Everyone is overjoyed that we can earn BAT tokens here on Publish0x.
But we mostly don't realise that we also earn DAI here.
DAI is a stable coin that is pegged to the US dollar. This means that the coin is able to keep it's price of $1 most of the time. It does appreciate and depreciate, sometimes costing $0.99 or $1.01, but most of the time, it is worth exactly one dollar.
This means that if you have earned one DAI on this platform, you have essentially earned 1 US Dollar.
The thing is, what do you do with your earned DAI?
You can't trade any pairs with DAI on Binance. Neither is it smart to convert it to ETH, because we don't earn so much of it on here.
So what do we do with our earned DAI?
Luckily, I have a solution to this problem. We invest it.
"Sure Sherlock!" you say. "Let's invest $1 or $2 worth of DAI and actually expect returns".
Hear me out.
We will be using a service known as Compound. Compound is a De-Fi lending and borrowing platform, where users of the platform can lend out their tokens to other users or borrow tokens from other users. This process is trust less, and is carried out by, you guessed it, smart contracts.
The borrowers of course have to provide a collateral before borrowing the assets(probably why it's called multi-collateral DAI). This collateral is usually more than the amount of the token borrowed, so there aren't any funny actors involved.
It's really simple, what we're doing.
We wait for our DAI tokens to accumulate to about $2 before sending them over to compound. You can either just keep using the platform normally until you get your tokens, or convert your HYDRO or BAT tokens to DAI using the DEx in Trust wallet.
Once you have this amount of DAI, send it over to compound. The interest rate there is 5% or higher at times, so instead of just hodling your DAI tokens without warning any interest, you can earn interest on your tokens while you hold them.
This is basically the definition of free money earning you interest, and if you keep incrementing your holdings every time you get paid by Publish0x, you'd see a spike in your earnings in no time.
I recommend converting your BAT tokens to DAI so that they can earn interest, and then buying back your BAT tokens when BAT dips. This way, you earned interest on your BAT before you removed it from your holdings. So your earned interest now earns you interest. Sweet!
Thanks for reading.