Cub Finance - My Wonderful First Update
Introduction
I used the interface of Cub Finance a few days ago and made an investment in the platform. So far I am thrilled and is very fun to see the number increase in the bear market of 2022. It is a small amount but a proof of concept that is working like a charm when the price of CUB stays stable.
The investment is on the farm of BHBD-BUSD, which is two super stablecoins that track the asset of USD. When you want to invest with peace of mind with stability. It is an easy choice without thinking twice.
In the pool, you can see people have put over $263000 in total value locked (TVL). Not the most popular pool out there, but one we can trust. If you have managed your risk properly and you understand the basics of the risks involved investing in DeFi. You can generate a good passive income stream, but be aware that you need to track it often. It is not something you leave on the shelf, then forget about it.
My progress in Cub Finance
It is been less than a week since I invested a small amount and make a comeback to the world of DeFi. During the bear market is not always the best place to put your money because of the extreme volatility of assets like CUB which can lose a lot of value. Some tokens have lost almost 97% of their value in terms of fiat value, not a cool thing.
My first target is to reach $2 in income to give me the motivation to track it daily. And make sure my plan is benefiting me. I know I cannot even buy a coffee but is money I make without working for it.
I created a small spreadsheet where I put the number of CUB I get daily with the correspondence in USD. I have the feeling of making daily progress in the right direction and this puts fuel to keep going. One thing that is very important is not to claim your tokens daily for avoiding the transaction fees that can erode your profitability.
I don't know which frequency I will claim my tokens, but maybe once a week or twice a month. In the meantime, I hope to reach my first target of $2 in the coming days. It is a small step, but very exciting to give DeFi a second chance in the bear market of 2022.
Conclusion
Investing in DeFi has a big element of risks, but if you have made your due diligence is a good way to generate a small income. The pool of BHBD-BUSD is decreasing in terms of profitability, but I plan to keep going there. APY is now around 30% and I expect to keep going down in the coming days.
In the short term, I accumulate the CUB tokens, and hopefully, I will reach $2 in the coming days. When we are living in a time of abundance where everyone can make money in the blockchain.
PS: I am not a financial planner and take this information for educational purposes!
Have a wonderful day!
