Exploring new DEFI options - the WolfDen and Knight Finance (BSC and Fantom)
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I had an interesting chat with a friend of a friend last week who is part of the 'Wolf Den' - a project aimed at onboarding new people to Crypto and helping them 'get rich slowly' - focused on steady returns rather than chasing the next 100 times moonshot token.
I got a good vibe of this guy, who seemed totally legit and I liked the sound of the project so I checked it out.
The TLDR of their White Paper is as above - to educate people about Crypto, help them get set up with their first wallets and introduce them to staking rewards through their two DEFi platforms on Binance Smart Chain (Knight Finance) and Fantom (Dark Night Finance).
There is also an aspect of gamification to the project - you can buy Wolfie NFTs which enable you to take part in games as part of the community and win prizes, but I am yet to explore that, here I focus on the DEFI platforms.
If you've never heard of the Wolf Pack or their Knight Finance DEFI options (below) it's because they don't shill very much, instead they target larger investors to try and get them to bring sums of money in - and they've managed to get almost $300 million locked across their two platforms...
Knight Finance (Binance Smart Chain)
Knight Finance has a TVL of $260 million (!)
If you are familiar with DEFI this site will have a VERY familiar feel - there are the usual staking pools offering some reasonable returns on some pretty standard parings - a couple of stable pools, and BTC-BNB for example.....
You earn rewards in KNIGHT and, as usual, the Knight: Stable and Knight: BNB pairs offer a higher yield, boosted return.
You can also choose to pool your knight with an autocompounding option or stake KNIGHT to earn a range of different coins, all part of the Wolf Pack ecosystem....
Dark Knight Finance (Fantom)
In keeping with many other Platforms on Fantom, we have 'dark knight' from the Wolf Pack - but this is really just a rinse and repeat version of what's on Binance Smart Chain.
It has a TVL of $25 million, not too shabby for Fantom!
Tokenonmics and Token Prices
Something I do find encouraging is that the price of Knight is very stable - it hasn't fluctuated much from the $0.50 range in recent months....
Something which can't be said about the more recently launched Dark Knight token....drifting down and currently around $0.16....
The tokenomics are very simple, just a stable release of the coins every block, no max supply, with the pre-sale tokens already having been released, and with most dumping already having taken place (I'm reliably informed!).
Knight Finance - worth Investing in?
I certainly don't see any big red flags here warning me off parking some assets to earn a yield, and at least where Knight is concerned I'd be happy enough punting a few hundred quid paired with it for a 100% yield.
However with DarkKnight, I'd probably wait and see what happens to the token price for a few more weeks.
I say 'probably' because I doubt I'll be moving any money over here - I see nothing really new, nothing to tempt me away from Cub Finance, at least for now.
Having said that, I am impressed by their TVL and relative stability of the Knight token, so I might use this as a place to park some stables for a month or two on Fantom, which is a network I've been meaning to explore for a while, so I wouldn't reject this out of hand.
I also like the feel of the whole project - helping people learn about DEFI and educating them about the risks of getting rekt!
I'm certainly not ruling this out as a place to park some Stables or maybe even some ETH and BTC in coming weeks or month, just not for now, I want to keep focussed on what I know rather than spreading out further!
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