How I Lost ~$2,000 On CUB

In investing, or even in life in general, we always experience gaining some and losing some as well, because that is what makes life interesting. Sometimes, we lose something good in order for us to gain something better. Likewise, in investing, we would gain a remarkable amount of profit, but we would also lose some of those considerable amounts of gains in order to gain even something better. Sometimes, those gains are in the form of the lessons we learned from experiencing such a huge loss for us.

I have been actively investing in cryptocurrency for almost 2 years now since I got to learn about this blogging platform. I did not just invest my money in crypto, but I also invested my time, effort, and dedication to making my crypto portfolio grow. Luckily, I was able to make a huge profit from Vitae Token that I invested in before when I was still not writing articles, which became my initial capital to really grow my portfolio.

And from just trying my luck being a frustrated crypto trader on Binance, I learned to step my foot into the world of Staking and Farming crypto coins and tokens to earn passive income thanks to the other users here who have inspired and motivated me to do the same.

Just like what I documented in my Crypto Farming and Staking: Pancakeswap, Julswap, Beefy Finance, and CUB Finance article, I started trying farming on Pancakeswap by providing Liquidity on some of the available pools or farms through some of my crypto holdings. Then I also learned to stake the CAKE tokens that I invested in to grow my holdings as well. And from Pancakeswap, I also jumped into Beefy Finance where I staked some of my tokens and also farmed my Liquidity Pool tokens on their farms. Then I learned about Julswap, which made me invest in another remarkable amount of capital but I have long forgotten about it already. Then the new DApp CUB Finance was launched and I immediately jumped into it, and the next thing that happened to my investment in this Decentralized App made me write this article.

At first, I only staked my CAKE tokens on Cub Finance to gain passive income from the Cake earnings that I earned from farming on Pancakeswap. Then after a while, I decided to stake some of my CAKE, DOT, ETH, and USDT tokens on the CUB Finance Dens to take advantage of my idle coins while waiting for my desired price for them before I sell them. Meanwhile, on the farms, I added liquidity to the pools and farmed my CUB-BUSD, CUB-BNB, and USDT-BUSD LP Tokens to earn more CUB Tokens. I have shared this in Building Passive Income On CUB Finance: Farms and Dens.

When the Den for USDT ended, I made a reckless decision of just converting them into CUB tokens together with my DOT and ETH holdings that I pulled out after when the price of CUB was around $3 each, because the CUB Dens offered a promising and higher APY as I thought I'll earn better on that pool than if I just let my tokens sit there.

And when the market dumped at that time and the price of CUB started to plunge, I decided to remove my USDT-BUSD LP Tokens and used the fund to buy more CUB Tokens. I also removed my CUB-BNB LP tokens on the pool to save my BNB and it made me acquire impermanent loss on BNB and I just considered it as if I used that to invest more on CUB token. Then, I also removed the remaining CUB-BUSD LP tokens to convert the BUSD into more CUB. After the upgrade, I just let all of my CUB in the Kingdom to earn more CUB Tokens.

However, doing all of those investing activities where I converted almost all of my other tokens in exchange for CUB Tokens just to take advantage of the high APY of Cub, I got to invest around $2,000 in total, and now, looking at my portfolio and the value of my CUB holdings now, of course, I'm somehow regretful of my stupid actions for my investments.

From investing $2,000 for CUB, it's only now worth less than $50 even if it keeps accumulating more CUB tokens while being staked on the Kingdom. This is the biggest loser in my investments and I am no longer hoping that the price will bounce back up for me to recoup my initial investment in it.

However, just like what I have mentioned above, when we gain some, we also lose some, but we don't actually lose at all. Instead, we also gain valuable lessons, which we can use when making sound decisions in the future, especially when it comes to investing in crypto.

Perhaps, the main lessons I have learned in this is to not buy DEX Tokens when you can just earn them by farming your existing tokens, and not to sell your precious coins like ETH for a new token.

Well, this is an expensive experience for me, and I will make sure to apply the lessons I have learned from it.

When investing, always invest what you can afford to lose!