Cub Finance: How to stake in a FARM

in LeoFinance3 months ago


I am going to talk about how to add liquidity to a Farm in Cub Finance. In one of my previous post about liquidity pools and impermanent lost, @theanalystjohn asked how would they approach adding to a FARM. So I decided to write this post where I showed the steps on how to add to a liquidity pool and how to stake that in a FARM.

Unfortunately I had to wait for a failed LEO to bLEO transaction and the refund. This ended up taking a few days to process so I took the chance to increase the LEO I sent over (my earnings from blogging).

Cub Finance Farm Tutorial

In my tutorial, I am using LEO tokens, earned by blogging at LeoFinance, and using it in Cub Finance. I highly recommend you come join LeoFinance and blog about your crypto and financial experiences.

Requirements

There is one thing you definitely require before you get started: A Metamask account. You can find how to do so at the documentation tutorial released by Cub Finance. Afterwards you need to connect Metamask to BSC using the instructions here.

Your account must have some BNB for transaction fees otherwise you will not be able to do any of the following steps. You can get some off the exchanges and transfer them to your Metamask account. If you are on HIVE, you can exchange some HIVE into BNB using the BSC Bridge.

If you have earned LEO on LeoFinance like me, then you may use the instructions from CubFinance here to wrap your LEO into bLEO here. There is a fee of 1 LEO token. Please make sure to correctly write in your BSC address otherwise your tokens will be sent to the wrong wallet.

5-17 bLeo wrap.png
Afterwards, I confirmed on BSC that I received the bLEO tokens. You can find the transaction here.

5-17 bLEO BSC transaction.png

Swapping tokens

In my previous post, I talked about how to exchange tokens properly and I saw that there was clear documentation about how to do so here. Specifically you will be exchanging for the FARM you want to enter and in my examples, I will be adding to the bLEO/BNB farm. So I need equivalent BNB and bLEO to add to the pool.

5-17 swap.png

I currently have bLEO tokens in my wallet and I also want enough BNB to cover all my transaction fees. So I have chosen to exchange 144 bLEO into BNB where 4 bLEO is going to be converted directly into BNB. I click swap and approve the transaction on MetaMask to get the following confirmations screen.

5-17 swap confirmation.png

The swap went well and I actually got more than I put on my confirmation. Maybe the exchange was in my favor. The actual transaction can be found here.

5-17 bsc swap.png

Adding Liquidity

The previous step helped you get enough tokens to add to the liquidity pools equally. So now you need to change your tokens into the liquidity tokens. Cub Finance also has some great documents on how to do so here.

5-17 liquidity menu.png

The only difference that I saw that we need to press the button "Add Liquidity". It wasn't in the documents so I wonder if it has something to do with the UI changes.

5-17 liquidity add.png

I put bLEO in the top and BNB on the bottom. Then I put 140 for bLEO in and it automatically put in the equivalent BNB on the other side.

5-17 liquidity confirm.png

After confirming, I confirmed that everything happened correctly by seeing the two different transactions on BSC. The first transaction added the liquidity to the pool while the second transaction gave me the corresponding LP tokens.

5-17 BSC LP add.png

Staking liquidity in Farms

There is a good tutorial from Cub Finance on how to do so here. however the UI has changed slightly so I will just give you a slight idea on how to do so. Do note that every farm has a different fee and the bLEO/BNB farm I invested in has a 2% fee.

5-17 farm enable and stake.png

If you have never done the farm before, you need to click the Enable button for the farm you want. It is what you would see in the red box above.

Next you will see that red box replaced with whatever you see in the green box. To add your LP tokens that you got from the previous step, you need to click the + button (yellow box above). There is a confirmation on how much to add but I forgot to take a screenshot of it.

The purple box is more for you to get claim your rewards from the liquidity pool in the future. You can see the updated staked value below.

5-17 bleo bnb after.png

One thing to note though is that it ended up harvesting my CUB right after staking my liquidity. This means regardless of whether or not you it is your first time, you will have the same number of transaction to pay. If you end up starting fresh, you have to approve the contract and if you are adding to your existing stake, it will harvest your CUB. Unfortunately I didn't realize the CUB transaction would take place afterwards so the time stamps below don't match the ones earlier.

5-17 BSC stake.png

You can also check out your currently liquidity into the pool here. After you connect your Metamask, you can see your current liquidity in both Farms and Dens.

5-17 CUB LP holdings.png

What do I get out for adding to a FARM?

There are two ways you are earning when you add to a farm:

  • CUB rewards
  • Liquidity providers reward

The CUB rewards refer to the APR you see in the FARM. In the updated staked farm values of my bLEO/BNB picture, there is an APR near the middle of the screen. The CUB is generated and you have to harvest later in the future to get these gains.

The second is about liquidity provider rewards. I mentioned it before in my previous post. So for every swap that uses the bLEO/BNB farm I invested in, I gain a little bit of the bLEO/BNB fees generated. If you check out the post, I talk of another risk called impermanent loss that may also apply.

Conclusion

I gave a brief run-down of my own attempt at adding onto the documentation since the UI has changed. For the most part, everything is explained quite well in the documentation but the UI differences might make it a bit tough on people when it comes to the FARMs.

