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Experiment: Binance Coin (BNB) working hard for 3 months

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Written by   1131
2 years ago

In September, I wrote about how to put Binance Coin (BNB) to work and I stated that is no better time to HODL Binance Coin.  The list of  instant benefits included interest from flexible savings, Swipe (SXP) airdrop, increase in value, and Wing + Bella (BEL) farming. The Launchpool system was updated since than and BNB holders farmed Flamingo (FLM), Venus (XSV) and ALPHA for 30 days. Binance Launchpool then introduced CertiK (CTK) farming, for BNB, BUSD and CertiK holders, but this campaign was shorter, only 16 days. 

Yesterday my experiment concluded, with the last Swipe Airdrop being distributed.  The data gathering started in August after the announcement of the 12 weeks of Swipe (SXP) distribution. I started by holding 2 BNB on the first week of the Swipe Airdrop campaign which I bought for $22.10 each. I bought 8 more during the September dip at $18.92 and another 2 more when the price was $28.45. I paid $252.46 for all of them which brings the average price per Binance Coin at $21.038 

Binance Savings Interest ($0.07)

I had 12 BNB in my Flexible Savings until the Launchpool was moved and BNB had to be staked. Over this period the interest was between 0.49% and 0.35% per year and generated $0.07 (0.00217 BNB), which is a bit of the joke. The interest rate was to low to really consider this as a gain. 

Binance Coin value ($87.26)

The total purchase value of 12 BNB was $252.46, $21.038 per unit. After 12 weeks, the Binance Coin is currenlty valued at $28.31 and the 12 BNB are summing up to 339.70. My basic maths skills are telling me that I've done $87.26 profit.

Swipe (SXP) Airdrop  ($0.80)

Over the 12 weeks of Airdrop, my fair share was $0. (0.92 SXP). I started with only 2 BNB for the first weeks and only for the last 4 or 5 weeks I got the full benefit of 12 BNB being considered for the reward.

Wing (WING) and Bella Protocol (BEL) - Old Launchpool ($7.17)

Before moving the a different tab, Launchpool was offering farming rewards for the BNB kept in the Flexible Savings Wallet, and generating both Bella and Wing was possible. The result was 8.5 BEL ($6.20) and 0.12 WING ($0.97)

Flamingo, Bella, Alpha, CertiK & HARD - New Launchpool ($29.08)

Binance changed the system and now users can stake and get reward only in one pool, not on all simultaneous. This change didn't made farming less efficient but the multitude of projects running in the same time. Flamingo (FLM), Venus (XVS) and Alpha runned all over October and I had to share my BNB between them. Combined bounty between the three projects was $25.94, from 7.516 Venus ($22.38), 9.17 Flamingo ($1.29) and 69 Alpha ($2.27)

CertiK (CTK) was the shortest Launchpool project, with 16 days for Binance Coin and Binance USD staking, and only 12 days for CertiK staking. The reward was better than usual as everything was added into CertiK pools and not spreaded into 3 separate ones as before (Alpha, Flamingo and Venus). The campaign ended on Sunday 8th of November and in this short period I farmed 2.39 CTK ($2.03)

The farming of Hard Protocol (HARD) for Binance Coin (BNB) and KAVA holders went live on the 3rd of November but I choose to keep 90% of the BNB into the CertiK pool. The rest of Binace Coin was added for farming on Sunday, after the CertiK pool was closed. Still managed to farm 1.185 HARD ($0.75)

How hard did my Binance Coin worked?

Most profit was made by the growth of BNB and the Launchpool farming, making 99.30% of the total.The other sources summed up only $0.87 . If the amount of new projects added into the Launchpool platform remains the same, holding BNB is probably one of the best sources of adding new tokens and extra value to the portfolio. Total profit $124.38 from a $252.46 investment , which is a 49.26% growth in just 12 weeks.

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Written by   1131
2 years ago
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