[DEFI YOLOs] Beefy.Finance – Static-BUSD LP 6.97k% APY (1.1735% Daily start) *RETIRED*
Reviewed the charts, and it’s been pretty stable at around $1 for a static coin for many months and liquidity is around 200-300k a day.
Bought 100 Static on Pancakeswap for around $106 and swapped USDT for BUSD
Then went back to beefy.finance and added 100 static to the pool.
Then added all my BUSD to the pool next…
And we’re done
Day 0 we have the following going in
2/17/2022 – 10:12AM
3/6/2022 – 5:02PM – Bad News
Didn’t check this as we forgot about it, but after logging in today this is what greeted us.
We clicked on WITHDRAW ALL FUNDS
Next, we have to go to PANCAKESWAP to break down our LP into individual tokens
SIDENOTE: I went in with 413 STATIC-BUSD tokens, and came out with 447.0053
Even though the project ended, we were able to get our funds out.
IN CONCLUSION: We have $100.9 BUSD and 111.59 static, which at current price is $0.92/static so we are $203.562 — we made $0 dollar profit, we actually lost money and we earned more static, so we have 11 more than before. If static goes up we’ve made some profit, if it crashes we lost money.
TLDR: Pairing with stable coin is safer bet to minimize losses.
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