As a summary, you have to do the following actions and pay for 4 different transactions

  • swap
  • adding liquidity
  • approve contract (one-time cost) or harvest CUB (if you have existing stake)
  • stake liquidity into farms

I started with 0.00646 BNB and ended with 0.00776 BNB. So the extra 4 LEO for BNB costs will give me some buffer to harvest some CUBs in the future.

Please feel free to leave a comment if you read my post. If you have any questions, feel free to ask and I will do my best to answer.

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Nice detailed article dear.. the step-by-step guide is always helpful. thanks for sharing your experience with of of us here @leofinace.. cheers

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We do need more guides and people sharing their experience so other people understand how to enter Cub Finance. I think there might be a ton of people who just give up in the middle.

!ENGAGE 10

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Excellent tutorial colleague, it was what I needed once and for all to be able to invest in farms. One question, the 4 commissions on transactions equals how many dollars approximately?

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I believe it took about 3 LEOs worth of BNB as transaction fee from the 4 transaction so roughly about $1.50 or so. But I didn't get assigned the highest gas fees so I would think the max at 5 GWEI would of been around $2 or $2.50 for the transaction.

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I understand colleague, thanks for the information.

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!ENGAGE 10

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💥Boom !💥

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Thank you.

!ENGAGE 10

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Great tutorial! I have been loving Cub. It was a great way to get my feet wet in DeFi. Now it is my main vehicle for DeFi so I can't really complain about it. I am excited about Kingdoms and everything else they have planned for the future.

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Yea I am also looking forward to the Kingdoms and the integration with Thorchain too.

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What an amazing way to explain the farm investments, I currently have bnb-cub and busd-cub but I also want to try bleo-bnb.

That $190 that you invested, how much do you collect daily?

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I looked through the APY on the Cub system and I guess it would probably about $0.60 or so a day right now. But with the crypto markets in a sea of red lately, the total dollar value of the investment will go down.

However I do think everything will bounce back up and I should get some extra tokens from being in the liquidity pool.

I like the bLEO/BNB pool because of the LeoBridge but I think the pool with the least risk of price drops or price increases would probably be the USDT-BUSD pool.

!ENGAGE 10

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USDT-BUSD, so I will look into it and start investing there.

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Well there are always risk for each investment. I do think the CUB pools are probably the riskier of the investments because CUB is an all or nothing.

If you believe in wanting to keep dollar value with the APR from Defi, then USDT-BUSD is good.

If you believe in CUB dollar value going up, then you can choose CUB/BUSD (for dollar value) or CUB/BNB (for BNB going up in value).

Otherwise you can be like me believing more in bLEO/BNB because I think LEO will around no matter what. At the same time, I think both LEO and BNB will be worht more in the future.

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okay, I get your point.

Sure and we are seeing how the value of the cub has gone down lately and also the investment I have made, but if it stays in usdt or bleo it is more stable.

Thank you very much friends, I really didn't know this interesting and profitable aspect.

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i'll try it tomorrow

Great tutorial for newbies !

Even if the one in the CubDefi.com documents is quite thorough; it is always nice to have different tutorials.

Cheers 🍻

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More tutorials are better. I think the only thing missing from the documentation is probably the number of transactions and the fact that adding to a FARM would automatically harvest the CUB.

!ENGAGE 10

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also possible with #Trustwallet

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I tend to just stick with Metamask so I am unsure about using a trust wallet.

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I also stake cub and farmed it but price of Cub now is very low, should I be worried? I bought around $2.78.. Need enlightenment about it . Thanks

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I personally am not concerned about CUB at all. I feel like the upcoming Kingdoms and future integration with Thorchain will help prices go back up.

At the same time, I think Cub Finance is one of the safest Defi systems because I have trust in the team behind LeoFinance. When the wLEO pool was hacked in the past, they paid back everyone for their losses.

In the end, I do think CUB is probably going to be an all or nothing token. I do think its more likely to be a success though. This was the reason why I choose to enter the bLEO/BNB Farm because I truly believe both will be around in the future.

!ENGAGE 10

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This is great! I struggled so hard with this so I am glad to have clear instructions that I can use next time. Do you mind if I share your post in one of my posts about this? :)

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Feel free to share. I just hope it helps people in the future.

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Thank you for your engagement on this post, you have recieved ENGAGE tokens.

Very useful tutorial. I had to figure this out myself (with help from some people in the Discord channel).

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Yea when I did my first farm stake, I got confused and it was solved in Discord. I didn't realize there were docs then though either until I was writing up this post.

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Very detailed post... I was about doing a post on this writeup based on how difficult it was for me to learn how to stake.. Thank you for sharing

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Your welcome. I do think the steps tend to be a bit confusing but the documentation does a decent job. But I don't think it has been updated after the most recent UI changes. So I hope the steps I showed would help people understand how to run through everythings.

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thanks for this comprehensive guide, hopefully helping even a newbie like me to get his things done and enter CUBfinance!

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I am glad you liked my guide and I hope it helps you.

I think in general it isn't that tough but it may be frustrating for new users.

!ENGAGE 10

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yeah, i have configured metamask for binance smart chain already, but not have moved funds to it as i am not sure if everything will work i think it should, so always eager to see explanations like yours

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Buen post Vaya que buen post justo lo que necesitaba.

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Your welcome and thank you for the comment.

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