Bubble of the high APY on Rebus?
I talked about Tori token on Cosmos chain earlier and it's time to talk about the Rebus on my hand from the airdrop. Rebus made lot of noise on the Cosmos chain once they started giving out stake reward to the user, the APY was about 1100% at the first 3 days, we can't trasnfer our token from Rebus to Osmo frontier swapping for USDC or other token, but we can directly buy Rebus there.
It reached US$9.7 on the Osmo frontier which was suprising everyone, anyway I knew that it was just a number to me as I can't exchange any Rebus on hand for the USDC, and now the price of the Rebus on Osmo is getting back to normal which is about US$0.45, it's more rational with this price, and the APY has been falling sharply from 1100%+ to 781% as of today. But of course it's very high APY when compared to simply keep your money in the bank for 2-3% APY.
I planned to save up 1000 Rebus and always stake there to earn reward there, but with the lower APY now sounds it's harder to rely on the stake reward to reach my goal now, I gotta save up some Rebus waiting them list on the CEX and IBC to trade directly now.
It's still believe that Rebus is another great airdrop after the Evmos, the APY is high but I don't think it's a bad bubble on the chain, well, I collect all the token for free, there's no risk for me anyway...
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