Today the Creative Coin Fund renewed the distribution contract for the CCC:WIT liquidity pool. APR for liquidity providers is over 100 percent. If you have some liquid CCC or WIT sitting in your HE wallet...jump in!
Creative Coin banner by @derangedvisions
How are you providing over 100 percent APR?
Hi! Over $800 USD of Hive Engine tokens deposited in the contract, to be distributed daily for the next year. The APR will fluctuate based on the value of the tokens and the value of liquidity in the pool, but I do a decent job of keeping it over 100 percent by adding more tokens
OK ... you are someone I respect, and I have a bunch of WIT just sitting there ... so, how do I put it to work? Do I just stake it, or is there another step?
First, thank you. :) No, it isn't staking. You would add liquidity to the pool through BeeSwap or Tribaldex. You would need an equivalent amount of CCC. Have you ever used the liquidity pools before?
I have not -- this is all new to me!
I see. Well, you should be aware of the risks in participating in liquidity pools. You can lose a lot if the market shifts. I know you research things, so I'd recommend looking into 'impermanent loss in liquidity pools'. The risk is the reason for the high APR.
I do know about the risks and about impermanent loss. It just took me until this month to realize that providing liquidity is what keeps tokens tradable!
That's great to hear @cliffagreen, thanks for renewing the contract! I have most of my CCC and WIT from way-back-when in the pool, and it's great to get all those daily drips!
I reduced the Fund's shares, so you're back at 5 percent of the pool. Thank you and enjoy the drips!
That's a pretty high APR! I wish I had those tokens!
!BBH
That's a nice update.