Yesterday I finally retrieved the CAKE staked on pancakeswap, which had been staked for 4 years.
In 2021, I learned about DEFI gameplay, studying single-token mining and dual-token staking. Group LP staking has impermanent loss, so I opted for single-token staking, but didn't expect single-token prices to also go to zero.
Staking yields a certain APY, but it can't counter the decline in token value.
At that time, I bought CEKE for $20, and now CAKE is priced at $2.6, down 87%. The APY earnings over 4 years are less than 1 CKAE.
I remember other staking projects, $TIA , ATOM, DYM have all dropped by 90%, and staking rewards have yet to be seen, while the tokens have almost disappeared.
Choosing the wrong asset means it's just a matter of time before it goes to zero. If I had bought $BTC , it would have multiplied several times by now.
Every crypto player has to go through some pitfalls and pay some tuition. Whether here or there, the tuition can be from a few hundred to several million.
In decentralized blockchain, paying tuition can be quite painful. Only by paying tuition and learning lessons can one possibly avoid it next time.
Some have had their wallets hacked and assets go to zero; some chose the wrong platform and lost everything; some experienced contract liquidations and went to zero; some bought a Pixiu and paid tuition on-chain, etc. #山寨季來了？
Some people choose the wrong asset and end up losing more as they play.
Some people also encounter crashes while playing alpha and have to pay tuition while playing.
BTC has been continuously rising, reaching new highs, while many altcoins have either halved or gone to zero. Initially, I wanted to make a big profit, but ended up getting stuck again and again.
I have been following the crypto market for over 4 years, and the players around have changed repeatedly. Only a few remain, and those who make a profit will stay.
Those who lost everything leave with regrets, while newcomers enter with dreams of 'getting rich overnight.' Most of them end up paying tuition and leaving, with only a few learning and making money to stay.
The crypto market brings more opportunities but also greater risks. The speed of losing money is as fast as making money; people can only earn money within their understanding.
I am a beginner in the chain, focusing on the crypto market and the coin circle.
