Okay thanks guys. Another thing. What are you guys doing

Question

Okay thanks guys. Another thing. What are you guys doing

with your rewards from liquidity mining. Now I'm just holding them but I'm missing out on rewards opportunities... I think the price will skyrocket in some weeks from now. What is the best way to still invest the dfi and get some nice rewards? Stake them on cakedefi? Put them in liquidity pair Dusd-dfi? What are the fees for depositing and withdrawing on cake defi when I use DFI?

#blockchain #cryptocurrency #defichain #english

0

09.02.2022

9 ответов

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DanieL BaptistA

I am splitting them in two. Half into new LM pools, and the other half into a less risk investment, on stacking at Cake, to avoid placing all them subjected to imparmenent loss. This ones in LM pools I use for further investing, the ones on stacking I use to compound while not whitdrawing the cashflow, which I sell into fiat to diversify my investments and mitigate risk

0

09.02.2022

D Six

I had similar questions for myself. I was thinking a lot about my strategy. I am expecting DFI to go up. So for me, I wouldn't say I like to sell them for any LM, I am "losing" half of them at these prices. A better option would be to stake them or even add them as a collateral and then mint dusd and put those in LM

0

09.02.2022

Sahin Автор вопроса

D Six
I had similar questions for myself. I was thinking...

I really want to start minting but I yet do not understand the process well enough to be sure of what I am doing. If you have a video from someone that explains it. It would mean allot. There are not many information videos about these important kind of things.

0

09.02.2022

DanieL BaptistA

Sahin
I really want to start minting but I yet do not un...

You can check @DanielZirkel and @lordmarkcrypto videos on youtube on youtube, the fireside chat. They explain quite well the concepts and how to do it 🙂

0

09.02.2022

Sahin Автор вопроса

DanieL BaptistA
You can check @DanielZirkel and @lordmarkcrypto vi...

I'll check them out thanks!

0

09.02.2022

D Six

It's easier than you think. You take the loan by adding dfi as collateral. 100DFI would be $350 and you take out let's say $100 DUSD. That's it. Now you can use those 100 to provide liquidity or to buy DFI at DEX(let's say you can buy 30DFI). Once DFI reaches $7, you sell for $210 and repay the loan $100 + interest This is not financial advice though 😁

0

09.02.2022

Daniel Zirkel

Sahin
I really want to start minting but I yet do not un...

Maybe this helps https://youtu.be/ZdmdXpNVqvg

0

09.02.2022

Sahin Автор вопроса

D Six
It's easier than you think. You take the loan by a...

If you say it like that. It looks pretty easy. But okay like always I have some question: how long can you hold the 30dfi? Is it time bound? Also if you cant pay the loan back because your investment with it blew up. What happens with collateral. Do I lose the 100DFI that I put in as collaterol?

0

09.02.2022

Kassius84 · Accepted Answer

Kassius84

Staking on Cake DeFi sounds like a good idea 😀

0

09.02.2022

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Okay thanks guys. Another thing. What are you guys doing

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