Hold NFTs to increase your daily ROI
My investing approach is all about diversification, spreading bits of money across various assets that can individually generate passive income.
This strategy includes investing in the higher-risk DeFi plays, but not indiscriminately; this defi project comes from a fully doxxed team with a good track record.
Degenz is part of the Monstro’s ecosystem and is a daily Return on Investment (ROI) decentralized application (Dapp) on the Binance Smart Chain. Launched on December 27, it allows users to earn a daily return on their investment by contributing liquidity to a specific protocol or pool.
The platform has taken off and currently has a higher deposit value than the famous BNB Miner that’s been around for years.
How to Get Started
If you’re familiar with similar dapps you will know how to get started;
- Go to the website
- Connect your wallet on the Binance Smart Chain via MetaMask
- Enter how much BNB you’d like to deposit (see image below)
Once you have successfully deposited your BNB, you should get a confirmation message like this:
Compounding and Depositing: Maximizing Returns
You can compound or claim your daily rewards…
How Degenz Operates and Rewards
Degenz brings transparency and security to the world of DeFi. The Monstros team, fully doxxed, has a track record of successful projects, and Degenz’ smart contract is audited by Spy Wolf. Here’s a quick overview of how the project works. When you deposit, 50% goes into the contract’s liquidity pool, 30% to Monstros yield farming, and 20% to referrals and marketing.
The project caps rewards at 300% on deposits, sustaining it for as long as possible. The base reward is 2% daily, with the potential for an additional 2% if you hold specific NFTs from the Monstros ecosystem. A personal bonus of 0.1% is awarded for every 5 BNB deposited or compounded, up to a maximum of 2%.
Risk Mitigation: No Lose Guarantee
Now, the big question: What are the risks, and how much can you lose? Here’s the kicker — you can’t lose with Degenz. The project has a no-lose guarantee. When the project reaches its peak and no new funds flow in, halting daily payouts, users transition into Phase 2. Here, every investor in the red gets a special edition Farms NFT, representing the owed amount in USDC. Weekly airdrops of real yield from the Monstrous Farm yield farming project follow until the profit cap is satisfied.
Final Words and Action Steps
To sum it up, Degenz is a defi dapp that comes with inherent risks, however they seem to have done their best to make it as “safe” as possible. If you enjoyed this article, please give it some claps (up to 50 claps) and make sure you are following me on Medium. Thanks!
BNB Strategy #2: The Slower, Safer BNB Play
For a more conservative approach, I allocate a portion of my BNB to Nexo—a platform renowned for its excellent security and impressive APY returns.
Here are some of the notable perks offered by Nexo:
- Up to 18% annual interest
- Unique daily payout
- $375 million insurance on all custodial assets
- Flexibility to add or withdraw funds at any time
- Military-grade security
- Real-time reserves audit by Armanino
Nexo also has its native coin, $NEXO, which increases the interest rate earned on other assets when held. By staking assets for 30 days, you can further boost your APY.
Currently, Nexo offers an 11% APY on flexible staking of BNB, allowing you to withdraw your principal at any time. Unlike mining, where the initial deposit is tied up, all your funds are available for withdrawing or trading. Nexo provides a safer and slower approach to growing your crypto assets.
Explore the possibilities with Nexo and start earning with your BNB.
They also have a great way to get $25 in free Bitcoin.
- You sign up with Nexo via a referral link.
- Verify your identity and top up at least $100 in assets and maintain the USD value for at least 30 days in your account.
- Both you and I will earn $25 in free BTC! Your reward is instantly available and will be unlocked after 30 days of your initial deposit.
- I have tested this and can verify that it completely works. Follow those 3 steps and, after 30 days, $25 of Bitcoin will be added to your account.
As always this is not financial advice, just findings based on my research. Remember to only use risk capital.
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Disclaimer: This is not financial advice, the information in this article is for educational purposes only. Never invest what you can’t afford to lose. I disclaim any liability or loss incurred by any person who acts on the information, ideas, or strategies discussed in my articles. Do Your Own Research.