Was Getting Involved In Cub DeFi A Step Too Far?

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There is a well known saying "Never Invest If You Don't Understand" but if I paid attention to that I would never have gotten involved in crypto. Although thinking about it that's actually not true. I never consciously decided to get involved in crypto. I got involved in blogging and the investment side just sort of caught up with me.

It's not been an easy journey but at least I can say I know a bit more now than I did in 2017 and overall I have made a profit. But on days like today I question whether the loss of peace of mind is worth it.

My plan for this morning was to harvest some CUB from the DEC/BUSB farm and compound my CUB that I put in the DEN. However, things didn't going to plan.

But let's back track a bit and see how I got into this pickle in the first place.

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When Cub was airdropped my intention was to sell, thinking that the whole DeFi thing was out of my league. But then I found out about the Den and @flauwy kindly stepped in to provide the BNB I needed to get into it so I decided to give it a go.

It took me more than 3 hours to get it sorted but I got there eventually and watching the earned CUB amount ticking up it felt worth the effort.

Four days later I had earned 0.523 CUB which I compounded. I did the same the following week with 0.57 CUB.

Then came the DEC/BUSD Farm Announcement.

I read a number of success posts written by people with little previous DeFi knowledge but thought I couldn't get in as I had no BUSD. Then, eventually I twigged that some people were getting in by swapping some of their DEC for BUSD. Once I realised that that was a possibility, and with my new found confidence from getting into the Den I decided to give it a go.

And now I'm seriously wondering if this was a step too far.

Despite reading a number of posts and LeoFinance's document it still took me more than 3 hours to get into the farm. I suppose that's a bit of an improvement when you consider it took me the same to get into the Den.

However, when all was said and done I wasn't even sure I was actually in the farm since the Dec-BUSD Staked Amount showed as zero.

With a little help from people in Discord it was established that there was either a bug or the amount was too small to register. Either way I was in, at which point I decided to leave it well alone for a while.

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Fast forward to this morning and my plan to harvest some CUB from the DEC/BUSB farm and compound my CUB that I'd put in the DEN.

First I did a bit of reading about lowering fees in metamask and then, thanks to an article by @oldmans I was able to check the fees I've paid so far. (See Finding Fees On Binance Smart Chain)

I found it really difficult to work out what was going on so I downloaded a .csv file. That just made matters worse since, it appears I paid 7 separate fees to get the DEC/BUSD farm set up. Maybe that's normal but I have no way of knowing and just ended up feeling really dumb.

At that point I decided to leave the farm for now and switch to compounding in the Den.

The results were a little disappointing so I was going to return to Discord to check them out but I thought that would probably just add to the stress and I decided to write this post instead. That way I can take my time with any comments and feel less pressured to get my head around it fast.

So these are this week's figures from the Den.

I earned 0.198 CUB which is just less than $0.34 I think.
Fees were $0.36.
So I'm thinking I'd be better off compounding one a month rather than once a week otherwise I'm making a loss.
Would you agree?

I know we're talking tiny amounts here but I'd rather learn and err with this amount than risk cocking things up with a bigger stake.

Which segueways nicely into the DEC/BUSD farm which is still showing as zero.

I'm not sure whether or not there are good/bad times to harvest so I think I'm going to leave it as it is for now. It's earning CUB whether I harvest it or not so I'll take a bit of time to regroup and then go from there. Meanwhile I'll be pondering whether or not this something I want to learn enough that it's worth the time and angst?

Is Cub DeFi A Step Too Far? The jury's still out.

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P.S. Can someone remind me how to centre stuff in a post? Ta!

Posted Using LeoFinance Beta



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51 comments
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Even I'm really new to this cubdefi thing. I never involved in farms and pools before. This is my first time. It took me a while to understand, I had a lot of doubts. Discord group was kind enough to provide answers to all my doubts. Even I paid several times to harvest even there was nothing to harvest I just started staking. After that I understand I should stake only when I could able to collect some cubs. So I'm not harvesting now, I'm just staking and waiting for my cubs to grow. I'll harvest once they reach at least 20 cubs. Staking is only one thing unless you unstake it. They will keep growing.

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So can you stake and harvest in a Farm? I though you could only harvest in a farm and stake in a Den. 😕

!ENGAGE 30

Posted Using LeoFinance Beta

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Staking is same in both farms and den. In farms you provide liquidity with the combination of two cryptos, in dens you stake with only one crypto coin. Harvest only when you have collected good amount of cubs. You do stake only once. Harvesting is like collecting the coins you stak

Posted via D.Buzz

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(Edited)

You do stake only once

That's what I thought. I thought you were talking about regularly staking in the farm like compounding in CUB. 😂

Did they give you any guidance in discord about what is considered a "good amount" of CUB before you harvest?

!ENGAGE 30

Posted Using LeoFinance Beta

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If your state is high then you harvest once in a day or two days. If your state is low, then once in 3 to 4 days is enough. People who provided so much liquidity, they harvest like several times a day. Harvest only when you have collected good amount of cubs.

Posted via D.Buzz

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Yeah. But I don't know what is considered a "good amount".

I earned 2 CUB over the course of the last 7 days. I didn't bother to harvest it because of my experience in the CUB Den this morning. I think I'll just leave it there or now. Maybe ask in Discord like you did.

Posted Using LeoFinance Beta

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May be harvest them when you have 10 cubs. They just moved to your wallet when you hit the harvest button.

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Sounds like a plan. Thanks for your help!

If they are just going to sit in my wallet though there's no rush I suppose. I need to decide what I'm going to do with them. 😕

!ENGAGE 10

Posted Using LeoFinance Beta

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Yes, good luck on that. Do not waste your bnb on fees.

