Anyone else playing the Sushi madness game?

As a little experiment, I dabbled in SushiSwap. To make it happen, here’s what I did. I’m going to pretend I used 10 ETH, just for round numbers.

  • Deposited 10 ETH in metamask. Reasonable gas fee.
  • Went to Uniswap and swapped for 3 ETH worth of AMPL tokens.
  • At this point, I MetaMask has 7 ETH and 3 ETH worth of AMPL.
  • Went to Uniswap to deposit liquidity. I had a really hard time figuring this out. I didn’t realize that to add liquidity, it’s necessary to deposit equal parts ETH and AMPL. So I finally deposited 3 ETH and the equivalent of AMPL. These transactions take forever and when I did this, gas fees were insane. Probably $200.
  • Pro Tip: Even though it costs a tiny bit extra, I highly recommend editing the metamask transaction to use the fastest gas price. I had a lot of failed transactions, but when I used the fastest path, it always seemed to work.
  • Once all of this was complete, my METAMASK wallet has about 1.something ETH (after gas fees), 0 AMPL and a new UNI LP AMPL-ETH token. That UNI LP token represents the liquidity stake.
  • I then headede over to SushiSwap, clicked the AMPL menu item and deposited the max of my UNI LP AMPL-ETH tokens. This took a little while, too, and was expensive. Can’t recall the amount.
  • It was fun seeing the intrest in SUSHI accrue.

I started this a week ago and have cashed in enough Sushi tokens to pay for the gas and make a nice little profit. From the sounds of things, SUSHI is a bit of a disaster, but it seems in the past 2 days, they’ve replaced their lead dev and seem to be making the right moves. So my big question is. . . . .should I continue to let the LP tokens earn the 1000%+ interest or should I get the heck out. From what I understand, my only loss risk is the SUSHI tokens I’ve accrued. I can unstake my LP at any time.

Anyway, I’d love to hear some thoughs. Sorry for the long post. Just wanted to share the process as it was a difficult one (and fear filled).

Transaction cost and speed is never certain. So if Sushi does start to tank getting out or unstaking your original ETH and AMPL coins may be a problem. Sounds like fun though, take out your original investment and then let it ride. I am not a professional and this is not investment advice :slightly_smiling_face: As long as you have on your Big Boy Pants it will be an adventure.

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