DeFi Degen Megathread

Hello Ergonaut Degenerates (degens),

This is a megathread for decentralized finance on the Ergo blockchain. Learn and share from each other.

Post your loss porn, degen gains, insider knowledge, tips, tricks, strategies, schemes, smart contracts, pumpenomics, and anything relating to DeFi on Ergo.


Opportunity for free ERG: Sell your kushti tokens on Spectrum Finance

The tip token “kushti” is an Ergo native asset named after core developer and co-founder Alex. Alex uses “kushti” as his code name. The token kushti is given out on Ergo social media (Telegram group chats, Reddit, etc). You can earn this for free from community members.

Recently, the price of kushti tokens has skyrocketed, 469.73% relative to ERG

^ERG / kushti trading pair on Spectrum Finance

Go over to Spectrum Finance and you can sell kushti for up to 94 ERG.

As you can see, 70% of the pool liquidity is locked until March 2024. If you want, you can add your own liquidity to the pool, and earn fees any time someone buys or sells kushti. Make sure to lock up your liquidity for at least 1 year. This will help build a robust liquidity pool, but will almost certainly result in impermanent loss. Locking up kushti liquidity is just a meme way of contributing to DeFi on Ergo.

Opportunity for moderate gains: Provide ERG / SigRSV liquidity on Spectrum Finance

The token “SigRSV” is part of the SigmaUSD DAO. This has been audited by Ergo core devs, and serves as one of the few truly decentralized stablecoins in crypto. Despite bear market conditions, SigmaUSD has maintained its peg to the US dollar.

Why is ERG / SigRSV a good LP position? ERG and SigRSV tend to go up and down in price together. This price action minimizes the risk of impermanent loss. Additionally, Spectrum Finance will soon offer yield farming on this pair. You will earn SPF tokens by LPing ERG / SigRSV.