Cash flow opportunities with Cometh

Two tutorials on Cometh ecosystem

Introduction

If you followed us for quite some time, you know that we do like the Cometh project a lot.

Cometh is not just a game, it is a whole ecosystem of apps which allows you to:

  • Interact with both Ethereum and Matic L2 via Cometh Bridge.

  • Swap tokens on Matic L2 for literally no fees.

  • Do some yield farming on ComethSwap to bootstrap Cometh Liquidity.

  • Play the game with NFT spaceships and mine valuable liquidity tokens.

  • Rent your spaceships to professional players and share the profit.

Today we discuss two cash flow opportunities derived from Cometh: a classic yield farming on Matic L2 (no more crazy fees to pay) and the spaceships’ rental.

ComethSwap Yield Farming on Matic L2

So if you have already done yield farming in the past, you might want to try out ComethSwap on Matic L2. Some pools offer around 300-400% APY.

How to get started?

  1. Get some MUST on Ethereum via Sushi or Uniswap.

  2. Connect your Metamask to Matic L2 by following this tutorial.

  3. Use Cometh Bridge to transfer MUST to Matic L2 (wait about 10 minutes for the tokens to effectively move to Matic once transaction is validated on Etherscan).

  1. Go to ComethSwap and connect your Metamask with Matic (not Ethereum mainnet). You should already have 1 MATIC in your wallet (used to pay gas, shall be enough to execute 1000 transactions).

  2. Swap your MUST for some other tokens of your choice.

  3. Add liquidity via Pool and don’t forget to deposit your LPs into Farm to receive your farming rewards in MUST.

Whenever you want to exit Matic L2 and go back to Mainnet Ethereum, you can use the exit function from the bridge.

ComethSwap has already some good liquidity (18M USD) but it is relatively new and is just getting started. We can see it becoming the reference DEX on Matic L2 in the coming future.

Cometh spaceship rental

The second cash flow opportunity lies in spaceships’ rental.

While we do like a lot the Cometh game (and btw the music is fantastic), it takes time to play. So instead of playing the game yourself, why don’t you just lend your spaceships to some professional players via a renting agreement?

We already did and we have been positively surprised. It actually works. We have started the contract on March 31th and we already got $33 USD in 6 days.

How to get started?

  1. Buy spaceships via Opensea (either on Ethereum Mainnet or on Matic L2). Yes Opensea is also available on Matic L2 in a Beta version.

    OR Farm DUST by staking MUST to redeem spaceships.

  2. Transfer the spaceships to Matic L2 via Cometh Bridge: once you get the spaceships you will need to transfer them to Matic L2.

  1. Connect to Matic L2, go to Cometh Rental and create a rental offer.

Attention: if your spaceships are already in the Cometh Game, you will need to get them out before creating your rental offer. Otherwise you cannot add them to your renting offer.

  • Go to Cometh Game.

  • Select the spaceship and click on Leave Galaxy.

  1. Specify the renting parameters for your spaceships

Select a period of one or two weeks, revenue sharing 70% (we take 30% for us), select a low entry cost (0.1 to 0.5 MUST will be more than enough imho) and add your spaceships.

We do recommend to add minimum three spaceships to your renting offer. You can add 5 spaceships at maximum. Our strategy is to combine bigger and smaller spaceships to the same renting offer. Do not use only Drones or Pathfinders (the cheapest spaceships).

As a rule of thumbs, check out first the existing offers before setting up your own. If you ask too much, nobody is going to take your offer.

  1. Publish and you are ready to go.

  2. Once your offer has been accepted by someone, it will appear with under progress status and you will start accruing rewards.

Enjoy your cash flow guys!

Thanks for reading

Secret Salsa


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