Have you ever heard of Belt aka Belt.finance? No? Good! Lets talk about it π
One thing that I do not get here on Publish0x that people are talking over the same coins all the time sharing their referral links like the hundreds time. Do I know how Binance works? Yes and did I sign up at KuCoin already? Sure! No need to repeat the obvious but hey - that is only my opinion. For myself I am especially eager about new platforms, tokens and stuff in general I did not know before and that is why I am talking about Belt π₯ today: Belt or Belt.finance calls itself the:
The conveyorΒ BeltΒ of optimized yield to your assets
Make sure to separate between Belt - the platform itself - and $BELT- the token- see below:
$BELT is the governance and incentivization token of Belt Finance (the platform) and gets distributed to all types of pools offered on the platform. It is ranked #580 on Coingecko right now so you can guess that it is not as widely known yet. The crazy thing is that I am the first one writing about it on Publish0x (check it out yourself - could not believe it myself). Especially as it was in the news recently because the platform was target of a flash loan exploit. But first things first:
$BELT runs on the Binance Smart Chain (BSC) and was issued via an IFO on PancakeSwap (PCS) at March 10 2021. Token Details can be found beyond this link. In a nutshell:
200.000 $BELT have been pre-minted and 150 K of them distributed via the PCS IFO with a price of 20 $ at this time. The $BELT supply has no hard cap. Supply will be controlled through deflationary mechanisms including comparably high buyback burns and through governance consensus.
With all the hype around PCS and the ability to over-sell nearly everything that makes it into an PCS IFO the IFO itself was super non suprisingly quite successful and the price of $BELT quickly rose to 163 β¬ (roughly 182 $). Recently the price (sadly) was under attack twice because of the market "crash" in May 2021 and the previously mentioned flash loan attack (read more about here). So it is trading around 35 $ at the moment.
What brought me into Belt.fi was #1 of the following promises:
- Stable positioning of your assets with little to no impermanent loss
- Automated, maximally optimized yield
- Complete Decentralization
- AΒ fully governance-based BELT token economy
As I was looking for a good and safe method to stake my stable coins and generate nice interests when the unique 4Belt Liquidity Pool on Belt convinced me with its offer of nice APR with little IL risk on all your stable coins (at the moment I staked BUSD into it with an 45.82 % APR) like DAI, USDT USDC and BUSD. Additonally there is the option to access it via Beefy or other Yield Optimizers and also features other Liquidity Pools or other single-asset staking.
Even as $BELT was audited twiceΒ there is nothing in crypto that comes without risks and so Belt.fi was attacked and the 4Belt LP suffered. I lost some money in it (but I am used to it already - as I was also a Pancakebunny victim Β―\_(γ)_/Β― ) but Belt.fi is working hard on there recovery plan and already made a first offer about it: The 4Belt Compensation Plan.
I am not complaining here as we always remember: DYOR before investing. To be honest I did not do that much research. I am not a huge investor - I am playing around with my gains I made on other coins and have fun charging nice yields so I am willing to take the risk while knowing that I did not spend hours on researching who is the company and the people behind a coin and how does everything work in detail. If you are up for this info check it out here:
In the end it is a matter of opportunity costs but that is a different topic for a different day. I am not offering any TA (as I am not a huge believer in that) nor is this any financial advise of buying into the Belt ecosystem but if you are looking for nice yield on your stable coins at least take a look π
What I definitely can recommend:
- If you are interested in $BELT check out the small ongoing airdop at DappRadar (this is a pure Twitter link - no referral or anything)
ps.: Thanks for staying with me in this article! Tip yourself generously and leave a "Thumps up" if you liked what your read π
