If you look a little deeper, actually a lot deeper by looking into the smart contract code and by doing some math, you find that these projects are slightly more sustainable than you might first imagine.
Don't get me wrong it still a ponzi scheme architecture yet you can harvest some Avax or whatever the ponzi game network was build with .
Things you need to know :
- Url : Rubymine
- There is no functionality to withdraw your entire investment.
- The smart contract code for these games was copied from a crypto shrimp farm game that was popular in 2018 .
- Withdraw everyday at least till you earn your Roi
- The project contract balance inevitably collapses therefore you can monitor it through apps like Zapper.fi.
- Because of the math inside, it won’t collapse all at once.
- The mining function have 12.5 days limit where it wont yield any avax therefore you need to withdraw before so you can get more rewards.
- This is not a financial advice, Do your own research.
Ruby Avax conversion
If you curious about the math behind it.
The function used to calculate the conversions is called calculateTrade:
function calculateTrade(uint256 rt,uint256 rs, uint256 bs) private view returns(uint256) {
return SafeMath.div(SafeMath.mul(PSN,bs),SafeMath.add(PSNH,SafeMath.div(SafeMath.add(SafeMath.mul(PSN,rs),SafeMath.mul(PSNH,rt)),rt)));
}
PSN and PSNH are just large numbers with a 2:1 use only to fix big numbers.
lets simplify the equation we will get the following :
Lets put algebra into work
- PSN=2*PSNH
- Simplification
rs is the contract balance in AVAX, and bs is the number of RUBY available in the internal market. In normal situations, the contract balance will be much larger than the amount we are spending, so (rs+rt) is approximately the same as rs. So the value is given approximately as:
In other words, if the value you are sending in is 1/1000 of the total contract value, you are buying 1/1000 of the available RUBY.
Notice what happens, though if you (foolishly) decide to spend the same amount of BNB as is contained in the entire contract. In this case rt will be the same size as rs, so you have to use the original equation and you end up with: Value = (1/2)*bs. In other words, you end up buying only half the market eggs, not all of them.
Should i invest ?
Remember this is not an investment it s Gambling A pyramid scheme.
For now, the contract balances (for the larger ones at least) are healthy and growing and are probably safe in the short to intermediate term.
Stay Safe.