Understanding What You're Doing

LeoFinance
8 days ago
3 Min Read
505 Words

When Khal started to drop hints on Twitter about keeping some liquid LEO, we had no idea why but as we trust him, we started to accumulate liquid LEO. I did the same as I knew something good is coming.

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Then we got CUB DeFi, but no CUB airdrop as it was delayed a week I believe. So the only way to take advantage of those crazy APR's was by investing your own funds.

I started with the bLEO - BNB LP farm as I had my liquid LEO ready and didn't want to buy CUB before the airdrop. Wrapped my LEO to bLEO, provided the same amount of BNB, to receive LP tokens and there I was, a liquidity provider in the bLEO - BNB LP farmbLEO - BNB LP farm.

The next day my staking details started to change. The total amount of bLEO started to drop and the amount of BNB started to rise, while I was earning CUB. That was an impermanent loss, normal in liquidity pools.

Up until a few days ago I had less bLEO than I have pooled initially. Now I have a little more bLEO then the initial amount pooled and a little less BNB but the Dollar value of my investment has grown quite a lot as BNB was around $232 when I pooled my assets and at the moment of writing it's $341.93. Unfortunately I don't have a record of my CUB earned from this pool alone but I'm sure I've earned quite a few.

At this point I'm satisfied with the results as not only I have (almost) doubled my investment in USD, but I've also earned CUB which can moon soon.

I need to track my earnings from now on to see how I'm doing CUB wise.

This is a brief check on my bLEO - BNB LP farming. I'm still a very small fish here and not pretending I know everything, but I'm trying to learn every day. That's the only way if you want to do well and avoid permanent losses.

Den is nice if you're satisfied with what you can earn but I'd like to increase my stake in the CUB - BUSD LP farm as it's with the highest APR still. The zero deposit fee is also another incentive here. It was a fun game moving some Hive to Binance, trade it to BTC, then to BUSD while trying to get the same value in USD. I was lucky to catch Hive at $0.84 as today I'd have lost $0.1/Hive. I love this game.

I had a post earlier today, about how many good opportunities we have here. This is one of them, an opportunity to get some passive income while you do nothing. Wake up in the morning, check your bags and see they are full. What can you be more exciting? However, farms need to be kept an eye on as things can change quickly, but still, it's a nice opportunity.

Posted Using LeoFinance Beta