If you are looking for a way to earn yield and trade assets on Binance Smart Chain (BSC), you might want to check out CubDeFi, a DeFi platform that operates the Multi-Token Bridge (MTB).
What is CubDeFi?
CubDeFi is a DeFi platform that launched in March 2021. It is powered by CUB, a BEP-20 token that can be staked, farmed and burned. CUB has a total supply of 1 million tokens and a deflationary mechanism that reduces the emission rate by 1% every week.
CubDeFi offers several features, such as:
- Multi-Token Bridge: This allows users to swap tokens across different blockchains, such as Ethereum, Hive and BSC. For example, you can wrap HIVE or HBD tokens into bHIVE or bHBD tokens and use them on BSC.
- Farms and Dens: These are liquidity pools where users can stake their tokens and earn CUB rewards. There are various pools available, such as CUB-BUSD, bLEO-bNB, bHIVE-bNB, and more.
- Kingdoms: These are composable yield farming contracts that automatically compound the rewards for users. For example, you can stake CAKE tokens in the CAKE Kingdom and earn both CAKE and CUB rewards.
- Lottery: This is a feature where users can buy lottery tickets with CUB and win a share of the jackpot if their numbers match the winning numbers.
Why use CubDeFi?
CubDeFi has several advantages over other DeFi platforms, such as:
- Low fees: BSC has much lower fees than Ethereum, which makes it more affordable and accessible for users to interact with DeFi protocols.
- High returns: CubDeFi offers attractive APRs for its farms and dens, as well as additional rewards from its kingdoms and lottery.
- Cross-chain interoperability: CubDeFi enables users to access a wider range of assets and opportunities across different blockchains through its MTB.
- Audited contracts: CubDeFi's smart contracts have been audited by CertiK, a leading security firm in the blockchain industry.
How to get started with CubDeFi?
To get started with CubDeFi, you will need:
- A wallet that supports BSC, such as MetaMask or Trust Wallet.
- You will also need some BNB tokens to cover the gas fees on BSC.
- Some CUB tokens or other supported tokens to stake or farm on CubDeFi.
You can buy CUB tokens on PancakeSwap, the leading DEX on BSC. You can also swap other tokens into CUB or other supported tokens using the MTB on CubDeFi's website.
Once you have your tokens ready, you can connect your wallet to CubDeFi's website and start exploring its features. You can stake your tokens in the dens, provide liquidity in the farms, join the kingdoms, or buy lottery tickets.
You can also track your earnings and performance on CubDeFi's dashboard. You can harvest your rewards anytime or reinvest them for more compounding.
Final Thoughts
CubDeFi is a DeFi platform that offers users a way to earn yield and trade assets on BSC. It has a unique feature of the MTB that allows cross-chain swaps of tokens. It also has attractive returns from its farms, dens, kingdoms and lottery.
Image edited by me using Canva.
Sources:
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