I have just started staking to earn BNB at a high reward of 97.46% APY at a new site called Kebab Finance that has only started on 20 January 2021.
Kebab Finance is a Defi that is based on Binance Smart Chain. With the high ETH gas fee, many of us are actually seeking alternative Defi platform and Defi that is on Binance Smart Chain would only cost around $0.30 for each transaction so even if we have decided to make changes to our staking or farming, the gas fee does not really kill us like those Defi on ETH.
Kebab Finance has only recently received its light audit certified by Certik with a high security score of 88/100.
It is in the process of getting a full audit. It has also recently been accepted into the Binance Smart Chain(BSC) Most Valuable Builder Accelerator(MVB) Program.
Under the MVB program, Kebab is able to get some BNB daily through the transaction fees from the contract.
Based on its latest post, I understand that it is able to generate about 12 BNB daily from current transaction fees that adds up to about 360 BNB monthly. Kebab is able to get 30% of it which is around 108 BNB.
With this extra funding, it has just started its new BNB staking pool. It plans to use the Binance Smart Chain BUIDL reward to sustain this BNB staking pool which has a high APY of more than 90% at the point of my post.
Those who are really interested to earn BNB through staking can give it a try but we would need to stake its token called Kebab to get into the pool.
I must agree that the price of Kebab can really fluctuate since it is still at its initiate stage so the price can be easily manipulated by a small whale.
Before the certification from Certik, the price even went as low as $5.06 on 11 February 2021 due to FUD.
The recent hack on Icecreamswap has certainly shaken and affected quite a number of investors. The hackers were able to steal about $1 million USD.
Defi is an attractive passive income opportunity but it does not come without a risk. There were also opportunities with high reward that were set up by scammers that many had lost their precious money.
I am new to Kebab Finance and I had only recently started staking in it. I cannot guarantee how safe it is but it seems to be legit with its active admin on twitter and telegram.
The new BNB pool would probably help to boost its token price too with more people staking to earn BNB.
With a little logic, we can easily figure that it does not really cost Kebab Finance to start this BNB staking pool since it is able to get extra BNB funding from the Binance program.
It is only about 3 weeks old so it does have its potential but no one can tell its future.
I have just started staking in its new BNB pool since I can earn BNB tokens as well as wait for the price of Kebab to rise for a profit if it ever gets enough attention.
Please evaluate the possible high risk factors if you do consider investing in Kebab Finance.
Disclaimer: This is my personal reflection and I am not in any position to instruct anyone what they should do. I am not responsible for any action taken as a result of this post. My post can only be a reference for your further research and growth. By reading this post, you acknowledge and accept that.