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For a 110% APY, Does It Make Sense To Invest in This GMX Competitor?
GMX has been the market darling during our current bear market. Now, forks are popping up. Is this copycat worth your investment?
Most people have never heard of Bernard Arnault. However, Arnault is more prosperous than Bill Gates, Warren Buffett, and Sergey Brin. Arnault is the third or fourth (depending on where you look) richest person in the world and has made his vast fortune from luxury brands.
Do you know how women will pay a small fortune for a Louis Vuitton bag or how men will spend thousands on a Tag Heuer watch? Or what about that $150 bottle of Dom Perignon champagne? These purchases make Arnault wealthier as he owns 40% of LVMH.
If Arnault can get this rich selling luxury items, I wonder how much ancillary wealth his companies have created in the knock-off department. Some cloned impostors are incredibly high quality, and others will fall apart within a week of taking them home. Buying a knock-off is risky, but the reward is getting a status symbol at a fraction of the cost.
Crypto has seen its fair share of knock-offs. For example, how many Uniswap forks exist? Meanwhile, Uniswap still garners most of the DEX space fees. Do you recall the OHM forks or…
