CUB Finally got me into DEFI - Learning as I go

avatar


tenor.gif

I came in kicking and screaming.

I have been avoiding DEFI from the beginning. I still don't have a good understanding of exactly how or why these liquidity pools can provide returns this high. It all seems too good to be true, which is why I usually avoid them.

After reading some comments about impairment costs that some users expereinced with liquidity pools, I became even more shy about putting any money in.

Then came the CUB airdrop.

In the weeks prior to the airdrop - I read enough posts to determine I was going to powerup all 680+ LEO tokens I had. I admit its isn't much, but after taking about a year off blogging, I was happy to have even that small amount. LEO was pretty new when I left, and I didn't spend the time blogging overthere. In hindsight I wish I had, my LEO and CUB would be much bigger.

My 680ish LP gave me 3.3 CUB on the airdrop. My initial thoughts were to sell them on Hive-Engine and just buy more LEO. They were listed anywhere between $3-$8 depending on when I looked, but I procrastinated long enough the price fell and I thought why not try DEFI with the free airdrop. It was really risk free, and good chance to learn more about it.

Meta Mask - and the LEO Discord Group and Community

This is the first I have had to use Meta Mask, I have avoided ETH for years because of the crazy fee's. I didn't play any games, or other projects that required me to pay gas fee's. Its crazy to think I never used ETH outside an exchange or a Ledger, but now was the time.

I will say the group running LEO/CUB Finance had some really great documentation, simply enough for even me to follow and get it all installed and pointed to binance. After getting it all setup, I needed that pesky BNB? to cover the GAS. Due to location - I had some issues finding a way to get it. Thanks to an awesome human @crystalhuman, who get me through the last bit of getting enough BNB to stake my CUB.

Farm Or Den - Higher Risk or Lower Return

All of the the returns looks crazy honestly. I know they are paying back in the coin I am staking, but still, 1100% for the CUB DEN seemed insane to me. Considering how little I know about all of this, and having no idea who to protect against impairment losses, I decided to go with a DEN, not to mention I only needed the CUB I was airdropped.

I decided to stake my CUB in the 10x DEN

Screenshot 2021-03-13 at 8.10.03 AM.png

This seemed to me to be the simplest option and the least risk of mistakes on my end. It has been about 24 hours - and I have already manged to earn .106 CUB. That is pretty sweet honestly, I am waiting for it to grow more prior to claiming. I don't want to have to pay the GAS fee over and over again when I have such a small stake.

I plan on leaving this sit right here, even as the APR drops and drops. I will wait and see what the LEO team has planned and where this project goes. I plan to HODL until this becomes my reality.


KhZT.gif

Honestly, I seeing what they have done with onboarding, the interface, CUB and projectblank, I think I might have to start blogging more and using the platform again. We will see if I have much to write about

~~ Senstless

2bP4pJr4wVimqCWjYimXJe2cnCgnCtt1NbZjyeSMGoG.jpeg



0
0
0.000
0 comments