May 2, 2021
To get more profit from DeFi Yield Farming, I have decided to transfer my BUSD from Binance to Trustwallet. The reason why I bought some BUSD is to add them on PancakeSwap Liquidity Pool, however, upon checking the platform yesterday, the LP for CAKE/BUSD has already ended. So I've looked for other options where I can stake my BUSD.
The first option that comes to my mind was Cubfinance. I have checked the Farm of CubFinance and saw LP pair CUB/BUSD with 294% APR. Since the APR was higher compared to staking CUB on the Dens, I have unstaked my CUBS from Dens and supply CUB/BUSD pair to the Liquidity Pool.
I got 60.9591 LP tokens from the 38+ CUBs and 101+ BUSD I had added to the Liquidity Pool. Then I staked all the LP tokens to the BUSD/CUB pool.
After more than 5 hours of staking, it already generated a profit of 0.158 CUB and the APR goes down to 293.80%.
Since I still have the remaining 90+ BUSD, I went to JulSwap and check if I can stake my BUSD there. I remember @Kryptlook advertised the JulD token and it seems to be a good one to HODL, so I swapped the $40 BUSD to JulD which is equivalent to 266.146 JulD.
Then I go to the menu and click "Pair" then choose JulD/BUSD with $1.3M Liquidity Volume.
I then supply JulD/BUSD to the Liquidity Pool and got 79.8398 LP tokens from them.
Then go back to "Staking," and choose JulD/BUSD pool and stake all the LP tokens with 140.58% APR.
After more than 5 hours of staking, it already generated a profit of 0.500805 JulD. From 140.58% APR it became 141.10%.
The last thing I did was to go back to PancakeSwap. I saw their new feature which is Automatic CAKE Staking with an APR of 148.59% higher than manual staking with only 91.01% APR. So I staked all my CAKE from the Manual CAKE Pool and add them all to the Auto CAKE Pool.
I was quite disappointed with the fee because it's quite big for me and it cost $1.06.
The CAKE will automatically be staked after 2 days and 23 hours. So after that, I need to pay again for the fee. I wasn't actually sure if I was doing right, but I will gonna observe it for now. If this will compromise my profit, then I will put my CAKE back to the Manual Pool.
Guess what?
The total BNB I have used in doing all of these was $7+ 😤. From approving the contract, staking, unstaking, harvesting, adding LP pair, supplying to the pool, swapping, confirming, etc. So if you are planning to supply assets to DeFi platforms, you should have some BNB in your Trustwallet.
Why I choose a pair with BUSD?
BUSD is a stablecoin, so no matter what happens to the market, whether it goes up and down, there will be lesser impermanent losses.
Why I chose CubFinance and PancakeSwap?
These two platforms are two of the best and trusted DeFi platforms under Binance Smart Chain. The PancakeSwap price is also increasing from $20+ last month, it almost reaches $50+ at the end of April. And since PancakeSwap is the top BSC-DeFi platform, its price will continue to go higher in the future so it's better to hold CAKE as many as possible while it is still affordable.
CubFinance is still in the infant stage but the platform already has an $18.5M Total Value Locked, with a MarketCap of $5.8M and a circulating supply of the only 2.2M. Since it is an extension project of LeoFinance and built under Binance Smart Chain, with only low Max Supply, it is also a good coin to hold as the price will pump faster.
Why JulSwap and JulD?
JulSwap is quite a new DeFi platform under Binance Smart Chain which was launched last December 2020. It is equivalent to UniSwap but it has lower fees and its goal is to lower the barrier to entry in DeFi. The JulD price on its inception was only $0.001627 and it reached $0.742 ATH last February 22, and tradable at the time of writing at $0.1516. Just like CubFinance, JulSwap also has a low supply of 800M with a MarketCap of $57M. If the platform will continue to onboard more users, the price will surge higher. And just like what @Kryptlook have said, JulD has potential like CAKE, BAKE, and other BSC tokens. The price is very low and still affordable to buy.
And just like what I have promised before, I will not unstake my assets on these platforms, so I can monitor my profit for the whole month.
So my assets on DeFi platforms are:
CubFinance: 38.7+ CUB and 101+ BUSD with 60.9 LP tokens and 294% APR
PancakeSwap: 11.886 CAKE with 148.59% APR
JulSwap: 265.863 JulD and 40 BUSD with 79.8398 LP tokens and 240.58% APR
Let's see much this will grow a month after.
That's all folks. Thanks for reading!
the staking returns aren't as high as i thought on trustwallet and I'm still bothered by why each transaction costs so high XD it's not amusing