My Latest Investment: BAND Protocol - 15% - 17% Return
As a cryptonut i'm always looking for value where I can find it and as you move further down the risk curve you tend to be rewarded higher than others, I'm not afraid of taking small risks which is why I like to give these things a shot. I recently came across BAND token which launched its mainnet this month, BAND is a very similar project to another popular currency called ChainLink but it's offering you 15-17% APR to get in staking on their mainnet.
Unlike chainlink that only allows you to stake via Link Pool, Band, The Cosmos based chain allows you to stake via a number of methods, my method of choice was the Atomic Wallet, where I am already staking Tezos and Atomic Wallet coin, so it seemed like a no brainer to do my staking via this hot wallet.
What Is Band?
Band Protocol is a cross-chain data oracle platform that aggregates and connects real-world data and APIs to smart contracts. Blockchains are great at immutable storage and deterministic, verifiable computations — however, they cannot securely access data available outside the blockchain networks.
Band Protocol enables smart contract applications such as DeFi, prediction markets, and games to be built on-chain without relying on the single point of failure of a centralized oracle. Band Protocol is backed by a strong network of stakeholders including Sequoia Capital, one of the top venture capital firms in the world, and the leading cryptocurrency exchange, Binance.
How to get Band
According to @coingecko Band currently sells for around $1.12 and is up from its launch 7 months ago of $0.20 so far, you can find more about Band here. You can buy BAND on Kyber Network, Uniswap and Binance but be warned apart from Binance the rest all sell BAND as an ERC-20 token so you'll need. to convert your band to native BandChain tokens first before trying to stake them.
- I purchased my BAND on Uniswap simply because I like using DEX
- Then I had to use Binance to convert it
- Before I could send it to my Atomic wallet for staking
Note: Atomic wallet offers support for both the ERC-20 token and the BandChain token, BandChain addresses begin with band, so it's important to take note so you don't lose your coins by sending them to an incompatible address.
Once you've converted your tokens or bought BAND from Binance you can send it to a wallet address in Atomic wallet.
- Then all you got to do is select the staking
- Select Band
- Set ho much you want to stake
- Click Stake
- And you're done and well on your way to getting 15 - 17% APR
I don't see this as a get rich play but I'm happy to get in on the ground now while the main net is still forming and I get. high yield for the risk I am taking. As the chain matures and users begin. to buy in and stake I imagine the network will adjust to lower yields and hopefully by then I've picked up a decent stake.
When I look at the popularity of chain link and that BAND has a similar play and the backing they have from Binance and Sequoia, I thought to myself it would be worth a shot.
Very happy with my buy
Have your say
What do you good people of HIVE think? Would you give Band a shot or am I nuts?
So have at it my Jessies! If you don't have something to comment, comment "I am a Jessie."
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Posted Using LeoFinance
staking staking staking.
It feels like staking is the new ICO bubble. Everywhere with higher and higher return.
My cat say Hello.
Isn't that the truth, ever since ETH announced that they were going to move to POS and start staking all these other alts are now on a staking frenzy trying to use it secure funds
yes I agree.
Pretty cool, I might cover this one this week, thank you for sharing it. :)
Sweet lol the process can be quite a pain so a video would surly help
I might create one during the week. ;)
Here he is, Sir Stakesalot! Though that seems to be the thing these days, stake and get a return on that token if you don't mind a "flutter".
Will be looking in to some of your other dodgy sites once I've got to Orca and get my stake and chips going 😉
Lol if I see a favourable interest rate I'm going to take it, the 2% I'm getting at the bank is basically negative when you factor in our inflation so I might as well jump in early on the Ponzi
Haha, 2%? That's pretty good mate, over double what I get and about 6x in another account! You must be raking it in!
But yeah, I'll send you a message about that GBP interest one you mentioned where you buy a GBP token and stake it for interest? Was that Celsius? Can't remember now
Yes its Celcisus you would need to trade your GBP for True GBP and then you can drop it in their account and score 6-8%. What's cool is you can use that currency to pull a 50% loan should you need capital again and then pay it back while your digital bucks still collect interest
Not bad at all, sounds like it'll be worth throwing some Queen's nuggets at that and acquire even more sats 🤑
I have to learn all of this crypto. I think about you being my crypto teacher🤔😂
Lol happy to teach anyone willing to listen to all this boring technical stuff, as for this, I openly say its a risk and not for everyone.
Good to know I could reach out to you
Lol don't ask me tough questions though :P
I will prepare a list with what I want to know📃😁
i'll buy some BAND on uniswap for the hell of it ... peace bro
Lol good luck but as I mentioned you can’t stake uniswap ERC-20 coins so if you you’ll need to use Binance! If you don’t want to use them I’m happy to convert it through my account and send it to your atomic wallet