Even before DeFi (decentralized finance) platform became popular, we had it on STEEM HIVE... Just for powering up your HIVE, you earn interest... If you curate posts, you get curation rewards on your staked HIVE... But, that's not DeFi... Well, we have a DLease platform where you can lend your HivePower for a limited time and get liquid HIVE... And we had all this almost from the creation of this chain...
But, times are changing, and new DeFi projects were born on other blockchains... I think that one of the first was COMPOUND and not so long after it, the world popular Uniswap on Ethereum blockchain... I would say that it was maybe the most important platform that added one huge use case that can be implemented on many blockchains... and it was like that, and today, we have Defi on BSC, MATIC, RUNE, AVAX, etc...
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Honestly, I think that I have jumped on a DeFi train a bit late... I was poking around the Compound.Finance platform where I have made a small supply of BAT tokens that I have earned back in the days... And, I have forgotten about it completely... lol... But, it still works there...
screenshot from the platform
Probably the biggest step that I made was when the LeoFinance team announced their first Defi 1.0 version with wrapped LEO on Uniswap... I have provided some liquidity in the wLEO:ETH pair and earned a nice amount of LEO rewards through their Geyser rewards program... As I was literally a liquidity provider from the first day, my rewards were getting bigger and bigger payment after payment...
When ETH transaction fees went through the roof it was time to move on to "cheaper" solutions... DeFi platforms have moved to other blockchains where transaction fees were more affordable and with them, it was time that the LeoFinance team move too... The CubFinance was born on the BSC (Binance Smart Chain) and with it, the new CUB tokens! In the first couple of months, I have decided to keep my wLEO on Uniswap and I have added more liquidity to the new platform, CUBDeFI.com
screenshot from the platform
As I didn't understand well the concept of CUN Kingdom, I have provided liquidity to the "standard" farms... My pick was 2 pairs, CUB-BUSD and CUB-BNB where I have started to build my stake... Somewhere in mid-2021, I have pulled out my wLEO and transferred to BLEO-BNB pair which has significantly raised my daily earnings on the platform... I had a number of CUBs that I want to earn daily, and I was working to reach my goal...
So, what's my next step? In November 2021, I have heard for the first time that the CubFinance team is working on the 3.0 DeFi version of their platform... It doesn't mean that the previous "generations" will be closed, but it just means that the next, superior DeFi mechanism will be implemented in the next version...
The new PolyCUBs will be created on Polygon (MATIC) blockchain, where transaction fees are even lower than on BSC, and the chain itself is more decentralized... Also, the new chain will potentially bring new users that CubFinance definitely deserves as it is very undervalued at this moment...
With interests of up to 175% in farms and up to 70% in Kingdoms, it is one of the best DeFi platforms out there... The third version, which will come out very soon will have some crazy APY in the first weeks and some great background mechanisms that should prevent platform native tokens to lose value... You can follow up posts on the @leofinance blog for more details about it...
Oh, yes... I have just noticed that I didn't answer my own question about my future moves... Somewhere in November, I had an idea to dive deep into Kingdoms and bring some of my "external" cryptocurrencies into the CUBDefi, such as DOT and ETH... But, after the announcement of Polycubs, I have started with my preparations for that part... In the last month two, I was stacking up MATIC, LEO and ETH just to be prepared for the upcoming release...
I'm proud to say that I have provided liquidity on Uniswap on Day 1, did the same on CUBDeFi, and it's time to do the same with PolyCUBs!
Thank you for your time,
ph1102
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Posted Using LeoFinance Beta
Cool history reminder my friend! It looks like we won't have to wait too long for PolyCUB. Unless CertiK keeps dragging the process, but Khal said in the AMA that once they start the audit, the process should be pretty smooth.
I think that audit is over and they have to fix some minor issues, which should be done "very soon" 😂 Anyways, I'm not doing any radical things with my current investments until Polycubs go live :)
I regret a bit that I didn't research more about Belt, but I think that it's not too late to do it even now... ;)
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They do have a ping-pong process right now. They have done the audit, but will update it based on this communication they have (and the fixes Leo team deploy).
You went into this Defi stuff in quite early. I love liquidity pools and things that are "simple" to understand. There are many projects out there that I simply don't get :-). I'm happy you are getting ready for Polycub (like that I don't need to study all this lol).
I was late for almost a year, but thanks for the encouragement... :) I was hesitating a lot because of my previous experiences with "projects run by people" and most of DeFi as much as they are on smart contracts, they are created by a person who isn't always positive minded... :)
But, seeing some familiar names from our own HIVE community, made me take the first move... Can't wait for Polycubs launch as I see that much great stuff has been implemented in other DeFi platforms... And LEO guys have more good stuff in their sleeves...
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I wish I could say I did similar. I have not checked my CUB in months.
I did not find the system user friendly at all for me personally 🙃
Maybe if I ever can find the time.
As you can tell, my friend, I am working hard on upping my daily comments.
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Understanding DeFi isn't an easy task and it requires time and lots of reading... But of course, it's not impossible to understand... And every day we have new things adding up!
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Indeed you did great and that step proves wise for you. As always I'm happy for you. News of defi everywhere. More positive things may happen soon. Good luck 💖💕❤️
DeFi is the present and the future! It gives us a choice to disconnect from the poisonous banking system...
I didn't really invest from day 1 but I may during the Polygon Day 1. I have built my entire CubDefi position from my earnings in LeoFinance so I am quite proud of it even if it doesn't net that much.
Posted Using LeoFinance Beta
The victory is sweetest when we achieve it with our "own 10 fingers"... I suppose that it's the same when we EARN crypto, reinvest it, and then earn on top of that... ;)
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Thanks for the tokens!
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