Weekly update on Cub Finance. I increased my stake in CUB-BNB LP
Hi there Leo and Hive Family,
As the bull market is now at a stage of leveling up due to the IPO of Coinbase, I felt that I want to invest only in projects with great potential for future growth. I will not lie, 2 out of 3 of my investments are poor ones. But recently, I have been able to amend them very well by purchasing BNB coin before the unexpected huge pump. I also had bought Egg tokens to stake them in Goose Finance but the price of Egg is not moving anywhere even with the announcements and innovations that they are currently releasing.
I will be honest with you:
This picture best describes me. I try to do my DYOR but still, in the end, it looks like I am this monkey that shoots his arrow blindfolded. And so I have decided! I will remove my stake at Goose Finance and re-invest it in Cub Finance. At least this is a project that I want to get to know better. I also want to develop my crypto blogging skills and naturally Hive, Leo, Cub Finance, they are all inter-connected. And here, we do invest the most precious of all human resources - Our time!
Here is what my stake looked like last week. In 2 days, I was able to yield 1 CUB which price is a little under 4 dollars. Not too bad at all.
And so I increased my LP tokens from 2.8 LP to 5.8 so basically doubling my stake. Now I gain 1 CUB per day. I feel that this is a great investment. I also see famous YouTubers talking very good things about the Leo token and that it is about to surge strongly in price and actually it is pumping:
This will inevitably influece Cub Finance but in a good way! And so, I will be providing long term liquidity. The goal is to start earning 1 CUB per day from the Dens. Now that would be very sweet!
Couple of things that I understood while jacking up my LP tokens:
When you add more liquidity to a Farm in which you have already yielded CUB tokens, they dissapear and you start from 0. But, the already yielded tokens are not lost! Just check out your Metamask or whatever wallet you use. They are there! Do not forget them, as you can place them in the Dens and earn more CUB.
Also, I now understand much better what impermanent loss is. It is when you start deviating clearly towards the one or the other token. They should be relatively 50-50 in proportion. If you start having more of the other token, then this is called impermanent loss and it is only temporal. Usually in a couple of days it gets evened out.
In the case of the CUB-BNB Farm, when BNB surges a lot but CUB stays relatively unaffected, you will gain more CUB and vice-versa. But this is not a bad thing. It is not a loss! You are simply gaining more CUB that will increase its value over time.
Everybody talks about this impermanent loss and the people are only concentrating on the word "loss". This word shys them away from investing in LP tokens which is a pity.
I think that it would be awesome if a Hive Farm was added to Cub Finance. This would spike the interest of Hive holders and why not attract more Hive buyers. After all, we are a family. One ecosystem. Why not :)
The best is yet to come, we are not even half-way of the bull market. Whenever I hear my grandma start talking about buying Bitcoin, well, that would be the time for me to sell everything 😃😃
Thank you for visiting blog and have a great day!
Posted Using LeoFinance Beta