CUBFinance is a good week young #defi toy that is rapidly growing day by day.
After the CUB drop, many of us first tried out the dens because it was the easier way.
A coin, a stake, that's it.
Then we tried LP too aka the farms.
Farms are more profitable, at least for the $CUB $BUSD pair they are.
Look at this situation.
A week ago I staked airdropped $CUB, all 4.735 of it. At this moment it brought 0.832 $CUB which is almost 3 USD. Nice. 17 % in a week!
Then, almost 5 days ago I tried the $CUB $BUSD farm. 5.786 LP brought me 1.1218 $CUB so far.
Let's if I can calculate the outcome.
I bought the tokens with 0.1 $BNB which is now worth $26.22. There were some fees, of course. In fact, many of them. They all amounted to $1.32 if I counted them correctly. So, a total of $27.54 invested.
The gain is 1.22 $CUB which is $4.35 which is 15.8 % in five days!
Ps: I would be grateful if anybody would care to check the math.
Let's play some more, withdraw $CUB from the den, convert half of it to $BUSD, and increase my stake in the farm. More fees incoming :)
1. harvest
Got 0.831 $CUB, paid 0.00122588 BNB ($0.32).
2. unstake
Got 4.735 $CUB, paid 0.00093334 BNB ($0.24).
3. buy $BUSD with half of $CUB that I have
Got 9.957 $BUSD, paid 0.00111528 BNB ($0.29).
4. get CUB-BUSD LP
Got 5.175 LP, paid 0.00172404 BNB ($0.45).
5. add to the CUB-BUSD LP pool
paid 0.00133543 BNB ($0.35).
The end result
10.962 LP staked. Check: 5.786 + 5.175 = 10,961. Good enough.
The byproduct was that the accrued 1.2 $CUB was harvested during the added stake.
@leofinance, Is this by design?
I expected it to stay on the farm. OK, it's good so. I forgot to take it out and make it contribute to the pool in any way.
The sum of fees paid is $1.35. Five transactions!
Enough of #defi play for tonight :)
Better and better