1 Week In DeFi

By Cryptoft | My DeFi Journey | 21 Mar 2022


1 week in to my DeFi foray and time to take stock. After my impulsive decision Tuesday to sell the DEC I was holding for the Splinterlands airdrop and put it into Cubdefi instead I haven't looked at anything.

First let's look at Quickswap where I invested into 2 farms last Sunday.

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Looking at the BIOS-MATIC pool there is some value loss as last week my liquidity deposits were showing at $38 but we are not worried about this, crypto is volatile. The APY has also dropped but we have still earned 0.0043 dQUICK which is worth £1.06 which is a decent return in 1 week. 

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The VOLT-MATIC farm looks better, the value of my liquidity deposits has not changed and I have also earned 0.0065 dQUICK which is worth £1.61. I am very happy with the performance of this pool and will be leaving it another week.

Total dQUICK earned this week from my investments in Quickswap 0.0108 valued at £2.67 which is a pretty decent return considering my total investment a week ago was £54.31. Just under 5% interest in a week, I am a little worried about the value of the BIOS-MATIC pool but maybe it can recover by next week. Spent roughly £0.03 on fees to withdraw my dQUICK from the pools and have left this in the QUICK-dQUICK farm

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The other investment I made was in CubDefi, this was made on Tuesday so has only been in 5 days.

My whole investment was put into the CUB-BNB farm to farm CUB tokens at Cubdefi and Polycub tokens from the airdrop.

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I have earned 13.393 CUB tokens valued at £2.50. I'm not going to withdraw these CUB tokens due to higher fees on the BNB chain as I do not believe I could earn the fees back in a week.

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I have earned 4.076 POLYCUB tokens valued at £2.32, for a total reward in 5 days of £4.82 from an investment of £182.12. Over a week this is roughly a 3.5% return which is pretty decent. My liquidity value has also increased and I feel this is a much more stable farm than the ones at Quickswap.

I have spent a little on fees to withdraw the POLYCUB and enable the xPOLYCUB farm and deposit my POLYCUB earned into the xPOLYCUB farm. 

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The APY looks really good in this pool.

So far I am quite impressed with dipping my toes into DeFi farming. I am not putting anymore into DeFi this week as I do not have FIAT to invest and I still want to autocompound my staking tokens I have. 

I think I do need to start looking at converting some more of my crypto into DeFi farming in the future though so this week I think I will try and build some assets through play to earn to increase my investments.

Check back next Sunday for my next update.

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