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RE: HIGH APY - does it make you EXCITED or discourage you from investing in DeFi Projects
The truth is that having an excessively outrageous APY will not be sustainable for long and it will reduce drastically. Then majority of those that invested earlier and got the high APY may dump their tokens and may further crash the price of the token. So for a long term project, it is better to attract investors by building a use-case for the project than by offering investors an APY that is "too good to be true".
Excellent read buddy