Binance Smart Chain (BSC) is spreading the tentacles on Ethereum shallow waters and is attracting capital, projects and trading volume. The low fees, scalability and faster transactions are the selling points that made BSC to rise and become a top dog in the DeFi ecosystem.
Introducing the youngest king of the jungle - Cub Finance
Cub Finance, from Leo Finance, is the DeFi yield farming platform of the future, with smart contracts and base layer application adapted on BSC to create an unique UI. My honest opinion is that mirrors Pancake Swap, with different colors and "Dens" instead of "Farms". However, the difference is that Cub Finance is not built by anonymous/ shady/ mysterious people, as the project is backed by a solid name in the blockchain ecosystem.
A Leo cub meets Cub Finance
When I've completed my first month on Leo Finance, I wrote a post called "This Cub learned to rooaar!" which maybe was a forecasting of Cub Finance. Now this young cub will explore Cub Finance and will try to learn and assimilate all the information as quick as possible. Opened the platform and the first impression was excellent, a nice clean and user friendly interface. The Cub Finance logo is cute and makes me think at "The Lion King"
I don't want to invest in LPs right now as the market is volatile so I will look at normal staking pools, the "Dens". At the moment there are 10 available dens: CUB, Binance USD, Wrapped Binance Coin (WBNB), Tether (USDT), BTCB, Ethereum, DAI, Polkadot (DOT), USDC and CAKE. The deposit fee is 4% of the deposited assets, except for CUB.
No more flippin' pancakes... time to make a den!
Time to withdraw the CAKE and move them to Cub DeFi. Took 102 from the CAKE Pool with the speed of light and moved to the SafePal Token (SFP) Pool and took everything out.
The next stop was the Litentry (LIT) pool where 300 CAKE tokens were waiting for relocation in a cozy den! I now have over 400 CAKE tokens ready to migrate from the kitchen straight into the DeFi jungle.
The 4% fee is awful as I paid 16 CAKE to deposit in the Den, which is $190. Hopefully the 6,227% APY will help recover from this high payment and get profit as soon as posible. The transaction fee was only $0.16 but again... thinking at those 16 CAKE I had to pay for the deposit.
I had BUSD on Binance, which I keep for the Launchpool but the 11,793% APY made me to send them to Metamask and deposit into the BUSD Pool. Again the 4% deposit fee hits me well, as I paid $9 for the transaction. This adds up to $200 for this platform change!
At 11 PM, approximately one hour later after my deposits, I farmed 6.2 CUB. The hourly farming was $23.35 which made me relax a bit thinking that in 9 hours I will farm enough to cover the deposit fees.
Yey! No deposit fees for CUB and 10X rewards! This sounds promising! I added the 6.2 Cub into the den and I will constantly add the tokens farmed with CAKE and BUSD while compounding the CUB for CUB earnings.
After only three hours, I farmed 22.29 CUB tokens and the price surged to $6.128, which makes it $136.6. At this rate I will earn back the deposit fee sooner than expected.
After half day, I farmed 66.429 CUB. This is valued at $730 which is a huge gain in only 12 hours. I don't feel sorry about the $200 paid for deposit fee. Long live this fearless cub!
How to add CUB token in Metamask (Trust, SafePal, etc)
Use BSCscan to find your wallet and track CUB in your wallet. Click on Cub token and copy the contract address. The token contract address is 0x50d809c74e0b8e49e7b4c65bb3109abe3ff4c1c1 but feel free to do your own research. If you are lazy and you trust me ... you can find it at: https://bscscan.com/token/0x50d809c74e0b8e49e7b4c65bb3109abe3ff4c1c1?a=0x4f49d938c3ad2437c52eb314f9bd7bdb7fa58da9
Go to your wallet and click on "Add Token" > Custom Token > Paste the Token Contract Address. The symbol and decimal will fill automatically. Now sit back and relax the crazy APY. Will not last for long as the project will raise the interest of the "big guns". Enjoy it as it lasts!
DeFi bounty at CakeDeFi with $30 DFI for new users