Dear Leonians and Cubbers,
I noticed that the fees - even on the Binance smart chain - are adding up quite a lot for "small scale" traders (which most users are in fact), while the APRs went down compared to the initial first two wild weeks after launch of Cubdefi.
Currently one times harvesting is about 0,25$ (0,00059 times 416$) thanks to Binance coins popping up in price, pretty much regardless of the amount of Cubs to be harvested, right?
So let´s assume you want to harvest 5 CUBs in order to put them into the CUB den, then you have 2 times a fee of 0,25$. If you have spread out your assets into different farms&dens, you need to harvest even more often. So let´s further assume you need to harvest 2 different pools, then your total fees to get some new CUBBIES added to the CUB den are 0,75$. It is as if there would be a deposit fee in this case of 4,3% (0,75$ of 5 CUB worth 3,5$ each) on your investment!
Question is how long it takes you, until you have earned back the fees?
With the current APR in the CUB den (0,46% per day) and a CUB price of 3,5$ you will earn app. 8c a day from the additional 5 CUB, so it will take >9 (0,75$/0,08$) days until you earned back those fees!
This in turn means that unless you accumulate >40CUB per day (with 2 pools or dens only) it would be a net loss if you harvest daily!
Of course things are different if you sell part of your CUBs for BNB or BUSD for going to the more lucrative farms. But first of all you could be victim of impairment loss, so there is more risk with the farms, and then of course the exchanging, pooling and staking requires much more fees. All this needs to be weighed against the increased APR ("only" up to 3fold vs. the dens). I didn´t do the math yet, but my gut feeling tells me that for small sums (less than 50 CUBs) it is not worthwhile to enter the farms, unless you are 100% sure to keep farming for the rest of the year. If you plan to pull out the money near term, I would be cautious. Of course no advice whatsoever.
Just wanted to point this out to folks, as this might get a bit lost among the overall hype!
I hope I had no a miscalculation or flaw in thinking. If so, please let me know.
See you around and keep Cubbing!