To BEE or not to BEE, this is the question and my answer was that I went nuts on it. After liquidating an investment that I've built from scratch - Torum XTM earnings - and cashing out over $2,500, I have decided to put all of those in a BEE Liquidity Pool on TribalDex. After paying some astronomous fees for my XTM tokens to withdraw from Torum, exchange on Uniswap, withdraw on Binance of around $250, I've ended up with my funds on Binance where I could buy 2,950 HIVE tokens with them. From there I moved them to Hive and converted 50% to HBD and BEE and added liquidity to this pool where I was already involved.
With the current position in the BEE:HBD Liquidity Pool I hold over 10% from the Liquidity, which I consider pretty strong. By adding new liquidity I've lost the consolidated daily bonus, but with the current holdings, I think it is good that I've done this sooner rather than later. The return looks like it decreased with the newly added liquidity, but still offers a good APR of about 80%. It remains for me from now on to harvest the rewards daily and to think to my next move.
I could use the BEE rewards to recoup some of my investment or double down on it. On the other side, I am thinking of launching a Hive outpost early next year, so I might use the tokens as a means of funding for that. For sure new doors are opening as I look forward and I need to do some math to see which is the best way to go with it.
Posted Using LeoFinance Beta
80% APR seems poor when you compare it with a similar liquidity pool that offers 160%
I think that adding a chunk of liquidity lowered the return. Probably same would have happened if I chose a different one.
Posted Using LeoFinance Beta
Split them up then? Greater returns in all.
Hi there! Where do you see this view of your liquidity pool position that shows you an Average APR?
I have money in a few pools on Tribaldex but can't find a view that shows me APR (I have to work it out myself!)
https://beeswap.dcity.io/swap?pools
Here, it's the same pools as Tribaldex. Just a different UI.
Ahhh super helpful - thanks so much!
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Solid move
!PIZZA
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Sweet! I have some sell orders on some MPATH tokens getting filled pretty soon and I think I know what I'm going to do with my new tokens after reading this. Thanks!
Posted Using LeoFinance Beta
Thanks - helpful post! I have money in the PIZZA liquidity pools but am seriously thinking about putting some in one of the BEE ones now - thanks for sharing!
!PIZZA
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