Another day, another rugpull!
This time it was Iron Finance a multi-chain Defi protocol on BSC and Polygon.
Even Mark Cuban got rekt. 😋
What do you think guys? I keep hearing from many LMT folks about how Cub Finance is the safest investment among DeFi Projects. And I totally agree with it because I have tried my hands on several Polygon DeFi. Got rugged once. Cub Finance seems to be the most promising deal so far because I trust Khal. Since, I am invested in Leo, it makes more sense to use it as compared to other platforms which do not have an active and interactive social community as we have here. Moreover, polygon is coming to Cub Finance. In future, more such chains will be integrated to the Cub making it a multi chain DeFi Aggregator with Auto compound vaults.
I recently wrote about DeFi Insurace after I studied how Autofarm (future model of Cub Finance) is providing these safegaruds to the its investors. Do you think that could solve the trust problem and save investor's future from rugpulls and smart contract hacks? Do you think Cub Finance should adopt some of these safeguards (Insurance Protocols) as an addon to its integrity among outside investors?
Posted Using LeoFinance Beta
i have taken a break from the defi scene to focus on more pressing issues. however, I agree with you that cub is the safest bet in the DEFI scene. i haven't played around with other projects and I doubt I would.
I have heard much about autofarm but I will look into it.
Posted Using LeoFinance Beta
No problem man. I understand! Autofarm is the future of Cub Finance with modifications that will suit the community and which are in its best interests. Kingdoms are just like Autofarm vaults so no worries even if you don't try.
Posted Using LeoFinance Beta
I hope you get your stuff sorted out man!
If you can, try to hop on CubDefi very quickly and move your assets to Cub Kingdom. It will auto compound for you so you don't have to think about it while you focus on other things :)
Posted Using LeoFinance Beta
Cubfinance is backed by a development team with a two year track record.
That is something that I dont know many others in Cubfinance can say.
Posted Using LeoFinance Beta
That's true. Most of these teams are anonymous folks or totally freshers. Cub Finance is backed by both the development team and a cool community. :') It's an unbeatable combo.
Posted Using LeoFinance Beta
I read an article not long ago how to identify possible DeFi scams. It was very good but I read so much I can not remember where I saw it.
We crypto folks as a group tend to be very big on little governmental regulation until a rug-pull. Then the rhetoric in the space seems to change.
Posted Using LeoFinance Beta
Yeah! It's a risky space because once your investment is gone. It's gone! Nothing much you can do. I still don't want government's interference. Maybe we will have a better, decentralized solution in the future to handle this.
Posted Using LeoFinance Beta
Were you invested in that Iron or whatever Finance? I think CUB is great since the team is good and we know they are building a new model. I don't know if we need insurance protocols since most of them try not to pay out.
Posted Using LeoFinance Beta
No, luckily I was not! But it seemed like a legit project.
Regarding Insurance, there are so many protocols available and I am sure it's going to be hard to find a good one that is appropriate for us.
Posted Using LeoFinance Beta
I haven't heard this until now. Thank you. At one time in the past I held some Iron Stablecoin without problem and planned to use them again if needed. Oh well....
Posted Using LeoFinance Beta
Just look for them if you already have and sell while you can. I hope you didn't lose any money.
Posted Using LeoFinance Beta
Thanks, but they are already gone from my holdings. No money lost here.
Posted Using LeoFinance Beta
Oh damn, another one...
Well, just makes me more certain about CubFi's future... I feel sorry for the people who lost money on that though
Posted Using LeoFinance Beta