I’ve been wanting to get started with Defi – I am currently waiting on my withdrawal from Celsius. I’ve tried a couple small transactions and decided I want to try yield farming mostly on Polygon to save on fees since I’ll have a small account.
My hypothetical yield plan with current interest rates would be:
* Deposit MATIC to Aave (5.69%)
* Borrow against MATIC to get WETH (0.2%)
* Stake WETH on CRV tricrypto (3% WETH, ~11% matic, ~11% crv =25.5%)
* Stake tricrypto LP on beefy.finance (56%)
Total APY: 5.69%(collateral) + 81.5%(borrowed asset)
Then, taking just the interest rewards ->
* Stake CRV on beefy.finance (44%)
* Stake MATIC on Aave (4.5%) or Beefy as ETH-MATIC (69%)
Am I overlooking anything? I’m trying to avoid any pump and dump farm pairs/high risk LP’s. Am I on the right track?