DeFi - Week 5 - High Risk, High Return

As I end my 5th week of my DeFi journey things are getting interesting. I checked a game I joined last year and hadn't played in a long time and found I had been airdropped around $1000 of tokens which I withdrew and sent to Crypto.com. I exchanged some for WAX which I have invested in another game Million On Mars, I exchanged a big chunk to USDC and withdrew this to my Crypto.com debit card and paid for a short break for myself and my girlfriend, I had a small amount left over which I converted to 46 Fantom and decided to risk it all for high yields expecting to lose it all. This was 3 days ago, I will look at this further down, first I will look at the existing DeFi I have on Cubdefi still.

Looks like my LP is worth 0.52 BNB now, when I started 5 weeks ago this was 0.65 BNB, so I have lost 0.13 BNB.

I have 17.019 CUB to claim this week, which I will leave in to save fees.

I had some more POLYCUB to claim from having my BNB-CUB LP staked in the Cubdefi farm, I have claimed this and added it to the xPOLYCUB farm with the rest of the POLYCUB I got from this airdrop, still on a loss here but will stick with it and evaluate when the airdrop is over.

So having experimented with DeFi and lost on all farms I have tried I have decided that pretty much I should just be HODLing and staking as impermanent loss is just eating away at my capital, If I want to win in DeFi then it has to be go big or go home. I had $55 left from my windfall which I can afford to lose. Easy come, easy go.

I decided to convert to 46 FTM and send to my Ledger. I then went to Yieldwolf and looked for some high yield farms.

I Invested it all into this 1 farm to start with.

APY was huge, 10% a day to start with. There was TVL, enough to make me think the risk was worth it.

After a day and a half or so my investment had grown by nearly 20%. I decided at this time that I should withdraw 0.7 LP and put it into another farm to diversify a bit.

Not as much APY here but it is still high and diversification is always a good thing.

I have been surprised at the rate of growth I have got over 3 days and fully expect a rugpull or a token dump at some point, but I have capital I can afford to lose, the hope is I can make enough and get it out before this happens, I am only risking $55 and this is actually fun, seeing how much I can grow it before I lose it.

Tune in next week to see how things are going and please do not take this as financial advice, this is high risk and is for entertainment purposes only.

Posted Using LeoFinance ^Beta