My CUB-Finance Journey: First Day in DeFi and Cub Finance!
Hello Community,
a lot of people are writing about Cub-Finance on Leofinance at the moment.
However I still wanted to share my first time that I'm investing into DeFi with you.
The huge amount of posts about Cub-Finance were also the reason why i got curious what DeFi is all about. After doing a few days of reading about it, I got really excited and join that awesome way of investing as well.
Why CUB and not one of the many other DeFi projects?
For me, the choice of using Cub-Finance was quite easy. First of all the APR is just impressive at the moment. Moreover, and that is probably more important the future of this project is really bright. I know that this high APR will not sustain forever, but the project itself looks extremely promising.
LeoBridge is one of the most exciting feature and will definitely bring a lot of attention to Cub Finance. At the moment I do have to deposit to Binance every time I want to change an ERC-20 Token into BEP20 (as i also had in order to invest into Cub).
Moreover, the team behind Cub, which obviously is the Leofinance team is extremely trustworthy. This point is extremely important. Concerning other DeFi projects I was really concerned, as I did not knew much about the team behind it and some of them had a questionable past.
All in all, I'm very happy to join this project!
How did I invest?
I've used some free funds, that I gained by trading and transferred them as Trx USD-T to Binance in order to able to convert it into the BEP20 (BSC) token.
I decided to invest about 400$ for now and maybe I will add some more in the future.
So after the deposit, i instantly withdrew the USDT but on the BEP20 network.
In retrospect, I should have traded the USDT for BNB, because later I noticed that i ran out of BNB for gas fees, so i had to withdraw another time....
Then I swapped the USDT for BUSD, and then approx. halve of the BUSD for CUB.
After that, I swapped both for LP (I added liquidity) and finally staked it in the CUB-BUSD Farm :
Note: After swapping Tokens for Farm LP you need to approve the contract and stake the LP tokens, do not forget about this, otherwise you will not earn rewards!
Regarding this I have a question:
Do I always have to confirm first (pay fees) and then I can trade/stake or whatever (and pay gas fees another time)? Or is there a cheaper way?
All in all, the fees sum a little up due to the several times we have to do transactions...any tips how I can save on that?
What when I want to compound my CUB gains?
Do I have to do again 3 or more transactions? Cause this would cause a lot of costs and it would therefor not be worth it to harvest and compound frequently?
So, here is my current stake in the CUB-BUSD Farm. I'm really looking forward what the feature has to offer for CubDeFi.
I hope the high APR will sustain for some time now...
What's your guess how CUB price and APR will develop in the next weeks/months?
Thank you for reading!
I would also like to get some tips on how to provide better articles for the community and also on how to get more engagement and what ways there are to "get more involved". Thanks.
P.S.:
I was just provided with some useful information from a comment from @bananass.
This Spreadsheet can help to find out when it's best time for compounding.
On this website you can see your current USD staked in Cub-Defi Farms or Dens:
Found in an article by @krnel.
here we can again see, how awesome this community is! :)
Posted Using LeoFinance Beta
https://twitter.com/BeauBuyer/status/1377339495637377026
You only need to pay to confirm once to stake to an LP pool. Next time, when you one to add more LP tokens or reduce your LP tokens from that pool, you only need to pay network fee.
In the CUB/BUSD pool there is no compounding button like the CUB pool in the DENS. In the DENS, there is one button which you can click to compound your earning in the CUB pool.
Posted Using LeoFinance Beta
Okay that‘s good to know, thank you - this saves me some regarding fees at least
So when I want to compound in a Farm, i have to do 4 transactions right? That‘s around 1.6$ for one time reinvesting?
Posted Using LeoFinance Beta
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STOPCheck out the last post from @hivebuzz:
I've just been sticking in the Cub Den for the most part though I have played around with some other pools. I'm liking that the ARP is up a bit this week over 200%
Posted Using LeoFinance Beta
Yes the APR in the Den is great at the moment.
I think I will buy some Cub at this discounted price at the moment and stake it in the Den as well! (Because I also expect rising price of Cub in the future)
Posted Using LeoFinance Beta
I happen the APR will eventually fall to 25% and HODL while the token takes off to $50 USD.
Posted Using LeoFinance Beta
You think the APR for the Dens or Farms?
50$ CUB price would be awesome!
But only future will tell! :)
Posted Using LeoFinance Beta