Authored by @silverstackeruk
Hello, LBIer's and CLer's. Welcome to this weeks CUBLIFE (CL) token update. We are going to look at this week's CUB harvests, reinvestment and weekly dividend APY. This update post is released weekly, dividends are paid in LEO every Friday at 9 pm UTC and new CUBLIFE (CL) tokens are issued once per month every 21st.
What is CUBLIFE?
CUBLIFE (CL) in a nutshell is a hive-engine token dedicated to investing in CUBfinance that pays out weekly dividends in the form of LEO. All LEO/HIVE raised from monthly token issues is invested in CUBfinance. 50% of weekly harvests are converted to LEO and issued to CL token holders, 40% is reinvested back into the platform and 10% goes to LBI as an operators fee for maintaining and actively managing the wallet.
Weekly Income
The high APY's on polyCUB were nice while they lasted a few weeks. The APY this week is as low as i can remember, i dont think it's ever dropped under 25%, could be wrong. Our biggest holding is pLEO/MATIC and its earning 16% after the 50% fee so i'll be swapping that back over to BSC CUB for 54% instead. Would hope the APY will be back over 30% for next week again.
Our wallet is down around $700 but the whole market has declined some. I put all our reinvested money on Poly into the USD/BTC/ETH LP and on BSC, I just converted it to BNB. I'd normally reinvest on Poly into the ETH/DAI LP but man, I'm just not in the mood to deal with doing poly transactions at the minute so I picked to use the curve as it's the faster way. Poly is such a slow chain and very unliable. Jebus, TRX is better then Poly 😲
Next week, our holding list will be shorter but the APY for dividends should be higher so all good and less for me to track :)
- Blue = BSC
- Orange = POLY
- Black = Gas tokens
This month's CL token issue
Every 21st of each month, new CL tokens are issued to those that have sent either HIVE or LEO to the @cublife before the end of the 20th. The month goes 21st-20th. If you send in funds on the 21st, you'll be waiting till next month. Conversions take place once per month on the 21st with new CL tokens being minted to the same value as the existing ones in circulation. There are 12 CL token issues per year.
You can transfer LEO/HIVE or HIVEp from hive-engine. If you send both LEO and HIVE, you will receive 2 token issues, 1 for each. You can confirm your funds have been received in the table below which are posted weekly and updated 2-3 times per week.
Leo
xx
Hive
Roundup
Well, it is what it is. Not nice to hit all-time low APY but these are things that happen when we take risks and reallocate funds around. I'll be moving some funds back over the BSC, im sorta happy because i like BSC, it works very well and fast. Tomorrow evening will be the best time for me as i have a few wallets to work on and would like to get it all done in 1 shot to save on blockchain bridge fees and whatnot. I really hope i can get the APY back to over 30% for next week.
Oh lastly, the bLEO to LEO bridge is not working so well so this weeks dividends will be funded with a short term loan from LBI. Sadly LBI has a missing pLEO to LEO transaction as well but that's not CUBlife's problem. haha
Happy CUBbing 😉
Posted Using LeoFinance Beta
Did you get a huge number of people jumping on CUBLife after that post I wrote the other day? I know one person who was pretty interested. I am not sure if he ever got around to sending funds over though. I hope it got a little more attention for the project. Even if it was just a small amount.
Posted Using LeoFinance Beta
no, never noticed anything. They might be waiting till closer to the 21st. Thanks man for sharing the word :0
Hey, no problem. I think it is a great project. Definitely the perfect place for people who want to invest in DeFi but don't want to get their hands dirty!
Posted Using LeoFinance Beta
I have also noticed a few Polygon issues and I wait between failed transactions because I don't want any issues to happen.
Posted Using LeoFinance Beta
I always pay max fee and then send it up by 10% if its not gone through in 30-40 seconds. Yea, sometimes you have to claim or do things twice and that's not cool cause you dont wanna double spend, lol
growth is always so just hang in there
I wanted to make a "bridge too far" joke but I don't know how many people would get it :)