👤What's the best way to get started?
What's the best way to get started?
There are countless strategies, and which one you choose depends on your risk tolerance and short, medium, and long-term goals. That being said, the "plug-and-play" method is detailed below.
Also, take some profits along the way. Don't get too greedy.
If $LIT is OVER the peg:
$LIT is being bought more than sold It can also mean LIT is being hodl by the community. WATER BUCKET PRINTS MORE LIT. Here's how you can start...
Buy $GDS and stake it in Waterbucket to earn $LIT rewards.
Take a portion as profit make a liquidity pool with the rest of your rewards.
If $LIT is UNDER the peg:
$LIT is being sold more than being bought which means USDC > LIT. People are selling LIT. WATERBUCKET STOPS PRINTING. But that doesn't mean that the farms aren't farming. Here's how you can start..
Starting with your BNB in your wallet buy 50% with $LIT and create a liquidity pool. Stake it in the farms or deposit it in an auto-compounder. Make sure you leave some BNB for gas fees.
Take profits by breaking your LP. Staking the $GDS when you profit and converting your BNB to any stablecoin of your liking.
What is 50/50?
50/50 is the method best suited to provide stability for both the platform and for your underlying investment. By boosting liquidity, the 50/50 strategy reduces price volatility and helps $LIT stay above the peg for longer to keep printing. This, in turn, attracts new investors and keeps the ecosystem growing.
When you claim your $LIT rewards in the Waterbucket, sell 50% of them for $BNB.
When you go to provide LIt-bnb LP, stake the entirety of your remaining lit with the BNB you've just purchased.
Are the LPs or the Water Bucket better?
This is more of a personal preference, but I can list the main benefits of each.
LPs
The LPs do not have a lockup period so your funds can always be withdrawn and moved around.
The LPs also can help stabilize the protocol by balancing during times of high volatility.
Water Bucket
The Water Bucket is staking a single asset therefore there is no risk of impermanent loss, and you have more of a possibility of price appreciation.
Is GDS really deflationary? I see the circulating supply increasing.
GDS is a deflationary asset. Currently, until 365 Days, it is in an inflationary period due to emissions. Eventually, more GDS will be burned than emitted, and by 365, no more GDS will be emitted ever, making it fully deflationary.
What can I do to help maintain the peg?
If you have staked GDS in the Boardroom you can withdraw a portion of them to buy LIT to Pair up with BNB for LIT/BNB LP.
If you have GDS/BNB LP you can remove a portion and swap GDS to get LIT and pair it to LIT/BNB LP.
If Lbonds become available, buy LIT to get Lbonds, or break LP to buy LIT to get Lbonds
Why can't I claim my funds from the Water Bucket?
In LIT you must wait for 3 epochs (6hrs each) before you can withdraw your funds after making a deposit or claiming rewards. The Water Bucket Lock resets
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