Cast Channel by paying {G}{G}.
Activate Phyrexian Altar by sacrificing Mycoid Shepherd, adding {U}.
When Mycoid Shepherd dies, it and Fool's Demise's first and second abilities trigger.
Resolve the Mycoid Shepherd trigger, causing you to gain 5 life.
Resolve the first Fool's Demise trigger, returning Mycoid Shepherd from your graveyard to the battlefield.
Resolve the second Fool's Demise trigger, returning it from your graveyard to your hand.
Activate Channel four times by paying 4 life, adding {C}{C}{C}{C}.
Cast Fool's Demise by paying {4}{U}, attaching it to Mycoid Shepherd.
Repeat from step 2.

Infinite colorless mana

Infinite death triggers

Infinite ETB

Infinite lifegain

Infinite lifegain triggers

Infinite LTB

Infinite sacrifice triggers

Infinite storm count

Fool's Demise

Channel

Phyrexian Altar

Mycoid Shepherd

Combos with "Mycoid Shepherd"