17% Per Day — 119% Per Week? Today, We Start an Experiment…

PLEASE READ THE UPDATE HERE

Will this work?

Or am I about to lose my money?

For the next week, I am putting some Binance Coin to work at BNBmatrix.io, a yield-farming dApp on Binance Smart Chain. If all goes as planned, the minimal, test amount I’ve invested, 0.015 BNB, should grow into 0.0328 BNB — a gain of 0.0178 BNB, or 119% profit in just a week.

Frankly, I don’t know what to expect, though certainly I’m hoping for the best.

I will post brief updates as necessary to let you know how this experiment is progressing.

In the meantime, what is BNBmatrix.io?

It’s a new entrant in the ever-expanding lineup of yield-farming applications. BNBmatrix’s take on this corner of DeFi: Its yield-farming program is tied to a smart contract, meaning investments are permissionless and non-custodial (i.e., you can reclaim your BNB anytime you want, even mid-cycle, with accumulated interest).

Minimum deposit is just 0.01 BNB, or just over $5 at the moment, making BNBmatrix affordable for anyone to try. And if you’re going to test-drive a new DeFi operation, starting minimally is good. Better not to deposit a big wad of BNB immediately, only see it go poof if something goes haywire.