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.

1*iNEf2Fdi1d6sWF_8WjcMeg.png

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."

Fantom-1.png

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 

db08da07403a7e1f537575c5004e98b350bbec0a8bba42cd9b31c791552e53ad.png

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. 

0d1ade8b83898825e69a48222f45c6fe41ad376d858a0d24118cb72112c71645.png

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.

28c7bae60a4e39ec8a7d139d8a303a94061652bb7c263059fc161fb4994365b8.png

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!

b2a8122fb068ad1bc1f287549fea97891eb804a1f39be8b26368e61b42503652.png

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.

96d211f2358d519896164525f54bc7cd69c7e0abd03a020937b41286398f4eba.png

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. 

df13585da62d06e8d2f87f889a5f3b2d23faa41b3ecea4e2f05796d40be4211f.png

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! 

8454b7fc880bf715eb8d0f44b4ae97e32672a4ca81b9d5860268b7061acf734a.png

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

caee8b7a0ca38c2ce1007bd3e8552e8b471517a5276a71c3ef93bc2195d769fc.png

Residual Income:

Join Crypto.com

Torum essence - Be part of the future!

Join Splinterlands!

PVMihalache Amazon Books

DeFi bounty at CakeDeFi with $30 DFI for new users

The fountains: PipeFlare ZCashGlobalHive ZCash & Get.ZEN

Publishing bundle: Publish0x,  readcashnoisecashLBRY & Presearch

4029272aab259f9df7f0d091512e70c36bc451edd86dfb4caaf3a805c7e346dd.jpg

How do you rate this article?


140

1

PVMihalache
PVMihalache Verified Member

Content Creator ✍️ Humble Farmer 🚜 Meme Lord 🐸 UMAster 🐔 Bronze Owl 🦉 CRE8R 🧱


Mind Puzzle
Mind Puzzle

Think! ... it's still free! An amalgam of cryptocurrency, science, arts, news and other manifestations of human intellectual will be published on this blog. Sometimes I will add my personal opinions or midnight revelations

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.