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You've taken no step too far in my view, I have personally want to get in on DeFi but never really due to the ETH gas fees.
CubFinanace was an exposure to DeFi for most of us here.

It took me forever to even see myself in the dens which I decided to stick to for now and learn more about the process and get comfortable before stepping into farming.

Good point you mentioned about compounding costing fees I never thought of that, something I should look into.

Posted Using LeoFinance Beta

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It's good to hear I'm not alone in finding the whole process continues to be challenging. Most of the people posting either seem to know what they are doing or struggle a bit and then know what they are doing. It's taking a lot longer for me but writing about it helped to put it into perspective.

Thank you for stopping by and leaving a comment. 😊

!ENGAGE 30

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I know we're talking tiny amounts here but I'd rather learn and err with this amount than risk cocking things up with a bigger stake.

Yes, I agree.

About fees, someone said compounding fees should be 5% of the amount, so if you calculate that, you know when to compound. Obviously it's not a rule, it's an opinion of someone, but it's a good one as following it gives you more profit.

I'm glad you finally decided to post :)

Posted Using LeoFinance Beta

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someone said compounding fees should be 5% of the amount

Thanks for that. It gives me somewhere to start at least. My plan was to compound once a week but now I'll check once a week, see how long it takes to get to 5% and then adjust my schedule from there.

!ENGAGE 30

Posted Using LeoFinance Beta

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Stick with hive and splinter lands, these exchanges are for the big players with thousands of dollars to trade, for us small fish the fees are not worth the effort.

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Too late I'm already in the Den and one farm so time will tell. Thanks for stopping by and leaving a comment.

!ENGAGE 20

Posted Using LeoFinance Beta

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No problem, I did the same thing that’s why I mentioned it, went in very small 2000 dec half in dec and the other half in busd, making me cub tokens every day, another week and I might have enough for the transfer fee.

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the defi thing is also not an easy things to do for me, but thanks to cub, i finally get a hand of it, at least it was a nice way to start tough. farming from what we get for free.

regarding the fee, for interact with smartcontract it should charge you at least $0.3 per tx, it so much less than it is on eth.
and yeah you should compound or harvest the cub when it has a good amount, as you have to always consider the $0.3 fee for each tx.

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at least it was a nice way to start tough. farming from what we get for free.

I agree. I don't think I would have got involved elsewhere.

I'm getting the hang of the fees now. I won't be farming or staking very often.

Posted Using LeoFinance Beta

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only stake or harvest when the can cover the fees. keeping it laying around for sometimes i guess is not a bad idea, rather then harvesting it and letting most of the value are taken by the fee.

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To center a post use markdown

<
center

And

<center/

to close it.

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You make great posts! If you ever post some Splinterlands content let me know so I can send you an upvote!

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You make great posts!

Thanks although I think that's the only one I've done since the move to Hive. 😂

I'm more of a curator these days.

!ENGAGE 10

Posted Using LeoFinance Beta

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(Edited)

It was for me ... I’ve lost about $3,000 USD so far... on paper though. I guess I will be HODLing my Cubs for a very very long time now.


Posted via proofofbrain.io

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I’ve lost about $3,000 USD so far

Oh dear.

The only CUB I put in was from the airdrop and then from the DEC-BUSD farm so I'm not too concerned about the CUB price at this point. I'm more sad about the DEC I've lost since I would have been earning more SPS from JULY if I hadn't put it in the farm.

I have no idea if the DEC-BUSD farm is going to be moved to Kingdoms so I'm waiting to find that out before I make any more moves.

!ENGAGE 20

Posted Using LeoFinance Beta

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Well I converted almost 4 BNB to Cub and put them in the Den... I’m earning a few Cubs every day but if I had left my BNB as BNB I would have had a lot more $$$$ ... oh well. Like many things in crypto you win some and you lose some. I converted $10 USD into 20,000 Dogecoin ... and then $5,000 USD


Posted via proofofbrain.io

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Like many things in crypto you win some and you lose some.

It's the only way to earn . . . giving it a go.

converted $10 USD into 20,000 Dogecoin ... and then $5,000 USD

Are you saying you made $5,000 from a $10 investment? 😱

Or that you invested $5010 in Dogecoin? 😂

!ENGAGE 30

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(Edited)

I turned $10 into $5,000 ... but the $10 worth of Dogecoin was free from watching Videos on Earncrypto


Posted via proofofbrain.io

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Wow. Now that's what I call a result!!! 😁

Posted Using LeoFinance Beta

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Or Pure Luck. I never imagined Dogecoin would ever go to .74 cents .... I sold most of my Dogecoin when it mooned to .01 penny.... but I held on to 20 k by accident when I forgot I had some


Posted via proofofbrain.io

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if everything is the same apart from the price that’s not fun!

That's brilliant. Makes the win even better! 😂

!ENGAGE 20

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(Edited)

That’s the benefit of having hundreds of wallets scattered all over the place... unless you lose your keys that is.


Posted via proofofbrain.io

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(Edited)

in case you still want advice about this, the only thing I can tell you is... don't invest in defi unless it's at least like 20000 usd. small compounds are not worth your time. you can see you got a lot more from this post alone

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I love to "pay and learn" as much as play to earn...
I pay fees and with mistakes to understand crypto.
I see you do it too.

Busd -DEC....I dont like 10% apr.
You can go for BNB/SPS if you want to expose to crypto in splinterland. APR 100% and farming cake.
But APR can always change - still 10% isVERY low.

Good Luck.

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still 10% isVERY low

It is indeed but I've lost so much DEC I think I might as well stay there now. I don't know anything about Cake, other than a lot of people are farming it. 😁

Working out if the DEC/SPS pool is a better option makes my had spin.

An upside I suppose is that earning more BUSD I'm diversifying a bit. 😁

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