My 24 Hour Journey In DeFi & CubFinance

in LeoFinance2 months ago

My 24 Hour Journey In DeFi .png

The funny thing about being in the crypto space is...

There seems to be something new to learn every day you come online.

And the DeFi space scared me. Big time! I heard about it, saw the insane obsession people seemed to have but I considered it way above my pay grade.

For the 'smart' crypto investors...Not for dollar cost average guys like me.

But then this happened....

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I've been a huge fan of Leo since Steem Engine days...And have wanted to support the community and project everywhere I can. And they were launching a DeFi platform on Binance...So I told myself...Don't miss out....Again!

Again?

Yeah the whole WLEO thing passed me by...I detest Ethereum. It's a great token if you hold it and mine it, but using it isn't let's say...The most user friendly experience. Arguably the worst lol

And top it all off, it costs a mortgage payment to use it...

So I missed out on WLEO....But I would be DAMNED if I was going to miss out on Cub!

So I was ready for yesterday....

I started by telling my wife and kids, I'll need the office door shut and quiet for a few hours LOL

And then started with the docs....

https://docs.cubdefi.com/

These really helped. And it was funny that @LeoFinance kept pointing people to them on their official news release for CUB, but rightfully so.

They were great...All until I got...Providing liquidity....

Oh boy!

First attempt...Failure! I couldn't figure this out;

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O.k., no sweat Jon...Go through the steps again and make sure you did exactly what was laid out...

Second attempt....Failure!

WTH!!!!!!

I don't understand...Oh this isn't for me, why do they make this so complicated?

Stop whining, I told myself, go through it again and see what you missed....

Third attempt....Failure!

&(jfdjurj^9373o3j#$O##K!!!!!!!!!!!!!!!!!

Oh I was raging now :)

That's it I'm done....I was about to shut it all down and then I said....Why not ask a few people if they could see where I went wrong?

I asked the @brofund discord and even our own @clicktrackprofit discord too....And literally at the same time, @achim03 and @raymondspeaks answered....

"Hey man, do you have any BNB in your Wallet?"

My hatred for Ethereum had me in 'ETH mindset' instead of....BNB mindset lol

And....This is why you should NEVER leave me with anything technical...

Of course, this was the issue and after I corrected my 'in your face' mistake.....

I picked my first 'farm':

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I had 400 liquid LEO that I brought over and then paired it with a little over 1 BNB token to get into that pool.

The APR for this was like 10k or something insane last night and I know this stuff is very volatile, but I'm in it baby! I'm officially in the DeFi game and after 24 hours, here's where I stand:

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Over $100 bucks worth of CUB token...Which of course, I'm just going to send to a DEN and earn more on it...

So....

The Verdict

Today I was with @nathanmars and @taskmaster4450 for a live stream and Task said something that really hit home to me...

I'm paraphrasing but:

"How long so people go to college? For a degree or to master something? 4 years minimum...And here we are in the crypto space getting frustrated if we don't learn something in 5 minutes or less. Spend the time, dive into this stuff and actually put in the effort to LEARN about crypto, DeFi and all the amazing projects being created here...It's worth it!"

That's my lesson to myself...Don't give up, poke around and learn every single day. There are plenty of resources out there and we are in the best community to do just that.

So 24 hours into Cub Finance....I'm LOVING the journey that much more!

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"How long so people go to college? For a degree or to master something? 4 years minimum...And here we are in the crypto space getting frustrated if we don't learn something in 5 minutes or less. Spend the time, dive into this stuff and actually put in the effort to LEARN about crypto, DeFi and all the amazing projects being created here...It's worth it!"

And let be honest, this stuff isn't rocket science even though it is hard.

People will spend hours on Facebook which gives then no appreciable skills. They go to school getting degrees that are basically worthless. Then they get, and complain about, dead end jobs.

And here is a chance to delve into something that can provide a great deal of wealth, and they get frustrated and say "I'll stick with what I know. Thanks".

Mind boggling when you think about it.

