Crypto
BSC Yield Farming Results Week 4

BSC Yield Farming Results Week 4

What a great week for crypto. Shout out to big dog BTC for breaking new ATHs of 60k and for the whole market rallying to new heights. For BSC yield farming, it hasn’t been without its losses. It’s probably worth mentioning that you should be careful even with BIFI/AUTO/JETFUEL projects. But with that being said, I have noticed a few things that kind of bothered me a little bit as I took a look into my earnings this week.

So focusing only on BTC, I am a little alarmed on my results. Last week I was a bit rushed to finish this and I didn’t actually notice this low low APR. I think when I first started with BIFI BTC was advertised around 80% so the first week checked off pretty well… But to earn 1% APR for the last two weeks is extremely staggering. Why am I using Beefy at all? AUTO made x33 the amount that BEEFY did. AUTO had some problems with its code recently! I hear BEEFY say. Well sure, but that doesn’t explain how pancakeswap offers 20% APR and I only made 1%. Even if we assume that PCS’ cake price fell by 50% and the price of bitcoin stayed the same, then it would be safe to assume that I should have made at least 10% APR. Where did the 19% difference go? Also, prices have only slummed for the last week and a half. So… Again, this raises the question… What exactly is going on here? In fact, even other pools like the cake-bnb pairing which is using cake should be outpacing PCS’ rewards but… Is pancakeswap APR off? Or is it BEEFY?

This is the last week I am going to pair this section with the first. It is a bit of work compiling everything and I think things are starting to get enough depth that I can do standalone sections. Plus, I think they are really addressing different things.

BSC DEXs

One quick shoutout for being lucky last week and recommending MOCHI as my top speculative DEX! The supply production has since dropped but the price has surged. Goose being my other safe option is pretty interesting. They had a lot of bad backlash throughout the week and didn’t handle it quite as well as they could have. Their layer 1-3 speculative farming caused some to lose a lot of money but I still think this is a pretty safe project… But let’s dive into some of the numbers!

Top Projects based on Telegram # of messages (% of PCS):

  1. Julswap 162%
  2. GooseDefi 137%
  3. Pancakeswap 100%
  4. BakerySwap 75%
  5. Apeswap 75%
  6. Mochiswap 40%
  7. Saltswap 37%
  8. CrudeOil 34%

Projects with the Smallest Supply Increases

  1. Crudeoil -1%
  2. Spongeswap 0%
  3. Narwhalswop 0%
  4. Julswap 0%
  5. Bakeryswap 2%
  6. Pancakeswap 4%
  7. Stakd 6%
  8. Mochi 11%

Top projects based on Token Price Increase

  1. Mochiswap 229%
  2. Koaladefi 26%
  3. Apeswap 24%
  4. Ramenswap 4%
  5. Pandayield -6%
  6. Icecreamswap -7%
  7. Narwhalswop -8%
  8. Pancakeswap -8%
  9. Pizzafinance -8%
  10. Bakeryswap -10%

Top projects based on TVL

  1. Pancakeswap $4,454,873,269
  2. GooseDefi $308,192,599
  3. BakerySwap $150,304,455
  4. Julswap $72,987,669
  5. Burgerswap $65,900,198
  6. Apeswap $32,308,350
  7. Kebabfinance $14,858,421
  8. Saltswap $10,780,152

Opinion Section

Okay to address some things here. Looking at both charts posted, I made 19% on my liquidity pool tokens with CAFE swap but the price went down 29% over the week. Simply put, I lost about 10% on that. But, assuming my APR which is generally tied to the supply increase is higher than the price that the token is falling, then you potentially could make a profit.

Projects based on last week’s results that I think have a promising potential:

Bakeryswap – I almost put more money into bakery in the past but I held back. The real eye catching numbers are the really small supply increase (2%) and the active telegram community. Bakery is blooming with NFTs which are huge right now. The big downside to bakery is definitely the interface which I think is holding it back but then again BAKE is #2 on marketcap on the list (x10 smaller than CAKE).

Goosedefi – Goose hits most of the checkboxes for me. Low marketcap overall at 50.5m, the #2 TVL on the list and more telegram engagements than PCS. The one downside to Goose is the 25% supply increase but overall the developers are extremely active.

Mochiswap – No one even comes close to MOCHI in terms of the past week’s price action. Mochi announced a huge project to sync a bunch of different blockchains which I think I have mixed feelings about but overall still a great small community that is very active and a tiny market cap product.

Ramenswap – Despite the high supply change, it manage to go positive on the list in price action. The community isn’t super active which is kind of a red flag but then again telegram engagements aren’t everything. Excited to see where this project lands.

Apeswap – I have been eyeing this project for a while now. They finally got onto BEEFY which is pretty cool and I do gotta say their community is super active. I am always surprised how much the developers do their social media engagements. While I don’t tend to buy meme tokens anymore, APESWAP is definitely bringing some utility to their memes by bringing in new customers to their DEX. I feel like this is a pretty safe bet going forward.

 

What dexs do you like? What do you think I should add onto the list? I think with this becoming a standalone post to follow DEXs, I should probably add more onto the list.

2 thoughts on “BSC Yield Farming Results Week 4

    • Author gravatar

      How’s Mochi doing? I bought some BANANAS this week, the price is stable, but it had its drops. I’ve been trying to minimize impermanent loss situations when there are high APR opportunities, but it’s getting harder — or maybe I just don’t know enough new players out there.

      • Author gravatar

        They seem to be staying fairly stable. I think when I first mentioned them they were at .06 and then at one point they jumped up to .14 or something but right now they are at .094. For a high yielding farming token, overall I’d say stable lol. The HMOCHI on harmony I expect to do very well when they launch it

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