RobiniaSwap - Here I come! A $1000 experiment!

in robiniaswap •  4 months ago 

I guess many people active on Steemit have noticed that RobiniaSwap was launched on October 1st. This is a platform for passive income on the Binance Smart Chain (making transactions supercheap and fast), but it has a built-in bridge making it easy for Steemians and Blurt-fans to transfer their tokens through the bridge to their BSC-wallet and then either add them to the pool on RobiniaSwap (often referred to as staking), or they can start to sell their Steem tokens or add liquidity to different pools on PancakeSwap and earn extra income by adding those liquidity pool tokens to one of the farms on RobiniaSwap.


I know what you are thinking... 80% of my readers already feel like I have messed up their brains and they just don't understand this liquidity pool thing. After all, most of us active on Steem are here to blog and make some money, but we are not digging really deep into the world of Defi and what's going on around us.

To be honest, I can completely understand that, but it is easy to miss out on opportunities if you do not take the time to follow the trends, learn about the trends, and look for new opportunities.

"Given a 10% chance of a 100 times payoff, you should take that bet every time." — Jeff Bezos

This quote above is just one I read a few weeks ago and it keeps on staying on my mind. How come? There are so many opportunities in the cryptosphere currently, and even though many of them will fall apart and die out, some of them will remain, and if you manage to find some of those, you will be wealthy and consider yourself lucky in a few years from now.

And that led me to do a little investment experiment at the RobiniaSwap platform.

Before I mention my experiment - how to use RobiniaSwap

I don't want to write an article that has already been written. If you want to send Steem tokens to RobiniaSwap, or just discover more about how you can stake Steem tokens, Blurt tokens, RBS tokens (RobiniaSwap tokens), or find out how you can connect a MetaMask wallet to the platform and so on, @josevas217 has written some amazing articles (I followed his instructions as well when I used the bridge to transfer Steem tokens to the platform myself).

Check those articles, they are really gold worth and they will help you out greatly! If you have followed those, you should be ready to actually involve yourself on the platform, and now I will let you know about my little experiment!

My RobiniaSwap experiment

First of all, just for fun, I staked approximately 450 bSteem tokens on the platform (that is, the Binance Smart Chain version of our beloved Steem token). These are generating RBS tokens, and after 3 days of activity, I have earned about 15 RBS tokens (you cannot see them in the image below because I have harvested them and added them to the RBS pool).

steem staking.jpg

But, the real experiment is even more interesting. As I checked the farm for RBS-BNB, it showed me an APY (annual percentage yield) of more than 3800%. That is just crazy, so I decided to add $1000 worth of tokens (that is, $500 worth of BNB and $500 worth of RBS) and add them to the liquidity pool for the pair on PancakeSwap. I then add the LP tokens I received after adding the liquidity to PancakeSwap and added them to the farm for the selected pair on RobiniaSwap.

rbs bnb lp.jpg

This all happened approximately 30 minutes ago, and I have already "earned" almost 2 RBS tokens which are currently worth almost $3 in total. That is just super fast, and I am curious to see for how long it will keep up with such a high APR. Since I added my tokens, the APR has dropped from 3800% to 2800%, meaning that these numbers might change quickly depending on how many people actually add LP tokens to the farm. No matter what, I will follow the project closely, and I will write some updates on my $1000 RobiniaSwap experiment in the future.

I can also recommend the following article for more information about RobiniaSwap:

Have you tried the platform yet? Are you happy about what you have seen and experienced so far? I look forward to reading your comments and hearing your thoughts!

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Hi @unbiasedwriter
Wow, good investment, I assume you were able to get good rewards, even though the APR has dropped considerably. This shows how important it is to get in early, starting the project in order to get the best returns.
By the way, thank you for mentioning me, it is a pleasure to know that I have been able to help clarify the path for the investment and use of the bridge.

Dear @unbiasedwriter

it has a built-in bridge making it easy for Steemians and Blurt-fans to transfer their tokens through the bridge to their BSC-wallet

Correct me if I'm wrong, but someone mentioned to me that swaping BLURT to BSC via RobiniaSwap bridge isn't working. Did you try it out by any chance yourself?

80% of my readers already feel like I have messed up their brains and they just don't understand this liquidity pool thing.

it surely is difficult to wrap our head around it. But this knowledge seem to be so bloody useful.

Thanks for sharing this post about RobiniaSwap project. I myself decided to stake some funds (and provide liquidity to the project) and start minting RBS tokens, hoping that this token will maintain it's value.

For me, so far the most challenging part is understanding RBS token economy. Where demand would be coming from? I know that part of fees are being used to buy-back and burn those tokens, but that's probably just a "tip of an iceberg".

ps. I've noticed that you're using MetaMask? Did you ever try Trustwallet? (just curious).

ps.2. Did you really invest 1000$ ? nice one:)

Solid post. Upvote on the way :)
Cheers, Piotr

By the way, yes - I invested $1000, just as an interesting experiment. Often the rewards are high for being an early investor, so I thought I'd give it a try on RobiniaSwap!

I haven't tried the Blurt swapping thing, so I have no clue about that... just assumed that it was working!

I haven't used TrustWallet, only MetaMask. When it comes to what will bring value to the RBS token, then I'll copy something I wrote somewhere else:

"I guess the token will receive really interesting value if they add projects (IFOs) and other events/games/activities for which the token will be required. For example, Penguin Finance (a similar platform running on Avalanche) just had a BooFinance token sale, and their PEFI token was required to take part. That caused interest in their token. In the same way, they have special games and activities that also require you to have PEFI tokens, and that once again, increases the interest and the use-case for their own token."

Another amazing comment :)

Thanks for being so responsive buddy :)