Risk free DODO farming on Binance

By belemo | belemo | 22 Feb 2021

DODO is some new coin that's been doing serious numbers on the trading front recently. It's listed on Binance and was among the top gainers two or three days ago if I'm not mistaken.

Anyway, I ran into this tweet from the official Binance account about this opportunity to Farm Dodo through the Binance app. You can read about it in their launchpad

I've been too lazy to go about moving funds around and getting a grip on Binance Smart Chain, so whenever I see an opportunity to stake on the app, I never pass up the chance.

Tiers

There are technically three tiers of staking but that's not exactly how it was described on Binance anyways.

How I see it, the three tiers are based on the amount of risk the staker will be putting money into.

BNB is top of the list and obviously so since they're trying to increase demand for it. It is a smart move of course but considering how volatile BNB has been lately, it also represents the highest risk.

Next up is ETH and a less risky option. I'm saying less risky based on the fact that the price has been relatively stable.

Finally, and the part I fall in, we have BUSD. BUSD is basically the Binance version of a stable coin and it offers the least reward.

I had like $450 USDT in my Binance wallet, so I swapped it for BUSD and staked it.

I'm not trying to rush you or anything but time is running out to participate. There are only like 10 days left right now, but I think that's enough time to get some rewards.

Unlike the usual liquidity pool stuff, this farming method is simplified and doesn't require that much input in terms of balancing and all that. Are there other safe and easy farming platforms like this out there?