I decided to dive into Swamp Finance earlier today, on the shill of some well-known FACES on Hive.
Swamp Finance is a 'Yield Farming optimiser for the Binance Smart Chain - kind of like 'autofarm' (which kind of feels a bit like 'back in the day' already!
If you're familiar with PanCake or Cub Defi, using Swamp Finance is the same drill - you connect with your Metamask wallet, peruse the various pools and vaults, do your approvals and then add liquidity and stake.
But unlike Cub or Pancake, Swamp integrates with numerous Defi platforms, and you get a higher yield staking through Swamp (and you earn in Swamp) compared to staking direct to those platforms.
I opted for an SXP-BUSD pool, with PandaYield - I did a quick check and it's Certik certified, so I thought it was OK to risk something. I haven't put too much in though! Gently Gently!
This was quite handy for me as I recently pulled my SXP-RUNE stake on BEP, fearing that my Rune would get drained - but pairing the SXP with BUSD is fine by me - I don't mind too much what I end up with more of on either side of the pair.
It's not a bad return on Swamp - around 250% APY ATM, that'll do, and I'm now earning me some Swamp!
But I feel more comfortable on Cub
Swamp Finance directed me to Panda Yield to supply my LP tokens - and I had one of those 'do I trust this?' moments, naturally!
I have no idea who is behind Panda Yield, or Swamp for that matter, I'm literally just doing this for the higher returns on a token (SXP) that would otherwise be just sitting there earning nothing.
I had thought to stake some USDC-BUSD to diversify my stables out of the DAI-BUSD pool on Cub, but instead I went into the BUSD-USDT pool on Cub, because I prefer the security of knowing the team behind Cub Defi, something I can't say about Swamp or Panda Yield.
So I'm happy to diversify out of Cub a little, but this whole experience had reminded me how important it is to me to be able to KNOW the people behind a project - and I have that with Cub, which is why I'm happy to have more than 90% of my DEFI money staked through this platform!
And it supports LEO of course, and thus Hive!
Posted Using LeoFinance Beta
I dumped a bunch more funds into CUB too. I now have more invested in CUB than I ever would have imagined thanks to some other really good investments. I am pretty excited to see how CUB does long term. I agree with you about it just feeling safer.
Posted Using LeoFinance Beta
It's great to be able to put names and faces to the project for sure, glad to hear you're more into Cub!
Yeah, I am loving it now! Just want to see that price go up! I am excited for Kingdoms.
Trust is really what makes and breaks every crypto platform out there imho. So I think you're making a sensible choice here by taking that heavily into account for your decisions! :)
Posted Using LeoFinance Beta
Hey cheers, and diversifying across pools of course!
APY looks much better on Cubdefi than any of these defi finance websites. I like Cubdefi, pancake and julswap.
APY is fantastic on Cub you're right! Never heard of julswap I might have to check it out!
Julswap is like uniswap on Binance