It was July 2020 when I "meet" Elrond and got amazed by the Adaptive State Sharding Mechanism, designed to bring a 1000-fold cumulative improvement in throughput and execution speed. To achieve it, Elrond made the Adaptive State Sharding mechanism and a Proof of Stake (PoS) algorithm work in synergy, enabling linear scalability with a reportedly fast, efficient, and secure consensus mechanism.
In September 2020, the Elrond economic model moved from ERD to EGLD and every 1000 Elrond (ERD) were shifted into 1 Elrond Good (EGLD). Elrond Gold (EGLD) has a subtle and profound new meaning, while the fine-tuning economic parameters can upgraded and reshape the global economic system. Elrond was my investment wild card, and I invested in them since July, than bought more after the transformation when the price was very low.
The Elrond Gold (EGLD) has become the most robust and universal store of value in existence based on fungibility, portability, durability and divisibility. Due to all the above attributes, the token is impossibility to be counterfeited. With low cost for global transfers via any communication channel, digital scarcity and infinite programmability, the Elrond Gold and the Elrond ecosystem makes the current Ethereum gas fees as an issue of the past.
The first global partnership for Elrond Network was with the Injective Protocol, oppening Elrond to new markets while giving Injective's users the opportunity to trade Elrond Gold, creating the first derivatives exchange to adopt Elrond derivatives.
Moving forward to present days, Pancake Swap added the Elrond Pool, where users can stake $CAKE to earn $ELGD.
This new pool made me to shift the balance of power on PancakeSwap, and to withdraw the CAKE staked for BTCST.
More shifting occurred as I decided to withdraw the CAKE-BNB LP, and stake all the CAKE to earn Elrond Gold.
The 36.80 CAKE-BNB LP Tokens were transformed back to CAKE and Binance Coin (BNB). This LP farmed hundreds of Cake Tokens but with the recent surge in price I fear a market correction and I want to avoid impairment losses. 234 CAKE and 7.15 BNB went back into my Metamask wallet.
Had to pay transaction fee, but that's the reason I love Binance Smart-Chain. I would gladly pay ten times more than what BSC asks!
Went all-in, staking 386 $CAKE into the EGLD Pool, at 49.53% APY.
Since the addition of the Elrond Pool, I farmed $7.44 Elrond.
DeFi bounty at CakeDeFi with $30 DFI for new users