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
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.
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