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Once you 'get it' I think it makes so much more sense but you are right, people give up and just right it off as 'this isn't for me'...

Which I'm VERY guilty of lol

But I made the commitment yesterday, come hell or high water, I'd get it started lol

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Facts and that's a good way of looking at it. These things take time to learn. Learning and constantly learning is seriously powerful and what so many people lack to do now. I seriously love learning new stuff and wouldn't ever want to stop.

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Best part of this journey so far...Actually understanding things I never thought in a million years I would.

Been watching videos all day about the entire DeFi space. So cool...But not for the squeamish LOL

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Nice job. I wasn't around for wLEO and I didn't really have enough LEO to make bLEO worthwhile to bother so I am focusing on staking my LEO. However I am indirectly participating through some of my tokens such as LBI which is why I am cheering on the project indirectly.

I personally think the APY is a little too crazy and I am not sure what to do with my CUB when it does airdrop.

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Yeah that's the DeFi madness for sure. We'll see how it goes. The big different for me is, who is behind the CUB stuff....Leo and this community. So I'm thinking long term no matter what.

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That's the 8th post about CubFinance I read today and I'm still learning new things.

I'll really need to read a step by step guide with everything listed to know exactly how much of each token I should deposit for the amount I can spend :')

Great post !!

The main issue to get your started is to fuel your metamask walled fueled with a small portion of BNB. The wallet is confusing where it is asking for ETH as a fee but you are using your BNB for the small fees.

As long as I don't need to buy 1 entire BNB i should be able to try it

Nope, just a few bucks of BNB will take care of it!

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Check out @bitcoinflood 's post he made for it....It was helpful for a lot of people in my community!

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Love your writing style Jon. One of the best on our blockchain.

Keep up the great work!

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Appreciate that very much, thanks for the compliment!

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lol...holy smokes you and I had the same adventure getting started with this.
I was able to get my beak wet a day later after a fellow Hiver send me a small bit of BNB to get my CUB fueled up fir sitting in the den.
I think that bit of confusion with using metamask is what was tripping me up.
Now Im in at to win it.

Yeah exactly my thing...I was so in 'ETH' mode and frustrated with it, I didn't even think...Oh hey, why not get some BNB in your wallet LOL

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Thanks for sharing this! I'm sure I would have gotten stuck on something very similar... most of this feels far above my pay grade but I'm going to figure it out, somehow!

=^..^=

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Yeah and this sounds SOOOO corny, but if I could figure it out, there's hope for everyone....Thankfully, I had a couple of guys that helped me see my blatant error LOLOL

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There's hope for me! :) If you struggled and made it through, I might be able to as well. Just have to see if I can use Binance as a US citizen.

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Yeah it's tough for Americans with this stuff on Binance...I'm sure there are ways.

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That's one I'm working on, too. And not only a US Citizen, but resident in the state of Washington which is on almost every exchange's "short list" of places they don't serve.

=^..^=

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It has that sense of dejavu when I first started on Steem/Hive. So many things to learn and I'm still learning! DeFi is "just an extra lesson" on the Crypto Module ;)
Only time and practice will tell!

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ha ha ha ha I dunno....that was complicated. I'm sure the more I mess with it, I'll be able to drop some lessons....Wanna do it for Blueprint??? lolol

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Lolol i didn't mean doing lessons per se was just comparing it to a learning curve lol but one day i will understand and make a guide myself 😁

Congratulations on your earnings and success. I might mess around with this and BNB. I'm scared to death of those Eth gas fees which is one of the reasons I've been avoiding a lot of the DeFi stuff.

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Yeah and I think that's the attraction to BSC....It has literally cost me about $1 to play around in CubDefi in fees. It's insane that everything costs 'fees' though...I like the resource credits on Hive much more LOLOL

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awesome man!!!!!

it was a bit of the same with me. I read the docs tried to do it and felt confused. So in order not to make any mistakes i asked the stupidest questions on discord in order to be 100% certain :p

Next, i did it!! I also wrote a guidepost that would help others like me as well as myself to remember the process better. Also when i run out of bnb and had some bleo left, i traded in the exchange option half of that bleo for bnb and then staked them as well!

