Harvest finance binance12/17/2023 ![]() This was also pretty quick.īTW, at this point, I'm showing $1,082 in my Binance Chain Wallet - which means I've lost about $40 in fees and net price fluctations so far.įinally, I can buy the following on Pancakeswap.finance :Ī note on BUSD - a binance US dollar pegged stablecoin I then sent those BNB to my Binance Chain Wallet to pay for gas transactions on Pancakeswap. I then converted Eth to BNB on and got 0.189 BNB. I forgot about this so I had to go in to, send myself about $100 worth of Eth I had in another wallet (0.0417 Eth to be precise) and swap that into BNB. To be able to use pancakeswap, I needed BNB in order to pay for gas. Next, I needed to buy an equal amount of EPS and BNB over on pancakeswap.finance. I've now got 0.019 BTCB in my Binance Chain wallet (a browser extension that you can install on Brave or Chrome). I then transferred 0.019 BTC over to BTCB (wrapped BTC on the Binance chain) using the Binance Bridge (you basically send in BTC and they give you BTCB). So $1,010 is the original cost basis for this project. Ultimately, I had to buy Bitcoin on Cash app, and then using a bridging tool to move that BTC over to a Binance wallet. Coinbase doesn't seem to offer credit card options in Europe (unless you have a 3D secure card ). It was a nightmare getting cash converted into BNB. To do that, I first need to buy EPS and BNB on pancakeswap.Ĭonverting from fiat to BNB (actually first I went to BTC) To get into this pool, I first need to put EPS and BNB tokens in the EPS-BNB pool on Pancakeswap (binance's decentralised exchange). BNB is the Binance token.ĥ0% of my current balance is $500, so I'll be investing about $500 in the EPS-BNB pool. EPS is Elipsis, which is the governance token of a Binance stable coin exchange. The EPS-BNB pool on harvest is paying over 2,700% annual return and has about $500k in it, so I'm going with that one. Fees are also lower on Binance, so I will go along with Binance tokens for now. I don't see it as anything more than entertainment.Īs of today, the APYs are higher on Binance than on Ethereum. If you plan to do yield farming, I suggest you plan on losing all of your money too. To be clear, I see a very high chance that I will lose all of this money. Withdraw the full amount from the pool into BUSD once I have both a) made back at least my transactions fees, b) see a pool offering a higher APY. The rationale here is that if a smart contract fails in the farming portion, my losses are limited to 50%. ![]() Hold the other 50% in a US pegged stablecoin (Binance USD, BUSD). Invest 50% of my total balance in the highest APY pool on Harvest.Finance that has at least $500k in liquidity. ![]() It's day 1 and I'm starting off with $1,000 ($1,117.18 to be precise) to invest in Harvest.Finance. ![]()
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