How I Bought HIVE Without Spending Any HBD

Maybe you're like me who want to accumulate HIVE while the price is very much affordable, and although I use most of my daily HBD rewards to buy it onchain, I found a way to acquire it off-chain without spending any of my HBD.

And this morning, I was able to buy 16 HIVE without costing me any HBD, thanks to the DeFi side of LeoFinance for making that possible.

How did I do that?

Step 1:

• Sometime ago, I wrapped HBD via the Multi-Token Bridge and added liquidity on the bHBD-BUSD LP on CubFinance to farm CUB.

  

Step 2:

• I harvested the CUB when enough has been farmed. In this example, a total of 269 CUB was earned by the LP for 16 days since the last harvest where the APY was a little lower at 27%-31%.

Step 3:

• Swapped or traded the harvested CUB for HIVE via the Decentralized Exchange, PancakeSwap. Note that I simply traded the asset that was farmed by my provided liquidity hence, I didn't spend a single cent of my HBD.

  

  Now that the APY of the liquidity pool has increased (39.28% at the time of this writing) compared to 2 days ago (31.68%), I may expect a higher number of CUBs to be earned in the next half a month.

  

  And since the paired assets are both stablecoins, I don't have much worry because the Impermanent Loss is at least minimized unless one of them de-pegs significantly.

What would I do with the HIVE bought?

• Option 1: Stack them up

  Accumulate enough and add liquidity to the bHBD-bHIVE LP to earn CUB which can be sold or traded for HIVE. Rinse and repeat. We're not only earning, we're also helping in deepening the liquidity of both HBD and HIVE off-chain.

• Option 2: Send HIVE on-chain

  Unwrap the HIVE through the MTB and send them to my wallet on-chain and stake them (power up) as HP to increase my influence and curation rewards.

• Option 3:

  Keep them as liquid off-chain for arbitraging opportunities.

• Option 4.

  Trade them for HBD, although this isn't likely what I would do since my goal is to keep accumulating HIVE.

Thanks to LeoFinance for breaking the barriers between Hive and the other blockchains (BSC and Polygon) through the Multi-Token Bridge, we now have more options as to where we can invest our Hive assets.

DISCLAIMER: Not a Financial or Investment advice. DYOR.