DEN!
FOMO is real in Cub Finance. Tonight, I understood that I messed up the previous night. The fundamental concept of a liquidity pool is:
Stake Early; Stake Often!!
Meaning, when a new Liquidity Pool starts, the early investors get more rewards because they take the risk. But, better late than never (even if it is only 24 hours)! Getting in the second night is not the end of the world. So tonight, I thought I test out the Lions Den!
That is the space where you stake a variety of assets. You token remains yours, minus the 4% fee. After staking you earn CUB based on the amount of native token you staked. The concept and the interface is very simple if you are familiar with any of the previous LPs like Pancakeswap.
Currently they are:
- CUB
- BUSD
- WBNB
- USDT
- BTCB
- ETH
- DAI
- USDC
- DOT
- CAKE
As of the time of writing, the highest return is on CUB, but CUB is hard to come by for me. The next higest return is on DOT. I just realized that I had purchased some DOT on a Binance account a while back, and I haven't done anything with it. It is about 50 DOT. So I thought, yeah, I will pay the 4% fee and stake it. As soon as I stake it the return started, and after that it is just captivating! I gave in. I have staked all the BUSD, ETH, and DOT I had in various Binance accounts. It is not substantial amount, about $10K USD worth. I can't wait to see the results tomorrow! (I wrote this the previous night, and the next section the following morning)
Results!
So, after about 5 hours time, this is the status.
Current price of CUB is $7 (for now, it changes), so I have earned about $161 in about 5 hours. No, my fees are not out yet! If I have staked the previous night, it would have been better. But hopefully, I will have this staked for the long term, so these little price fluctuations will even out in near future. The most positive thing, from my point of view, is the fact that the pool is already nearing $8 Million.
End Note!
I like to mention and urge people to be patient. It is not about overnight riches. Although growth in crypto is exponential, but still you must exercise some degree of patience. Especially people with smaller wallets. Fees are still significant for you, so if you move funds too many times, fees will eat into your returns. Please consider holding your tokens for the long term. Leo is an excellent example of tight supply and a well run token economics. I have high hope for CUB. This could be the path to financial freedom for many people. Let us be respectful to the project and together we can reach higher highs.