How to remove liquidity from a finished farm in CubFinance

in LeoFinance3 months ago

It was a surprise to see that the DEC/BUSD farm in CubFinance was finished so I decided to remove the liquidity tokens and unwrap them back into DEC tokens on Splinterlands. There is no point in leaving liquidity in a finished farm because you will not get any more rewards. To make things easier for people who haven't been paying attention, I decided to make a guide for people to learn about this process.

Instructions to unstake liquidity

The following instructions will tell you how to unstake the liquidity from a finished farm and unwrap the liquidity back to the underlying tokens.

  1. Go to finished farms and look for the pool you want to remove.

    image.png

  2. Although, I forgot to take a screenshot before I removed my liquidity, it is simple to remove the liquidity and you can see the - button above in red for one of my existing farms.

    image.png

  3. Click the Max button above to unstake all the liquidity and confirm the transaction.

    image.png

  4. Next, go to the Pancake Swap liquidity page to see your existing liquidity tokens. Click on the down arrow to see the details of your liquidity. If you click remove and confirm the transaction will give you back your underlying tokens (DEC and BUSD tokens in this case) in your BSC wallet.

    image.png

  5. (Optional) If you want to change BUSD into DEC or vice-versa, you can swap them on Pancake Swap. The token address for DEC is 0xE9D7023f2132D55cbd4Ee1f78273CB7a3e74F10A if you don't have the token on your wallet already.

    image.png

Instructions to move the DEC back to Splinterlands

The following instructions

  1. Log in to Splinterlands and click the DEC button at the top.

    image.png

  2. Enter the amount of DEC you want to transfer and choose Binance Smart Chain for the wallet option. Afterward, click on transfer in.
    image.png

  3. Click on the start transfer button and connect your Binance Smart Chain wallet. Approve the transactions that are asked.

    image.png

  4. Wait for everything to be processed. This took a few minutes until everything was processed correctly. When it is complete, you will get the below image having the transaction ids for your own reference and the DEC will be in your Splinterlands account.

    image.png

Conclusion

With this, people can remove their liquidity from a finished farm in CubFinance. Afterward, you can do what you want with the tokens and I decided to bring these tokens back into Splinterlands. I am not sure what I will do with these DEC tokens but my bag of DEC tokens has increased a lot since I put them in months ago during the SPS airdrop. However, I am leaning more towards improving my own deck because the ranked battles have been tough and I have been losing too much lately. So the best choice for me is to improve my Chaos Legion cards so they can help me more in my fights.

Did you invest in the DEC/BUSD pool on CubFinance? If so, have you removed your liquidity yet?

Please make sure to invest only what you can afford to lose and nothing I said is financial advice.

Feel free to leave a comment if you have any questions or feedback.

Posted Using LeoFinance Beta

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I must admit that I have been guilty in the past on other blockchains of not removing my liquidity from farms that have finished!
Great wee tutorial:)

Posted Using LeoFinance Beta

Thanks. I thought I would let people know about the finished farms because I don't think I have seen any announcement saying that they were done now.

Posted Using LeoFinance Beta

Yes it is also a good habit to get into and check them. I have not seen any announcements either.

Posted Using LeoFinance Beta

Your content has been voted as a part of Encouragement program. Keep up the good work!

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