to compound. Personally, I am in 2 miner games from Fall 2021 that I still look at every once in a while, hoping for signs up life (spoiler alert….no pulse).
So, why should I expect this one to be different? Won’t the whales just drain this one, too? Will the built-in mechanisms actually protect the contract balance, forcing people to play the game “the right way”?
Also, I should declare that I am not a 6:1 player. (Compound six days in a row, withdraw on the seventh). Frankly, I’m playing with money I want to see grow. So, I am more like a 200:1. I plan on compounding for a long, long while to see what kind of daily returns I can get.
I deposited $115 on Thursday, April 28. And, after 10 days, I now how credited $269 in deposits. All from that first $115 investment. So far, it’s worked as advertised. I have made 8% per day. Actually, more than that, because 8% a day for 10 days compounding would have been $248. That’s because the site awards bonuses for continuing to compound, and they do make a difference.
Every day, I compound, or “hire” new farmers. And, every day, my balance increases. But, I also know that I can’t actually withdraw that at one time, so what does the “total deposit” actually mean?
Here are some numbers that reveal that actual truth about the site:
When I deposited, I started with around 1000 Farmers. Today, I have 2200 Farmers. The farmers are what actually matter, because that’s what produces the BUSD “crops”. So, I have more than doubled my farmers. But, again, what does THAT mean?
There’s a key metric that it boils down to. What would $115 get me TODAY? And, the answer is right on the site:
If I deposited $115 today, it would get my 1777.61 Farmers. And today, my $115 is worth 2216 Farmers. So, I have made 24% in Farmers. Which, taken over ten days, is 2.4% a day. Not quite the 8% a day promised. But, it’s still growing. And I find that encouraging!
My daily BUSD withdrawal available has risen from $8.5 a day to $11 a day. Also encouraging.
Also, I’ve been watching the contract balance, the total BUSD locked. And, it has remained remarkably consistent. The anti-whale protections actually seem to be working.
When I started, the contract balance was around 1,390,000. Today, it is at 1,415,329. It’s actually down from a peak around 1,450,000, but it’s certainly not draining like BakedBeans, or other miners these days.
Can it survive? If it continues to get new investors, I believe absolutely. I will likely start a 6:1 plan when my daily withdrawal approaches $25. That way, with a month of 6:1, I should be able to withdraw nearly my whole original balance while remaining healthily invested in the future.
Can I recommend BUSDCropsFarmer? Honestly, yes. I wish they would advertise their rates as 2.5%, and not 8%, because while it looks really pretty to say 8, it’s not accurate. But, with anti-whale protections, and a contract balance that is thus-far consistent, I am optimistic that BUSDCropsFarmer will stick around for a while. At least long enough to make a profit. And, that’s why I’m here.
If you would like to learn more about the anti-whale protections, I encourage you to view my previous article on the subject: https://medium.com/@jyrrcny/passive-income-a-busd-miner-that-works-anti-whale-anti-dump-its-here-101bdc13ceec