Reef Finance (REEF) flipping value on PancakeSwap

By PVMihalache | Mind Puzzle | 15 Jan 2021


PancakeSwap I love you! This is by far the easiest to use and most profitable platform where to farm, stake and provide liquidity. Being on Binance Smart Chain adds up to the value, as the fees are a fraction of what I had to pay on Ethereum Chain. My first month using PancakeSwap was a success, farming 60 CAKE tokens and getting $1.50 from Liquidity Pools.  

When Reef Finance was added to Binance Launchpool, I embraced the project and farmed a nice amount of REEF before listing. Reef Finance will link many tools and projects in the Polkadot Ecosystem and I REEF becoming more than an utility tool.f8fbbfe2be562ead178690f23aaabde09acea6aedebcf8815d637ec293de805b.jpeg

I farmed 1179 REEF tokens until the listing and I sent them to my Metamask Smart-Chain, as BEP (BSC). The fee paid for the transfer was 10 REEF. ac40e86256b979af7ac3de05dfbbffef1e850118ac18ede257eacc877c794f28.jpeg

They arrived in less then five minutes, and I had to add them manually. The token contract address must be added as custom token.60fa784b0a2f62c61bb7f4295c15b2fde79eeaaf4e5346e6385c484942a9d2d3.png

Even if I would like REEF to multiply, I chose to add it in a CAKE farm, with Binance Coin (BNB) pairing. The fee paid to allow PancakeSwap to spend my REEF Tokens was $0.71, which will be covered once the CAKE farm starts generating CAKE tokens.dd57f949e292eaef965bec23ae1b68f2f7860d25bc62658da88d5d641c1d2889.png

This paring created 31 BNB/REEF Pool Tokens, and is the first time ever when I had more than 0.01% of the pool. 60dff82a07598d07f7b641d169db8f26200450428aa8d8bd603dc782ab8954b1.png

Another fee is required, to allow PancakeSwap to spend the REEF-BNB LP. The $0.97 will be paid only once, as once the LP is accepted will count for all future transactions. If the REEF-BNB LP is not staked in the Farming Pool, will earn REEF and Binance Coin, but once is staked, will farm CAKE.151d43820df38b5bc716ab7efdd86c98e3088c821be5904e1feb3d15478ad1d8.png

This pool generated a nice share of CAKE, therefore I decided to add another batch of REEF, what was farmed after the listing. I managed to sell some hundreds of REEF Tokens when the price was high, and bought three times more the next day. This simple trick increased my REEF stash.

                                   

I sent this new stash to Smart-Chain and added more REEF-BNB LP into the pool. I currently have 76.49 LP tokens, approximately 0.07% of the pool.86a50369321c73c915121a5fe6343625f61c5711195bf2083647b92cc2a3f2d1.png

All the CAKE farmed was added in the REEF pool, farming even more REEF for future LPs. Took 10 days to farm 58 CAKE tokens which farmed 160 REEF.800094aab0edbb5781de9c62bfc77bc9c3502bae49a98cdead4878c1004c475f.png

Meanwhile this vote happened, with new update and upgrades to the reward system. A set of coins had new weightings but most important, the BNB-CAKE will be upgraded from 30x to 40x. I voted YES.

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Residual Income:

PVMihalache Amazon Books

DeFi bounty at CakeDeFi with $30 DFI for new users

The fountains: PipeFlare ZCashGlobalHive ZCash  & Get.ZEN

Publishing bundle: Publish0xReadCashLBRY & Presearch

(Trophy cabinet under construction)

 

 

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PVMihalache
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