Small stake in LEO until now
Although, by now, I've been picking up my writing routine quite well. The months before this last week, I've been absent writing on Leofinance (as well as on Hive), therefore my earnings in LEO were paused for a while. I've been sitting on a Leo stake of around 170 LEO for quite some time now. These were earned by writing about some of my crypto journeys so far. But when everything seemed a bit on hold (my writing flow was gone), I also didn't see my stake grow because the curation earnings are very low.
In an attempt to up these earnings a bit, I recently started following @taskmaster4450le's vote because I've noticed he's a valuable content creator, and I was told he curates manually. I hate following trails that just vote something to vote, and prefer following someone that actually does it manually.
I may be able to earn a bit more on Leofinance from curation by creating a second account that's only voting LEO content, because I'm aware of the fact that most of my votes go to other trails currently. I will seriously consider changing this to up my curation earnings as well. Then comes the next question, do I only vote on that account, or will I also publish my finance related content on that account? Some things to think about for later, but let's now see what step I took to up my earnings in the near future.
A fabulous idea crossed my feed
She already discussed her plans with me in Discord as well, but when I read @hetty-rowan's post about it, I was sold and thought that it might work for me too. She will obviously see her rewards grow faster, as she has a much bigger stake in LEO, but nevertheless, I wanted to do some math to see if it could work with a smaller stake as well. In the end, it's still never certain, but I'm up for the challenge. Let's see how this works out short and longer term. I may adapt strategy along the way, or not.
Daily curation rewards
I don't have a script to read this but I've been counting my curation in LEO for a while on random days, always coming to the conclusion that it's on average probably around 0.1 LEO a week. Do the math!
I picked 24th of April for this example:
0.043 curation rewards from LEO finance x $ 0.65 (at the time of this writing) = $0.02795 / day. So basically, the only thing that needs to be done is doubling that at least. Everything more is a plus, of course, because the more farmed earnings, the better.
Below you can see how much $CUB per $1000 you will farm:
The farming earnings will be in $CUB, but the idea is, to farm this and build a LEO stake with these earnings. So I will be swapping the CUB back to LEO at some point. Depending on how it goes, I will probably first wait until all 4 powerdowns are actively farming $CUB in the bLEO/BNB pool, and give it at least a month time to see what the farming earnings are in a month.
LEO to bLEO
I realized that I never made this swap before and suddenly panicked thinking that I'd have to jump through crazy hoops to swap my powerdown LEO tokens for bLEO on the Binance Smart Chain. Thankfully, the documentation at CubDefi is awesome and super clear, even for someone that makes a transaction for the first time, my compliments on that part team @leofinance! This is an absolute must onboarding crypto newbies, as it will give them confidence to be able to understand the steps.
The website that makes it all possible to swap LEO to bLEO and vice versa is: this one. It all speaks for itself honestly. Go to:
Enter BSC wallet address, then fill in how much LEO you want to send. I send my powerdown amount: 45.14 LEO
The pop up mentions that this will cost me 1 LEO transaction fee, and shows the amount of bLEO I will receive in my wallet: (costs: $0.65)
If you agree, confirm with Keychain, super easy!
Now go to your MetaMask wallet and add this contract to the tokens to see your bLEO:
Click next, and there they were already. This couldn't be faster or easier if you ask me!
This is how they are show in your wallet. If you can't see them, make sure you're not accidentally connected to the normal Ethereum chain, instead of Binance Smart Chain :)
Time to set up the farm!
First, head back over to CubDefi. I'm going to add liquidity to the bLEO/BNB pool and before I can start farming, I have to do some transactions. It may seem overwhelming the first time, but I promise you that you'll fly through it the second time!
My first step was to make sure I had enough BNB in my wallet to match the value in bLEO tokens.
Today LEO is worth $ 0.65 so that’s roughly $ 30 I need to swap from BUSD to BNB.
Adding liquidity to the farm
I first approved the contract bLEO/BNB by clicking on the blue button.
To add the liquidity, click here
For this farm, I first selected bLEO (as I want the full amount of that to be in the farm) and as the second BNB to match the bLEO value added. You can also do this the other way around, of course.
Now click on approve bLEO
And confirm supply:
Almost done! Go to the farm and press stake Max amount. There's a value calculated BLEO-BNB LP which will be used to calculate your share in the pool. Your share can change depending on other people's share in the pool. If someone pulls liquidity or adds it, your share changes.
Confirm, and wait for a bit until you can see a button that says harvest. Depending on how big your share is, you may not see any amount for a while there, but give it some time. You will see the amount of CUB tokens you farmed, and the value with the current price as well.
Let the farming begin!
Starting from April 26 2.30 PM I'm farming in the bLEO/BNB pool. A few hours later, I noticed I had already farmed more than a day's worth of curation, so if you ask me I made a good decision, even with my tiny bit of LEO..
If you want to check your current value in the farm, go to This website, connect your wallet and fill in master chef address: 0x227e79C83065edB8B954848c46ca50b96CB33E16
I expected this to be about 60 bucks but I probably miscalculated something, making me realize that I also forgot to write down the 2% fee. To not complicate it too much I took $ 52.48 x 1.02 = $ 53.53
Unlike on the ETH chain, the BSC fees are very low. Even compared to the low fees on ETH since a couple of days. That's one of the reasons I love BSC! To not fool myself and thinking I earned more than I actually did, here's the sum of the fees I paid to start farming. Next time there will be a few steps less, so that's even better!
A grand total of $ 1,41 Not bad if you ask me!
I will not be harvesting anytime soon to make this as profitable as possible. Most-likely, I will just add liquidity next week after powerdown 2 arrives as then it will automatically harvest my farmed CUBS as well. I still haven't checked if that means that I pay double transaction fees because it also harvests, anyone that knows this? I'd think I'm saving one time transaction costs, but to be fair, I don't know if that's really true.
Update will follow next week to compare the rewards and add more liquidity.
Thanks for stopping by!
Farm on :)
Posted Using LeoFinance Beta