I noticed things usually run in cycles. And not like the charts go up and down and halvings and whatnot. But with certain aspects of the ecosystem. Some things survive the cycle and continue having success while others don't/ Like at one point different things have had the hot hand. From NFT's to meme coins to DAO to GameFi, etc. Now the one I'm seeing gaining momentum is things like Drip and other ROI DApps. Not no crazy APY like these DAOs had and burned me on a bunch of them, but the 1% ones. Who knows how long these will last and what the next hot thing will be in 2023 but I expect Drip and most of them to continue moving forward. Especially Drip after like a year and a half of progress and more to come. But I notice more and more chains starting these. Drip on BNB, then I have Bloomify on Avax and I'm currently looking at Ooze Finance on Fantom.
This guy talked about Drip recently and I liked his content so I subcribed and this video on Ooze popped up on my feed.
Have done a bit of research and their UI looks unique.
They look to have a variety of stuff like ooze and slime and LP, not just one thing. I'm just intrigued by the 1% a day thing since I love compound interest.
It looks like there's an 8x limit on deposit but I'm thinking that after that it's just a matter of claiming and throwing back into the pot to raise the 8x limit, with a cap at 50k ooze. There's also XP that can raise it to 12x. Looks like it's just a matter of compounding and building my stack and then re-investing some gains to hit that 50k mark. Using money made to make more money. And I see there's an XP option for going from 1% to 2% daily.
What's this XP stuff all about?
You have 3 different stats to build using XP. You will not be able to get enough XP to fill them all completely. So you have to pick your battles wisely. You will be able to mix and match. You can choose to put a little in one stat and some in the other or max out one particular stat. They are: Speed, Strength, Stealth.
Speed - Increase your daily interest from 1% to 2% max.
Strength - Increase your wallet compounding cap from 8x to 12x your actual deposited amount.
Stealth - Increase the kickback amount from 25% (of the 10% tax taken every deposit/compound) to a max of 75%. That's almost a complete refund of the tax kickback. This is most applicable if you are next to close to the system wallet, or if you join under the biopunks. With the biopunks, you're doing solo play so the kickbacks are set at 2.5% deposit/compound. With Stealth you increase that.
Right now I see Ooze is around 3.59. With possible support at 3.25. I might grab 100 of them when it dips that low and start building.
Hopefully FTM stays stable or runs up before hand.
Good medium article on the XP thing.
Don't know the calculation on initial deposit vs goal reached time. Guess it depends on amount of initial deposit. But 1% of 50k is 500 and with me getting 100 around 3.25 to even 3.50 thats 350, less than the 1% at max cap. I'm sure I would have gotten my initial investment back before that especially if I increase it to 2% and to 12x. A couple hundred invested with some FTM that I have in my wallet won't hurt for long term gains. Let that money grow somehow. Will have to keep an eye on the price and try to get in.
