๐๐๐ Yield Farmer Turns $9k to $9,853,086 in 2 Days: Hereโs How ๐๐๐
A yield farmer has gained widespread attention in the crypto community for skillfully turning a modest sum of $9,414 into an impressive return on investment (ROI) of 104,564%. Lookonchain, a prominent on-chain resource in the crypto space, recently shared insights into how this yield farmer achieved such a remarkable feat by trading the newly launched OmniCat (OMNI) meme token.
According to Lookonchain's disclosure, the yield farmer utilized 4 Ethereum tokens, valued at $9,414 during the transaction, to acquire a substantial amount of 4,454,378,989 OMNI tokens. This significant token acquisition was orchestrated through at least nine transactions.
The on-chain investigator revealed that the trader employed four Ethereum addresses and five addresses on the #Arbitrum network to amass OMNI tokens. Additionally, OMNI was purchased through other blockchain networks like #BNB๐ฅ Chain, Base, and #Solana๐๐๐ .
Remarkably, each transaction executed by the yield farmer to acquire the meme tokens was below 1 ETH, translating to an expenditure of less than $1,200 for obtaining multiple million units of OMNI. However, the value of each transaction later surged to an average dollar value exceeding $1 million.
In aggregate, after strategically accumulating OMNI tokens through these transactions, the trader's OMNI portfolio reached a dollar value of $9,853,086, surpassing the initial investment of $9,414. This resulted in an ROI exceeding 104,564%.
Lookonchain's update indicated that these transactions took place between December 22 and 23.
However, the yield farmer is facing allegations of market manipulation. Lookonchain specifically accused the trader of manipulating OMNI to his advantage during the meme coin's trading debut. The on-chain investigator claimed that the yield farmer provided liquidity for OMNI while simultaneously engaging in buying and selling activities based on the created liquidity.
