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A Year Ago
This time last year, I was showing my friends how wild the returns were on the farms for a new DeFi product called Cub Finance. I had put around $1,000 in (a lot of money for an unemployed college kid) and was in awe as I had doubled it within a few days of having invested. The price of CUB was up huge and I was bringing in more money an hour than I ever had in my life.
Then I basically sold it all and walked away with a little satisfaction as the price came down, giving me the false belief that I made the right decision.
The mistake that I made back then was so clear, yet so difficult to come to terms to when investing in cryptocurrency projects:
I was more worried about dollar value than the project's long term success.
Though the price of CUB still hasn't reached those monumental highs from the beginning, keeping the investment parked over the course of a year and continually earning farming and den rewards would have had me in a better place now than I was then. After withdrawing I spent that money on dumb things like drinks and parties and now I have none of that initial investment left after the year went by.
The mistake that I want to stop making this time around is just as easy to fix as it is to identify:
I need patience.
PolyCub
Not only did I miss out on the CUB that would have been generated over a year (at APR's still around 100% in even the least lucrative farms), but I also did not position myself to benefit from the PolyCub airdrop.
It was a bit of a stretch to think that Polycub would be trading for large sums while CUB still trades for around 40 cents, but even at a ratio of 1:1 you're essentially doubling your money with this airdrop (I know it doesn't quite work like that, but it is a sizeable chunk).
By just holding onto what I had in the past, I would have been in a great position to profit from PolyCub and reap some big gains from the airdrop and subsequent staking.
Moving Forward
Rather than viewing it as a sob story or a regret, I am owning this situation. I made some poor decisions last year, but have learned quite a bit about what could happen if you are patient with a strong project. This time, I have put what I was able to into Cub Finance and Polycub and will be slowly adding more over the next year rather than looking for a 2x and cash out like I did a year ago.
I don't know if PolyCub will end up having the same success as Cub Finance, but it's worth the risk in my book (DYOR). I will be holding on and watching the PolyCub come in even if the short term price heads towards the valuation of a stick of gum, because I really believe that this will pay off long term. I love the xPolyCub system and am interested to see how this kind of innovation plays out on the DeFi front.
Typically when people are doing something that nobody else is doing, it is the start of a great innovation (or a flop, but you can never make it if you don't give it a shot!). I am excited to see where this goes and look forward to growing with the community over the next year!
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Posted Using LeoFinance Beta
I think the best thing to do when new platforms are released is to take some profit. Obviously whether or not things last long term is hard to say but selling a bit of the profit allows you to buy back in cheaper later if you wish. At least that is going to be one of my plans when the new CUB platform goes live and I go yield farming.
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Agreed in theory, but difficult to time. I haven't put a life changing amount in here, so I am going to let it ride and simply do the opposite of my last yield farming experience
Yea I don't plan on risking too much but if I throw in a bit from Hive, I can live with that. After all, getting to learn the system is also a great thing to do.
Posted Using LeoFinance Beta
CUB is at its lowest right now. Someone tanked the price a few hours ago!
If you can buy more, then do it and get more from the airdrop. ✌️🔥 I just threw in a hundred dollars more into the CUB Kingdom.
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Phewwwwwwww. You're making me debate getting groceries for this next week
LMAO. Don't do that mate. 😂😂
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You right, I will see what I can put together though, a small buy may be in order
Yes bro. Tiny bits of CUB make a mighty LION 🦁 All the best.
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there's two button. A green and a Red.. buy when it's been red
Yes Bear. That's the one. 🤑
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Please what interphase is this .. its looking like binance...
Must be some exchange where CUB is listed. I got the screenshot from LEO's discord. Will get back to you on this!
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If you sold it all while CUB was still over a buck, I think you made the right call. Wish I had done that. Even with the high APRs, I have only finally made back my initial investment. But I did miss the super insane APR of the first few days as I was trying to figure out how to get in, and that was when a lot of people were making these crazy amounts. And instead of taking out, I was just compounding.
The smart move would probably have been to get out before it fell below a buck (before it fell below $4 maybe), then buy back in when it fell to a half dollar, where it settled for several months. But, as they say, hindsight is 20/20.
Anyway, let's enjoy repeating the fun all over again with Polycub!
Posted Using LeoFinance Beta
I hit big the first few days, but didn't stick with it. I think a good strategy would be to reduce risk by putting profits into stablecoin farms, something that I plan on doing after the 60 day locking period here. If I could predict exit points with great accuracy, I would be floating on the tide of an island right now LOL, Holding and diversification will be my move here.
I have been trying to do some research on PolyCub for a little while now, but when I went to set it up, I ended up having issues linking my metamask wallet as well as my BSC wallet. Anyone else have these issues? Or is it just me?
Also, great post! Gives me some insight on what the future of polycub will bring.
Hey, what were the issues you encountered? I'd point you over to @khaleelkazi and the Discord chat for difficult issues, but I'll see if I can help you out
@rob23 it is honestly when I click the metamask link to connect the wallet. Nothing happens lol. Thank you for the upvote / like thingie. Its hard to get those it seems lol. I tried on Chrome, Metamask, Hive, Samsung Internet. Maybe its because im on mobile.
seems like it is doing the same thing again...
It may be, but I am not LOL
Yes lol
Lessons learnt, doing better next. Nice to see that.
Thank you!
Ha ha… I invested $2,000 BNB into Cub when the price was $14, $12, $11, $10, $7 …. $3…. I put into the Den and BNB / Cub Farm and let it sit there for one year….. I now have $43 worth of Cub. So I think you did ok.
I remember cashing out some at the top there and thinking it would only go up LOL, I understand where you're coming from here. Hopefully we will be able to zoom out one day and know that good decisions were actually made afterall
Lucky you…… this is what the Zoom out looks like for me.
However, if I sell today I have a nice $2,000 Capital loss I can use to offset the incredible gains I made on Bitcoin, Luna and Blurt.
very timely post. :) I am just hearing all about CUB and am checking it out..
There's tons of potential in the project!
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I bought CUB last year leaving me at loss because I bought it when the price was soaring nearly $3...I was in FOMO. Until now I am holding it and staking in cubdefi.com.
Nevertheless, I am thankful that I received PolyCUB airdrop...but I can't actually claim it. Don't know why.
IS ANYONE ABLE TO USE THIS TODAY OR ANYTHING WITH MATIC MY MM AND MATIC HAVENT WORKED IN 2 DAYS NOW I BOUGHT INTO POLYCUB AND STAKED MATIC FOR NOTHING SOMEONE HELP ETHJS QUERY ERROR :(
Posted Using LeoFinance Beta
I noticed this on the Polygon Wallet this morning.
"Deposits are disabled temporarily. Our best minds are working on resolving the issue. All the deposits in transit are safe." https://wallet.polygon.technology/bridge
I am guessing this is the problem. Hopefully they get it fixed soon :(
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Well I threw $1000 into cub on day one and it was worth $137 at the poly airdrop lol. I staked in den/kingdom for a year but I never did any farming. So while I get your point, you didn't miss much unless you really know how to move this stuff around like a genious. Letting it sit did nothing for me per say.
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Thanks, that is a great consideration when participating in Polycub. I hope I don't just think of the $ value.
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Shiiiiii. You my friend are a baller! Lol, I don’t even have the balls to do this.
dem parties doh ;p
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PolyCUB has different mechanics and those that are involved now and HODL should be rewarded in the long run. Let's see how this plays out!
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