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Another LP formation I am thinking about. Create my own token QTY 1 with 18 decimals. Pair it to Million Token. Then, instead of holding a bag of Million Token, use MM to buy back my own token from the LP I created. Send those tokens to a paper wallet for safety. I hope that trading MM for a worthless token (that I created to be worthless) shows on the books as 100% loss as far as IRS concerns. Nobody else can dump and take my MM because they don't own any of my new token.
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For example. I know nothing about Great Serbia. I just know I like the people in Serbia with whom I have worked. But the token is blindness to me. I set up LPs that will be used by the Uniswap router when GS is 10X the price of MM. Then I will be "buying" 628 or so MM for less than $0.25 each thanks to how cheap I got in early on GS. If my trap ever works, the worst case is I could dump those back on TL for $1.00 and make a few bucks. I do things like that
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Why MetaFora.App?
Our founder has worked for @Meta & @Google as a TechLead ! - Developed by a coding prodigy - Share your thoughts with a crypto oriented Community - Sign-up & login with your crypto wallet - Stay anonymous @techleadhd has over 1,000,000 followers on Youtube! https://twitter.com/R3wiredM/status/1469405998565707794
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0xfb24f24d5724d5e31742e507fba5ca8be58bac9d
Sorry, I don't know what impermanent loss means. It doesn't bother me. You would have to ask somebody else. But I'm not caring about prices in terms of USD. I'm just racing 2 volatile cryptos against each other because the insane volatility of both creates lots of opportunities for intersection. I'm a beginner at LPs myself. I use my own ideas to think and I never cared to understand impermanent loss.
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New post on Twitter check it out!
https://twitter.com/MetaFora_App/status/1469397894583267334
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Would you be interested to buy a watch backed by an NFT? msg me https://opensea.io/assets/matic/0x72b6dc1003e154ac71c76d3795a3829cfd5e33b9/5413/
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IMHO, why buy the dips when you see MM crashes to your targeted price? Set up a liquidity pool and be patient. LP is a viable alternative to driving up the price with your money that you are willing to throw away. LP is better than staring at the live price action waiting for when you can pounce. LP is like throwin a net in the water and waiting for fish to swim in. You collect fees when fish come in and when they swim back out. Just let your LP sit there and after many events the fees will be larger
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For an example. Imagine Uniswap is a "trading bot" If you add liquidity to Uniswap then you are programming the router paths used to execute a trade. When your liquidity is found to be the most efficient pair needed for the Uniswap trading bot to fill an order, you will collect the fee. Your liquidity pool will be in place and available if needed to be used in connection of two points in the router.
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