Trying to Harvest SUSHI to FARM to Provide Bread for the People
About a week back, I had bought some $SUSHI as an experiment. The results were encouraging enough to continue my misadventures with yield farming in spite of sky rocketing Gas fee.
So after taking a short break of some days, I returned to market for some more shopping. I came across SHRIMP, TACOS, Spaghetti PASTA, KIMCHI etc.
All seems promising projects ...I mean, new and without any audited code. (You know, SUSHI got all its code audited today ...with at least 2 firms validating it by making their reports public. So it took away all the fun!😜). Umm... I think SHRIMP & HAM are already audited too ...so beware! 😛
Okay, I'd quote this meme from DegenSpartan
's tweet here:
So well, I got confused for what to buy with a very limited ETH left in my wallet. Honestly, the ETH I've is barely enough to pay for Gas fee I'll need to incur in retrieving my yield & pool tokens and cashing out. So how should I proceed to shop?
Well, I don't have so much time (& energy) to evaluate these many projects and compare their potential to find the best out of these. There seems to be a flood of new projects in DeFi space these days.
I've already earned more SUSHI tokens from my yield than I put in the Uniswap pool. So I decided to harvest my yield and stake them at Harvest.
Painting by Joseph-Marie Vien (1765), Remix by Fat Sam
Harvest is a cooperative farming society. It automatically farms the highest yield in DeFi. So I won't have to keep track of all new DeFi projects. But I think, they are distributing only 5% of the profit to FARM holders ...I need to check that again as that looks very low. But whatever that is, nothing bad in getting some free FARM tokens!
Harvest Finance's governance token FARM is already a day old now and its price has reached under $250 for the fist time. Whole market seems to be crashing down, so most prices seems very reasonable today. However, I don't have any money to invest in it. Therefore, I decided to harvest my SUSHI yield.
If you too are farming SUSHI then in my opinion, those SUSHI are sitting idle until the SushiSwap Exchange launches and you earn some share of trading fee. Since SUSHI token was voted up to be included in Staking at Harvest, you can just deposit your harvested SUSHI to earn some FARM rewards.
Not bad, na?...err, it only appears like that.
When I tried, I couldn't! I made 2 transactions to harvest my SUSHI but unfortunately both of them abruptly failed in want of more gas. I've wasted over $20 in failed transactions. I've always used the recommended Gas limit and input twice the auto-filled GWEI by Metamask wallet. Still, transactions failed.
May be, I'm feeling too sleepy at the moment and messed up a little. I should have put more gas ..and muster up some more courage for it.
May be, tomorrow. But I just wanted to share this as you guys can do it, if you don't want your SUSHI harvest to stink.
Happy FARMing!
That high gas fee keeps me away from this good opportunity
Perhaps I need more ज्ञान on this as to where to start if you have only a little piggy bank and very little money :(
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Oh, I can feel the pain. I'm in your shoes only but I'm just trying to rob my piggy bank of all it has ...lol!
By the way, did you get a chance to glance on Tips for Saving Some Gas fee on ETH (Part-1)? Was this of any help?
I need to write its second part soon. Thanks for reminding me of it!
Yes I did Ashu bhai I am glad you covered that topic and https://ethgasstation.info/ because no matter what token you transfer the gas charges are insane so I try to figure the lowest gas and sometimes even try different times of the day to find a spot of lower network congestion.
I think there used to be a tool for showing network congestion at different time of the day not able to remember that.
https://zapper.fi/ is my tool of choice too but I think I should leave a comment below your post for it.
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Thanks for your comment ..doesn't matter where you do that if I can find it :)
But I appreciate your gesture.
@tipu curate
Upvoted 👌 (Mana: 0/12)
Wow you got some "balls" to go on Harvest !
I wished I had done SUSHI instead of KIMCHI as I would have actually made money but at least I did not loose much on the KIMCHI side so overall, happy experience and I am addicted to these DEGEN farming strategies TBH.
I know I will probably end-up loosing it all but that is a risk I want to take 😂
Great article as usual my dear @xyzashu !
I am doing some Farming on DefiBox on EOS and it is a nice platform with low fees (except I had to set up back all my old EOS wallets xD)
At least, you got some healthy fermented food on your table. SUSHI had a very awful roller-coaster ride ahead :)
I don't have much idea about pools on DefiBOX. I wanted to buy some Vigor. No idea how is that performing these days. What tokens or pools would you recommend over there? (Looking for high risk, hgh gain proposals 😉)
DeFi Box is not the highest risk but this is basically investing in the equity of the platform. It gives 80-120% APR on the fees and 200%+ at the moment on the mined BOX Tokens (DAO, dividend tokens...)
But the good thing is almost no fees ! So you do not have to give half profit to ETH miners haha
WOW, 200% is very impressive! With my past experiences with EOS tokens, I was thinking that instead of investing in any token, I'd rather hold some EOS. But will look into the BOX now. Thanks for telling me.
Know of any DefiBOX cousin on Telos?
You will become the lord of yield farmer tokens. ;)
LOL! Yes, farmers feed the world, so they deserve to rule it too! 😃
Exactly, nothing bad to make a nice return.