So, in February I enrolled in BSC; investing originally in: obviously bnb and also buying some cake, zeroswap, bdo and sbdo. Then I proceeded to provide liquidity. At that time cake-bnb lp APY was around 200%, bnb-zee lp APY was around 300%, sbdo-busd and bdo-bnb lp APY's were around 400%. All of those tokens except for cake were fairly new, that was why the APY was kind of high.
Although I have put, since last year, some eth in uniswap and sushiswap, I consider myself a newbie un terms of using the DEFI farms and pools in an active way, so at mid February when zee token took a dip, I, as a newbie, made my first mistake, I panicked and sold my lp tokens, of course, losing some money in the process. With zee I made 2 errors, first, as I just said, I sold instead of being patient and wait.
My second error was not to DO MY OWN RESEARCH, you see, when I trade bnb for zee it was because I saw a great opportunity with the high APY, so I went crazy and hurried to take advantage of it. Everything was fine for the first 15, 20 days, and suddenly the price of zee went down from 1.10 dollars to 0.65 dollars, that's when i sold. After i got rid of zee tokens came my second error, the error, that was really the first one, was not to do my own research, I mean, i bought the tokens, provided liquidity, panicked, and sold, BUT, after I sold suddenly the price of zee started to rise and today its price is around 2.37 dollars per token. So I made my research, too little too late.
It turned out that zeroswap is a very good project, it is a multichain trading protocol and exists not only in BSC but also in ETH and ELROND. So that is way now the price of its token is higher and it has been stable for the last month and a half.
So you see, that were my 2 mistakes. Right now i am having the same dilemma with bdo and sbdo, their prices have been going down the last 3 weeks, but this time i did my research and bdollar it is also a good project, they have been delivering new products at an amazing rate. Just in the last 2 weeks they made multipegged tokens and a tracker for investments in its and another platforms. So although the scenario is the same as it was with zee, I am taking a different approach, of course I am constantly checking the value of my lp's, however this time i am being patient, and hoping they recover in the next weeks. For now I am waiting and seeing, I will let you know later what happens.
Regards!