Diversifying out of Binance Smart Chain and into Polygon, ThorSwap and Cosmos...

It was always my intention to diversify OUT of Binance Smart Chain once more attractive DEFI opportunities came along, and fortunately there's been three options which have 'matured' enough recently to tempt me to take SOME of my funds out of BSC....

I've spent the last week jiggling funds about and FINALLY I'm happy with the balance I've got!

The three options I've diversified into besides CubDefi are...

1. PolyFish Finance on Polygon/ Matic (How to get started tutorial Here)
2. RuneSwap - or staking on Rune Mainnet (My experience with doing this here)
3. Osmosis on the Cosmos Chain (My experience of this here)

My New DEFI asset breakdown

My new 'platform diversified defi portfolio' looks like this:

Keep in mind that two weeks ago, my DEFi funds were 100% on BSC.

I like the way the Cub price is holding up and the returns on Cub Defi, and I trust the @leofinance team behind it, hence why I'm prepared to leave most of my funds in Cub Defi on BSC.

The only thing i cashed out to diversify was most of my USDT-BUSD and half of the Cake I had staked in one of the kingdoms.

I had some funds on Panther and Pancake itself which I'm now entirely out of.

I've opted for equal ins on Polygon and Rune, the former because the returns are good and the later because the BEP returns had gone down and ThorSwap Main offers IL protection

Cosmos is really just an experiment, but it's working out nicely!

Sticking with Cub Defi, mainly

Nothing too exiting here.. I've got equal dollar value amounts of BTC and ETH 'working for me' in the Dens - to be transferred to Kingdoms soon whenever they ever come out!

And around 40% overall in stables either in stable-farms or paired with something else.

You'll note I don't hold that much Cub - although A LOT more than I hold of any other native DEFI token - my general rule is to NOT hold too much of the DEFI coin, but I've made a small exception with Cub!

I just think the long term future of the price is better than for FISH on Polygon.

Polygon

I couldn't resist getting into Matic - my main reason was because it was somewhere I could stash some USDC (traded for USDT and BNB mainly) for a decent return, so I stuck around half of that in single asset pools and then went into various other pools and farms too.

I also broke the golden rule of 'never buying the native shit coin' - but I bought a little FISH at around $!5 and it's holding up OK, up slightly!

I actually sold some Cake for FISH, I figure this was a like for like trade, and BNB for Matic, thinking the same.

It's going OK for now.

Rune

OOH - look at the pie chart - Rune being pooled with the other three - this is what I had on BEP that I could transfer over to RUNE - I'm liking it so far I must say, so much so that I might got for some stable coin asymmetric pooling next time the caps are raised!

With IL protection you can't lose after all, well, unless the Rune price goes down of course!

Osmosis/ Cosmos

I already had some AKT, but it was all staked, so I sold a few bits and pieces to accumulate some more AKT and some brand new ATOM, which I was looking to pick up anyway, and went for a small in on Osmosis

I also bought some OSMOSIS to stake with AKT, hardly any, as you can see, it's nearly paid for itself only after a few days as the price has held up here too.

Final thoughts - happily diversified!

While I do like Cub, I wasn't happy having so much money staked on a centralised chain, but now I'm feeling a bit more secure in my diversification into more decentralised options, although they of course come with their own risks.

But it's now less likely that I'll lose EVERYTHING I've staked in DEFI thanks to my diversification!

My feeling is that my positions in both Rune and Polygon are going to expand steadily over the coming months, and I'll also probably stake some stable coins and ETH on the ETH network, for lower returns but further diverisification.

Posted Using LeoFinance ^Beta