Greed is bad or my biggest loss with farming on STON.fi

Ivan a.k.a. @Dobit4ik

I had great experience with yield farming on STON.fi (+2.74% with tsTON/TON, +19.33% with UP/TON, +103% with JETTON/TON), but no one can be all the time in profit. Today I want to share why greed is bad.

The announcement of the jNANO/TON farm was published on 16th January on STON.fi Telegram channel

To celebrate the TON-20 tokens listing STON.fi team decided to create a jNANO/TON farm. With no lock-up period and the sweetest part with the reward of 700 $STON jettons.

I’ve become a real fan of STON.fi and its farming events that’s why I’ve decided that I will participate no matter what.

Technical issues and Greed

The Man Behind the Bridge came back to the TG group in 1.5 hours after the farm had started

Unfortunately, TON-20 — TON bridge had not worked since the start of the farm. That’s why all of the people that had no jNANO and wanted to participate in this farm have been swapping TON to jNANO.

You can see what NANO purchased on the marketplace looks like (on the right), and the cost for NANO — jNANO bridge (on the left).

I’ve no clue and I’ve bought some NANO and tried to use this bridge too. Fifteen minutes later I realized, that something had gone wrong. I’ve joined the Telegram chat and understood that no one from the team is online..

I thought again an understood that I had bought not enough NANO.

I’ve decided to jump-in no matter what. That’s why I’ve swapped TON on jNANO with such a ridiculous exchange ratio.

Overall loss -40.2 $TON + 13.43 $TON + 13.03 $TON -1.11 $TON — 0.51 $TON + 1.47 $TON = -13.89 $TON or -34.52%.

Here you can see how my farm share has dropped in 7 hours. I’ve staked liquidity points at 23:32 and it was ~1% initially.

I could unstake LP and finish this journey with a lesser loss, but I’ve decided to experience it from the start to the end.

When life gives you lemons, make lemonade

What have I done with the JNANO that I’ve received from the bridge? I’ve successfully sold these jettons. Profit 29.08 $TON — 0.56 $TON — 27 $TON = 1.52 $TON.

Also, I had fun in the NANO group. We’ve even boosted their news channel to the level 2.

Crypto is not only about money, it’s also about Community.

Conclusion

DYOR.

There were no factors for the price growth except greed of farmers. But there were a factor for the price drop — orking bridge closed the gap in prices betweet STON.fi and NANO market.

Money Management.

I had an option to close in a less loss ~ in zero loss. I skipped it intentionally. I've participated in this farm with only 40 $TON.

Have Fun.

People suffer from their thoughts about something bad. So there is no reason to over think losses. Find mistakes, make conclusions, and continue the journey. The chase is better, then the catch.

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