I made the plunge into CubDefi! After staking some little bit of CUB into the CUB Den, I went deeper into the whole system with the help of @edicted.
After learning about the yields from the farms, like the one with the highest APR, I went in pretty hard in these early days to get the most of out it. Cub Defi will most likely become pretty popular, and I mean outside of Leo Finance and Hive.
When more people get in on the action the APR will get slashed up and earnings will be cut big time. Also the reduction in the inflation rate will hit the earnings hard too, so getting in early is optimal.
Yes, you read the title right, I dumped $30,000 USD into a Cub Defi farm. I sold me ETH to do so.
But wait, isn't that risky, you might ask? True, maybe things won't work out. Maybe ETH will go up faster than CUB will. Maybe I won't be able to buy back into ETH without taking a loss.
But maybe things will work out the way I see it too. Cub Defi will boom, CUB token will be on fire, and I will have multiplied my original $30k into who knows what. I expect CUB to go up faster in orders of magnitude than ETH will in a given timeframe, say 6 months to a year.
But hey, maybe I'm wrong, and I will get rekt. Tune in to find out later this year ;) LOL.
The whole thing was a bit complicated, but for anyone looking to do similar, here is a brief rundown.
1- You need to get your ETH (or other token), onto the BSC (Binance Side Chain - i.e. Binance fork of Ethereum). For ETH, you can just Deposit it to Binance, then Withdraw the ETH to the BSC address in MetaMask for example.
If you have another token, don't just transfer it to BSC, as you might null it. To find out if you can simply transfer your token to BSC, a good place to start is to look up if it exists on BSC here: https://bscscan.com/tokens
You might need to exchange your token for another like ETH, BTCB, BUSD, etc. before sending it to BSC.
2- Once your tokens are on BSC, you can access them on Cub Defi through MetaMask. Add the token smart contract in MetaMask to see it in your wallet. Depending on what you want to do, farm or den, you need to get the token required to stake.
3- Go to the Cub Defi exchange and trade your token for whatever you need. In my case I did a farm for CUB-BUSD. So I spent 50% of my ETH to buy CUB, and the other 50% 5o buy BUSD (you need equal USD value of both tokens for whatever farm you want). Then I went to the Liquidity page to buy some CUB-BUSD LP with my CUB and BUSD.
4- Stake you LP into a farm and reap the earnings.
That's it. You can read about how to connect MetaMask to BSC in the docs page and then pick up from there to get into a den or farm.
Of course, I'm no expert, make up your own mind on what you want to do. I'm just sharing what I did.
Have fun! May your future be fruitful with Cub Finance! Peace.
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That's how it's done, boys.
Give someone $200 worth of free CUB and they ape in for $30k, lol :D
LMAO! You got me, you social engineering manipulator! What a sucker I am :P
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OR a Salesman :D
That does a more flattering ring to it ;)
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Great job bringing in the Apes!
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that was your plan. Now things get clear :D
These DeFi groups are paying people to pump their startups, just sayin.
Holy shit, this is wild!
:)
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Nice going! And you get another $100 just for telling us.
Got to speculate to accumulate.
Funnily enough I took all my hive out 8 months ago and steem and put it into BTC. The gains have been impressive.
It is with if not my only gripe with the 3 months to get either out to speculate.
As we miss the booms, but it is what it is and all good fun along the way.
Glad I bought my first BTC in 2012 also :-)
Seems like a good move to sell the alts for BTC ;) worked out this year hehe. 2012, that's nice, hopefully you held onto it ;)
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Yes I keep it on a nano s ledger and some on coinbase. The latter gave me quite a few alts just for doing a quiz after watching videos. Easy money. :-)
I am not a scholar in crypto finance but I believe that you will recover and multiply your investment, cub is backed by a team that proved to be professionals in this field, it is just my opinion :)
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You have been awarded an honorary doctorate :)
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I am just sending BNB over .... this way I have enough for all the fees, and then I just convert some to Cub and I’m good for the BNB-Cub Farm ... reduces transactions and fees.
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The fees are pretty minimal (under 20 cents each time), but that's a top tier option for a farm :)
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I bumped in some myself. Sold my eth as I think it will lose a lot of ground to other chains this year. Its too expensive and unwieldy.
BSC should have a good couple of years ahead.
Nice, it's reassuring that someone else thinks the same, even if we're wrong, hopefully we aren't ;)
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I don't think that we are and that's why I am backing LEO and BNB to have a strong few years. I will keep compounding for the next 6 - 12 months before even thinking of moving anything.
Being in on day one is a one time chance to be part of something big and could explode with the next few projects on the platform. The leo team is the best that i have seen in three years as they have the business side to go wit the tech side which has been sorely missed on hive since day 1. Knowing how to grow and sell your project as well as brining in other chains and communities.
For me it's worth the risk and getting behind it.
Good luck! Hope it works out. My concern is the cub burn rate is not high enough and there will be to much pressure on the cub token price downwards.
