I have invested about $20 into the Squid Game Yield Farming. I am giving it a chance to see whether there is a chance for it to grow into something valuable.
$20 is not a big amount but it can be a really great investment if this token ever grows many times more valuable since it is really a new project so no one can predict its success yet.
There is also a big jackpot for those who are playing and farming can look forward to every 3 weeks.
In The Farms
Staking Squid – 4892% APR (Liquidity of $49910.80)
Staking Squid/USDC – 10470% APR (Liquidity of $46641.64)
Staking Squid/WMatic – 9646% APR (Liquidity of $40497.81)
Staking WMatic – 6110% APR (Liquidity of $14386.04)
Staking WBTC – 6602% APR (Liquidity of $13325.74)
Staking ETH – 5114% APR (Liquidity of $11457.10)
Staking USDC – 5494% APR (Liquidity of $14221.07)
Staking USDT – 4882% APR (Liquidity of $16001.76)
Staking DAI – 5341% APR (Liquidity of $14627.81)
The above % of APR and Liquidity may change since it depends on the number of investors in each pool.
Calculative Earning
The above APR may look really high but the fact is you can only get about 10% of your harvest with the other 90% into your game pool.
The game is activated the moment you choose to harvest. You can only get back the 90% if you manage to win 3 rounds of the game.
When losing the game, the tokens would be burnt so there may be many burnt tokens within an hour when many are harvesting their rewards.
We can see that 17499 Squid tokens are burnt after the launch of the game for about 14 hours at the point of my post.
The regular burning of tokens can really help with price of the token.
Below is a screenshot that explains the game.
Image Source
Personal Reward Calculation
I am currently staking in the Squid pool with an APR of 4892%. When I divided it by 12, I am supposed to get 407% daily.
407% is when I can get the full harvest but the reality is most of us may only get 10% of the harvest. I can get 40.7 % daily. (This is just my personal rough estimation)
40.7% is still not a terrible deal actually.
Below is a screenshot of the game after I did a harvest.
It was only the second time that I harvested that I found out where to click to choose the glass. (The grey part nearer to the front)
I had played two games so far and I had lost both games.
Since Squid Game is hosting on the polygon network so transaction fees to harvest and play the game is really cheap.
Below is the screenshot of the gas fee to claim the harvest. (Cost about 1 cent)
Below is the screenshot of the gas fee to play one game.(Cost about 0.3 cent)
Both transaction fees are really cheap when we compared to the ETH gas fee.
Super Jackpot
Every 3 weeks, there is a super jackpot to be distributed out with a current prize pool of $140 000 USDT. The distribution date is on 20 Nov 2021 for the coming super jackpot.
Below is a screenshot for the rules to participate in the current jackpot.
2x APR Boost
I am not sure whether it is a permanent feature but it seems like every 24 hours, there would be a boost in the APR by 2 times.
3-level Referral
There is an attractive referral program that we can participate.
Image Source
Setting Up Polygon Network On Metamask
The setting up of polygon network on Metamask is really not too difficult actually.
Below is a screenshot of how to configure your custom RPC for Polygon network.
We do need to transfer Matic tokens from an exchange to our polygon wallet to get things started.
If we treat it as a game as well as a chance to participate in a new project regardless of the success, losing a small amount would not hurt us too much but the chance of getting a huge profit out of a small investment if it is successful can really make us jump for joy.
Click Here To Visit Squid Game Yield Farm
Disclaimer: This is my personal reflection and I am not in any position to instruct anyone what they should do. I am not responsible for any action taken as a result of this post. My post can only be a reference for your further research and growth.