DeFi and Staking on DEX's?

Natas

Natas

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Not seeing much (anything) about DeFi here. Anybody else DeFi-ing? I am loving Pancake Swap and Pancake Bunny Finance and Beefy Finance ATM.
 
Sorta I guess. Bought on a dex, but think the staking is a built in contract. Not bad for doing nothing...making a couple bucks a day

I've been meaning to set up my own coin though in order to experiment with defi contracts. I've got about ~5 machines I can set up nodes so should in theory work.
 
been playing around today, relative noob when it comes to DeFi, but some things just make my spidey sense tingle:

- most are built on ETH blockchain and the gas fees at some point today meant losing 50% of my capital just to make a deposit :eek:
- not a fan at all of proprietary blockchains like BSC which also have some popular DeFi options
- a huge number of staking options don't offer a high yield, if I wanted under 10% there are much less risky (centralized) options out there
- insane yield in a token nobody cares about is just ... insane
- having even a small portion of funds locked away (i.e. cannot be withdrawn) ... no thanks
- learned a new term: impermanent loss ... GTFO!

while I'm sort of on the topic, I also checked out Bisq ... what a pathetic user experience that was, back to the warm safe bosom of centralized exchanges for me thanks

if anyone is making decent, consistent, relatively safe yields in DeFi I'd love to know the specifics unless you reckon it's a secret you just can't share
 
NarrowBandFtw said:
- most are built on ETH blockchain and the gas fees at some point today meant losing 50% of my capital just to make a deposit
Click to expand...
That's kinda why I want to use my own coin (it'll be the most worthless of all shtcoins!) for experiments...no point in paying gas etc if you can just create your own coins & gas and then once trainwheel phase is done move it to live.

Safe yields at 10%+...don't think they exist in this game.

Also had a look at liquidity mining...but couldn't get the numbers to work based on my number crunching. The binance fees eat the bounties offered and then some so don't quite understand why people do it
 
NarrowBandFtw said:
been playing around today, relative noob when it comes to DeFi, but some things just make my spidey sense tingle:

- most are built on ETH blockchain and the gas fees at some point today meant losing 50% of my capital just to make a deposit :eek:
- not a fan at all of proprietary blockchains like BSC which also have some popular DeFi options
- a huge number of staking options don't offer a high yield, if I wanted under 10% there are much less risky (centralized) options out there
- insane yield in a token nobody cares about is just ... insane
- having even a small portion of funds locked away (i.e. cannot be withdrawn) ... no thanks
- learned a new term: impermanent loss ... GTFO!

while I'm sort of on the topic, I also checked out Bisq ... what a pathetic user experience that was, back to the warm safe bosom of centralized exchanges for me thanks

if anyone is making decent, consistent, relatively safe yields in DeFi I'd love to know the specifics unless you reckon it's a secret you just can't share
Click to expand...
I hear you.

Eth gas fees have apparently come down but I am mostly into the stuff on BSC. Much easier to use and cheaper that Eth network even after fee reduction.

Staking on Pancakebunny and making very nice returns on solid coins, or at least what I believe to be solid coins (pancake and pancakebunny). I bought a fair amount of Cake a while back and staking them on a combination of solid sh1tcoins and not so solid ones I hope will moon at some point.

Have transferred about a third of my portfolio to Defi. Am earning more cake, bunny and earning ~30% on my BNB.

I think cake will go to USD100 soon and I think pancakebunny (currently USD400) will increase by at least 50% when it is listed on Binance. They have invested in the company (https://techcrunch.com/2021/04/12/b...startup-mound-the-developer-of-pancake-bunny/) but the coin isn't listed on their exchange. Pancakebunny's TVL has grown from USD3 Billion to over USD7 in the last two weeks.
 
Hi guys, im late to the party i think , but i have 1000 dollars to put in to pool or farm or stake, i really dont know where to start, its very confusing .
I have watched videos but i am still NOT understanding the AMM concept which is what i want to use...

