From yesterday onwards, I have been very bullish about CUBDEFI. I spent some time yesterday to understand how to get started and today I did my first harvest and it was indeed a great experience. I also wrote a post on how people can get started with CUBDeFi.
Technically it is possible to harvest at any time but I wanted to wait for 24 hours to see how much is my gain per day. That's why I'm doing it once in 24 hours. This will help me calculate a bit on how my investment has been performing. I have not yet thought about what I should be doing with the gains. Either to reinvest or to take it out to safeguard my initial investment. Maybe I might come to a decision towards the end of this article.
The above screenshot is from the cubdefi.com website. This value keeps updating every few seconds on the website homepage if you have already logged in. After staking my CUB tokens, I realized how interesting it was to keep looking at those numbers updating every few seconds. It was so relaxing and motivating.
It looks like in the last 24 hours farming has given me around 4.6 CUB tokens which is worth 20.40$ at the current market price of 4.414$ per CUB. Full details on my investment can be found in the below screenshot. There is a small discrepancy in the price of CUB tokens displayed on the website and by the FRIDAY bot. I'm not sure which value is accurate but anyways the difference is very small.
I made an investment of a little above 500$ and I'm happy that the investment is still looking good. Even after 1 day of farming it looks like the initial value is still the same. I notice that every hour the total portfolio value keeps dropping by a few dollars when the price of CUB tokens keeps dropping.
Like many people feel, as long as we have the CUB token value above 4$, I think it should be okay. As we are just getting started, this should be a great thing for the early investors. My knowledge of farming is very limited and I consulted one of my friends who has been doing this for over a year now on other chains. He told me that we have to monitor this properly and make sure we are profitable. From his experience, he has not seen a great benefit from Yield farming it seems. But that is his personal experience. In my opinion, I'm happy to stay invested here because the Leofinance community has shown enough success to us in the past.
Even though I did not understand most of these concepts, I wanted to put my money into this. When I had the opportunity to buy LEO for a cheap price, I missed it. This time I don't want to miss out on any opportunities as the sky is very clear right now. Let us all hope CUBDeFi brings us all some good fortune.
I have finally decided what I should do with today's yield. When I'm posting this article, the price of CUB fell down already. Selling it for the current market price may not be a good thing for me. I decided to stake the yield today and increase the earning opportunity. Let's see how the next 24 hours go.
Posted Using LeoFinance Beta
