So Bullish With AxieBCH And GAME That I Participated In LP Again

Participating in Liquidity Pool is one of the few things I tried to avoid. Even though you can earn a certain token by just adding 2 assets to the pool, I still don't find it appealing, especially after I lost a few CATS on my first LP experience way back in August of last year. After that, I just told myself not to try it again... ever!

I guess promises are made to be broken because, after 5 months since the first LP that I had, I decided to do it again. Not just 1, but I did 2 this time.

You all know that I am so bullish with AxieBCH and GAME, right? Oh! I'm not bullish just because I am one of their scholars but because I am so impressed with their transparency and how they are as a guild. I don't want to sound biased here but AxieBCH and GAME are two of my super favorites. This is why I participated in LP again to support these two and at the same time, to harvest MIST.

AxieBCH - WBCH

December 3, 2021, Gramps sent me a 2100 AxieBCH and 0.017 BCH as part of the Liquidity Education Program, which they started a couple of months back. I immediately added it to the pool, hoping to harvest MIST in a few weeks.

After 5 weeks of that initial fund provided by Gramps, I decided to add more. This time, I added 10,000 AxieBCH and 0.247164 BCH to the pool on the 11th of January. The moment I added my second transaction, my then earnings of 233.8 MIST were automatically harvested and sent to my Metamask wallet.

I was impressed to see that by just letting my AxieBCH and WBCH stay on the pool, I have already accumulated 233.8 MIST. Now, after 18 days since I added my second transaction, I already have 1317 MIST.

WBCH - GAME

I was skeptical at first to join WBCH - GAME because, unlike AxieBCH, GAME will have a 5% tax on every transaction. But when Gramps mentioned that GAME will get 4x more allocation at MistSwap, I suddenly changed my mind.

On the 19th of January, I added 10,000 GAME and 0.184545 BCH. As I've said, GAME will have 5% tax, so my 10,000 GAME became less. I didn't mind, though, because I trust GAME, and I know that one day, it will give me more in return. So after 10 days of farming my WBCH - GAME, I already have 888.1 MIST at the moment.

Total MIST accumulated

Overall, I have 2,205.1 MIST from just doing LP, which is good than just holding them. Since I do for the long term, I won't touch my LP just yet. My plan is to keep them until both prices are stable to avoid impermanent loss.

Closing thoughts

I know doing LP is quite risky, but it's the risk I'm willing to take. As I've said earlier, I'm so bullish with these two tokens that I know that everything will be stable again in the future.

So far, both GAME and AxieBCH are stable, except for BCH. So once BCH will have its price up, I can easily unstake them whenever I want; however, I am going for a long-term so I might just hold on for at least 6 months or so.

Meanwhile, all harvested MIST will be staked so I could also earn xMIST. When the right price comes, I will sell my MIST and reinvest in something else. I told you, 2022 will be more on spending and investing for me.

Entry #21: January 31, 2022