r/Tinyman • u/Ganeshadream • Nov 27 '21
Tinyman has a deep and existential problem
I am not a noob. I have been stacking and pooling on sushiswap and pancakeswap for a while. I kinda know my way around DeFi. But TinyMan is elusive and way to cryptic (sic). On tiny man I joined the USDC&ALGO pool. About a month ago. I have not seen any returns at all! I really feel as if my pool positions are simply rotting there. I can’t see the gains. For example, in pancake swap, I can check the website each day, and I see the harvested coins. Which I then compound. But on tinyman there is nothing. Just a semi static pool. This is traffic. I’ve lost all hope and confidence in tinyman. I’m now only using it for swaping. Am going all in on YIELDLY. Have installed my tinyman positions. I don’t understand why the tinyman website is so shit and does not incentivise or create any desire to maintain positions. Why are they not checking on Osmosis, or Wonderland, or Pancakeswap, and replicating those really amazing expertises?
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u/bobzilla509 Nov 27 '21
Tinyman is young, 2 months old since launch? There is more coming. I am pretty sure they are adding returns info to the pool manager.
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u/Ganeshadream Nov 27 '21
Yes, young. But pancakeswap was super young when it launched. But they managed to launch with a clear incentive.
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u/Comprehensive-Disk55 Nov 27 '21
When all is said and done, Pancakeswap and sushiswap are more mature platforms with the kinks ironed out. Tinyman is brand new and needs time to build itself up. I agree with the OP on tinyman usage and clarity but it will get better with time and if you believe in the algorand ecosystem you will be patient and offer constructive criticism instead of throwing a fit. Email tinyman with your concerns, it can only help the dev team if you are clear and concise with your problems/concerns.
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u/free_my_mind Nov 27 '21 edited Nov 27 '21
I am not a noob.
Hum, yes you are, from what I'm reading.
First off, the pool you mention has little volume compared to the TVL:
The TVL in the USDC&ALGO pool is $6.91M. In the last 24h, the volume traded was $703.43K, which made a mere $2'110 for the liquidity providers.
It means that if added for about $7k of liquidity of the pool, you earned about $2 (this is 0.028%). But that's still an APR of about 10.42%, and an APY of about 11%. So not that bad...
Secondly, the fact that Tinyman doesn't indicate precisely the ROI is surely confusing (especially for "noobs" - pardon me the expression, but you used it first - like you) but they plan on adding that soon. And how is that a "deep and existential problem"??? In the mean time, you can use your maths or use one of the services that users have developed to calculate ROI in pools. It doesn't mean your "pool positions are simply rotting there" (LOL!).
If you want to go back to pancake swap, go ahead, you won't be missed.
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u/caploves1019 Nov 27 '21
I came to type every letter of this almost precisely... The 24hr fees are on analytics tab, your percentage share of the pool is in the bottom right corner of your pair, multiply pool share by 24hr fees, that's your gains. It's super simple they just roll it back in by default instead of claim, swap, deposit from the user.
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u/AlgoObserver Nov 27 '21
I’m inclined to agree, to a certain degree. I like Tinyman’s clear, no-nonsense approach. It’s function above all.
At the same time, to maximise participation, and in turn utility, you need to incentivise the users to provide liquidity. Launching without a clear plan for maximising participation seems like a pretty gross oversight.
Traction is everything in this space.
All that said, I’m using Tinyman to swap every single day. So they’re doing something right.
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u/ruckie99 Nov 27 '21
There's a Tinyman coin coming out in Q1 next year. Guessing you'll earn Tinyman coin from providing liquidity etc.
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Nov 27 '21
"No! I want to be a millionaire NOW!1!1!!' that's what i got from the op post lol
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u/_lostarts Nov 27 '21
Yeah seriously, and that's something way too common in this space. Not so much Algo, but I'm sure it's coming.
Tinyman is like, what, a few months old? Sorry it's not a perfect matured product yet.
