Is Binance's latest WEB3 task Morpho worth doing? Let me help you do the math and you will know.

First of all, Morpho is the Ethereum mainnet. According to the current rate, the contract execution fee is about 10-20u, and the exit fee is about 10u. The task can deposit up to 3000u, and the activity time is 14 days. Only these 14 days (October 10th to October 24th) are 60% annualized, and after these 14 days, it is only 8% annualized.

1000u is 600u per year at 60% annualized income, so the daily interest is 600/365=1.64u.

The interest income for 14 days of the activity is 14x1.64=22.4u. According to the current Gas rate (gwei=20), depositing about 1500u can easily offset the entry and exit costs. In the future, every additional 1000u can earn an extra 22.4u.

Check the fee rate in Figure 2 (there is a heat map to see which time periods are off-peak). If you enter when the fee rate is low during off-peak hours, you can easily save only 1000u to offset the cost (20u).

[Conclusion]

If you have 3000u of spare money, you can participate with the full amount, spend 14 days, and make about 50 dollars, and then quit after the event ends. If you don't have much money, don't participate, it's meaningless.