BSCNews Yield Farm Trading Competition

This series will track each of the founders' individual investments, and one winner will be crowned after two weeks. The winner will receive 50% of all total profits, and BSCNews will give away the other 50% of profits.

By
Goon Trades
on
January 18, 2021
Category:
MMR

Trading Competition

We are introducing a monthly BSC "pick em" trading event. KDOT (Kami), Goon Trades (Greg), and CryptoLight (Ben) will be participating in a two-week BSC yield farming trading competition. This series will track each of our individual investments, and one winner will be crowned. The winner will be announced on Feb 1 and he will receive 50% of all other competitors’ and, we as a team have decided that who-ever wins, will give away 50% of the total profits.

Yes, this means this is a giveaway, so now you guys are interested… So here are the rules.

  • Each participant will start with a principal investment of $100 BUSD
  • Participants can select multiple investments but cannot change positions once purchased
  • The duration of the contest will be two weeks, ending 2/1.
  • The winner receives 50% of all participants profits
  • 50% of total profits are used for the giveaway


Give Away Rules:

If all three of us fail to make any profits, there will be no giveaway; hopefully, we will not all degen. With that being said, let’s dive right into everyone’s positions.


 Top Pick: Goon Trades (Greg)


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I have placed my LP tokens in a Beefy.Fi vault to receive just shy of 1% yield daily.

For this two-week challenge, I have selected to yield farm using the BSCs’ latest algorithmic stablecoin, BDO. This is two-fold; the first and most legitimate is because I really like how algorithmic stable coins attempt to incentivize an equilibrium or “stable” price. The idea that you can leverage seigniorage to create a stable-coin that grants “sustainable” yields and also requires no proper collateral is powerful. Granted, algorithmic stable-coins are far from true stablecoins in their current highly speculative period.

The second reason is that Ben seems to have no faith in algorithmic stablecoins, so just to prove him wrong, I have decided to win this challenge farming with one.

For those who wish to learn more about algorithmic stablecoin and BDO, check out this article:

Bearn.FI Kicks Off Its Ecosytem With Their Algorithmic Stablecoin bDollar


Fuel Moon Boy: KCrypto (Ben)

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KCrypto or Ben has selected his pick as a yield optimizer, JetFuel, of which he is very fond of their tokenomics/platform structure. He has opted for FUEL/BNB LP position using StreetSwap LP’s and depositing them in the JetFuel vaults.

Ben has been a fan of JetFuel ever since launch and has had multiple discussions with the JetFuel team; he specifically picked FUEL for this two-week challenge “because of the expected progress jet fuel will make in upcoming weeks along with the high vault apy.”

For those who wish to learn more about JetFuel, check out this article:

Jetfuel Project Review: A Fair Launch Yield Aggregator & Farming Protocol

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Overall this vault currently offers close to 1.5% daily ROI.


“Sleeper” Pick: KDOT (Kami)

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KDOT or Kami was too busy working and got beat to picking BDO, by the winner himself, Greg (I), who first selected BDO. Kami realized there was no way to beat me as I had a better entry price and already began earning yield.  He then decided on a BHC/BNB LP position, which is earning a hefty 1% daily in a JetFuel vault.

Kami has listed the following reasons for picking BHC

--High Yield

--Upcoming NFT Platform

--Great Team

--Scarce Supply

For those who wish to learn more about Billion Happiness, check out this article:

BillionHappiness Migrates Original Contract as NFT Marketplace Release Nears

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Summary

This series was created to serve multiple different purposes, the largest being integrating a fun event for both the community and BSCNews. This challenge spreads awareness to BSCNews, highlights specific projects, and involves the community (as long as we perform well). Overall this challenge seemed like a fun and interactive way to display the seamless process of yield farming on the BSC. For those who wish to partake in the giveaway go ahead and retweet the post and follow BSCNews here.

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Overall it is vital to proceed with caution when purchasing highly speculative cryptocurrencies. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.

None of our articles are advice at the end of the day, all financial decisions should be made on your behalf or from a professional financial advisor. We strongly urge bsc.news users to make financial decisions with professional financial advisors. 

Twitter: KCrypto

Twitter: GoonTrades

Twitter: KDOT0X


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Goon Trades

Greg (GoonTrades) is BSC News' Chief Editor and is also a writer for the team. Currently enrolled as an economics major, he finds himself as a cryptocurrency researcher, writer, and technical trader.