Ok, double episode, 3 and 4 of the Bitcoin Hodl Challenge!
What a restless arse I am, in my previous posts, I have moved the BTC from one place to another. I went through Binance, no farming effect, sitting still in the wallet, "maximalist" mode.
Tried Venus, unfortunate experience regarding the outcome. I knew the risk and misplayed my position.
And now we are in the new "Autofarm".
What is Autofarm?
Warning: This description is based on the point of view of a novice who does not yet fully understand how DEFI and Compound work. Words described by the author with misunderstandings.
You can imagine that Autofarm is one of those platforms that work in a similar way to Beefy, Pancake, Uniswap, Shushiswap, and those that rhyme with "swag", the same swag with the rhythm that I dance to when I see the dollars doubling.
Autofarm works like the above. It charges less in fees and is better optimized. It performs the activity of "auto-compounding". It returns the result of the pool in the form of an "auto", the "autofarm" token showing the farmed result in dollars.
The most spectacular part of the result is not the amount I have farmed. It is how little by little the value of btc increases in my wallet.
My profits
Deposit 02/02: 0,00683 btc
Deposit 18/02: 0,00340 btc
Profit in the interval: 0,00023
Without realizing it, I have accumulated almost 1000 $. A couple of months ago it seemed complicated to me to accumulate. At this point, I am proud that I started this challenge and that it works without having to worry about it.
Thanks for reading me! ;)