Finally Joined DEC-BUSD pool to farm CUB with APR Over 250%
I started my DeFi journey with Cub Finance last week with DENS and this week I started with farms. I must admit that Dens is easy to use but this farming requires various steps. It may be easy for the people who have done it already but being a newbie in Defi this process quite a long time to get it done.
I am slightly late to join the DEC-BUSD pool but finally, I did it and here I am sharing the steps I followed.
I play splinterlands every day and have over 100k DEC tokens across the game and exchanges.
So first I moved all my tokens to the game account and its very easy. I left some DEC in the Hive engine as I buy packs using these tokens.
In next the step, I head over to https://cubdefi.com/farms and selected the DEC-BUSD LP option. Here my balance is showing as I have 140500 DEC and 101.5 BUSD. Since I am going to provide liquidity so I must have both in my wallet and I have more DEC value as compared to BUSD, so I will use all my BUSD and whatever it will pick accordingly.
I approved the contract for DEC and BUSD both as to its a first-time requirement. It cost some fee in the form of BNB. Please note that cubdefi is based on BSC (Binance smart chain) all such fees would be paid by BNB coin only so its mandatory to have BNB in your wallet.
This fee is not so high and this is the advantage of BSC while with ETH its quite high.
I approved for DEC already and now its turn for BUSD as shown below-
Now I am all set to supply and proceed with the option to farm.
It down the pool details before confirmation of the transaction and in my case here are the details. I used all my 101.5 BUSD and an equivalent amount in DEC is 125529 so gone ahead with this amount.
I submitted the transaction and it got approved in seconds.
So here are the final details of my LP tokens in the DEC-BUSD pool.
I want to earn more CUB through the coins that are kept idle and now I am earning for doing nothing. It's a nice way to earn because I can earn CUB for just depositing my DEC and BUSD. Currently, the APR is over 250%, and its huge.
Banks in India pay interest of 6% approx on deposits and here I am getting 250% so there is no scope for comparison. This APR might reduce if more people join the pool but I am sure it will be much more than what banks offer so I am more than happy to put my money here.
I have staked all my BUSD but I have left with DEC so I am trying to arrange some more BUSD so that I can increase my stake in the pool and it will help me earn more CUB.
CUB price is down these days but that is not the concern because I am not going to sell it and my goal is to accumulate as much as I can accumulate. I want to have at least 100 CUB and for that, I am trying to increase my stake in DENS and also in DEC pools so that I can farm more CUB.
I have just joined the pool so I will keep on reviewing my farming and will share further updated about it next week. Dens are going great so far and I hope that this will be the same as that.
Thank you so much.
Keep farming ...
hello @ alokkumar121 ,
It is interesting that all over the world they are learning how to invest in a simple and fun way, it is a good APR and you are right that if the % return of capital goes down you as an investor will still get a higher % than the % paid by the banks.
Thanks for this information.
At least you are going to have fun yield farming this token.
Yes defi is very interested , and it's a kind of passive income if you have spare token with you can just earn without doing anything.
I will be msg you as I have to learn this concept.