Crypto trader and analyst Ben Armstrong explains the name of an Ethereum-based project that could potentially ignite a 500-fold parabolic rise.
In a new video, the trader told his 486,000 subscribers that investors, who made huge gains from Dogecoin’s (DOGE) meteoric rise of 1,000% in two days, are watching the decentralized finance (DeFi) space to find the next big mover.
“The success of Aave, [yearn.finance] (YFI) and Synthetix (SNX) demonstrates the interest of institutions and retail investors in decentralized finance. Aave and Synthetix recorded massive gains. Aave 260x and Synthetix went up 407x. ”
Armstrong says he closely follows a little-known protocol that promises to facilitate DeFi by opening up yield farming to market participants with just a few clicks.
“It’s called APY.Finance. APY, the plug-and-play solution for investors that directs funds to the best yield farm strategies. You won’t have to worry about searching for options on your own and changing fund returns. It is fully automated and essentially a DeFi aggregator.
Moreover, this new project is already connected to all leading DeFi protocols such as APY.Finance, Uniswap (UNI), SushiSwap (SUSHI), Aave, Compound (COMP), yearn, Synthetix, dYdX and more. “
According to the crypto influencer, users can deposit stablecoins such as Tether (USDT), USD Coin (USDC), and DAI. Robo advisor offers options that offer the best risk-reward return.
Armstrong emphasizes that gas fees for pool withdrawals and deposits are seven times lower than transaction costs on other leading DeFi platforms.