Hey All,
I obtained the above image directly from the Firebird Finance Platform, where it asserts that "Firebird is better than DEX." However, I hold a differing opinion because a decentralized exchange (DEX) represents a peer-to-peer marketplace enabling users to trade cryptocurrencies in a non-custodial fashion. DEX is widely favored by the crypto community for activities such as swapping, saving, and earning in various crypto coins and tokens. Anyways lets dive into my investment in the Firebird Finance DeFi token $FBA, as well as its associated governance token $FBADAO. The Firebird protocol is intentionally crafted to uphold principles of democracy and transparency, striving to establish a fully decentralized system. Here is my #FBA staked and earning me FBDAO tokens in real time..
Currently, I have staked 750 $FBA tokens on the platform, yielding $FBADAO tokens at an Annual Percentage Rate (APR) exceeding 100%, it keeps fluctuating earlier I saw it dropped to 65% and now have picked up again. The total staked $FBA tokens amount to approximately 1.6+ million, valued at around $415K+.. In terms of $FBADAO tokens in circulation, the current total is 150+ tokens and the present valuation of one $FBADAO token stands at an estimated $1,140.2 per FBDAO.
Finally there is an end to the redemption of #FBDAO tokens for #USDC one can now only stake them to earn rewards. And when you stake #FBADAO tokens you get $USDC as staking rewards. Stake #FBA to get #FBADAO and further stake FBDAO tokens to get #USDC. When you claim rewards the lock timer for unstaking will be reset, and your stake amount will be locked for an epoch (7 days).Here are the details on the total number of #FBDAO tokens staked and the total reward money in the pool for the upcoming epoch
Total Epoch elapsed is 28; which means 28 times the rewards have been giving out based on your #FBADAO stake. The next ephoc rewards is in another 4 days and the rewards money to be distributed is around $900 dollars. And the withdrawal lockup epoch is 1 epoch time frame which is 7 days. Right now I have no plans to exit from this DeFi platform and will continue to stake my earnings to grow my #FBADAO stake. As you can see from the above image I have close to 0.06+ FBDAO tokens staked and I am looking at least half a FBDAO token which will be equivalent to $600+ and the #USDC that I am getting is another passive income stream. Earlier I did swap #FBDAO for USDC but now with the redemption end the plan is to BUILD and HODL the token and the question is how fast can I accomplish my GOAL for having 0.5+ $FBADAO token in my kitty... having investing cheers
Did you know about $FBA? If Yes, did you stake your $FBA to earn the governance token FBDAO. How is your overall experience with Firebird Dex Aggregator? Let me know your views in the comment box below?...cheers
#fba #firebird #firebirdfinance #dao #staking #dex #aggregator #fbadao
Stake #FBADAO to earn $USDC
Image Credits:: firebird.finance, medium, leofinance,
Best Regards
PS:- None of the above is a FINANCIAL Advice. Please DYOR; Do your own research. I've an interest in Blockchain & Cryptos and have been investing in many emerging projects...
