Binance introduced launchpads for different token farmings and currently ATA (automata) farming is going on in binance launchpad.
In a launchpad you have to stake the requested Crypto in order to farm the tokens for which the farming is going on.
Currently you can farm ATA tokens for staking either polkadot , BNB or BUSD.
So I took part in farming any Crypto token for the first time in my life. I didn't have polkadot or Bnb , neither i had busd.
but i decided to buy some busd as that is stable and i won't be worried about it coming down during the time i farm tokens.
I didn't staked much , i staked $200 with BUSD and that's actually 200 Busd approx.
I have been farming them for around one week now and i have farmed only 0.1 ATA and that's quite less.
so in order to earn good you have to stake a nice amount as well.
so here is the thing , should you stake your existing tokens to farm these ata tokens ?
my conclusion
As i told you that there are three currencies available to stake.
And you will see in above screenshot that depending on which currency you stake your percentages of profit varies.
If you stake :
better go on with the stable coin.
if you stake any of the two other coin then keep monitoring their price so that in case you feel like market is coming down this can unstake and sell them.
if you are not active on trading and have some stable busd or usdt then you can stake your busd or usdt after converting them to busd.
That's all from my side for this post , thank you for reading here.