Hello lovely people of Hive community. Hopefully you will be enjoying your life with good health and spirit. Friends, crypto market stuggled to achieve something big this year. Despite recent growth, global crypto market cap is around $1.01 Trillion which at one stage was around to touch $3 Trillion. In such situation, farming pair on Pancake swap is gold mines for investors.
source
Pancake is offering mouthwatering APR on its farming pair. Right now, top farming pair on pancakeswap is MGP-BUSD famring pair which is currently offering 243.81% APR. Massive APR considering the conidtion of crypto market. At current you will get almost 1.413 Cake coin on the investment of $1000. The worth of 1.413 Cake is around $6.68.
$1,000 investment and earning a reward of more than $6 is mouthwatering. But remember the APR% will drop with increase in liquidity. Currently liquidity in this pool is around $460,000. APR number will decrease with increase in liqudity.
Crypto market not support one way traffic. Infact it can pump and dump any time. Opportunity often come on your way. The formula of success is to grab these opportunities.
It is noted that investment on new coin offers high reward but at the same time it is pretty risky to invest in new coins. Coin can move in both way. Either, it will pump or dump. Pump is beneficial but dumping is not the option. It can shrink your asset many time. Huge risk is involved in new coin but the margin of profit is pretty high. High risk = Hige profit.
Farming pair will be come less risky if one coin is stable coin. BUSD is a stable coin. Although there is a chance of dip in MGP price but the margin of profit is pretty attractive for investment. Tough to choose is it a good option to invest in MGP-BUSD on pancakeswap. What is your opinion my friends?
This is it for my today post. Wish you all a very happy, healthy and prosperous life ahead. Have a nice time.
Hello friend
Ideed the MGP-BUSD pair on pakcake swap is giving such attractive rewards that one is tempted to invest in this pair.
You are absolutely right about the yield dropping from 243.81% APR as more people join the pool and add more liquidity.
So the first movers would get thw maximum advantage of the high APR
I personally have taken advantage of such high APR's in the past. The trick is to get in just at the launch of the pool and keep monitoring your progress.
Then exit and sell the coins to make a profit.
I say this based on the experience that a lot of time these high yielding pairs are new coins that the team wants to promote with such high yielding pairs in a pool.
So often there is pump and dump involved.
I have not read the white paper of the coin so cannot really comment o the use case and growth opportunities.
So I am only sharing my own experience.
#staysafe & Keep your #crypto safe too.
Posted Using LeoFinance Beta
You raised a valid point. It is important to share our experience in order to make this platform more resourceful. Only better understanding may help to keep our asset safe. Stay blessed
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