Visiting Farms On Smartchain (PolyCub Airdrop)
My attention revolved around SmartBCH recently and I had no time to check my other investments outside SmartBCH, specifically on Binancr Smartchain. It was 10 months ago when I added assets to the liquidity pool again of CubFinance and tried PancakeSwap Auto Staking. My investments weren't that big compared to others, but enough to add small amounts to my passive income monthly.
The crypto market is still in a roller coaster state and hasn't fully recovered yet from consecutive market crashes and deep dips, putting red marks on different crypto portfolios. And it is still uncertain when we'll be able to recover our huge losses. The recent dip affected SmartBCH as well and the prices of all my holdings are also down.
In times of market swings, the only thing left that would give us passive income are the DeFi platforms. Because despite the market crashes, DeFi is continuously giving profits and adding digits to our portfolio, either small or big.
So just the other day after reading @PVMihalache article about the CubFinance anniversary, I opted to visit farms on SmartChain.
PancakeSwap Auto CAKE
It was 10 months ago when PancakeSwap launched its Auto CAKE staking so I moved my CAKE tokens to Auto pool to get compounding interest on my profits. If my memory serves me right, that was the time when CAKE was still on hype and its price crossed above $50 per token, but at the time of staking, it went down to $33.92.
The APY wasn't that high and it was only 148.57%, but higher than the APR on manual CAKE pool. I staked the CAKE tokens in my wallet including the profits I got from manual CAKE staking. All in all, I got 12.886 CAKE which was worth $437.12 by that time.
At the time of writing, the APY dropped to 58.74% as well as the CAKE price from $33.92 to $6.15. Thus, giving more than an 81% decrease in my investment in CAKE.
Although I got a profit of 8.18641 CAKE worth $50.19, the total amount is still down and only worth $123.07 including the initial investment which is a big difference from $437.12 worth of CAKE initially staked on the pool.
Nonetheless, it is still a profit and I better hold them until CAKE flies to the moon again. It is uncertain though, but better than not gaining anything.
CubFinance and Polycub Airdrop
On the same date as when I tried the Auto CAKE pool, I added LP to CubFinance farm pairing 38.7941 CUB to 101.032 BUSD and I got 60.95 LP tokens which I staked on the farm with 294% APR. The CUB's price was $2.63 per token.
But a month before adding LP to CubFinance, I invaded the Dens and staked the small amount of CUB I bought using my BNB. And in July, PVM mentioned the new Kingdom Auto Staking of CubFinance so I moved all the CUB I got from the Dens as well as the profit from farming. The fee though was a pain in the ass.
All CUB was worth around $50 earning 94.67% APY. And in the first few months, I was harvesting profits from the farm and compounding them on the Kingdom pool but I stopped adding after a while since I ran out of BNB in my Smartchain account.
So far, from the time I staked CUB on different pools, I got more than 160 CUB from them which is better than nothing, even though its price dropped to below $1.
Polycub Airdrop
And just this week, I heard from PVM about Polycub airdrop for CUB holders and stakers so I opted to check mine. I luckily got 19.390 or $85.32 worth of Polycub from the total staked CUB I have on CubFinance.
The airdrop amount varies depending on the CUB amount you staked on CUB Kingdom, CUB-BUSD, or CUB-BNB farm. The more CUB tokens you staked on these three locations, the more Polycub you will get.
So to get more Polycub, I harvested my profits from the farm and compounded them to the CUB Kingdom including the remaining CUB in my Trustwallet.
This gave me a total of 337.614 staked CUB on CubFinance and 29.039 Polycub from the airdrop.
The snapshots will be taken for 60 consecutive days and a percentage of Polycub tokens will be distributed daily to your Polycub balance which you can stake on xPOLYCUB to earn the 50% generated fee by other farmers. And at the time I checked the Yield Optimizing Platform, the APY on xPOLYCUB was more than 4300%.
It was tempting but the price was high at more than $4 per token. But I tried to buy a small amount and staked them on xPOLYCUB to generate small rewards including the small amount of Polycub I claimed. The rest of the airdrop rewards are still unclaimable because the snapshots and distribution will run for 60 consecutive days.
To Participate in PolyCub airdrop
If you want to participate in this airdrop, all you need to do is buy some CUB tokens and stake them either on these three locations:
- CUB Kingdom (Auto Staking)
- CUB/BUSD Farm
- CUB/BNB Farm
The more you stake, the more PolyCub you will get.
To know more about it, just visit the PolyCUB DEX.
#leofinance #smartchain #polycub #cubfinance #pancakeswap #defi
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