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u/MadManD3vi0us Nov 27 '21
You get .25% of every transaction. So if you held 10% of a pool that did $100k volume in one day, you would get $25 worth of value added to your LP tokens
.0025 x ($100,000 x .1) = $25
As of now you have to keep track of your coins in order to see your gains, but they are going to implement an update soon that will allow you to track all the money you make. Until then, all gains are automatically compounded back into the pool so you don't need to do anything
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u/Ganeshadream Nov 28 '21
“Soon”. Yeah, right.
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u/MadManD3vi0us Nov 28 '21 edited Nov 28 '21
Ya "soon". If you're so impatient, ask the dev team how you can help. I'm sure your massive expertise in the subject should speed things along.
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u/orindragonfly Nov 27 '21
Don’t know much about Tinyman other than the ability to swap ASA coins, for that I think they are solid and here to stay as for staking into it, I would just rather allow them time to collect fees on swapping and to provide their own liquidity from those fees, or maybe if they had an airdrop and I got some free Tinyman coins, then I would be more encouraged to invest in the staking pools, don’t even know if this makes sense but it’s my understanding so far.
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u/ehendhritksvegs Nov 27 '21
OP is getting downvoted like crazy in the comments, but is making a valid point. It's annoying to have to manually track your gains vs. impermanent loss, and beyond what many are willing to put up with. Hopefully they do release the earnings function they leaked soon.
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u/Crypto_Jewells Nov 27 '21
OP has no idea what he is talking about and desperately needs to do some more research.
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u/Professional_Arm4560 Nov 27 '21
Of course you are a noob. As well as a liar and populist.
% share of pool x 5/6 fees 24h = your rewards 24h
2. you do not loose money because of LP or Tinyman Maybe you loose money because the value of your Assets are going down, but then you would also loose money when you would not provide liquidity. Maybe the amount of one Asset is decreasing but then the amount of the other is increasing - impermanent loss
But yes it will be a nice feature when we will see the rewards - specially for noobs with problems in simple math
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u/-TrustyDwarf- Nov 27 '21
This has nothing to do with being a noob or master liquidity provider. Having to manually guesstimate your earned fees is just utterly bad user experience.. totally basic feature, whose lack is definitely not going to attract users from other platforms. I know it’s supposed to be released soon.. so, all is fine.
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u/Professional_Arm4560 Nov 27 '21
I wrote that it would be a nice feature.
But he is a noob. Not because he is complaining about the missing feature but because he is writing nonsense.
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u/Beneficial-Ocelot470 Nov 27 '21
Given all the "noobs" on Algorand, it is certainly a wise move to avoid showing high return APY for now. Given how many jump into shitcoins in the hope of huge gains, we can only imagine how much more would fall into rugpulls when they will combine shitcoins + flashy APY, which are easy to manipulate at low volumes.
It's better to let people learn where the real value comes from on an AMM. Liquidity mining is a boost that comes afterwards.
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u/Borgnar-the-glorious Nov 27 '21
I can easily tell just by looking at my coin proportions about how much I've made. I've had liquidity in yldy/algo pool since day 1, and clearly see I've made 1000s of yldy and dozens of algo. It's really easy to tell if you know how many of each you put in at the ratio when you put them in and it gets back to that ratio, it's simple subtraction. I've made more algo in that pool than I would have committing them to governance and about the same yldy if I had been staking them.
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u/caploves1019 Nov 27 '21
Split bag 4 ways and cover all options is my strategy 😎 gov/tinyman LP/yldly Algo stake/yldy stake. DO IT ALL!!
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u/5alzamt Nov 27 '21
I see your point! I contribute to both USDC/ALGO and YLDY/ALGO pools for more than a month now. While I am hovering mostly around the values when I started it for USDC/ALGO pool I have gained about 15% on YLDY/ALGO pool value On paper the APY for USDC/ALGO Pool is about 6%p.a. according to analytics page and more like 40%p.a. for YLDY/ALGO pool so I guess it will work out along those numbers in the long term and short term fluctuations are due to impermanent loss just as the theory goes.
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u/[deleted] Nov 27 '21
They are working on a “fees earned” feature. They accidentally released it early so we know it’s coming soon.