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Hello everyone my name is Le Dex and I will analyze the best DeFi Strategies that I follow with my portfolio and why. Of course, this is not a financial advise and you have to do your own research before you invest your money
In this episode, I will analyze my Ethereum strategy . For a long time, I was looking for something to do with my ETH because they were sitting in my LEDGER wallet without working (unlike my other cryptocurrencies) . There are many ways to stake your ETH but the fees that you have to pay for that are so many that make staking not worth many times that I tried. And then, I found Polygon Network that fees per transaction are extremely low and you can withdraw you ETH from Exchanges with a low fee too.
First of all, you have to add Polygon network into . I will make a seperate article about that so experienced users don't get tired.
Secondly, you need to your ETH from exchanges using the Polygon networkNOT ETHEREUM NETWORK . Also, you have to withdraw a very small amount of Polygon (MATIC) to pay for fees into the DeFi [ 0.1 MATIC is enough for all the transaction ] . For those who have already transfered their ETH to a wallet into Ethereum network they can bridge them into Polygon network easy [ I will show in another article ] .
As soon as we have our ETH to the right network we go into https://beefy.finance/ is a decentralized protocol that is looking into pools of other DeFi and with smart contracts they autocompound your rewards. When you get into Beefy Finance you have to choose between the blockchain that you want to dive into. 
The next step is to search around many pools in different Dexes but the one I am talking about is ETH-cxETH LP . You have to zap it and deposit your ETH by choosing it :
Either you deposit directly your ETH or you deposit ETH-xcETH QLP, the amount of fees is almost the same (Polygon has very low fees). Also, before you deposit anything first you approve that you let Beefy Finance use your ETH or QLP to their smart contracts from your Metamask, and then you can DEPOSIT your funds. That is why you see "APPROVE" to my screenshots.
This was the final step you have now deposited your funds into Beefy Finance's smart contract. You can review and scan your position here: https://yieldmui.vercel.app/dashboard/views?v=2 by adding your address and click submit.
ADVANTAGES
- High yield farmingright now into a blue chip like ETH
- No risk of impermanent loss . I will have another article about what impermanent loss is. In a few words, it is when make an LP with two assets and the 1st asset price actions move different from the 2nd asset actions. In this LP you don't take that risk because cxETH price is pegged to ETH price so their prices will move exactly the same way (as soon as they are pegged
- cxETH is made by Celsius X finance which is a trusted exchange ( in my opinion ) that wants to fill in the gap between CeFi and DeFi [@CelsiusXDeFi twitter account]
- Extremely low fees in Polygon network . You will barely need like 0.1$ in MATIC to stake your ETH.
- Autocompounding rewards . You don't have to claim rewards and re-stake them cuz Beefy's smart contract does that.
- The biggest risk in this strategy is cxETH losing its peg to ETH price . You have to do your own research about that.
- The high APY can fall down if many funds are added in the pool. Now, the TVL ( Total value locked ) is $105k.
This is my own strategy to stake my ETH . Remember to do your own research before you invest in De-Fi . Do not listen to anyone , not me too without researching your own .
If you have any questions about the strategy you can send me a message in Twitter or comment below, I will do the best to help you. I will also make another article about not only strategies but also how to move funds , use Metamask and other tools that you need for De-Fi.
