Interesting projects on Binance Smart Chain
Hi there Leo and Hive Family,
Today I would like to share with you something that you probably already know but it is interesting to mention anyway.
Recently, I have been becoming more and more aware of the BSC projects and their value long term. Maybe this is also why the BNB token is skyrocketing reaching prices above 400$ per coin.
The best way in my opinion to check out what is on the menu is visiting the rankings on dappradar. There we become more familiar with the leading BSC projects and how we can yield more money simply by hodling and staking our tokens:
The ones that interest me the most are PancakeSwap, Autofarm, Goose Finance, and Pancake Bunny.
PancakeSwap is the leader with more than 56,57K users and its token Cake is doing pretty well with current prices hovering around 17 dollars a piece.
So what I did was to buy some Cake but with Limit Order when it was 10 dollars a piece and then stake it in the Pool while waiting for the price to come back to its ATH (Around 20 dollars according to Coinmarketcap). I never buy a token at its close to ATH price. I always place a limit order to at least 50-100% below it. Otherwise it does not make sense to me to invest unless I know it is going to surge like crazy in the upcoming days. I have calculated that in 7-10 days, 1 full Cake is being yielded from the Pool and I can compound it or harvest it immediately. How cool is that. At current prices 17 dollars a week for simply hodling is not bad at all. But that is just PancakeSwap. Let's checkout what
Pancake Bunny has to offer:
How about that. They do have a Farm that Auto-Compounds your Cake token and gives you and APY of 126.77% Cake and 168.89% Bunny at the same time. This means that if I stake my Cake tokens there instead of PancakeSwap I will have slightly better APY on my Cake token and earn Bunny at the same pace with greater APY. Current price of Bunny is 241$. The screenshot if from a couple of hours today. Crazy stuff.
What about Goose Finance:
Well, they are a complete fork from PancakeSwap but they have different things going on. I love the Announcements widget that they have built-in. With one click I can go to their twitter page and see if the project is dead or on the contrary. Well it looks like their project is far from being dead. On Twitter they lay out plainly their phases. Currently rolling out their 2nd part of the roadmap tomorrow on the 8th pf April. This is why the Goose Token price is surging and will in my opinion soon reach prices like 200 dollars a token.
Let's check out autofarm network.
I think that this image shows enough. Even people how are not inclined to invest now in already pumped Cake token, can simply put their Eth, Dot, or Link tokens and reap up to 16% in earnings. That is just insane. No wonder its current price keeps steadily the whopping 3500$ per token.
I am just amazed by the opportunities that these yield farms provide us. But you have to look closely at the projects and double check what they offer. Some of them are rug-pulls or simply dead projects. Let me give you an example:
I took the liberty in checking out this dead project called VikingSwap. If you enter their website, you are greeted with a very familiar front end interface. Wow they are just like GooseSwap. Wow the price is jsut 0.094 cents per token. Oh my God! On coinmarketcap it shows that the price was 75 dollars per token at its ATH. So if I only invest 200 dollars in the project when it reaches 75 dollars, I would be Millionaire! Let's do it right? Wrong!
This is a chart of a dead project and they even say it on their Twitter account. You just need to read and be cautious. The scene I played out above is called FOMO (Fear of Missing Out) behaviour which is a devasting trait and must be controlled if you do not want to get rekt. This project is dead! They copied Goose Finance open source code but Goose Finance are cunning and kept secret a few important lines of their code to themselves leaving Vikingswap the originals and keeping them away from progressing and copy-pasting all of their effort. I read this on their Telegram page. But they saw that too late and now they claim that because of this, they are unable to continue with their project. Maybe this is right! Maybe it is just a soft rug-pull. I don't know. The only thing I know is that you should pay close attention to such obvious things, otherwise you risk losing a lot of money.
I could go on with more examples but this post is becoming too long. As always, thank you for reading my blog. I hope that it was interesting and I look forward to bringing you more useful information in the future.
Stay happy, be peaceful!
Namaste
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