So finally putting my feet in Defi in Wax Blockchain.
I can say that I am a very conservative investor or trader and very risk-aversive. I have always prioritized investing in known and trusted projects, not risking my capital for high APR gains and this is one of the reasons my Defi exposure is limited to the projects in Hive Blockchain or created by users known to me in Hive Blockchain. When projects like Terra Luna scrambled and rug pull happened in Defi, I was never impacted by them.
At the same time, I also felt that keeping myself so restricted in Hive is also causing me to lose opportunities that are available outside and more importantly it restricts learning because unless you do not transact yourself, you do not gain experience and appetite to take risks and analyze risks.
Before going to the Defi route, I decided to check the game.
By seeing the first glance of the game, it gives a nice impression though actual evaluation can be done by playing the game itself. I am right now cannot invest my time in evaluating the game so I guess I will convince myself with a first impression and a review from a fellow player. So to invest in this game token, the below 4 options are available in Alcor Exchange Farms.
I decided to take part in NBMMIN farm as it has highest APR and I find the below information from the game docs.
So it means, Minium is a less abundant resource and NBMCON is the hardest resource to get but the APR comparison of NBMCON vs NBMMIN is 76% to 130% and I went with NBMMIN:WAX pool.
So I swapped 50 WAX to get NBMMIN and initial screen showed me that I would get 466015 NBMMIN.
But after the swap was completed, my wallet got rich by 466,532 NBMMIN tokens (+ some fraction, that we can ignore)
I simply added liquidity with pairing it with another 50+ WAX and after adding liquidity I am all set to earn fees in the pool as Liquidity rewards.
And you can validate your position at https://alcor.exchange/positions and visit again the Farms tab , clicking on the details will display your earning rewards.
Since this is more about learning, so money risked here is less than $10 and I can afford to lose without putting any kind of stress on my health and mind. Rewards in the pool are active for the next 47 days and I have to figure out not more things if claiming daily rewards in Alcor Exchange has some fees or if claiming liquidity pool fees is free or can be done daily. I also see that Alcor Exchange has a price range in which it will automatically swap or liquidate a position from one token to another, it looks like a risky proposition to me at current but I will put some more time into understanding it before putting its Pros and cons.
Hopefully ,this Defi position provide me the learning curve and financial gains that I am looking for and if it really look good, then I might explore other Defi farms in Alcor exchange.
Posted Using InLeo Alpha