I am trying to reinvest my LP farming daily payout into other assets to see if I can multiply my earnings or improve the return rate I am already getting. Pretty much I am being a pig and know that I have an income I want more; that will be the short and simple explanation, but if you are interested in learning what I will be doing with my own money, please, by all means, continue reading5.
My LP farming is paying me a daily payout of around $30 to $50 at current Mist prices, and I decided to cash out 10% of the initial investment value, which was $700. Now I have some impermanent losses, and I will have them as long as the price goes up or down, I will incur in IL. I started with 6.04 BCH and 360,000 MIST, so my farm is losing some Mist and has gained some BCH. If we discount what I already cash out and what I hold on xMist, I should be even, at least on unrealized gains. I will drop a screenshot of my farm to judge for yourself if I have some impermanent losses or not.
Now I am getting around 2000 to 3000 Mist every day, and I am looking for a way to invest that money to multiply my capital.
I was looking into other projects like Tango, Eben, Law, and many others, but I decided against buying them because I wouldn't say I like our projects. By to way, I am using marketcap.cash to check for tokens and their prices. From time to time, I also look into chartpro.benswap.cash as well. I should mention that I don't like to participate in presales either, and tokens that do presale I never buy even after the presale event or if a price drops below the presale price tag. Presales are just not my thing.
Since I can't decide on any SmartBCH project because I don't see any token that attracts my attention, I will create another farm this time with the FlexUSD and Mist pairs.
I will use the funds I collect from noise and read cash to sell them for FlexUSD and take a small amount from my daily payout on MIst to complete the other half of my farm. I won't be staking my daily payout anymore; I will be putting the same amount of money I get from tips into a farm. I will accomplish this by slowly building up a farm from my prizes and payout, and I will have plenty of Mist because I won't use all of my funds. I can only get up to $10 a day from noise and read, so that means my farm interest is enough to provide the other half.
I am a terrible saver, and it is tough for me to save money, so this way, I will accumulate some cash that I can use later to buy something else if the opportunity presents itself; otherwise, I will be saving the effort that I put on writing and gaining some extra rewards from it as well. Pretty much, I will convert the BCH I get into FlexUSD, and I will provide the other half from my farming rewards.
This will be saving on top of savings because I am also collecting some Mist to upset the IL at some point and get even so that my LP farming makes sense and pays for itself.
