I am testing RobiniaSwap - a new platform for pooling and farming! And since it is brand new it comes with very high APY/APR on your investments!

It is a common habit to open your store with giant discounts in order to bring new customers to the place already from day one. I have seen it when big grocery stores open, and also when shopping malls run crazy discounts all around the place during their opening week(end). But, this is also a phenomenon in the digital world, and it is frequently used on all sorts of cryptoplatforms.

One of the most hyped projects in the cryptoworld at the moment is OlympusDAO (OHM). They have seen a wild growth in the first half-year of existence, and their DAI-OHM trading pair is by far the most popular on Sushiswap. They have said themselves, that the high APY is meant to bring people closer to the platform, and the APY is expected to decrease with time.

robinia swap experiment.jpg

In the same way, other farms often come with extraordinary high APYs in the start, and then the numbers will decrease as more users get on board and the rewards are spread out to more people.

And that leads me to RobiniaSwap, a brand new platform that launched on October 1st. It is very similar to PancakeSwap, Sushiswap, PenguinFinance, and similar projects on other or on the same platform, but it is closely related to Steem and Blurt (and maybe Hive in the future as well) as the team has already produced several other tools for those platforms.

Getting in early... will I be rewarded for it?

So, I decided to try RobiniaSwap. I know that platforms like this run with a crazy high APY initially, and then both the APY and the rewards will decrease with time. That is why I jumped in early, and hopefully, I will be rewarded for it. Of course, there is a big risk jumping in on projects like this, but that is a risk I was willing/am willing to take.

What did I do?

I add $500 worth of BNB and $500 worth of RBS tokens to the BNB-RBS liquidity pool on PancakeSwap. I then added the LP tokens I received to the BNB-RBS farm on RobiniaSwap. According to their calculations, it should take me 14 days to have earned approximately $1000 worth of RBS tokens with this investment. And if I earned $1000 worth of RBS tokens in that period, I can also withdraw my LP tokens from the farm anytime and thus get my initial LP pool investment back.

Currently, the APY for the BNB-RBS pool is about 3000%.

liquidity.jpg

Of course, if the RBS price should dump a lot, it might be that I get 700 RBS tokens in 15 days, but if they are no longer worth $1.4 per token, but $0.5, then I haven't reached my $1000 investment yet. And if the RBS price really dumps and I want to withdraw my tokens from the liquidity pool, I will not receive the same amount of BNB and RBS in return, but way more RBS tokens (that will be less worth), and fewer BNB tokens. That is a part of the beauty and the risk here.

But, I am curious to see how this will progress and I will for sure keep my investment for 30 days and write a little update then. YOu can also learn more about RobiniaSwap in the following article: https://www.ipaddressguide.org/what-is-robiniaswap-is-it-worth-using/

You can find the RobiniaSwap website at https://robiniaswap.com/.

The platform is running on Binance Smart Chain, making sure that transactions are very cheap and very quick. As a result, you can harvest, stake, trade, add liquidity, remove liquidity and so much more for only a few pennies per transaction (which is very different from similar transactions on Ethereum).

Have you tried the platform? Have you gotten any questions? I would love to hear from you!

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