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Yeah I got some more BNB to play with and need to get some bLEO now...I totally see how this will help moon shot the price of LEO.

So exciting!!

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CUB is making me feel a little dumb right now, haha!

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It's another level of crypto stuff lol

I'm not the sharpest tool in the shed, but I don't think I'm the idiot of the community.....However, I'm questioning that these days now lOLOL

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It's crazy isn't it. I was lucky to have been used to Pancake.

NB when you pull out of those pools be aware that there's a couple of stages involved like there is getting in there with staking the LPs.

I just decided to pull some cub and sell it, I have this feeling it's going to come down in price soon!

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Yeah I'm sure it will. I'm just thinking about when UNI launched....The initial hype, the sell off and then the steady climb...Hoping CUB follows that path.

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I'm still in the dark with all this CUB stuff. I was hearing something about an airdrop and transferring stuff from HIVE to BNB (doesn't that stand for Bed & Breakfast?). Since I never saw any kind of new tokens show up in my wallet, I felt like it was a sign that I was spared from having to try to figure all of this crud out.

BNB is Binance's token....But CUB is a token on the Binance Smart Chain (BSC).

Lots of juicy info to digest, but you can't go wrong reading the docs a few times on https://cubdefi.com

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I'm probably not maximizing my earnings but i'm in already and its been amazing so far. Waiting for the airdrop and see how that goes.

Oh it's been crazy....I'm in the bLEO-BNB pool and then taking my CUB that I'm farming and sticking it into the CUB Den.

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I do not have much Leo so probably not worth the shot to go build up a nest egg of BNB and moving Leo to get what ever tiny amount of Cub I am entitled to. Congrats to you for being able to set it up and get your passive earning going.

I hope this is a big win for the entire community. Just that little but anyone has, can prove to be huge down the road :)

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More info why you see this.

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Appreciate you man, thanks for all you do for Leo!

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DeFi learning is not easy. Let’s keep learning

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Thanks for being our honored guest today.

You were sensational.

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Oh man, I was getting very frustrated yesterday lol But it all worked out lol

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As long as defi was limited to Ethereum blockchain, I even didn't want to get into it because of all the gas fees. I'm quite happy that leo decided to choose BSC to launch their platform with a somewhat managable fee structure. It's a great feeling when you discover something new and add to your bagage. Defi litteraly opens a world of possibilities...

It's so exciting...I still hate the metamask stuff and all the fees...But it's a much better experience than ETH based stuff.

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My first forray into defi as well. I tried Uniswap but just ended up losing money that I didn't have. Quit that shit and minded my business.

I was considering doing the same thing with cub but said, fuck it, I'll mine. Fees are cheaper and learning curve not too steep.

I joined the same pool with you initially. Now I've diversified into the more.lucrative pool by buying some BUSD and then staking it with the Cubs I earned from the initial pool.

So I'm making Cubs, and then earning Cubs for Cubs.

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DId you buy the BUSD right on Cub?

I'm still a little new to the swapping on there or if I have to go to Pancake or something lol

What a rush it's been so far!

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I bought BUSD from Binance and then sent it to my metamask wallet.

I want to find out what is the minimum amount of Leo needed before I jump in and cry in front of my computer for not figuring how it works :))

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LOL I'm pretty sure you can get started with 1 leo....It's the BNB that you need for the fees.

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I don't have BNB either... pleb life

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"How long so people go to college? For a degree or to master something? 4 years minimum...And here we are in the crypto space getting frustrated if we don't learn something in 5 minutes or less."

Spot spot spot on!!

