The long awaited CUB airdrop / claimdrop has come. You can trade your CUB in hive-engine, or put it to work on the CUB Finance staking platform, providing liquidity or just staking the asset (farm / den).
Here are the good things:
- this airdrop / claimdrop thing is a very complicated, from a technical point of view, process, but it worked seamlessly. As a dev myself, I know what's involved and I congratulate the devs
- the aidrop wasn't 1:1 (1 CUB for each staked LEO) although I was under the impression that it will indeed have a parity. It was about 1:200 (1 CUB for about 200 staked LEO). This is good because it doesn't increase CUB supply sharply, hence the price stays more or less the same, or at least doesn't plunge like a rock (but it has also an ugly part, see below)
Here is the bad thing (just one):
- it happened with more than 48 hours of a delay. It raised concerns about possible speculation, or inequality to access to the process. I jumped the wagon because I like having fun and I'm tolerating risk relatively well (4 years in the Steem / Hive ecosystem, well, I've seen some shit). But the vast majority of potential holders missed out on the initial huge APR (FWIW, I jumped the gun a bit later myself, so I didn't catch the big train, only the last wagons, the highest APR being 10,000%, and going down fast from that point)
Here is the ugly thing (just one, but it still counts):
- miscommunication about the parity was a huge mistake, IMHO. Crypto is full of scammers and Steem was a wild place for a while (even the Hive fork was the result of a huge scam / aggressive takeover). So people are a bit wary of miscommunication, and it's very easy to believe they were actually scammed. It's such a pity, because Leo is a solid project, and Cub has a fabulous potential (bridging Hive to the DeFi world can be the black swan event that will propel this blockchain / community back into top 50, and possibly make it mainstream).
With that being said, moving forward, let's see how the CUB token will do in about a year from now.
I'm a geek, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Hive you may stay updated by following me @dragosroua.
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Yeah the whole thing gave a huge advantage to the whales, but to mitigate that I bought some lbi tokens because they got in early and made a killing, which I couldn't have done.
It was an opportunity for the early investors but locked anyone with only small investments out. I know the team had a delay but that could have been communicated better or the pools/dens could have been locked until the drop? Not sure but the team have done a great job with the launch other than that
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Yeah, exactly my point. So far it looks just like miscommunication. Other than that, indeed, good job!
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I agree, the delay has caused some trouble, some made a small fortune, while others didn't. If I am looking at the bright side, imagine what the claimdrop would have been like if they don't simplify it. The vast majority is not used to this kind of process you have to go through.
Yeah, it could have been managed better, we agree on that.
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The roi was incredible at the start, To bad I was a little slow to double up on it,
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@tbnfl4sun better late than never..at least you still joined the train..goodluck
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At the end of the day, I see more positives, tbh. I mention the downsides just to learn from them, all in all, it was a good move.
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Me too, I see more positives and this little downside will be forgotten.
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I jumped in early because the team has a proven track record of delivering. I know that they improved the airdrop system and it was seamless but it could have been communicated better. Give proper time, date details. There was a full day of people asking when is the airdrop which is a bad sign but a learning experience for the dev team.
at this point I think it might be willingly done to create hype
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I blindly thought that we're gonna get a 1:1 ratio. Sold the 12 CUB I got for LEO and planning to buy back when the price tanks. It's a good project though and a step forward for Hive and Leofinance.
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12 CUB is not too shabby, man, I only got 0.498, lol :)
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do you mean the relation LEO staked to Cub dropped?
It is nice to see somebody point out the negativ. I might do a little post myself highlighting how I was kind of dissappointed how the early yields were for those who can easily understand the tech/setup and have invested money into CUB by buying it or getting it as reward for LP Mining other stuff.
I still think it is better than having no exciting projects on the blockchain, but I wish those who waited/rely on the airdrop could have started at the same time as the big guys.
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I am one of those who had expectations, although nowhere in any copy was mentioned a 1:1 parity. It was just expectation from my part. With that being said, there is always a risk / reward analysis to be made, anywhere. If you think the risk is worth, then you jump in early. Imagine what would have been if CUB was a flop, those entering early would have gone rekt by now.
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true that
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Well that 200:1 makes sense now after I saw my 0.795 CUB airdrop. I wondered for a bit if that was actually it, until it was confirmed by another member of the tribe.
I look at it this way. The people that took the early risk and put some skin in the game, deserved to be rewarded. I just wish I'd had more funds to up my LEO stake, but there will always be other opportunities in the future! :)
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Yeah, early skin in the game should always be rewarded.
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Exactly, the right words for how I felt about the drop.
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