'a fool and his money are soon parted' where do fools actually get money? can some smart people explain? and even if they do get some money by chance, I suppose, is it much? is this stuff supposed to work for ,like, lottery winners?? because if I was to part a fool from ONE DOLLAR then certainly I would need a lot of fools bunches! a hunt for lottery winners then! )
one step further..if we deal with one-dollar-fools then there is a hunt for them as they are an easy target..smart, intelligent high IQ people fight WITH EACH OTHER to part a fool from his dolallr! now what?
This is email i received today.... I am one of the low IQ ones, im not sure what sort of scheme this is. But its probably "buy our stuff" .... Below is a hypothetical example of a truncated lifecycle of farming a DeFi protocol’s native token. Let’s assume this is a simple protocol that allows borrowers to deposit Ether (ETH) and borrow a fiat stablecoin Tether (USDT). The protocol launches, and would like to offer USDT loans collateralised by ETH. The protocol's governance token is called CORN. 1,000 CORN will be distributed every day for the next 1,000 days. 75% of the daily CORN tokens will be distributed to lenders proportional to the percentage of the USDT lending pool they represent. 25% of the daily CORN tokens will be distributed to borrowers based on their percentage of daily ETH borrowed. Something very important to know: you cannot buy CORN directly from the protocol. You must participate to earn CORN. Once there are CORN in circulation, you may purchase CORN in the secondary market from willing sellers. Therefore, even when you borrow or lend on the CORN farm, you are rewarded with ownership in the protocol. Imagine if you received shares in your Too Big To Fail bank whenever you paid your overdraft fees, or when you paid 20% in fees to cash your government stimmie check because you are too poor to be a profitable client with a real bank account. My mother recounted that this stimmie cashing situation played out in a blighted section of the inner city. A line formed down the block, during the previous height of COVID, consisting of poor citizens who had no bank account, weren’t wearing masks, and paid $200 of fees to cash a $1,200 government check. Disgraceful. As a lender of USDT, you connect your browser’s Ethereum network wallet to the CORN web3 site (a popular wallet is Metamask). You approve the connection, and then elect to stake – i.e., allow CORN to lend out your USDT. CORN will pay you an interest rate in USDT by collecting ETH interest from the borrower, and converting it using a Decentralised Exchange (DEX), such as Uniswap, to convert ETH into USDT at the prevailing exchange rate. All this is done programmatically. If you are a borrower, you again connect your wallet to the CORN platform in the browser. Instead of staking USDT, you stake ETH as collateral and then borrow USDT and pay a continuous rate of interest in ETH terms. To repay the loan and receive your ETH collateral back, you send the USDT you owe to the CORN protocol. The CORN protocol will enforce a minimum leverage ratio based on the external price of ETH/USDT. If, as a borrower, you breach the minimum level, the ETH you put up as collateral is programmatically sold on a DEX. As long as you are lending or borrowing, meaning you have USDT and/or ETH staked on CORN, you are continuously being credited with CORN tokens. The CORN token represents a fraction of ownership of the CORN network, giving its holders voting power to change the CORN protocol and terms of operation, as well as a percentage of interest fees charged to borrowers. The CORN token has a value determined by the marketplace based on the above traits and can be sold on the secondary market for that price. To find the appropriate price you could construct a discounted cash flow (DCF) model that forecasts total value locked-up (TVL) and uses an assumption on the type of fee income for CORN that will generate. Plug in a discount factor, and boom you have a “fair value” for the CORN token. This is why TVL is the most important statistic for any DeFi project. The more TVL, the larger the assumed future fee pool, the higher the token price trades.