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Taskmaster is wise beyond his years LOL

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"How long do people go to college? For a degree or to master something? 4 years minimum...And here we are in the crypto space getting frustrated if we don't learn something in 5 minutes or less."
I am always saying some version of this to the students I tutor. Even the smartest person in the world is not going to get a math problem right if he gives up before he is finished working the problem. Not to mention all the people who say, "I could never...(knit, fix cars, play piano, learn a language, etc.)" when they probably could if they committed some time to the project. We spend our time on the things we value and we tend to get really good at those things. Another thing I tell my students is "I only knit faster/better than you because I have been doing it for half a century. Anybody gets good if they keep at something for 50 years." Fortunately it doesn't take 50 years to learn the basics of crypto--just occasionally days and nights of pulling hair out and screaming and looking for help. :)

So true!

We get so frustrated quick if we dont solve something right away....But if we think about it, that's what gives crypto it's power...It's not easy to solve lol

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!BBH

Command accepted!

Because this is such an awesome post, here is a BBH Tip for you. . Keep up the fantastic work

Nice! I am sorry that I wasn't able to help you a bit more yesterday when you were struggling through that. I am happy to see you got it sorted out and it looks like you are getting some really nice returns! I need to try to get some more money into something over there, but I just don't have it to spare right now!

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No worries man, I just flipped the crypto I had already...The best thing about all this stuff is I have basically just been putting my dollar cost average of 25 bucks in fiat every week into this...Not a penny more. it's all grown on it's own.

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That is awesome. All of my spare crypto is tied up in projects that I am waiting for them to actually do something. I am hesitant to pull any of it out because I think the stuff I have it invested in right now is ripe for a good run!

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Since ancient times, man has learned from his mistake, but we thank everyone, especially John, so that the mistake he committed is sharing with us so that we do not fall into the same mistake, and we will try this coin and this scheme according to our capabilities.

Never spend a dime that you can't afford to lose. I didn't put much into this to see these results and hald of it was earned from my activity on Leo. Which is a huge bonus!!

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I need to buy some BNB to make the pair. Also, what's a DEN?

Yeah BNB is needed for that pool I'm in.

DEN is just a simple staking program. Stake you CUB, earn your more CUB :)

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I started by telling my wife and kids, I'll need the office door shut and quiet for a few hours LOL

Lol. Love reading these stories about people's first experience with Defi.

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LOL It was an adventure for sure....The kids are back in the office screaming, so all attempts to learn more today are shot lol

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Great man, awesome that it worked for you in the end!

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Not bad....I mean this can all go to zero so who knows LOLOL

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As long as we don't use money we can't live without, we'll be alright. ;)

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This is amazing that
#defi is at our doorstep
inside the community for
everyone to try and learn
the IF and BUT of decentralized Finance.
March is full of surprises.

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Putting all my earnings back into farms. Feels great!

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How long so people go to college? For a degree or to master something? 4 years minimum...And here we are in the crypto space getting frustrated if we don't learn something in 5 minutes or less.

This is one of the greatest crypto quotes (even life quotes) I've read. Preach it @jongolson PREACH IT!!!

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I still have to figure out what to do with my Cub token..
Will go through the token ...
Any suggestions?

This phrase of Task about college, hit me like rock. In fact, we have to focus on learning more about this, it will be our money in the future

by the way, your post made me laugh a few times, I went through a similar situation, if you want to read a look at my last post

peace

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If I could just understand enough to stake and farm my cub It would be great. I don't have anywhere as much as you do but I want to get this set up so I can be sitting pretty too.

I started by telling my wife and kids, I'll need the office door shut and quiet for a few hours LOL

Hahaha ... I know how it is 😁

For me it is also something very new, I didn't go to be an LP on wLEO because the ETH platform with its high rates didn't let me go. I'm not the type to waste my money like that ...

In BSC it is much better and despite being noob for DeFi, I realized that the CubDeFi platform is excellent and quite simple. It helped me a lot in the beginning and the documents were also worth every read and the Roadmap is very interesting and it won't be long before we see amazing things being released again.

It's great to know that many hivers are having their first DeFi experience with LeoFinance. It's like you said, we're in! I am more of a liquidity provider and let my CUBs come because the harvest will be huge! 🤑

Success on your journey!

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