Whats the best place to stake RUNE?
Hello, SPIer's. I had planned to write a post today about the positive upswing in the crypto market but since I've arrived home, I see I can't write about that anymore. Before I get started and just an FYI for regulars, after being furloughed 100% for 5 months and working on limited hours for the past almost year, im starting back to 5 days a week next week. This means that all of the work I've created for myself and SPinvest since March 2020 will become a little more challenging so if I miss a few questions here are there in the comments are I take a long time to write you back on discord, it's not intentional and im not being trying to be rude. I have a family as well, haha.
Anyways, with that in mind, if me not having a bunch of time and us just buying some RUNE last week, I wanna know what's the best way to earn from RUNE? I'd prefer to stake over LP and I understand the APY for staking is less. I still think we are in a crypto bullrun and LPing in a bullrun is not good. We learned this with wBTC/ETH where we held for 6 months between Nov 21 and May 21. We came out around $1800 worse off for doing so. If we had just held the BTC and ETH, we would have made $1800 extra so the few hundred dollars in LP rewards were nothing when we consider the IL loss we made. Fool me once and all that.
So because I think we're still in a bullrun, staking is the best option. Im very new to RUNE and will learn more about it when I start to use it because for now, I need some pointing toward to right places to get started. I know there are a lot of RUNE supporters out there in HIVE/LEO land so share your secrets with me :) a help SPinvest earn a little extra.
We bought 115 RUNE on a -25% day and since then the price has recovered a little. The spreadsheet is saying we've already made an 18% ROI so if the bull run is still on, we could see that number increase some more. If we can earn 5-20% from staking it, that's the cherry on the cake and the sugar in your tea.
Where is the best place?
Please let me know in the comments below, right now they are sitting in the binance wallet being wasted. Show me the light 😎
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I'm glad you asked this. I'll be interested in the replies too.
I hope your return to work is not too much of a shock to your system! 😂
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@gillianpearce
Lol i am on that same table too...
I dont know the answer but getting some RUNE is a good idea since we are going to see that added to CubFinance. So we will be able to keep it all in one pot, hopefully earning double rewards on it when it is turned into a Kingdom.
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They will also add ruNE in Cub? that would be great, since most of those who publish in leofinance have RUNE.
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waiting on bHIVE still with crossed fingers :)
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Excellent post, admittedly i've been playing around in LPs this last little while to learn more about it. The APYs are hard to resist but, what you have said makes a ton of sense. I will now be pondering my overall strategy a bit more.
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LP's are so complex. When you think you know it all, BOOM!, you learn something else and add another trick to the ammo. Im learning about IL insurance atm :)
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I don't know about any RUNE staking. But don't they have IL protection, if you pool for more than three months? I thought any IL is paid back on both sides. Not sure about that, though.
That's what im hearing for if you stake over 100 days are something. I've already checked out their site so i need to add a RUNE network to my metamask wallet and im good to give it a test :)
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There is no RUNE staking. Unless you have a million RUNE to run a node (plus a large amount of technical expertise) there is only Liquidity Providing.
Sadly, RUNE is not a staking coin, at all.
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No worries :'(
We dont have $11 million yet and if we had, Lambos all round? haha
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Correct...!!
You can provide liquidity on BEPSWAP - Binance Chain (cheaper than BSC) but there's no IL protection, other than that it's chaos mainnet which has IL protection but much lower returns!
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Thank you, I'll check that out. I got a link to their main one but i'll check out the APY's for BEPSWAP before making any transactions.
Thanks for sharing
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What is IL protection, is it imperminent loss protection, I read it is there in chasnet.
Yes sorry lazy abbreviation there!
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I also want to know what to do with Rune I have it in that asgarad wallet.
And I like to undertand why LPing in bull market not good, is it because people will take out liquidity more from the pools and you earn less because the price of your cryptos diminish with slippage and all.
I am so sorry but I am still not into DEFI space, even though I am following it and this slippage and permanent loss stuff, I am wondering what it is, can someone enlighten me,
Thanks.