A Pancake Weekend
Not only did I have pancakes for breakfast on Sunday, I also took some to put some more of my funds into Pancake Swap. The majority of my DeFi stuff takes place in Cub, but watching the price of CAKE go up, up, up, it was hard not to want to put a little bit of money into this platform.
I did the TLM/BNB pair a while ago, but honestly the multiplier was horrible (0.5x) and the APR wasn't that great either. This weekend I decided to pull that liquidity out and instead go in on the LMT/BNB pool. It gives a bit better ARP at 260% right now and the multiplier is at least 1x.
There are higher multipliers, but those farms also have a ton of liquidity, so I feel like I wouldn't be earning as much. I don't really understand all of this fully yet.
With the liquidity I pulled out and using some TLM that I switched over into BNB from Alien Worlds, I was able to put about 43 of the pair tokens into the LMT pool.
It still isn't earning me a ton of CAKE. Maybe only 1 every couple of days, but at least it is something. This whole BSC really has been a game changer for me. Being able to participate in DeFi without having to pay the huge fees that they have over on ETH is really nice!
At this point, I am very much open to tips about what I should be doing differently. That CAKE/BNB farm has a 40x multiplier, but the APR is only ~75%.
Listen to me, complaining about 75% APR being too low. I was just having a conversation with some friends over lunch the other day and they were talking about how the < 1% they are getting from their savings account is so horrible...
Have we really become that spoiled!
The 8x multiplier on the BUSD/BNB farm is also nice, but the APR is ~25%. At that point I feel it would be smarter to pair those tokens in Cub (which I am mainly doing). Sure, CUB is a fraction of the price of CAKE right now, but I have a feeling that will not be a forever thing.
Back to my friends... I am pretty sure I have them on the hook to finally invest in some crypto. Since they are relatively new, I will probably just stick with Coinbase and get them making some recurring buys.
Perhaps in the future they will be ready for some DeFi!
I am just going to finish this up by saying I am in love with CUB. Again, despite the lower price than we have seen "historically", it is awesome watching those new CUBS show up in my account every day. I think I am pulling in about 7 per day now and I move all of that into the pool (sorry @onealpha!).
I love that Alien Worlds and RPlanet have given me the means to dabble in DeFi with zero impact on my other investments/tokens.
Sports Talk Social - @bozz.sports
Posted Using LeoFinance Beta
I need to look at exploring more DEFI projects. CAKE seems legit, but there are so many sketchy projects that you need to stay clear of!
Posted Using LeoFinance Beta
Yeah, I know! I think that is part of the reason I settled on CAKE. It seems like a legitimate alternative to CUB. Addition I guess I should say, not alternative. I am still 90% CUB!
Posted Using LeoFinance Beta
There are so many projects going on, it is really hard to know where to go nowadays. I just keep reading... and reading.
Good luck!
Yeah, no kidding. This DeFi stuff is springing up like weeds. It actually reminds me of my flower beds where I have to take pictures of stuff and send them to my mother in law to ask if they are weeds or flowers!
Posted Using LeoFinance Beta
Ha!! That is exactly what it is like for me!
I haven't bother going into CAKE and I think it will do well. But I think they had some hiccups after pushing a few updates as one of the people in the @leomarkettalk said they pulled out completely from pancake.
Its nice that Alien Worlds and RPlanet is funding your entire adventure.
Posted Using LeoFinance Beta
They had the move from version 1 to version 2 a little bit ago. It seems fairly solid so far. Like I said, the majority of my DeFi will remain in CUB and if I lose it all, no big deal, it was kind of free anyway.
Posted Using LeoFinance Beta
Haha I added to CUB today since I am hoping to ride the train a little bit as well. I was a bit confused about how to put things into a farm but I got my answer in the discord channel and I am set.
Posted Using LeoFinance Beta
Awesome! Congrats and good luck!
I only use Cub right now. What you are saying makes sense and it will be harder to get CAKE in the future. That said, I am looking forward to Kingdoms whereby we can have "our CAKE and eat it too".
CAKE and CUBbies at the same time. What could be better?
Posted Using LeoFinance Beta
That would definitely be really awesome. I just need to keep some BTC or whatever it is handy to put in there.
Posted Using LeoFinance Beta
Looking into some other liquidity pools outside CUB is on my list too. Just haven't had the time yet. I'm still trying to get a record of what coins I have where and what the returns of. For the most part I have been flying blind so far. I added more into the DEC-BUSD pool today though. 😊
Posted Using LeoFinance Beta
I agree with that. I need to get a list of what I have where. I have so much stuff spread across so many different platforms it is a bit ridiculous...
Posted Using LeoFinance Beta