From HIVE to CUB: which route to take?
I have a small power down running, which leaves me weekly with roughly the same amount in liquid Hive as I weekly gather in Hive Power as curation rewards. That way I can reinvest the curation rewards in other projects in the Hive ecosystem. This week's goal for the Hive was obvious: buy more CUB. Now I could go two routes with the HIVE. Move it to Hive-Engine, buy LEO, wrap the LEO in bLEO, sell the bLEO for CUB. Or I could move the HIVE to Binance, sell it for USDT, move the USDT to my MetaMask account on the Binance Smart Chain and exchange the USDT for CUB.
Which route to take?
As I had some Hive left over from last week's round, I had a little over 400 Hive. That would buy me this morning ~127 Leo on Hive-Engine. Wrapping that in bLEO costs a 1 LEO fee. And with ~126 bLEO I could buy ~27,6 CUB.
Moving the HIVE to Binance and selling it for USDT would leave me with ~156 USDT. Moving that to the Binance Smart Chain costs a negligible fee. And with ~156 USDT I could buy ~31,5 CUB.
Obviously, I choose the Binance-route and ended up with 31,8 CUB which I put in the CUB den.
Another possible route could perhaps have been to use the Hive-bridge to wHIVE, sell the wHIVE for wLEO, move the wLEO to bLEO and use that to buy CUB. As I'm not sure wHIVE is still active I did not investigate how much CUB that route would yield.
And perhaps there is an even more profitable route to turn HIVE into CUB. Anyone any ideas?
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Binance route seems to be with the best liquidity, hence cheaper. But you lost 15 minutes writing this post... During this time you could have started farming and harvesting cub. Still you are earlier to the party than most organists will ever be haha!
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O, I started farming two days ago. I guess you did too with your part of the airdrop. 😀
We, and the other organists on Hive, are the cryptorganists....
(could be true in another sense as well, if there are crypts which contain an organ 😂)
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Good for you! You go the extra mile to try to do research and understand how things work around here and what are the opportunities while most other organists just post their weekly contest entries and that's it. There is a reason why your LEO account alone is worth almost 40k USD.
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You're not doing bad yourself with over 46K Leo! And I have some additional 14K LEO invested in LBI and the WLEO-pool. I do go the extra mile because perhaps one day crypto in general and HIVE (and all it's affiliated projects) in particular it can be a serious source of income for me. That's the dream anyway.
And that all started some three years ago, when I signed up for a Steem account, after having read about it in one of your emails. I don't know how many of your subscribers followed you in your crypto steps. I do know that I did, and for that initial spark I'm in your debt.
So, here's to both our success in crypto land! Cheers!
So far @contrabourdon and @drugelis only are doing anything crypto related. @laputis too, of course. I've not been keeping these activities a secret but most people i talk to a out it just can't get their head around that money do grows on trees haha...
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I'm blessed to have @organduo and @partitura to follow in Hive, both as organists and crypto enthusiasts. I jump onto the train when you both do something. So thank you! I'm turning into a farmer...
Have more faith in long-term vision of this platform...
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Farming is good! Wish I had more funds available to FOMO into CUB...
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First I didn't believe that it is real... I was afraid to loose money on it... But now I see that it is real and my earnings are growing constantly...
Will you invest more?
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I plan to harvest cub that I have now. Perhaps I could buy more cubs...
The returns it generates will not be sustainable in the long run, but for now it's amazing to see about 3% a day....
If you want to buy more cub, wait till Monday. The mining rate will go from 2 cub per block to 1 on Monday, and that'll probably spark some panick sells, driving the price down.
Though, no guarantee... 😀
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Yes, price became quite low on Monday...
I choose also binance route
Since I have BNB on binance
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And binance makes it very easy to move an ERC20 token like USDT to their Smart Chain. That's also an advantage
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Very soon we'll have that bridge from ERC20 to BEP20 and then we'll be the new Binance.
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Yes, exciting times ahead!
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Your post is reblogged and upvoted by me. It is a good post. Thank you @partitura