Well this update is earlier than expected, after taking a small step into DeFi on sunday I have today decided to add to my DeFi portfolio.
The main reason is I had 80,000 DEC I was holding on my wallet from Splinterlands. This was earning me just over 6 SPS tokens a day from the airdrop, or just under 50 pence a day. We are now 2/3rds of the way through the Splinterlands airdrop with 134 days left. I have accumulated 950 SPS tokens staked and decided to get out of my DEC position while the airdrop is still ongoing as I believe the price will drop as the airdrop comes closer to the end as people will exit their positions and I think I can make similar returns with DeFi, we will see.
None of this is financial advice, you need to do your own research and make your own decisions regarding investments, this is purely educational content.
I Traded the DEC on PancakeSwap for BNB and managed to get 0.65 BNB for my tokens which is valued at £182.12 at current prices.
I have decided this time to go with CubFinance on the BNB chain as I want to diversify and not hold everything in this experiment on the same DEX or blockchain.
The main reason I chose Cubfinance is the current airdrop of Polycub tokens that is ongoing.
I traded 0.32 of my BNB to CUB on Pancakeswap, which should leave enough BNB to cover fees.
I have then added this CUB and the matching amount of BNB to the CUB/BNB liquidity pool on pancakeswap.
Finally I have gone over to Cubdefi.com and deposited these LP tokens into the CUB/BNB farm.
After all that is done I have 0.008 BNB left in my wallet which may cover a few fees in the future.
So after my impulse decision today to sell my DEC and invest more into DeFi this is where I currently stand.
Quickswap. Invested £54.31 split evenly between VOLT/MATIC and BIOS/MATIC farms
CubDefi. Invested £182.12 all in on the CUB/BNB farm
Total invested £236.43
Current value of DeFi portfolio £236.43 (probably a little less due to fees and volatility of assets, will do a proper valuation on my next update)