DeFi and crypto farming, how not to burn yourself?

A new trend that is gaining more and more momentum in the #cryptocurrency market is DeFi, or decentralized Finance. TheAbsolutely everyone liked the instrumentplayers in the market. Crypto enthusiasts have the opportunity to take out crypto loans, exchanges and #DeFi projects with their tokens are setting new records for trading volume. Liquidity providers did not stand aside, because they are the ones who provide liquidity to the market. The risk, however, is quite high. By giving liquidity to the pool, it is divided in equal proportions between the two assets. If there are sharp fluctuations, the total amount of your assets may become lower than the deposit. To somehow mitigate the risk, projects offer high returns. But how can you further secure your assets?

Perhaps the only answer is constant monitoringmarket. No matter how hype the project is, no one will offer you any insurance or guarantees. You either walk with the crowd, or take your destiny into your own hands.

One of the underestimated free assistants in this matter, which has no analogues on the market yet, is the EtherDROPS bot Tegeram:

https://t.me/EtherDROPS_bot

The bot can only monitor the #Ethereum network and ERC-20 tokens. Almost 95% of all DeFi projects are on Ethereum. The most “gross-grossing” DeFi is also there.

The essence of the bot is simple:

1) The ability to monitor the change in the price of tokens. The bot sends notifications when the price varies within the price range you specify. You can set a completely different range, from the minimum fluctuation of 0.1% for more frequent notifications, or higher. There is no need to continuously update CoinMarketCap or DropsTab.

2) Ability to monitor changes in liquiditypool. The bot will send notifications for the selected% change, you also configure them yourself. Someone brought in or took out a huge share? It's time to be on your guard, because it means that some information has arrived or something completely bad is happening.

In addition, you can track the balance of any wallet on the Ethereum network, be it your personal wallet or the wallet of the project you are interested in.

This bot will greatly facilitate your life andhelp in making investment decisions. Moreover, the bot provides feedback. If you have any questions or wishes, you can always contact the developers! A convenient user interface and a guide in Russian and English for new users are also built in.

However, any bot is just a toolused to achieve specific goals. Your most important weapon is your knowledge. Be vigilant and invest only in those projects, the basis of which you personally recognized and understood. Investments in hype projects and “herd mentality” do not always bring the desired results.