Defi Exploration by a noob : My full trust on Cubdefi platform.
When it come to the crypto ,there are so many opportunities to explore to earn in crypto. You can be a miner and mine the coin but it look to me a very sophisticated process and will require to ta care of mining rigs.
Proof of stake is another way of earning but you need to "have a stake" to get rewards and I feel initial investment here is also an hindrance.
Play2earn is another rewarding concept but time consuming and investing in NFT is more of speculation.
I find Hive most attractive with DPoS (Delegated roof of Stake) and where I can earn by publishing my content and interacting with other users and offcourse staking my Hive to generate curation rewards.
So when it comes to Defi, it insane APR always look a very attractive but only question is "Are they safe to invest ?"
when you read about the amount that investor lost in rug pull at 2021 , then it amount to staggering 2.8 billion Dollars. and it simply mean going in at any Defi platform need to be thoroughly analyzed and investigated. Project like Defi 100 and SQUID are very vivid in my memory.
Red flags for me in Defi/Crypto Projects.
This is not particular about Defi but it comes with my overall experience in the crypto journey and few of thing I feel really matter in any crypto project.
1. Anonymous team.
Anonymous team hidden behind a "website" with some animated pic of the team/developer that no one know about them, never interacted with them and nobody knows how "capable" or "expert" the team is. All the claims are written in their website and there is no way to interact with team and understand it's intention and expertise.
2. Excessive Shilling and great telegram drama.
You see a telegram channel where you find "moderators" and "shillers" all day with 0 technical knowledge and they have to go back to "developer" for any technical question. All you find is "when lambo" and "we will become rich soon" propoganda. (I joined many telegrams at 2018 ICO and not to find them after 3 months.
3. No use case
Most importantly, either there is no use case apart from token and no clear roadmap about the team vision. Everything come with "future promise" and no "past development" to back with it.
Why I feel trusted in Cub Defi.
When I see Leofinance team, I got all my fear vanished that I said above. Team is doing the weekly AMA (in video) and keep posting regular updates so at least it is not the anonymous team.
Everything and all updates are clearly written and in blockchain (not like some kicked user and deleted messages in telegram channel) so we clearly know what are the team vision and where team want to heading out.
Team has already delivered by creating a one of the most valuable tribe token, Development history that can be traced back to more then 2.5 years and bridges to the ETH and BNB chain to expand their project and have a clear roadmap to expand in other chains and ultimately giving value to all the tokens associated with it.
Is investing in Cub defi profitable?
I will not going to explain this in detail but I will like to suggest to read this article, directly by team to take decision yourself.
I want more cub so that I get more Polycub.
Since team is going tp launch Polycub soon, so I am deciding to get more cub so that I get more Polycub as a part of airdrop.
Autocompounding : Stake and forget.
I love the Cub Kingdom where I staked my cub that get got Auto compounded daily and currently getting 33% APY and I feel this is most stable choice for me considering it my start of exploration of the defi field.
Hope you have liked it, please feel free to upvote, reblog and comment.
Posted Using LeoFinance Beta
For a newbie, to identify the difference between genuine and bogus project is really a challenge. The factors that you identified though not a guarantee, but somehow provides a good check list in choosing a project. That I think is the benefit of your more than four years of experience in crypto space.
Posted using LeoFinance Mobile
One of the biggest advantage /disadvantage is non reversible transactions and one should be utmost careful before sending money or investing in any project.
Posted Using LeoFinance Beta
Pleased that I know the team behind cubdefi. Makes the project feel more honest
Posted Using LeoFinance Beta
Same here, Leofinance team is very active and communicative, let see what 2022 bring.
Posted Using LeoFinance Beta
I'm feeling that sense of excitement that comes with a new project.
Auto compounding is especially something i'm finding increasingly compelling!
!1UP
Posted Using LeoFinance Beta
I am also waiting for the same and keeping some funds liquid so to take part in pleo liquidity pool.
Auto compounding is really nice and save fees too.
Posted Using LeoFinance Beta
There's many ways to earn in Crypto currency. What you need to do is time. Once you get the time,you can min crypto or stake it.
Posted Using LeoFinance Beta
Yeah, there is many ways to earn but if one is not pating attention then there are many ways to lose the money too. So invest the mney very carefully.
Posted Using LeoFinance Beta
That's true
Posted Using LeoFinance Beta
I started reading about CUB and it’s awesomeness, but I don’t know how to stake yet, I am gradually assimilating every word/context.
Posted using LeoFinance Mobile
You need to go to the https://cubdefi.com/kingdoms and there you will see the option of depositing cub in cubdefi platform. Remember, Cub is in BSC/BNB chain.
Posted Using LeoFinance Beta
Thank you very much!
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