I’ve spent the entire year (thus far) exploring defi as proud memeber of the pleb community. I am not a math guy, I’m not a finance guy, and I’m not a tech guy. My background is in outside sales, so I have ZERO experience outside of web3 in banking, or financial services. Please do not take this as finance advice.

As a pleb, you don’t need to know algorithims or more than a highschool understanding of math. All you really need to know are some basic principles

1. If it looks too good to be true… then it is. - Stay away from yields higher than double digits. Especially if they are promissing triple digit yeilds. The token you would be farming is most likely undergoing hyperinflation, or a massive token liquidity unlock is looming. Don’t be the exit liquidity, 7% APR is better than you were getting at the bank, so don’t be greedy.

2. Measure twice, cut once - It’s better to do a couple hours of research on a yeild farm or lending protocol on a project and the smart contract itself, then to ape into a yeild farm/ SM (smart contract) and worry about it’s risks later. By doing some basic homework first, it will help you make better decisions and make fewer transactions. If you know a project is solid and the smart contract it will be in is safe enough, you will be less inclined to hop from pool to pool and save you gas at the same time.

3. Keep an open mind - You may not fully understand a new Defi strategy, this is always the first stepping stone for everyone. The next step is to do your research. If you love reading, go to a project’s medium articles. If you learn better from listening or watching, usually there’s a youtube video going over everything. If you are better learning while talking to someone, go to that project/smart contract’s discord channel. Moderators are more than eager to answer questions.

That’s all I have for this year, I am sure I have much more to learn. As I do, I might just start journaling my experience here. Let me know if there’s anything you would like to read more about.

Cheers!

ShepStax

I’ve spent the entire year (thus far) exploring defi as proud memeber of the pleb community. I am not a math guy, I’m not a finance guy, and I’m not a tech guy. My background is in outside sales, so I have ZERO experience outside of web3 in banking, or financial services. Please do not take this as finance advice.

As a pleb, you don’t need to know algorithims or more than a highschool understanding of math. All you really need to know are some basic principles

1. If it looks too good to be true… then it is. - Stay away from yields higher than double digits. Especially if they are promissing triple digit yeilds. The token you would be farming is most likely undergoing hyperinflation, or a massive token liquidity unlock is looming. Don’t be the exit liquidity, 7% APR is better than you were getting at the bank, so don’t be greedy.

2. Measure twice, cut once - It’s better to do a couple hours of research on a yeild farm or lending protocol on a project and the smart contract itself, then to ape into a yeild farm/ SM (smart contract) and worry about it’s risks later. By doing some basic homework first, it will help you make better decisions and make fewer transactions. If you know a project is solid and the smart contract it will be in is safe enough, you will be less inclined to hop from pool to pool and save you gas at the same time.

3. Keep an open mind - You may not fully understand a new Defi strategy, this is always the first stepping stone for everyone. The next step is to do your research. If you love reading, go to a project’s medium articles. If you learn better from listening or watching, usually there’s a youtube video going over everything. If you are better learning while talking to someone, go to that project/smart contract’s discord channel. Moderators are more than eager to answer questions.

That’s all I have for this year, I am sure I have much more to learn. As I do, I might just start journaling my experience here. Let me know if there’s anything you would like to read more about.

Cheers!

ShepStax