I haven't been around the SmartBCH network for a while now because I was quite busy doing other things that I didn't find time or I was uninterested to check my MetaMask wallet. And now that I have time in my hand to monitor some of my SmartBCH tokens and the ones that are currently farming, I took the time to make a little activity on the chain.
BPAD was one of the first tokens that I bought on the SmartBCH network when I started my new trading and investment journey on this chain. I initially bought 0.1 BCH worth of BCHPad tokens before because I believed that this token is one of the best tokens available in SmartBCH. I wanted to make it a long-term investment so I didn't bother selling it after gaining a little profit from it. And after a month, the price of the token doubled and so is my investment. I still didn't take profit because I thought it would pump even more in the future.
However, after realizing that my BPAD tokens have been sitting around and just being lazy in my wallet for more than a month now, I decided to let it work for me to earn some passive income. So I sold more than 70 percent of the BPAD tokens I have in my wallet to get back my initial investment of 0.1 BCH and to have some wrapped Bitcoin Cash to be paired up with the remaining BPAD tokens.
And after selling the BPAD tokens, I immediately added the remaining 1,000 BPAD and 0.065 WBCH that I got from selling BPAD to the pool to have some LP tokens that I will stake on Mistswap to earn some Mist tokens. I know about the Impermanent Loss but I don't really mind about it because this is all just profits now. If BPAD pumps and BCH remains stable, then I will lose some of the BPAD tokens in the pool but just like what I have said, it's all just profits now.
And after scrolling through my farms, I noticed that the WOJAK-WBCH pool is no longer offering any APR as the pool already ended so I immediately unstaked the LP Tokens I have in the pool. And after unstaking them, I also removed the liquidity I added to burn the LP tokens.
When I added Liquidity to the pool, I put in a total of 264,000 WOJAK tokens and paired them up with 0.071 WBCH. But now that I removed the liquidity, I only received 0.043 BCH and 404,000 WOJAK tokens that are also worth around 0.043 BCH. The value of WOJAK tokens dropped that's why I gained more Wojak tokens. Meanwhile, I also earned 349 MIST tokens for farming the LP Tokens, which is worth 0.015 BCH now.
As of the moment, there are only 2 Pools where my tokens are farming, the DOGE-WBCH pool that gives 138% APR and the BPAD-WBCH pool that offers 148% APR.
I like providing liquidity and staking the LP tokens because it is how I get to earn passive income even if it's just a small amount of earnings. This is also honest work and it's how I get to make my profits work for me.
So cheers to farming and staking!
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1 month update of my SmartBCH Journey
Thanks to this one I finally understood the reason why I gained wojak after staking it.. That's a good move by the way at least you have passive income and your funds are not just sitting around the corner..Cheers to smartbch .