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CAPY - Defi Project with over 1 million % APY

#1

Anyone following this? The project started yesterday and there’s almost $800,000 USD locked into the project so far.

It’s trying to be like Yearn.Finance I think but there is no identified owner.

Concept is you lock your deposit in for 72 hours and earn CRAZY rewards in this new Defi token. The rewards are potentially massive as are the risks involved. It’s probably too late for any newcomers to get much out of it unless the project actually succeeds and the “investors” keep their deposits in the project and the Token retains its value.

Thoughts?

6 Likes
#2

With this, I think gambling rules definitely apply. Don’t put in more than you’re willing to lose. If it’s a scam and you lose, no big deal. If it’s legit and you win, could be a huge deal.

Here’s the code for this project if anyone wants to review.

4 Likes
#3

Welp this is gonna be an interesting ride. Seems like a pyramid scheme. The last guy in will lose out. We will see.

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#4

I agree. Anything promising insane rewards is highly suspect. It will be interesting to see how the next week plays out as people start selling their rewards.

Here’s the CAPY/ETH pair on Uniswap. Current liquidity: $815,787.

1 Like
#5

I’m throwing $500 at it and seeing if it sticks. Waiting for my transaction to go through from Incognito.

@FutureMiner / @Gold Either of you put money in it?

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#6

Yeah, I put in a tiny amount, under $200. I’m definitely curious, but way too wary to invest much. I think your $500 sounds like a reasonable amount.

My feeling is, I’ll feel stupid either way: if it’s a scam, I’ll feel stupid; if I miss out on insane rewards, I’ll feel stupid. So I’ve got nothing to lose. :smiley:

2 Likes
#7

Exactly my thinking. Alarm bells tell me that I know this is too good to be true. 1.5M% is not even practical. 150% wouldn’t even be practical!

Yet I’m looking at it like this. Even if CAPY token drops to mere pennies I’ll still have the half of my investment that is ETH which should still hold it’s value. That is as long as the contract is solid.

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#8

I put a few bucks in to see.Tuesday morning will be the proof. Will have to see if I reinvest more then

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#9

@Gold @Jared
I found out about this project from VoskCoin, put in 1 ETH Friday evening so I’ll be able to withdraw in about 26 hours.
Based on the way the discord is talking this is a big human nature experiment, sorta.
If the people who got in right at the start withdraw everything then it’s going to show off greed. If everyone leaves in their deposit and re-invests then it will last longer and more people will be able to get out their rewards.
I’ll be crowing from the rooftops if this works out, and sadly disappointed if it crashes Monday morning.

1 Like
#10

Yeah the way they are talking in the telegram Capy group sounds like a blood bath of everyone trying to screw over the investors who came after them. Not understanding that if everyone pulls the drain plug then the entire thing goes down.

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#11

There was one guy on the discord trying to get everyone there to join a pact to deposit 2 ETH after withdrawing rewards. I think I’m gonna do something like that if it’s not completely destroyed by time my reward unlocks.
Then I’m gonna deposit my rewards in the Provide tab and watch my rewards grow.

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#12

@FutureMiner, that’s a great movement to start. If this is an experiment in human nature, then creating our own incentives and initiatives will be key in encouraging healthy behavior for the project.

1 Like
#13

Say hi to a glorified ponzi scheme with a 3 day vesting limit. Launched 3 days 6 hrs ago at this current time. All the liquidity you are putting in from now on won’t be coming back to you but to the individuals who got the starting tokens right around the 2 days ago mark. Once the pool is drained of liquidity you won’t be getting anything for that CAPY token.

Nothing like negative volume and fees! I’ve never saw nearly half the volume being sucked so hard.

Don’t gamble like this guys. If you want to lose your money you can just give it to me.

4 Likes
#14

Yes but you don’t give the illusion of us making our money back :grin: :rofl:

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#15

Definitely appreciate the warning, and I don’t think you’re wrong. I do think we’ve all entered into it with eyes wide open. I’ve invested such a small amount that if I lose it, it’s a negligible loss and a valuable lesson.

1 Like
#16

If you give your coins to me I’ll give you the highly valuable and delicately mined from thin air coin called AWESOME APPLE (AWEAP). It’s the peak of all yield farming! Totally not a pozi scheme wrapped up as some great investment to grow your funds. We have ALL the liquidity. How much you might ask? Don’t worry about that. Just hand your coins to me, sit back and relax. Dream away what great life you will get to life from all the residual returns. Our patent pending vampire protocol is totally not a rip off of sushi swap with higher yields baked in.

Unsustainable? BA! Dream a little. Get in fast! Every AWEAP token is going to the MOON! Put in $1 get ∞ out! Live the dream today.

5 Likes
#17

I’m almost sold. But what APY do you offer? :thinking: :thinking: :thinking:

#18

Like our Liquidity. Our APY is ALL OF IT. ∞ and beyond!

1 Like
#19

tenor

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#20

canvas

Who knew ∞ yeild was not sustainable. It was over before it ever began.

3 Likes