I have seen many people asking before: Can the income from Binance’s new coin mining#FDUSDpool offset the losses caused by the falling exchange rate?
#PIXELThe answer given to us at the opening is: yes.
I actually measured that the return rate obtained by staking FDUSD for ten days was 1.69%. Assuming that I bought USDT at the high point of FDUSD/USDT at 1.005, and finally sold it at the low point of 0.998 in exchange for USDT, the cost loss was about 0.7%.
Subtract the two to get: 1.69% (mining) - 0.70% (loss) = 0.99% (received)
My exchange rates of 1.005 and 0.998 are already the relative highs and lows during#newcoinmining. In the early stage of newcoin mining, the FDUSD/USDT exchange rate probably hovered around 1.0025. After the end, the current price has also rebounded from the bottom. Around 0.999.
Therefore, the cost of purchasing FDUSD should theoretically be lower, perhaps to about 0.40%. Then the mining income is equivalent to 1.69% - 0.40% = 1.29%, which is a bit higher profit.
In short, calculated this way, if USDT is exchanged for FDUSD for staking during the Pixels new currency mining period, it will be profitable.
However, if the opening price of PIXEL today is too low, the income will be reduced and may even be reversed, so future new currency projects still need to be studied by themselves.
Many people think that the 1%-plus income is simply a drop in the bucket in the face of the general rising market, and many investment experts should look down upon it. However, I think everyone has an investment method and strategy that suits them, as long as they are comfortable with it.
Binance New Coin Mining: https://launchpad.binance.com/
