The Story of a DeFi Investment


It all started two weeks ago when I read an article titled Defi Projects, Passive Income Sources, and More. The most important thing I learned from the article was that the concept of DeFi has become popular recently. With so much attention being paid to the matter, Defi had to have a tempting side.

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As a result of my half-day research, I learned that DeFi means decentralized finance, and I had an idea of the main DeFi operations. Although I had been a banker for many years, I did not grasp all aspects of the issue. I decided to do a trial using a small amount, as high APR attracted me. It would have been more appropriate to experiment with the Cub Finance mentioned in the article because the article's author, whose opinion I trusted, expressed her faith in the project. Although I didn't understand anything about Farms, Dens, and Kingdoms on the https://cubdefi.com/ site, the tiger and the creature it was holding were cute.

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Then, after a little tampering, I found out that the Kingdoms option has not yet been activated. There are single financial assets under the Dens option and multiple financial assets under the Farms option. Since I had no experience in the subject, it seemed more appropriate for me to start with a single cryptocurrency instrument. In single cryptocurrency investments, you stake a specific cryptocurrency and earn CUB regularly in return. Among the currencies that could be staked were BTC, ETH, DOT, and CUB. I chose the CUB option because the deposit fee was not requested, and 150% APR was estimated. It was time to open an account on the site and get CUBs. My excitement was at its peak.

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The Ethereum ecosystem has a cryptocurrency wallet called Metamask. I installed Metamask, a browser plugin, and converted it into BNB (Binance Coin) wallet with minor settings changes. You can take advantage of this guide on how to perform the procedure. Cub cryptocurrency is part of the Binance ecosystem, and it is bought and sold on this exchange. Later I bought BNB through https://www.binance.com/en and sent it to my MetaMask BNB wallet. I matched my wallet at cubdefi.com address to MetaMask. I then converted BNBs to CUB using the Trade tab and staked CUBSs through the Dens tab. I felt like the picture below when I saw the first CUB crumb reflected in my account.

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After observing my humble Cub investment results for a while, I looked at the binary investment instruments on the Farms menu, called LP (Liquidity Pool). Because its APR was even more than 200%, I chose the CUB-BUSD LP, the most preferred option. I obtained this financial asset by swapping the BNB sent from Binance on the site in a similar way. Liquidity pools have coins of equal monetary amount from the two currencies. I created the CUB-BUSD LP currency with the Add liquidity option and staked it on the Farm tab. It's been 3-4 days since I did this procedure. At the moment, I'm in a good mood, my CUBs are regularly reflected in my account, and the price of the CUB has been stable, but you never know what will happen.

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Finally, I want to point out that Cub Finance is a Leo Finance Project. For more information about the Cub, Finance Project can be reached via https://docs.cubdefi.com/.

This is not investment advice, and I am not an investment expert. My goal was to share my experience of a recent investment. I recommend that you make your financial decisions considering the possible risks and returns.

It's time to say goodbye; thanks for reading.

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Image Source: https://cubdefi.com/ and Bitmoji App

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MURAT K. BEŞİROĞLU
MURAT K. BEŞİROĞLU

Turkish Sci-fi Writer


muratkbesiroglu
muratkbesiroglu

Sci-fi, tech, future

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