DeFi: WHAT DID I DO WRONG THE LAST TIME?

Polycub is making a lot of buzz around the leofinance community since its launch and it is almost impossible to ignore the subject (and those insane APYs). So in today's post, I want to share my DeFi (cubfinance) experience and how I fumbled my bags the last time and what I hope to do differently this time.

When I first heard about polycub I was a bit indifferent given my previous experience with cubfinance. I had fomo'ed into DeFi and got burnt mainly due to a partnership I had with a friend to invest. That turned out to be the worst decision I made last year. We did not have a contract and when hive went up a week after he had invested he wanted his money back and I had to cover the loss. I totally gave up on the project after the price of cub plummeted.

This time, I would be using my money. Although i spoke to a friend who seems interested in investing and sharing profit. I will make such to be very explicit about my terms, highlighting the risks and benefits if he so chooses to invest. On my part, i would be putting together some capital for the next 2-3months. I figured this is better than simping around for some jpegs.

The other mistake i made was being too shortsighted and nervous when the price of cub started to plummet. I guess all the stories i had heard about defi projects being rugged got into my head and I forgot about Leofinance track record. So i got out early. I did not lose money in cub (directly). My only mistake was getting into a bad business deal with a friend who wasn't patient. We both would have been smiling to the bank now.

WHY I AM GETTING INTO POLYCUB?

I figured getting into DeFi would be a good way to grow my leo stake. I have been powering up all the leo token i have earned for the last 5-6 months, and it's really slow growing your stake this way. I hope to have about 10,000 leo by the end of 2021 and that certainly won't come from creating content and curating.

I am making this transition from being a content creator to investing in crypto and making that my primary source of income. I would like to put the pen down a little and focus on other things like my career, so having multiple income streams at this point is the only way to go.

BUYING MATIC and pleo

I have been playing around polycub lately, getting to understand the process of buying and staking on this new chain. I noticed a lot of people were buying Matic from hive-engine but when I compared the price with that of binance, I decided to do business on the latter. It took about a few minutes to convert my hive to BUSD and then to matic which I transferred to my wallet.

Polycub is not as intuitive as cubfinance on Binance Smart Chain, but I have been able to figure my way around it. I bought and staked some polycub. I was also able to swap leo for wleo using https://wleo.io/polygon. I will be farming pleo-wmatic. That seems like the safest route for me.

So far, my little experiment has gone well and I look forward to seeing how things unfold in the coming weeks.

Kindly take out time to vote and leave a comment on why you think polycub should be listed on Blockfolio

CONTACT AND SUPPORT

Discord: nonsowrites#0031
Twitter: iAM__NONSO
Telegram: @nonsowrites
BSC: 0x88B30Cfe2cC50c84A673E7e0befF6b865D362E01
Bitcoin: bc1qprsj8vk576nev278ymqnxuc67vredaz0wjxymp
Barter

Posted Using LeoFinance ^Beta