The DeFi Chronicle: How to earn a 50+% APR for holding an NFT- Sol Smilez
Imagine owning a lakehouse. It’s a scenic 90-minute drive from your primary house in the loud, busy city. Your serene lakehouse is located right on the water‘s edge. You have a small boat you can go fishing on or just cruise around the lake taking in the scenery and the silence. On Sundays, you can enjoy barbeques with friends, family, and neighbors. It sounds nice, doesn’t it? Until you account for the mortgage, maintenance, taxes, and fees of your vacation home.
Imagine you can rent this vacation house out while you are unable to travel there. The rent you earn covers the mortgage and expenses for the lakehouse. After a couple of years, you start turning a profit. This makes the lakehouse idea sound more enticing, but what about the aggravation and time required to schedule, rent, and clean the lakehouse?
Now, imagine owning a lakehouse that gets rented out automatically. You don’t have to deal with finding the renters, cleaning up, doing maintenance, and you still get to enjoy the pleasure of staying at the lakehouse occasionally. Every month, you get a nice sum of money dropped into your account and you still have ownership and ultimate control of the lakehouse.
Chance are, you like the last option the most. The least amount of work with upside and ownership. You still get to enjoy watching fireflies dance on summer nights and don’t have to deal with the stresses involved in renting out and maintaining a rental property.
The Sol Smilez NFT project recently launched on the Solana Blockchain and its goal is to provide NFT holders with the third option described above. You get the pleasure of owning an NFT that pays a monthly reward in USDC and requires zero work, effort, or energy on your side as long as you can follow the simple steps for attaining one of 50 unique NFTs.
The Challenges with DeFi
Over the past year, I’ve had tremendous success generating yield and earning an income from different decentralized finance (DeFi) projects. I’ve realized there is a barrier to entry for a lot of people in terms of creating a mobile wallet, learning different networks, bridging between networks, swapping between different tokens, and knowing where and how to get their digital assets working for them.
In addition to the required knowledge and comfort in using the systems, there is also an issue of time. Going in and managing DeFi projects can be time-consuming, confusing, and if you don’t have a large sum to invest, gas fees will eat into your profits.
Bridging DeFi with NFTs
What if you could take advantage of the gains in DeFi without having to invest a huge amount of time researching, learning, and being forced to make decisions? What if the cost to take part in this project was less than $250 and its goal is to pay out a minimum 50% APR per year that goes directly into your mobile wallet at the beginning of the month?
Enter the Sol Smilez NFT. The Sol Smilez NFT collection is a limited 50 edition mint of unique NFTs on the Solana Blockchain designed strictly with utility in mind. All funds raised by the initial minting- 2.5 Sol per Sol Smilez, will enter into a treasury that will be deployed on different decentralized platforms. A portion of the proceeds will be distributed monthly to holders of the Sol Smilez NFT via a USDC airdrop.
The Sol Smilez NFT is modest in terms of art and design and doesn’t feature an animal, superhero, or an 8-pixel illustration. It’s sexy in the kind of way a pulley, a shovel, or a hacksaw is attractive. It serves a purpose and the purpose is to generate ROI (return on investment).
Who is a good candidate for Sol Smilez
At the time of writing, the investment in SOL for minting 1 Sol Smilez is $225. If this represents a large portion of your investment portfolio, purchasing an NFT may not be the best choice for you. It would probably make more sense to take a closer look at Bitcoin or Ethereum.
But if you are an investor comfortable in risking $225 and are open to exploring a new way of earning yield that requires little time, effort, and energy a Sol Smilez may be just the right investment for you. You are leveraging existing DeFi expertise and will become part of an investment pool capable of providing outsized returns in relation to traditional investments.
Will Sol Smilez ever reach the value of a Bored Ape, Crypto Punk, Portal, or Shadowy Super Coder? Probably not. The purpose of Sol Smilez is to generate a steady stream of passive income delivered directly to your Solana wallet every month.
Are you looking for a fun community with an active Discord and hilarious memes? I’m afraid a Sol Smilez isn’t the best NFT for you. There is a telegram group where a community can build, but the main purpose of Sol Smilez is to generate cash flow to holders.
Initially holding 1 Sol Smilez will open you to $10 in airdrops monthly, but as time goes on, the goal is to increase this figure. However, at the $10 rate, it equates to over a 50% APR for holding the Sol Smilez for one year!
Why is this project being made?
Sol Smilez is being created as an experiment. It offers investors unwilling or unfamiliar with DeFi to take advantage of platforms rewarding their users. It also serves to be an NFT providing true utility- rewards paid in USDC!
Even if you are an experienced crypto and NFT investor, you can become a part of an NFT project that can potentially grow much larger in the future. This is not a hyped project where thousands are being spent on paid promoters or shills. It’s organic like the food you want your children to eat. It’s not a project where the Dev is going to take off with the funds.
There is a risk in purchasing a Sol Smilez. There are no guarantees on returns, but it is being started on a small basis to see if the model makes sense and to find out if is embraced by the investing community. Also, be sure to share the opportunity with your friends so they can regale in the financial feasts that DeFi offers!
How To Purchase a Sol Smilez
- Purchase SOL tokens on any major crypto exchange
- Download a Solana wallet on your mobile device or computer. The most popular wallet on Solana is Phantom- https://phantom.app/. Be sure to write down your secret keys and store them somewhere safe. Ideally, you want to try restoring the wallet on a different device to ensure you have written the secret keys down properly.
- Transfer SOL tokens from your exchange to your Solana wallet.
- Visit the minting site: https://mint.creatormachine.com/solsmilez
- Connect your wallet to the Sol Smilez minting site
- Mint a Sol Smilez and it will appear in your wallet
- Hold the Sol Smilez in your wallet and get a USDC airdrop every month
- If you sell or transfer the Sol Smilez to another holder, you will no longer receive monthly rewards. However, the new holder will receive the rewards.
If you have questions or purchase a Sol Smilez, please join the community on Telegram.
Also, please consider following Sol Smilez on Twitter https://twitter.com/SmilezSol
We need a minimum of 100 followers to be listed on MagicEden.
This article isn’t financial advice and I am not a financial advisor. NFTs and decentralized finance are risky assets. This piece is strictly my opinion. None of the projected returns are guaranteed. Do your own research before making any investments.
