thats probably how I cash out.
mfs on here were trying to talk me out of this...
3 CAKE
You're gonna need way more to see decent returns.
To farm you need an equal amount of the two coins. I just bought $1000 worth of FOR and matched that with $1000 BUSD. You add liquidity and it gives you Liquidity Pool (LP) tokens. Take that to the farm, approve the pair, and supply liquidity. Now just let it bubble.
Probably payed less than $1.50 in fees. If gas is $50 on Ethereum that's probably $300 I'd be paying.
If you want to farm at a low entry point use a BUSD pair but it's best to come with at least $1000 so you can go 500/500 on two coins. You already have $500 in BNB so you could just put $500 on a coin that's paired with BNB. Just be aware of impermanent loss.
32 a day? About 380 CAKE should get you over 3 a day so you'd need 3800 CAKE. If you got $40,000 sitting around to buy that much CAKE go for it
I'm pissed I didn't look into CAKE when it was under a dollar. That passive income would be ridiculous.
Fees are irrelevant on BSC. You're paying .18-40. I don't even look most of the time I just hit approve. Again staking such a small amount of CAKE is pointless. You might as well but 3 lottery tickets and hope you win something.
You'd want at least 100 and CAKE is too expensive for that.
Buy eth
Literally named the only two BSC coins I'm holding
You seem to be misunderstanding. I never said buy Fruitcake Coin. I just got done farming LTO and Zilliqa. I've bought BSC ALPHA, FIL, SFP, SXP... basically anything on Binance. The real solid projects on BSC like XVS, ALICE, and CTK are all on Binance. They're still building their ecosystem but the strength of BSC is in farming so that's what I go there for. Don't care about anything else.
When Ethereum has gas fees that are acceptable I'll farm there but that won't be until July at the earliest.
You're talking about fees in regards to holding, I'm talking about farming. You gotta make multiple transactions to approve smart contracts, supply/remove liquidity, harvest, etc.
It's at least 4 steps and pay that each time on a day gas is $180. On a good day it's $40-50. On BSC gas is consistently priced and all four steps will run you about $1-2 or even lower. Might cost me $1-2000 a week to farm on Ethereum making the amount of moves I make on BSC. I made like 8-10 transactions yesterday and never even looked at the fees. On Ethereum that's money gone down the drain that could've been used to make profits.
The reason Pancakeswap has passed Uniswap with a fraction of the projects listed is because of farming. Until L2 impacts farming it's not a factor for those after yield
Autofarm, Beefy Finance, Pancakebunny. I'd personally stay away from anything that doesn't at least have a Certik audit and a high TVL.
Defistation.io gives you a ranking of all BSC projects by TVL.
Literally named the only two BSC coins I'm holding
You seem to be misunderstanding. I never said buy Fruitcake Coin. I just got done farming LTO and Zilliqa. I've bought BSC ALPHA, FIL, SFP, SXP... basically anything on Binance. The real solid projects on BSC like XVS, ALICE, and CTK are all on Binance. They're still building their ecosystem but the strength of BSC is in farming so that's what I go there for. Don't care about anything else.
When Ethereum has gas fees that are acceptable I'll farm there but that won't be until July at the earliest.
You're talking about fees in regards to holding, I'm talking about farming. You gotta make multiple transactions to approve smart contracts, supply/remove liquidity, harvest, etc.
It's at least 4 steps and pay that each time on a day gas is $180. On a good day it's $40-50. On BSC gas is consistently priced and all four steps will run you about $1-2 or even lower. Might cost me $1-2000 a week to farm on Ethereum making the amount of moves I make on BSC. I made like 8-10 transactions yesterday and never even looked at the fees. On Ethereum that's money gone down the drain that could've been used to make profits.
The reason Pancakeswap has passed Uniswap with a fraction of the projects listed is because of farming. Until L2 impacts farming it's not a factor for those after yield
+1 for the Bankless podcast. Great resource for learning ins and outs of defi and the latest developments
The earlier you are the riskier it is, thus you're rewarded with higher rates. then as time goes on, the product matures, more people start using and rates get lower. But still way better than any bank can give you these daysUSDC is at 19%, dayum..
But of course it can change
