Today was a great opportunity day for us to use Cub Finance without any fees. Many people have staked their tokens in the Den and have also been a liquidity provider. If the tokens are other than CUB there was a fee involved. Leofinance announced yesterday that we can invest without any fees as a limited opportunity.
I was in the dilemma of whether to make use of this opportunity or not. Then I decided that I will move my idle DOT tokens from my exchanges and wallet to Den for a passive income. Anyways keeping it in the exchange wallet is not going to yield anything to me. It is better to move it out from there and stake it.
Here comes the main part. It was hard to move the funds from Bittrex to BSC. Withdrawal of DOT tokens is disabled on Bittrex. I had to convert it to USDT and then purchase a cheap coin there and move it to Binance and then from Binance purchase DOT back and move it BSC. Last time I did a similar thing while moving funds from Houbi to BSC. But that was USDT and I actually converted it to Tron and then moved it to BSC. I lost around 15$ in transition. I'm glad that today I lost only 8$ in transition.
When it comes to moving funds from one exchange to another I guess Hive is the best deal. When we move funds we have to deal with 3 fees. Trading fees, Exchange withdrawal fees, and gas fees. The first two fees here are also okay but the third one is so lame. For moving 100$ worth tokens, if it is ETH, sometimes we have to pay 25$ for just gas fees. This is lame. Here is where Hive is best. We don't have a transaction fee and even when we withdraw from the exchange, the charges are more like 0.01 Hive in Bittrex. This is really great.
So coming to the point, I have moved my DOT tokens to BSC and have staked them in the Den to yield me a little passive income every day. I anyway want to hold them for the long term and if I hold them on exchange wallets it is not going to give me anything. Here at least on Den, I get over 100% APR for now. I still have some more DOT tokens locked inside the wallet. I bonded them on the wallet for staking rewards but the rewarding model for staking on Polkadot is like shit. I have initiated unbonding (unstaking) and looks like it will take 28 days for me to get the funds back. That is also lame again.
Now that we have done all these things, we should all wish the CUB token value stays stable or at least pumps. If it goes down, I guess it is not going to be worth it. But like everyone else I'm also bullish about CUB tokens. Let's see.
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