Hello everyone, and welcome to another article!
In this article, I will detail my experience farming on Cubfinance.
Truth be told, it has been a very impressive and rewarding experience, but I'll detail more in the article.
First off, let's see how much I started with.
I had about $40 lying around, so with a little trimming here and there, i was able to buy $30 worth of BUSD with my own money. And then i separated that into equal halves of BUSD and CUB. I then jumped into the pool.
First though, why didn't I choose the CUB/BNB pool, considering it had a higher APY?
The answer lies in understanding how liquidity pools work. In summary, when there is a large change in any liquidity pool, it is best to have one of the assets as a stable asset rather than a volatile one. Say BNB and cUB went down at the same time. It would affect me more if I was in the CUB/BNB pool versus if I was in the CUB/BUSD pool. I will explain this concept in another article.
Let's move forward.
So I added $70 total to the pool, and staked my LP. Then I waited.
At the time of adding (8 days ago), the APY on the pool was about 336%. Now it's closer to 308%, but I was able to make $5!
Now I know that isn't a lot, but that's a whopping 7% on my entire portfolio in under 10 days. Imagine if I staked $1 million! That would be an extra 70,000 in just 8 days!
Now all that isn't profit. I did suffer some impermanent loss, and my calculations brought that figure to about 0.7% in impermanent loss. So I made about 6.3% on my account net. That's still impressive!
(Basically beats the stock market's YEARLY performance of 3% net!)
CubFinance is out here paying big!
What has been your experience so far? Have you started farming? Let me know down below!
If you enjoyed this post, a like and follow would be appreciated. I'll follow right back!