21-01-2022

I still remember that time when i was totally against farming or staking because i didn't have knew about it's potential and how it works for others but as soon as i realised it's worth giving it a try i just started with staking in pool to avoid loss and i knew that Apr is never same so it makes more sense to stake but was still confused if i should try farming or not

But I've seen lot's of peoples or whales who don't do buy and sell they just farm their pairs and make tons of money so i thought should give it a try at least once and i knew about impermanent losses but didn't knew how it exactly works and it's impact while farming.

As always i started farming with a complete solid plan which is too track my each and everything so while injecting liquidity into pair it was in record so today when i was checking my progress i was like just stop doing farming or end up losing everything.

First of all nowadays I'm little bit surprised seeing I'm doing good in here like before maybe because it's just a begining of new journey that's why I'm motivated and trying to keep myself busy into different things but once I'll start working on a job than it will be much difficult for me to do progress but still I'll give my best.

I'm Farming on different dex

I am farming on multiple dex exist on Smart BCH obviously but also I've some farms in Dex from more than 4months and believe me i forgot about those farms like in benswap there was a farm from where literally harvested 40Eben and when i removed liquidity from there i got my liquidity back without losing anything so at that time i was already farming on tropical and 1BCH dex so after seeing no loss from benswap farming decided to add some farms on mistswap as well

From beginning till now never farmed in mistswap don't know why but it's true but after getting positive results from benswap and or from tropical and 1BCH i literally changed my mind added liquidity and started farming in mistswap also later i changed my mind removed everything because I can't bear impermanent losses anymore.

Currently farming on these dex

• On tropical finance (3 farms)

• 1BCH dex (only 1farm)

• Mistswap (3farms)

These are the only dex where I'm farming and if i count all than 7 farms total in whole Smart BCH.

Farms in tropical finance is now too slow

I started Farming since tropical came out because of their juicy high Apr I can't stop myself seeing strong projects as well but now Apr is dropped but still better from many other dex

So only 3farms in tropical having Celery، daiquiri or Dao farm there but now these impermanent losses are worst thing ever happened

Let me explain why i stopped farming anymore because of impermanent losses a week or two back Daiquiri-Dao total staked was (22$) but now only 10$ left because of prices went down but also i lost some of Dao and Daiquiri that's how impermanent losses happen.

But still to be honest Daiquiri is way much better and secure than other Dex like mistswap IL was too much in just couple of days meanwhile I'm harvesting and making profits from Daiquiri.

The only reason why i didn't removed my liquidity from tropical finance is because it's way much stable because of it's Apr that's why still farming.

I removed my all farms from mistswap

Now the real fun begins when i started taking interest in mistswap farms, well there's no issue with there farms but choosing a wrong pair was absolute problem and I can't stop myself from farming seeing those high Apr farms.

My first farm on mistswap was WBCH+Wojack i choosed it because was holding wojack since a month but it was too down and i was in loss so i decided to farm it and recover some of loss but i only have few 4-5days left before new farms allocation.

So i minted 50Mist because of this pair and when i removed liquidity amount i got was 0.02BCH and 107662 wojack instead of 0.023BCH and 112900 wojack so i lost some of wojack and BCH while farming.

After new farm allocation mistswap added Sidx and Smartdoge farms so i went to buy Sidx got 12 for 0.052 something and started farming it.

But after two days when i noticed APR dropped too much and now it's useless to keep it in farm i decided to remove and instead of 12Sidx I've now 9.44Sidx but 0.06 BCH instead of 0.052BCH so this is what impermanent losses mean.

Same thing happend with my BCH/Sto pair i minted only 50mist losing 22Sto token so that's why i preferred to hold instead of farming just to avoid losing my investment in farms.

Farming on 1BCH dex as well since more than month and still I've not lost any amount coz it's kinda stable and currently I'm much satisfied with both 1BCH and tropical farms these dex are suitable for me and hope so I'll never regret farming on these dex.

Instead of farming i prefer staking

In the end i learned and got reason to focus on staking instead of farming i firstly thought these impermanent losses is just a thing to ignore but I was wrong

If you don't know any stable tokens which price doesn't fluctuate much than farming is risky but in staking at least there's no risk of losing any money.

That's why I'm staking my Eben on benswap, staking rBCH on 1BCH and celery on tropical and Daiquiri on beam and till now I'm compounding and reinvesting in pools.