FARM farming strategies - #CropSpotter Writing Contest

FARM farming strategies - #CropSpotter Writing Contest


As i am trying at the moment to achieve financial independence in the next 6-7 years, through a combined strategy using stares, index funds, P2P lending and cryptocurrency rewards (Game2Earn, staking, DEFI, lending and blogging), i do not need to think a lot to find a winning strategy. As Leonardo da Vinci said:

''Simplicity is the ultimate sophistication.''

So, the aim is to achieve financial independence and to get enough passive income to cover my expenses (rent, bills, food and clothes + entertainment).

MAAPL-UST - Liquidity Provider APY 3.35% + Auto harvested MIR 279.82% (claimable as FARM here) + Weekly LUNA Rewards: 30.70% + FARM rewards 33.97%

AMZNMAMZN-UST - Liquidity Provider APY 3.06% + Auto harvested MIR 215.71% (claimable as FARM here) + Weekly LUNA Rewards: 19.35% + FARM rewards 20.29%

GOOGMGOOGL-UST - Liquidity Provider APY 3.46% + Auto harvested MIR 241.65% (claimable as FARM here) + Weekly LUNA Rewards: 26.89% + FARM rewards 28.70%

TSLAMTSLA-UST - Liquidity Provider APY 7.25% + Auto harvested MIR 340.48% (claimable as FARM here) + Weekly LUNA Rewards: 49.18% + FARM rewards 59.13%

This is how you do it:

To acquire fMIRROR-AAPL tokens:

  1. Buy UST using stablecoins and buy mAAPL with some UST. As an alternative here, you can get UST on PancakeSwap. Even more, you can farm UST for free in UST pool using Cake, but you may need to hurry as there is not much left in the free UST pool right now. PancakeSwap is on Binance Smart Chain, and you can get Cake on Binance or send some BNB tokens to exchange them with Cake on the swap. So, there it is, you can farm the UST, sell half for a mirror.finance share and follow the step 2. The advantage here is that on BCS (Binance Smart Chain) the fees are very low ( 0.10-0.30 USD per transaction) as opposed to the 80-120 USD on ETH. 

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2. Visit Uniswap and supply liquidity to the MIRROR-AAPL pair by depositing mAAPL and UST

3. Deposit the mAAPL-UST tokens on the Harvest Finance front page

4. Then you follow the same steps for the other 3 tokens. 

I think that the Apple, Amazon, Google and Tesla shares will still do alright for the next few years, and provide stable returns in form of dividends, give the aggressive expansion, the only weak link in here i think is Apple on long term. So i will invest 25% of my liquidity in each of them. Both FARM and LUNA are tokens with high potential, so i believe in them on the long term. 

The resulting FARM will be invested in Profit Sharing FARM pool Auto-compounding - as an emergency fund. 

The resulting Luna will be invested in Soft Staking on Kucoin (3-5% interest) or Fixed Deposits of 21 days when available (7% interest). 

With a bit of math, i estimate that the monthly return will be (in the interest rate is on average at the same level), for 25.000 invested in each of them four:

Apple - $7250 (out of which Luna is $2230)

Amazon - $5375 (out of which Luna is $1040)

Google - $6250 (out of which Luna is $1680)

Tesla - $9500 (out of which Luna is $4672)

Total for the first month will be: $28375 which is almost as much as my annual wages. In one month. No kidding. I may start to do this sooner rather than later. The 1000 miles journey starts with one step. And then another. And then another. At the moment I have 0.5 FARM and 101 LUNA. 

 

This is the strategy i want to use to achieve financial independence. The only impediment in doing this optimally is the fact that i just started to save, and the ETH fees. So, depending on my returns, i may save until i do enough for one of it and i need to provide enough liquidity to make the fees irrelevant (probably 5-10k at the time). 

Yours truly

George


Heruvim78
Heruvim78

I am a writer, gamer, healthcare professional. I am.


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