I made the plunge into CubDefi! After staking some little bit of CUB into the CUB Den, I went deeper into the whole system with the help of @edicted.
After learning about the yields from the farms, like the one with the highest APR, I went in pretty hard in these early days to get the most of out it. Cub Defi will most likely become pretty popular, and I mean outside of Leo Finance and Hive.
When more people get in on the action the APR will get slashed up and earnings will be cut big time. Also the reduction in the inflation rate will hit the earnings hard too, so getting in early is optimal.
Yes, you read the title right, I dumped $30,000 USD into a Cub Defi farm. I sold me ETH to do so.
But wait, isn't that risky, you might ask? True, maybe things won't work out. Maybe ETH will go up faster than CUB will. Maybe I won't be able to buy back into ETH without taking a loss.
But maybe things will work out the way I see it too. Cub Defi will boom, CUB token will be on fire, and I will have multiplied my original $30k into who knows what. I expect CUB to go up faster in orders of magnitude than ETH will in a given timeframe, say 6 months to a year.
But hey, maybe I'm wrong, and I will get rekt. Tune in to find out later this year ;) LOL.
The whole thing was a bit complicated, but for anyone looking to do similar, here is a brief rundown.
1- You need to get your ETH (or other token), onto the BSC (Binance Side Chain - i.e. Binance fork of Ethereum). For ETH, you can just Deposit it to Binance, then Withdraw the ETH to the BSC address in MetaMask for example.
If you have another token, don't just transfer it to BSC, as you might null it. To find out if you can simply transfer your token to BSC, a good place to start is to look up if it exists on BSC here: https://bscscan.com/tokens
You might need to exchange your token for another like ETH, BTCB, BUSD, etc. before sending it to BSC.
2- Once your tokens are on BSC, you can access them on Cub Defi through MetaMask. Add the token smart contract in MetaMask to see it in your wallet. Depending on what you want to do, farm or den, you need to get the token required to stake.
3- Go to the Cub Defi exchange and trade your token for whatever you need. In my case I did a farm for CUB-BUSD. So I spent 50% of my ETH to buy CUB, and the other 50% 5o buy BUSD (you need equal USD value of both tokens for whatever farm you want). Then I went to the Liquidity page to buy some CUB-BUSD LP with my CUB and BUSD.
4- Stake you LP into a farm and reap the earnings.
That's it. You can read about how to connect MetaMask to BSC in the docs page and then pick up from there to get into a den or farm.
Of course, I'm no expert, make up your own mind on what you want to do. I'm just sharing what I did.
Have fun! May your future be fruitful with Cub Finance! Peace.