Recently there was an announcement from Nexo that they have to limit withdrawals from Nexo for stablecoins due to the ridiculous high gas fee for the Ethereum network. Many have truly resorted into different chains and since Nexo is still absorbing transfer fee for ERC20, why not take this withdraw once a month limit until gas fee is lowered opportunity before they lock all things up and start charging their customers?
This is when I have decided to move my $50 USDT out while I leave the dividends in Nexo tokens still inside for the membership benefits of higher dividend % for the balance of BCH inside, and time to try out my friend's suggestion, transform the Ethereum stable coin into Binance Chain stable coin and pair with the newest hot cake DeFi Utility Token for a stable outcome.
He really deserved whatever tips I have left there for such a suggestion because even though USD is getting weaker in reality, its recognition is still out there enough to allow a stable minting of the $BANANA utility token.
Especially when they are willing to offer such a ridiculous high yield even though yes, this is a risky monkey business. But how risky it was, pancakeswap was once (and still remained) a risky business.
Nothing is truly risk free. Not even if you think hiding your gold and silver maybe burried somewhere is still risk free; right?
Based on today's date, as the market went down a bit again and still hasn't fully bounced back, I managed to place this amount of (impended loss) capital and record it as loss at the moment; because as long as your coin / token are locked up aside for yield, the risk is forever there and it should be treated as a loss.
So let's see how much data I can gather to create an average estimated calculation of harvest time and ROI (Return of Investment)
Will this be a success?
I personally do hope so, and I am not adding the walkthrough inside because it will be too long and should have its own post by itself.
Come follow my journey as I try to have an as detailed timestamp as possible until I can get the right data for an estimated yield, and this will be part of my logs to see if this is a profitable plan ahead to reach 0.1 BCH worth a month faster, or for anyone who likes and wants to follow.
Not a financial advice, just my own journey.
i'm looking forward to seeing how this turns out for you. Helyanwe is definitely worth tipping, very smart and so helpful!