What do you guys think of this Cake DeFi thing? I keep seeing ads for it on Brave. Anybody use it? Good, Bad, Ugly?
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What do you guys think of this Cake DeFi thing? I keep seeing ads for it on Brave. Anybody use it? Good, Bad, Ugly?
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I think @kevinnag58 might have ideas about it since he had some bad experience with Pancake. But I don't know since I haven't done it personally. I might be confusing the Harvest and Pancake though so lets wait for his response.
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I started using Pancake Swap about a month ago. At first there were no problems. You see, I was just using Pancake to mint the liquidity tokens then move them to invest in Harvest Finance vaults.
10 days ago or so Pancake went from v1 to v2 which required mass migration of their internal liquidity pools but was not to effect in any way external pools like I hold/held.
2 days ago I tried on numerous occasions to create more liquidity tokens on Pancake to add to my positions. Pancake would create the liquidity token but not transmit them to my wallet. Luckily, I was able to back out of all of them (losing the fees of course) but one. Now I either have to write that one off (lucky again that it was only a small add of $50 or so), or, deal with an administrator on Telegram as they have no dedicated service center.
Bottom line, when it worked it was fine...but...since the migration to v2 it sucks.
In my opinion, in this order, these are better choices: Cub; Goose Finance.
Good luck to you in which ever path you choose.
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Thanks. Brave seems to know what I'm into! Cub was too difficult for me to get into, even though Sarge offered to help. By that point I was burnt out of reading and viewing incomplete tutorials and decided to give it a pass. I realized that just because someone knows about a subject, doesn't mean they can explain it well to a new person.
It was odd. Many of the tutorials would begin in the middle, others would cover the very beginning and then halt. Nothing was comprehensive and step by step. After a week of trying to learn Cub Finance, I finally gave up.
I'll never forget the last video I tried to watch. Right off the bat, he starts in the middle using all kinds of industry jargon. He was talking to his crypto friends, but had labled the video as being for beginners. Experts talking to experts. I clicked away and never went back.
They couldn't seem to think like a NEW person. Don't assume we know what you're talking about. Step by step. Screenshot each one, think "Cub for Dummies." These guys would always skip over some crucial part and I'm shouting at my screen "wait, you left out the next step!" lol
I'd be reading and taking notes, like "Ok, I got steps 1, 2 and 3 so far, good, I'm with you, got it." Then they'd jump to step 7 and I'm like "wait, what?" lol! So frustrating. :)
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I ain't chasing waterfalls. Been there done that. Just sticking with what I got right now. Some say it is good to diversify, hedging your bets.
Since I am not involved with the Cake thing except through CUB with the pancake swap if that is the same thing.
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Ahhh... I like that phrase. I'm not sure if it is the same, but they're hitting me hard with the ads, so wondered if anybody was in it.
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My view is that I have no reason to move away from CubFinance.
The returns might be better elsewhere but it isnt worth the risk. With Cub, I know there is not going to be a rug pull and if something does happen, they will resolve it.
From what I am reading, that is not the case elsewhere.
To me, that sense of security is very valuable.
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It sure is. I saw your comment earlier about doubling down on Hive and investing here as opposed to being distracted and spread thin by outside forces.
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I will like to hear people's responses because I am thinking of buying some cake. I think I heard someone talk about a potential airdrop or something. Not too sure. I also checked their site. It is very robust.
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There's been talk of a CAKE drop for some time now but I've seen no movement toward fruition. Nonetheless, I do hold some CAKE and have it staked on Goose earning 256.54% CAKE/GUSD. Staking CAKE on Pancake only earns 91.17%.
Nice day to day price movement yesterday. Plus give a look at the price chart up and up.
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yeah, i saw an upward movement and I think I want to wait out a little before buying a couple in the market. thanks for the information.
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It's very colorful. I wondered if it might be easier to learn than Cub, which was a complete fiasco.
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