Didn`t feed the Hamster? STON.fi Will!
Recently, the $HMSTR token got listed on STON.fi, and this already opens up earning opportunities through new liquidity pools where users can earn returns by providing liquidity at a percentage.
There are many pools with varying returns, but I recommend sticking with the first two, which I also chose for myself. Remember the risks: GotBit is the market maker for $HMSTR, so anything can happen. If the other token in the pool drops, it could make things even worse. Personally, I’m choosing the $USDT pool and may hedge my position.
What to do?
- Choose the pool that suits you best from the list above on the website.
- Connect your wallet.
3. To add liquidity to the pool, you'll need an equal amount of both tokens.
For example: if I choose the HMSTR/USDT pool and have 140 USDT in my wallet, I need to exchange half of that for $HMSTR so that I end up with $70 in USDT and $70 worth of $HMSTR. You can buy $HMSTR on a DEX, and there’s an official guide on how to do it.
5. Confirm the transaction in your wallet.
My Actions
I’m writing this article primarily because I plan to buy and hold $HMSTR for a flip, but I also want to multiply my coins. I couldn’t find a better platform for that than STON.fi.
I’m ready to buy more positions without hedging and fully understand the risks. However, I recommend you hedge your position, meaning after buying, open a 1x leverage short on the token at the same time. My previous experiment with $CATI ended in a $17 loss due to price drops, but I made $5 from farming. That’s a net loss of $12. Had I hedged, I would have avoided the price drop and come out in profit.
Thanks for reading! I hope this information was useful and easy to understand. Subscribe to my channel, remember the risks, and make that money!