Achievement PARA8OLIC League
@AchieveLeague
π΅πΉAgressive Investor βοΈ Helping crypto adoption to grow. Be your own bank. #privacymatters @monero $ARRR. @unizen_io $ZCX, #MultiversX and #silver bull.
27-09-2013 21:30:09
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trizzytrann Wesley Kress, MBA, MSOM π₯ β‘οΈ X Exchange Michael Kress Β©β‘οΈβ³ππ₯ mex dropped a bit in value but im earning an estimate of 75$ daily..a bit more maybe
@DanTheNexusMan Achievement PARA8OLIC League Wesley Kress, MBA, MSOM π₯ β‘οΈ X Exchange Michael Kress Β©β‘οΈβ³ππ₯ yeah APY is calculated as compounding 1x daily - so if you compounded your daily rewards through the year, you would achieve >10,000% APY (it may seem small but the daily earned amount compounded will be a substantial amount once prices move back up)
trizzytrann Achievement PARA8OLIC League Wesley Kress, MBA, MSOM π₯ β‘οΈ X Exchange Michael Kress Β©β‘οΈβ³ππ₯ So in theory, the 5k mentioned, at say 10,000 apy, with No price move. Would be about 100 X the $5000 value over the year correct?
Assuming no upward price movement in #egld = $500,000 in a year ?
@DanTheNexusMan trizzytrann Wesley Kress, MBA, MSOM π₯ β‘οΈ X Exchange Michael Kress Β©β‘οΈβ³ππ₯ the logic is that yes..but if the APR is decreasing over time...shouldnt the APY decrease as well? in not the best at economics ..
Achievement PARA8OLIC League trizzytrann Wesley Kress, MBA, MSOM π₯ β‘οΈ X Exchange Michael Kress Β©β‘οΈβ³ππ₯ I'm not an economic master either
But Wesley Kress, MBA, MSOM π₯ β‘οΈ is.
I bet he'd know!!
Achievement PARA8OLIC League @DanTheNexusMan trizzytrann X Exchange Michael Kress Β©β‘οΈβ³ππ₯ The APY does, decrease if you see the $MEX only farm it used to be >10,000% but itβs now 1,447% as the APR has dropped to 274%
APY gives you a glimpse into the power of #CompoundInterest
$eGLD β‘οΈ
#Crypto
Wesley Kress, MBA, MSOM π₯ β‘οΈ Achievement PARA8OLIC League trizzytrann X Exchange Michael Kress Β©β‘οΈβ³ππ₯ Ok got you, so the dropping % we see nois actually the Compounded APY, not the simple Apr interest?
@DanTheNexusMan Achievement PARA8OLIC League trizzytrann X Exchange Michael Kress Β©β‘οΈβ³ππ₯ Yes the APY is if you compounded daily 1X.
Wesley Kress, MBA, MSOM π₯ β‘οΈ Achievement PARA8OLIC League trizzytrann X Exchange Michael Kress Β©β‘οΈβ³ππ₯ Ok thank you.
Also for my transfer issue, will update when I hear back from @ElrondNetwork support team from the messages I sent through maiar app.
Silly mistake I'm aware, but easy enough to make for a new Invesetor.
Or someone that doesn't deal with erc2O coins at all...