The introduction of decentralized finance has brought so many opportunities to the crypto world as projects seek to look into these areas to give their loyal users an opportunity to store and create wealth for themselves..
Also, your quick action when you discovered a new project or product in DeFi is important, especially if you are able to do your research and very sure of the team behind such a project.
In the early hour of yesterday, I stumbled upon the farming APY of Cub Finance at over 16,000% and delayed to entered not because I do not believe in the project after all have been on steemit since 2017 and I know who is @khaleelkazi but sometimes you are overwhelmed with other things and forget to carry out some things.
Here I am with liquidity provided!
Liquidity providing is what I enjoy in DeFi as it gives you an opportunity to farm more token with any additional fee on maintenance, you automatically become a "miner".
Cub Finance is an extension of the LeoFinance project and LeoFinance is a blockchain-based social finance community that has been building applications on a variety of platforms and blockchains since July 2019. This platform focuses mainly on finance and crypto content so be aware of what you are writing.... You can check it out leofinance.io
As at the time of writing this article, there are 12 active pools on Cub Finance Dapp and an interesting thing about is that it's on Binance Smart Chain which relieves you of high gas fee on your transaction.
Steps To Follow
- Get your BNB into your Web 3 wallet (Trust wallet, Metamask, or Binance Smart Chain Extension) If you have not registered on binance exchange you can do this in less than 5 minutes and purchase BNB.
- Connect your Web 3 wallet to https://cubdefi.com/ make sure your network is set to binance Smart Chain
- Swap BNB for CUB token (https://exchange.cubdefi.com/#/swap)
N.B: Liquidity providing required two digital assets. For example, if you have $276 worth of BNB in your wallet buy at least $130 of CUB token which is 1/2 ofBNB you are holding because you will need the remaining half when providing liquidity.
Add liquidity (https://exchange.cubdefi.com/#/pool)
Here you add the total CUB token you swapped and automatically you see BNB equivalent display and you confirm your transaction with less than $0.6 transaction fee. Liquidity provided comes with an LP token which you will use to farm more CUB for yourself.
Use LP received to farm CUB (https://cubdefi.com/farms)
I provided CUB-BNB liquidity therefore I am liable to CUB-BNB LP Pool which is 24X and 8,000+% as at the time of this article.
N.B: You have two confirmation to make here. First, approve confirmation, then submission of your LP token to start farming.
There you go!!!
Liquidity providers are making a lot of retunrs, you too can start with little and grow... Remember this is an opportunity to store and create wealth for yourself while is still early.
Take action but again do your own research.