Crazy DeFi player: All in YFII, I made 2 million with my "wife book"

深链财经

特邀专栏作者

2020-08-31 19:02 (UTC+8)

This article is about 4936 words, reading the full article takes about 8 minutes

If you have held YFII from the very beginning, is it already wealth and freedom now?

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If you have held YFII from the very beginning, is it already wealth and freedom now?

Editor's Note: This article comes fromDeepChain (ID: deepchain-eva), Author: Liuliu, reprinted by Odaily with authorization.

Editor's Note: This article comes from

DeepChain (ID: deepchain-eva)

, Author: Liuliu, reprinted by Odaily with authorization.

YFI and YFII exceeded expectations once again this past weekend.

On August 30, YFI rose rapidly from $14,000 two days ago to the $30,000 mark, reaching a peak of $38,855.31, a two-day increase of up to 277%. It is worth noting that YFI has risen tens of thousands of times since its launch, and thus broke through the previous record of $20,089 held by Bitcoin, becoming the currency with the highest price in the history of cryptocurrency so far.

Coincidentally, YFII, a fork coin of YFI, also started to skyrocket at the same time. From around $1,300 last Friday, it rose to a maximum of $5,969 in just two days, a two-day increase of up to 458%.

The popularity of DeFi and the birth of YFI and YFII have brought many myths of getting rich to the entire industry.

For this purpose, DeepChain interviewed 4 investment stories related to DeFi.

Some of the protagonists in the story borrowed money to speculate in coins, some used their marriage money to buy YFII, some made money, some sold off, and some suffered heavy losses...

All wealth comes from cognition and luck. There are risks in the currency circle, and you need to be cautious when depositing.

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Loan to buy YFII

"It's too difficult for me. I worry about gains and losses every day."

Wang Yu (pseudonym) is an engineer in the blockchain industry. He has been in the industry for three years, but he is always timid.

Because he is in debt.

Mortgage loans, car loans, credit cards, small loans, online loans, usury loans. Wang Yu checked his own credit records and obtained a total of 25 loans.

Although the salary in the currency circle is high, it is becoming more and more difficult to afford the monthly principal and interest.

It is precisely because of this that Wang Yu wants to invest with the little cash flow in his hand.

Coupled with the hotness of DeFi, the rapid trend of YFI currency price makes Wang Yu envious.

"Even if you can't make a lot of money, at least you can make more money and pay back the loan."

Investing to make money is to repay the loan, and if you want to earn more, you need to continue to take out small loans.

Wang Yu struggled with this question for a long time.

What really made Wang Yu determined was the feat of another blockchain peer borrowing money to play DeFi.

They are also highly leveraged. If others can borrow, so can I.

Just do what you say, Wang Yu took a special day off on July 20 to go to a bank lending institution to borrow money. Because his own credit is too poor, the bank is only willing to lend him 30,000 yuan.

"30,000 is 30,000, it's better than nothing."

After that, on August 1, Wang Yu bought 20 YFIIs at a time when the price of YFII was 300 US dollars, together with his own few more than 10,000 yuan.

However, what followed was the sharp drop of YFII. YFII soon fell below $300, and fell to less than $100 at one point, and thus started a sideways period of about 20 days.

"I'm a little dizzy. My leverage is already very heavy. If this wave of investment is locked up, what should I use to repay the debt?"

After that, Wang Yu was worried every day.

In addition, Wang Yu listed all his arrears from time to time to plan his own repayment plan after YFII was trapped.

Wang Yu found that 85% of his monthly income would be used to repay debts.

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In the past, there has always been a saying in the industry that one day in the currency circle is one year in the world, which means that in the field of cryptocurrency, the conversion frequency between sudden wealth and sudden poverty is too fast, there are too many stories, and it is too "wonderful".

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