So you connect your metamask wallet for example and then u transfer ETH in to what ? i dont understand that part.... so say if i was on yfi finance or earn or (well there are so many i dont know the most user friendly and reputable platforms - suhi swap pancake swap etc... )
The way i understand it , is u need to txfer the eth to 1 place(1 address?) and then the engine does the whole auto balance and earn for you ? This is what i am not understanding, there are all these different cakes or tokens or sweets or sushi token names inside these platforms? how do u tell "whatever it is" to go ahead and use your ETH to start earning.. ? Like what is the central address or point of location to send to on the platform ?
like if i sent ETH to one of the tokens of the 10 or whatever the amount of coins/tokens are on the platform.... then how is this auto load balancing? i dont get it...

Sorry, i hope this makes sense
 
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ichocolate said:
So you connect your metamask wallet for example and then u transfer ETH in to what ? i dont understand that part.... so say if i was on yfi finance or earn or (well there are so many i dont know the most user friendly and reputable platforms - suhi swap pancake swap etc... )
Click to expand...
some of the most popular (popular might mean reputable, sort of) ones these days are Yearn, Uniswap, Sushi

with Yearn at least you connect your wallet and then a "deposit" option becomes available when you browse the different vaults and what not, you enter an amount, hit deposit and metamask takes over for your confirmation i.e. you don't need to manually enter a destination address (keep an eye on the gas fee though, it was quite a shock for me)

others will know more, I've only played around a little bit, but I assume most platforms would work roughly the same as Yearn
 
ichocolate said:
Hi guys, im late to the party i think , but i have 1000 dollars to put in to pool or farm or stake, i really dont know where to start, its very confusing .
I have watched videos but i am still NOT understanding the AMM concept which is what i want to use...

So you connect your metamask wallet for example and then u transfer ETH in to what ? i dont understand that part.... so say if i was on yfi finance or earn or (well there are so many i dont know the most user friendly and reputable platforms - suhi swap pancake swap etc... )
The way i understand it , is u need to txfer the eth to 1 place(1 address?) and then the engine does the whole auto balance and earn for you ? This is what i am not understanding, there are all these different cakes or tokens or sweets or sushi token names inside these platforms? how do u tell "whatever it is" to go ahead and use your ETH to start earning.. ? Like what is the central address or point of location to send to on the platform ?
like if i sent ETH to one of the tokens of the 10 or whatever the amount of coins/tokens are on the platform.... then how is this auto load balancing? i dont get it...

Sorry, i hope this makes sense
Click to expand...

Unless you're a whale, ETH Defi is too expensive at the moment until they get gas fees reduced significantly or successfully implement L2 scaling solutions. Currently, you're going to spend from 20$-50$ per transaction.

I'd personally recommend PancakeSwap on BSC if you want to dip your toes in it.
Fees are minimal + huge amounts of liquidity.
TVL of 10B USD which is currently greater than Uniswap + Sushiswap combined.

Trying to keep it simple so will use $CAKE on PancakeSwap as an example. There are two ways to earn yields. By being a LP (Liquidity provider) or Staking. LP's are abit more complicated and you need to account for various risk factors such as Impermanent Loss etc. unless you want to read it up, just stick to staking.

Basically swap some of your tokens for some $Cake, stake them and earn some good yields. Pancake recently added a auto-compounding feature as well.

Ofcourse, these yields are attractive as long as Cake's value remain so.

1619860512399.png
 
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Some good plays: Safermoon (people who read whitepapers will understand why safermoon is better than safemoon as well as seeing the market cap and current price of this time. ) as it is still early and then more legit projects from Justin Sun. Then some more long term stuff life vechain and solana. Maybe even Tacocat. If you came early in the game with Cake, then congrats! Some people are making moer baie geld from cake.

Defi BSC coins are the new video game. The game where you have to make sure you don't get rugpulled. Majority of them are rugpulls or will cease to exist. Not being bearish, some legit ones just don't get proper traction and others are scams. The legit ones will make life much cool with their use cases. It will take a few months for really proper coins to rise out. At the moment BSC is like a minefield, so buyers beware. You could step on a digital casino play with a memecoin like dogefather or get rugged by a coin like bshiba on BSC. HIgh reward, even greater levels of getting rekt.

Not giving any financial advice. Just take everything I wrote as fiction.
 
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