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How to increase your profits 3-fold with Auto-Compounding
While browsing through the new projects I noticed the DeFi autofarm project, which brings together many DeFi projects in one place. This gives us access to see the best possible solutions for our tokens. Today I will show you how in a few moments I will earn 3 times more thanks to a mechanism called Auto-Compounding.
On PancakeSwap I had a BUSD-FOR Liquidity Pool added. The current APR is 188%. I invested some leftover dollars that I had left in my wallet. So far I have earned 0.382 CAKE or just over $10 on it. I know it's not much but I wasn't expecting big profits.
When I entered the autofarm I saw that there is my pot that reinvests itself. In this way I am able to receive 563% of the return earned through APY. During the year my pot will be reinvested 1201 times which is a little over 3 times a day.
The only thing to do is to remove the liquidity on PancakeSwap and add it on autofarm. By removing liquidity we automatically receive the earned tokens, in this case CAKE. We immediately see the available balance on the autofarm page. We click deposit and approve the transaction.
I will use the CAKE I earned to buy some more BUSD and FOR to have more BUSD-FOR LP tokens. It came out to almost 100 LP tokens. We make a deposit.
This is what my deposit statistics look like. It looks very nice.
As you can see in a very simple way you can increase your earnings by changing DeFi investment in APR form to investment in APY form. Just look for good projects that will allow you to do this.