Venus SXP

Binance Launchpool - Swipe SXP / Venus XVS my journey so far, part 1


Over the last month I've dived into Binance a bit more using the Liquid pool and before staking in the XVS pool I'd also dipped my toes into the WING pool. Admittedly I took a loss on the WING pool, looking back I made a fatal mistake of falling for the high APY and purchased ONT to stake, it wasn't vast amounts to worry about but enough for me to be extra cautious. 

I already had bought some SXP previously to get myself a bit more cashback using my Swipe card (if it ever turns up). If you haven't yet seen (Medium article) they now only offer Saffron & Slate, so that killed my idea of going for the Sky or higher. Anyway just to give context on why I had SXP to stake, I did buy more additional SXP as well when I saw it dip down to just over £1 recently.

So onward to SXP / XVS pool...
Since day 1 I staked around 1000 SXP and saw the XVS amount up each day in my account to around 14 XVS before finishing up for the day on Monday night.

This morning, I was ready and eager to check XVS, I'd accumulated more overnight with 16.99XVS in total. I had mistakenly thought XVS was due to go live (listed) at 7am rather than 6am being the correct time.

6:58am
My XVS was at £79.91, I decide to hold and see how things would play out a little longer while making breakfast. 
c9f98bbc6a1324346751e662986c2a3c514a674e45fb96083a412dfbb38850d1.jpeg

7:33am
I decided to move away from the motion that somehow XVS would climb again and sold my XVS for BNB amounting to £67.84 I believe around £4.30 per XVS.

9dfca061dff97ae4125a78912302b5a587dbdf36a506dff8f435f48bf007472d.jpeg

Soon after having the BNB I then decided SXP was low again and bought as much with that BNB and staked back into the pool, I have my reasons to keep the SXP and will see if it plays off. 

So now my tactic each hour (while awake!) is to check the SXP / XVS pool and claim my XVS and sell straight away for BUSD. Which since this morning is ranging from £0.27 to £0.38 each hour, not much but enough for me to keep an eye each hour and now it seems to have settled a bit more. *If anyone has any tips on why I shouldn't do this or better method let me know please. Main concern is retaining the value once sold.*

At the time of writing this there's still 22 Days and 5hrs remaining until the farming ends and 234% APY with my SXP stake at 1112.

I'll do another post to see how things go further down the line.

 

----
Binance:
Signup and get 10% commission kickback.

Youhodler:
Earn up to 12% APY with a savings account.

Coinbase Earn invites:
Earn up to $20 COMP / Earn up to $50 EOSEarn up to $50 XLM / Earn up to $46 XLM

LBRY TV:
Earn some LBRY while you watch videos.

How do you rate this article?

12


usedname
usedname

Blockchain & Tech.


Zero-Days without blockchain
Zero-Days without blockchain

Interests in anything related to blockchain, crypto and bringing decentralised services to the masses.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.