Staking my $PIZZA Tokens on Vft Lab

in LeoFinancelast year (edited)

So, MusicForLife Tribe has created Vft Labs (https://vftlab.finance/), a place to stake your Hive and Hive-Engine Tokens and guess what...

One more token was added in the Vft Lab "Farms" yesterday and that's $PIZZA. $PIZZA holders can now deposit their tokens on Vft Labs for a really inviting APR and earn $VFT tokens in return.

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(VFT Farming Stats : https://vftlabdashboard.netlify.app/)

How to deposit

It's really easy. Just go to https://vftlab.finance/, log in with Hive Keychain, click on "Farms", create a wallet in the "farms" you are gonna use and then deposit your tokens easily with just a couple clicks!

The deposit fee is 3% for most tokens so keep that in mind while adding more tokens in your farm.

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One more cool thing I'd like to mention is that Vft Labs are also into #NFT and have their own special #NFT Store.

Why it's special you may ask? Well, that's because these NFTs are music NFTs! This means that every NFT you see there comes with a tune so it's like buying music and the best part is that you can pay with the VFT tokens you just farmed!

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Read more about Vft Lab NFTs : Music NFT for VFTLAB


What are you waiting for?

Go stake your tokens and especially your sweet $PIZZA ones! They have the most lucrative APY right now after all so why not miss that?

I already staked around 350 $PIZZA and can't wait to find out how much $VFT I am gonna earn the next 24 hours!

Farming was never easier

(Image Source)


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Looks like yet another Pancakeswap clone. Was the protocol audited?
What if you stake your tokens and the site just gets offline?

Well, then I will loose all my 25$ hehehe! The team behind this VFT Labs is the "MusicForLife" Tribe on Hive and I tend to trust Hivers. Why ruin your whole reputation and evrything you've been building for months for just a few thousand bucks?

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I can say if is not exactly defi, no one is swapping any token there. you are just depositing tokens and getting some VFT tokens depending upon your %share.

I feel the whole purpose is to get traction for ML tribe, and a platform to the musician to create their own brand NFT and "VFT" drop of token attract the user to go to that platform and earn VFT that can be either sold in Hive-Engine or use to buy NFT using VFT.

I also bought one NFT using my VFT income and I think if it not there(that semi defi thing), I might not have visited the platform, forget about buying the NFT there.

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Hmmmm. Looks like I might have to move my Starbits elsewhere. The return is getting less and less. That's only going to get worse the more tokens that get added. That's a shame. I think it would be higher on record staking now.

That's not taking into account the VFT tokens though.

Hopefully the pizza returns will be good for you! 😊

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The APY right now is over 300% so it's good (for now). Gonna stake some VTF Tokens and see where it goes!

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Farming since first days!

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Niiiiiiiiiice!

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Nice

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Niiiiiiiiiiice!

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Nice!

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Niiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiice!

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Love the idea, wish I could do it from mobile!

You can man! Hive keychain is available for mobile devices

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This looks like a scam, the reason cub defi can provide aprs of 280% is because you are providing liquidity to other users. Defi platforms are also more trustworthy as they are ethereum smart contracts which means the assets are code secure and never actually leave your wallet. This is simply a Ponzi scheme where you deposit funds.

I agree to everything you said exept the scam thing. I am not saying that this is a service you can trust and put thousands of bucks in it (and I definitely wasn't goind to do that) but instead it's just a fun way to farm some extra crypto with Hive-Engine tokens.

The team behind this project is MusicForLife Tribe on Hive, the 2nd most active tribe on Hive so as long as I get some returns I trust them with my 30$ worth of $Pizza tokens.

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Look like either one of is wrong here.

because you are providing liquidity to other users.

To whom Den provides the liquidity?

Defi platforms are also more trustworthy

like Defi100 ?

simply a Ponzi scheme

Nobody is paying old users with the cash flow from new user, It's a fixed pool, more user the user will get less. Your investment will remain intact.(as per design.)

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Den's are a tax on in the system, all they are designed to do is increase TVL - they add no value and personally, I'd get rid of them.

I'd feel more comfortable putting my money into a smart contract that doesn't leave my wallet rather than a scheme where you deposit funds and get magic money, source: unknown.

The fixed pool where the rewards are paid in inflation... with seemingly nothing backing up the value of the token? Maybe deposited user funds?

This is what I feel, replied above.

https://leofinance.io/@r1s2g3/re-stayoutoftherz-3fvag1

So demand of their NFT(that require VFT to purchase them) ,deposit fees , (musician creating there brand NFT and paying fees in VFT , but not sure) is some ways can keep giving value to VFT but nothing is assured.

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So what value does holding user's funds provide exactly? Surely they'd be better off keeping the inflation of their token and selling it rather than giving it away to people for free essentially?

Every day 1000 VFT is minted(fixed in number) and distributed to pool holder in proportion to their Stake,

Yes, I get that. Why do they need people to deposit money though, what is the benefit to this significant financial security risk?

That's a valid question, depositor are at risk and everyone has their own calculation to invest in it.

Like knowhow say it is ok to take $30 risk. In my case risk is of almost $500 , but my personal trust on liuke and ML tribe , desire/greed of creating passive income is making making me to ignore this fact(depositor's risk).

I guess everyone has their own thinking to put the money on this.

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@knowhow92! This post has been manually curated by the $PIZZA Token team!

Learn more about $PIZZA Token at hive.pizza. Enjoy a slice of $PIZZA on us!

Congrats on your VFTlab journey.

holders can now stake their tokens on Vft Labs for a really inviting APR and earn $VFT tokens in return.

"staking" is not correct word, we are actually depositing. I also trust ML so got no issue in depositing.

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YOu are correct my friend, thanks. Just fixed it!

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Ok done for180 pizza, small question where can u see apr?

There you go man : https://vftlabdashboard.netlify.app/

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That's great you can even put your name in and see how your tracking, what does expected VFT mean?

You earn VFT Tokens for depositing you pizza on VFT Labs. Expected VFT is the number of VFT Tokens you are gonna earn the next 24 hours. You can check your VFT balance on Hive-Engine!

I already received 15 VFT (around $0.45) in 1 day for staking 350 PIZZA

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Woah that's awesome sorry for all the questions! Have you worked out how long it takes to get your 3% back on pizza?

Around 5 days (maybe 4) with the current APR! I mean I already received $0.45 worth of VFT Tokens in 24 hours which equals to almost 1 Hive and the deposit fees were 12 PIZZA which equals to roughly 2 Hive.

The APR is decreasing as more people deposit tokens so that's why I think it should take me 4-5 days