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CIB: Crypto I Bought #4 - IoTeX, Staking SPS - BNB, PLEO - WMATIC, PolyCUB

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Mark Carrington
@carrinm
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5 min read

More staking - some new and some repeating things that work and one new trade

Portfolio News

Snapshot of CUB staking

Not sure what is happening here - the last portfolio snap (Mar 17) showed 3252.69 CUB staked and 217.944 pending airdrop - this one is lower = weird as I have not harvested any CUB - as far as I can see the CUB staked number should not move if I do nothing.

Bought

Ran through the regular scan to see coins breaking up - I have a few portfolio models - this one is one of the Rising Ten - fastest risers in 6 months to December 2021. Basically what I do is work through all the charts relative to BTC and ETH and pick ones that are showing signs of reversing or topping out

IoTeX IOTEX/ETH. Price has been cruising along a support line for months. MACD - lower window is making higher lows while price is making level lows = divergence signal to buy. Doubled my holding to average down a little (7.5%)

IoTeX claims to be the fastest, most secure, and most scalable blockchain platform on the market - all about Internet of Things. https://iotex.io/

Sold

IOTX purchase selling ETH - I cannot really track profit as the ETH were mined a long time ago.

Staking

Staking SPS - BNB on CubDefi

Splinterlands is proving to be a blockbuster game on the Hive blockchain.

One of the relatively new kingdoms on CubDefi is SPS-BNB offering an APY of 44% (Mar 18). CUB and CAKE are higher but I do like to diversify things a bit especially when I do not have time to research in detail. I did do some base research - SPS price has been hammered - the charts show a glimmer of light - one against ETH

And one against USD - hard to say it has broken the downtrend but there is a higher high on the USD chart

Maybe worth a little punt - 44% APY will fix a fair bit of price decline. And BNB will not decline the same way.

Process steps are simple enough - buy some SPS and make sure there is enough BNB to match the stake and to cover fees.

Here are the detailed steps

  1. I had enough BNB in a wallet to make a small transfer ($50 worth). Transfer BNB from Binance to Metamask wallet attached to Binance Smart Chain - make sure you chose the right chain from Binance end - they offer a choice.

  1. Swap the coin you want to sell for SPS from the link on CubDefi - this gets executed on PancakeSwap. I chose to do ETH as I already have wrapped ETH sitting in the BSC mainnet. It is worth testing Paraswap.io to see if there is a better swap. The corect contract for SPS is 0x1633b7157e7638c4d6593436111bf125ee74703f They are easy enough to find on Coingecko.com

  1. Now you have BNB and SPS in Binance Smart Chain create SPS - BNP LP from the CubDefi link - this also happens on PancakeSwap - choose the amount of coins (I did Max for SPS) and hit Supply.

  1. Once that is confirmed you can head back to CubDefi and you will see your LP balance under the Deposit button - I did $100 worth - half SPS and half BNB - hit deposit

  1. Once that is confirmed you will see the balance move across to
    Deposit (Staked) column - APY for mine is at 43.22%

Staking PolyCUB

I must say the documentation on early harvest penalties is hard to grasp. I found a Hive post which went through the detailed steps. What I learned is when Polycub shows that airdrop coins can be claimed, claim them

This is the screen - it shows none can be claimed as I had claimed mine

And staked them in xPolyCUB - APY at time of writing (Mar 22) was 920%

Staking PLEO

My plan is to move LEO to stake whenever the balance goes over 50. Process steps run like clockwork. Make sure you have enough MATIC to cover fees

  1. Bridge LEO to PLEO using wleo.io. Enter Polygon address and Hive user name - sign off. You do need to know what your balance is to transfer. PLEO waiting to go

  1. Once the PLEO arrive at Polygon mainnet - you will get notified - head to Polycub Farms and Get PLEO-WMATIC LP - this happens on SushiSwap. I have enough WMATIC waiting. This pops up the LP screen - as I am using all the PLEO - I hit that Max button - then confirm in SushiSwap and metamask

  1. Once that is confirmed back to PolyCUB farms and hit the big plus button - if your LP is confirmed it will trigger and offer a Stake LP tokens screen - choose your number or hit max

  1. Confirm at Polycub and Metamask - staking a 382%. This APY is small but basically what I am doing is getting LEO I earn from delegating to work in the farm.

Next Steps

I have earned 133 PolyCUB - I do not know yet whether to harvest or not. It feels like they are not working.

Key Links

CubDefi Kingdoms For staking SPS-BNB https://cubdefi.com/kingdoms

Buying SPS Buy them on Pancake.Swap. This is the contract address for SPS if you have not already got it set up 0x1633b7157e7638c4d6593436111bf125ee74703f https://pancakeswap.finance/swap

Paraswap Try Paraswap to test what is the best swap route. https://www.paraswap.io/#/?network=bsc

Converting LEO LEO can be farmed on CubDefi and Polycub. Be sure to covert the correct form - PLEO for Polycub https://wleo.io/polygon and BLEO for CubDefi https://wleo.io/bsc. Clue P for Polygon mainnet and B for Binance Smart Chain.

Polycub Farms To stake PolyCUB pairs like PLEO-WMATIC https://polycub.com/farms

Cautions: This is not financial advice. You need to consider your own financial position and take your own advice before you follow any of my ideas

Images: Buy/Sell/Stake image is based on royalty free photo under CCO public domain licence from piqsels.com. CubFinance logos come from CubDefi media kit. All other images are created using my various trading and charting platforms. They are all my own work

Tickers: Crypto tickers come from TradingView

Charts: http://mymark.mx/TradingView - this is a free charting package. I have a Pro subscription to get access to real time forex prices

Trading: Binance offers a wide range of coins to trade, tight spreads and low fees if you use BNB to pay https://mymark.mx/Binance

Kucoin offers a wider range of altcoins than many of the other exchanges. I do like to diversify my holdings in case an exchange gets knocked over. Grab 15% discount on your trades whn you open an account on this link https://mclnks.com/kucoin15

Tracking: Keeping track of your crypto trades is a whole lot easier with CoinTracking.info. Get 10% off all your account upgrades https://mymark.mx/CoinTracking

March 18-22, 2022

Posted Using LeoFinance Beta