Fantom DeFi #1 - Earning on Beethoven-X with Statera (wSTA)

By PVMihalache | Mind Puzzle | 8 Mar 2022

Lots of questions about earning opportunities since Statera ($STA) was added as a tipping token on Publish0x. Fantom, Statera, Wrapped Statera and Beethoven-X are not DeFi not Mambo-Jumbo ... all those crypto terms are the best method to make your hard earned $STA tokens work passively and bring residual income.


If you are not using Fantom, you should give it a try! Fantom is not a real block-chain, but a Directed Acyclic Graph-based smart contract platform with 3 blockchains. The DAG system used by Fantom doesn't centralize all the power on a single decentralized ledger, creating a "decentralized, permissionless and open source, high performance, scalable, customizable and secure platform for smart contracts, designed to overcome the limitations of previous generation blockchains."


I know about Statera since 2020 but much changed since then. Even so, the integration of $STA as tipping token made me think about ways to make lazy crypto work in my favor. This wasn't a priority but made it happen after I seen the P0x Statera competition that invited users to buy $WSTA on the Fantom Network via Beethoven-x for $WSTA rewards. The one who bought the most will get $300 in WSTA, while the second prize is $100 in WSTA. Game on #P0xBros 


So I went to Beethoven-X to check what tokens I can swap for some $wSTA. I had some crypto stuff in there and I was ready to make a purchase. 


I wanted to win a prize at the P0x competition but I didn't want to invest too much. I considered $110 as a fair amount and decided to swap 0.041 wETH for 968 sWTA.


What a big difference compared to Ethereum, as $0.03 transaction fee on Fantom will rival SmartBCH and Binance Smart-Chain. I become an wSTA holder and the next step was to put it to work!


The Fresh Statera Maxi Duet pool had over half million USD in locked value and 436% APY. Have you seen 80%-20% LPs before? This type of LPs are less affected by impermanent losses because one of the assets has a bigger share, meaning less volatility inside the pool.


I invested my wSTA bag and according to the preview, the potential weekly yield will be 9.61 USD. Please not the $0.02 transaction fee and you will understand why FANTOM is currently trending. 


I thought about it and I really wanted to win one of the P0x prizes, so I bought more! Not a whale but I decided to spend all the wETH and buy more wSTA. The juicy APY will bring some profit anyway so I consider this a good investment. I added 3.629 WSTA in the Fresh Statera Maxi Duet just because it's cool! 


Upon checking the weekend gains, I must announce that this gamble was very productive. I farmed 16.9 $BEETS in 48 hours, approximately 13 USD! Good return for the staked amount and a good use of the Statera tokens I will earn through Publish0x


Residual Income:


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