Passive income strategy — Augmented Finance
Have you seen anything like Augmented Finance on Avalanche blockchain?
Yeah, It’s like Benqi or Aave.
They’re doing high APR + Airdrop through Feb 22nd. Seems like a great return for another 2 weeks!
I discovered a basic folding strategy (they accept 12 different tokens):
Supply +$300 worth of JOE.
Borrow +$100 worth of JOE.
You can deposit that borrowed JOE back into Augmented. Now you’re technically supplying over $400 worth.
Net APY will be like 47% during this time.
Then you get an airdrop on Feb 23rd.
Using their airdrop formula, you would get and the extra 385 $AGF coins, which is currently over $400.
You can also lock your daily APY rewards for extra APY boosts, but I wouldn’t do that. I don’t lock up farm tokens. I’ll cash my daily rewards periodically.
After the airdrop happens, you can exit Augmented and put your JOE into sJOE.
https://augmentedfinance.medium.com/augmented-finance-2-000-000-agf-airdrop-on-avalanche-free-agf-for-early-users-3fa6f29e410c