Almost a month ago, on February 10, 2021, to be exact, I published an article about "My Pancakeswap Journey: Flipping TWT, EGLD, REEF, and BNB". This is a result of my Fear Of Missing Out because some of the people I am subscribed to on this platform are doing it. Just like the curious cat that I am, I can't help but do the things they are doing and experience it first-hand. πΉ
So in this article, I'm going to share my Crypto Farming and Staking experience on Pancakeswap, Julswap, Beefy Finance, and Cub Finance. But please bear with me as I am not good at this. πΉ
1. Farming on PancakeSwap
As I have mentioned in My Pancakeswap Journey article, I added EGLD, TWT, and REEF on the liquidity pool, which cost me about $480 for the 4 BNB, 99.50 TWT (free from Binance airdrop), 1.29185 EGLD, and 3,629.25 REEF that are used for these pairs,Β for this Pancakeswap experiment.
For these 3 pairs, I was able to earn 10.212 CAKE, which amounts to a total of $127.65 for the price of $12.50 per Cake. Not bad, I guess. πΉ
After doing some research, I learned that there is a risk or Impermanent Loss in providing liquidity to the Liquidity Pool.
"Impermanent loss happens when you provide liquidity to a liquidity pool, and the price of your deposited assets changes compared to when you deposited them. The bigger this change is, the more you are exposed to impermanent loss. In this case, the loss means less dollar value at the time of withdrawal than at the time of deposit." -Binance Academy
2. Staking on PancakeSwap
After buying 13 pieces of Cake for the price of $7 each, which totals $91, I withdrew the token and sent it to my Trust Wallet, and added it to the Cake Pool to try staking too. πΉ
After almost a month, I was able to earn 1.166 Cake or $14.57. Again, not bad. πΉ
3. Staking on Beefy Finance
After being an impulsive buyer of Bake, I decided to withdraw the Token from my Binance account and sent it on my Trust Wallet to farm it on Beefy Finance.
I deposited 103 BAKE and now I have 105 pieces of it. πΉ The reward is very small because of the low APY. πΌ
I am planning to deposit BUSD to try this pair to take advantage of the higher APY, but I will do it when I find the time. (Maybe after my grandfather's burial.)
4. Staking on Julswap
After reading some news about JulD, I immediately converted some of my BNB into JulD at a very high price. Now, the value of it is so low. Lol πΉ This is why I decided to get it out of my sight and Staked it on Julswap. πΉ
From $57, it's down to $25. πΎ
5. Farming on Cub Finance
This is the newest as I just did it today after reading @PVMihalache and @bmjc98 conversation on our #Club1BCH group chat. Because I'm really curious, I also did it. I don't want to miss out on this one. πΉ
After harvesting all the CAKE I have earned from Farming and Staking on Pancakeswap, I immediately farmed my CAKE on Cub Finance.
There is a 4% deposit fee, which is quite expensive on my part. πΎ
From 11.38 CAKE, it's now 10.93. πΉ
That's all for this article. There's nothing much to learn in here. πΉ
If you plan to do farming and staking too, just do your own research. πΉ
PS. I did not sell any of my Bitcoin Cash earnings from read.cash and noise.cash for this. Also, don't question my loyalty to BCH, even though I'm questioning it already. πΉπΉ
Hi po.. Nakakarelate ako kung ano ano din tinatry ko pero parang mas lugi ako dahil puro fee kada galaw.. Haha i suggest try mo po magstake ng cake sa bunny.finance or beefy.finance auto compounding sya plus may bunny tokens ($127 as of this writing) na mafafarm along with your staked cake. Makamenos sa fee sa pagharvest