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Cub Finance is Defo my Number One Choice for BSC DEFI staking

avatar of @revisesociology
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Zebedee
@revisesociology
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3 min read

I was originally attracted to BSC DEFI in early March 2021 by the high 100 + percent yields on the single stable pools on autofarm. At the time I regarded this as a high risk platform on which to stake my stables, but decided to punt a few hundred dollars nonetheless, well under 1% of my total crypto portfolio at the time.

After a few days and a little more research, I decided to sell 20% of my ETH to buy Cake and BNB and go deeper into autofarm and stake in some of the farms on Pancake Swap too.

And I then diversified further into BEPSWAP, pooling some of my Rune with AVA, BNB, USDT (asymmetrically), BAT and SXP. BEP isn't BSC, it's Binance Chain, with even cheaper staking fees.

Like many people I've realised that BSC DEFI is a great place to stake stables and get a decent yield - I was on a roll back in early March and even used some BTC to collateralise a VAI loan on Venus.io, which I swapped for various other stables to go in even deeper to BSC stable pools.

I'm a little wary of staking on Binance Smart Chain, given that it's centralised, so I quickly made the decision to limit my BSC staking to 5% of my crypto portfolio. I have most of my funds still in cold storage.

Having tried some of these well-known BSC DEFI options I was well-placed to take advantage of my Cub air drop when Cub Finance launched in early April 2020. As with many other new DEFI projects the initial returns were insane, and I transferred all of my Autofarm and Venus stake into Cub.

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Of course the Cub APYs settled down over the following days and weeks but I stuck with it and gradually increased my stake in Cub Defi and I'm in several Farms and 'Dens' (Pools) on Cub, diversified across the following, with varying APYs:

  • USDT-BUSD - 50% APY
  • DAI-BUSD - 54% APY
  • DEC-BUSD - 73% APY
  • CUB-BUSD - 250% APY
  • BTC Den - 13% APY
  • ETH Den - 20% APY
  • CUB Den (naturally!) - 83% APY

So I've tried out a fair few DEFI platforms and ended up mainly in Cub - as it stands here's how my current DEFI stake works out:

Why I'm Banking on Cub

The primary reason is trust in the @leofinance team - Cub Defi is one of the very few BSC DEFI projects with a front man who isn't anonymous - an actual person who does regular live streams updating on developments.

And there's a proven track record of Trust, following the previous wleo hack on ETH, when users were refunded their lost funds.

This is the reason why I'm keeping my ETH and BTCB in Cub Finance rather than switching to Panther even though that offers higher returns, I can put faces to the team behind Cub, I can't do that with Panther or most other DEFI projects for that matter.

Cub Defi is also the only DEFI project I know that's linked to a working project on another blockchain - leofinance on HIVE, which somehow gives the project more depth. At the very least this offers a decent advertising Platform for the project.

And there are new developments being planned going forwards, such as Kingdoms which will allow stakers to earn in BTC/ ETH etc. rather than just Cub, and plans for Cub as a governance token.

Finally, the returns in the Cub-BUSD pool, while risky, are very attractive, and with a relatively low TVL I think there's plenty of room for the token price to go up from its current valuation (just under $1).

Other DEFI Platforms I stake to

More recently I've diversified into Panther because that offers me a single asset WBNB pool with a very respectable 200% APY, even NOW!

I also (maybe irrationally?) keep some BNB-LTC and Cake in Pancake.

And Rune is also all about diversity, and it's the only place I can stake my RUNE ATM for a decent return!

But it's mainly about Cub for me, almost 70% in, and I've just gone deeper into Cub-BUSD today, seemed like a good time to my MOAR CUB!

If you want to stake to Cub...

Just CLICK HERE and read the docs, everything you need to know is covered in there!

Posted Using LeoFinance Beta