Oh, so what's putting the downward pressure on CUB? The people selling it due to APR going down from inflation reduction? The price of CUB going down is good for the APR, so we get more earnings, then I have to hope the price goes up at some point for me to not lose ;) hehe
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I guess after all it is an unlimited supply token, so as far as i can see the only really thing keeping it from eventually going to zero is new money coming in and token burn. Because there is a 80%CUB /20% bLEO burn I am not sure the burn will be enough - I guess once token creation rate per block is at 1 and APR has halved again it will become more clear how sustainable it is.
The good thing is the TVL is low, and there's plenty of space for more funds to be staked. For me personally I would be concerned that any extra cub mining now will be outweighed by a drop in the token price. For this reason I withdrew my cubs and sold out at 5.70 per cub yesterday.
I really do hope it pays off for you, its a gutsy move and you may well be well rewarded well for it - Maybe I am to cautious! But I do try and look past the memes and constant pumping. And who knows.. Maybe this comment will be one that is looked at years down the line with everyone laughing how much I could have had had I not sold when I did lol..
I do want back in, but I am struggling to decide the right time.
hehe yeah, who knows, I'll find out though ;)
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We need an Ape Coin... .... Cubs, Apes 🦍 , Lions 🦁 .... this place is turning into a Zoo.
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LOL, well we need Bear and Bull if there is Ape, the Cub fits with the Lion theme ;)
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Wow awesome.
I wanted to keep my ETH & DO so I preferred locking them in DENS. The best thing is I hold my ETH/DOT and I'm earning cub as well. Win-Win Situation.
Safer bet, totally understandable, I was going to do that originally ;)
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i would have just staked the Ether in the den if it was me.
I was going to do that originally, as ETH is like #2 crypto in the world... but then I decided to go for bigger CUB gains in the farm and eventually buy back into ETH. We'll see how it works out for me... hehe.
its all good buddy hope it goes well.
30k danggggggg! Just some assets I have a very hard touching lol. CUB printer go brrrrrrrrr
The printer is slowing down by 33% tomorrow ;)
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For cubs but that should hopefully bring up the value per each moving forward. Will make for an interesting day tomorrow.
Cash money baby! Yeah boi well done and welcome to the fold. Hope you enjoy your time. It's a great community.
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Hehe thanks for the welcome ;)
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You are making a good investment, but in each investment there is a risk that you could lose 10% or half, but you can win and I hope you triple the profit. A !BEER for this investment.
Thanks, always a risk, but always a reward on the other side of that coin too, which way it falls... time will tell ;)
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Good luck! Sounds a bit too complicated for me. Upvoted and resteemed
It is pretty damn complicated indeed. I understand it better now so I took a moderately informed risk ;)
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A decent entry before the amas, audits and bridge launch
Yeah, hopefully that will be a boom and send things rocketing ;) It seems like cub has a very bright future though, just gotta be patient.
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This is the new way to attack CUB Finance.
Just drop it in there.
Everyone heard so they need to act before the APR drops.
!BEER
Buying CUB is the new way to attack CUB?
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The more the merrier. The 30K dump will pump in no time. I am sure the team is already figuring out the way to separate themselves from the BSC defi PCS clones. Looking forward.
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Hmmm, not sure we understand each other ;) I didn't do a $30k dump of CUB, it was me dumping $30k into Cub Defi ($15k into CUB and $15k into BUSD). Unless there was a $30k dump from elsewhere that is coincidently the same amount that I put into Cub defi ;)
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I was trying to be cheeky with my word rhyme but it was not clear, I guess :P We are saying the same thing.
I meant to say that $30K dump(actually pump)will pump the $cub price higher and will bring it a lot more people in the platform. Glad you joined.
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💎💎💎💎💎💎💎💎💎💎💎💎💎💎💎💎💎💎💎💎💎💎
Sounds exciting.
CUB will definitely blossom and it's wise being early farmers and stakers.
Too bad, I don't have funds at the moment to invest in it.
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View or trade
BEER.Hey @krnel, here is a little bit of
BEERfrom @pouchon for you. Enjoy it!Learn how to earn FREE BEER each day by staking your
BEER.thank you for sharing, have a great week
View or trade
BEER.Hey @krnel, here is a little bit of
BEERfrom @tcpaikano for you. Enjoy it!Learn how to earn FREE BEER each day by staking your
BEER.I jumped in guns blazing too. Go CUB.
Ha, nice! Roar.
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@bensworld we are not the only ones hahhaha
!BEER 🍻
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Ich gsehs... Ja huere geil...@leofinance isch so geil !!!
Hahaja. Ja volll 🍀
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View or trade
BEER.Hey @krnel, here is a little bit of
BEERfrom @sandymeyer for you. Enjoy it!Learn how to earn FREE BEER each day by staking your
BEER.This is the first time I am investing right after claiming the airdrop. I got around 1 Cub free and staked around $300.
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I guess that will be a pretty fun race for you! 😆
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Lol no wonder the APRs came down quite a bit... I dumped all my eth for cub too. Eth fees are way too high for me to use it anyway.
Haha nice! Hopefully it pays off for us :P
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A risky step, but I think you did everything right ... Although, only this time will tell ...
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Luar biasa