Hello everyone! Today I want to talk a bit about our Defi passive income strategy which we like to call our own money printer, lol! I mean, if they can do it, why can't we, right?
So with the rise of Defi starting last year, the world of finance got flipped on its head, again, lol. Except this time, we are really giving traditional finance a run for their money and they are getting worried. But that is a whole other subject for a whole other time, haha. Let's talk about how we are doing this!
First off, when the Defi craze started, it was all built on Ethereum, and we all know how that went... Gas fees went through the roof and really haven't come back down.
This led to the smaller investors like us out of the defi space entirely just about because we were paying more in fees than we were making trying to chase yields.
Along Came Binance Smart Chain
Then came in Binance Smart Chain and their 2nd layer solution for the gas fee problem. Now if you know anything about BSC, you will know that it is far from decentralized, but then again, how decentralized is Ethereum... again another conversation, another time...
But what BSC did was get the smaller investor back in the game! PancakeSwap really led the way, but there were some issues with the platform at the beginning, and fears of rug pulls because of an issue with the code.
Then there were forks like GooseFinance, which fixed the questionable code and spawned other forks from there.
The PancakeSwap/GooseFinance fork that we mainly use is CubFinance https://cubdefi.com by the @leofinance team! The reason we have nearly 10k invested in this platform is because of the team that is behind it. We trust them as they are a long working team in the Hive ecosystem that has built the awesome front end that I am currently writing this post on! They have really taken our little crypto world by storm and doing allot of things to bridge the gaps between 3 different blockchains, Hive, Ethereum with their WLEO token, and now bLEO on BSC and the CUB token!
They never stop with development and constantly come out with new updates when things start to come out. They are very transparent with what they are doing, which is another reason why we trust the platform here at Coin Logic.
So what we have done is invested into 4 of the farms...
CUB/BUSD
CUB/BNB
USDT/BUSD
DAI/BUSD
and we have currently 1 den which is the DOT den.
We are highly anticipating the Kingdom updates so that our DOT and BTCB can get put in there and not only earn CUB, but also stack more DOT and BTCB! (Can't hide the anticipation lol)!
What we have done is taken our initial investment, which we used a loan in stablecoins from our main crypto holding account on Nexo.io which allows us to use our crypto as collateral while also earning interest, we don't pay taxes on debt.
We take the loan and put it into CubFinance and then we use the rewards to further build the stake, as well as branch off and use house money to play on other platforms, like GooseFinance and currently chasing big yields on the latest BSC defi market, PantherSwap, because they offer pools that CubFinance does not like a BUSD pool. We use the other platforms and their native tokens and exchange them to earn more BUSD and BTCB and then taking those rewards and keep compounding then we send some back to Nexo to repay the original capital!
We kept allot of the original capital in stablecoin LP's, or liquidity pools, to keep our account stable. This is kind of our way of also taking early profits from the bull market. This way, when our holdings in Nexo rise up near the peak of this bull cycle, instead of selling or exchanging into stablecoins, we just repay the loan, which doesn't get taxed!
So don't sell, use it as collateral and repay the loans later on! That's how you beat the tax man! Cause yeah, screw that guy, lol.
So we have really already taken a nice chunk of profit during this cycle so far and have the profit making more profit! Thus we have created our own money printer and the money printer is going BRRRRRRRRRRR!!!!
Remember that no matter what platform you use, make sure it is safe. We are in the wild west and there are rugs being pulled all the time! That's why we mainly stick with the bigger investment in CubFinance... We know and trust the team! Goose is a reliable platform, and we are trying out Panther with about $500 worth of BUSD and BTCB in some pools to earn the crazy high APR that is happening now.
They also have some cool looking features that we are going to explore like a lottery. We haven't done allot of research on that part yet, but they explain everything well in the docs. So it's something we are checking out!
Be safe out there, do your own research, and don't get REKT!
https://coin-logic.com
https://hivehustlers.io/@coinlogic.online
@coinlogic.online
