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
Well, not easy to say it but earnings are down this week. The CUB price has been getting destroyed and with that goes the APY's. We harvested 700 CUB which sounds huge but only converts to 626 LEO in total. Things might turn around for polyCUB as its supply decreases to a standstill in a few months. Either way, CUBlife will continue on with the grind.
The dividend pool at the minute s being split pretty much dead on 50/50 between liquid and staked CL token holders. Keep your CL tokens liquid to receive LEO, stake them to passively compound more CL or do a mix of both.
- Blue = BSC
- Orange = POLY
Total wallet value is down this week as well as the market is down. We are most exposed to BNB that makes up roughly 41% of our total holdings in LPs. ETH is next with 18.6% and bLEO is close behind in 3rd at 16.4%. That's 76% of our total assets in 3 tokens.
So listen, if we are in a bear market, the value of our wallets will decrease. If we are in a bull market, the value of our wallets increases. It's that simple and the market is down some this week. I reinvested our 40% into the BTC/BNB kingdom as we start to grow up a BTC balance again.
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
xx
Roundup
Well, things are not going well for CUBfinance. If the market goes bull again, we could be in good times again. Alot of people feel if the market does not moon by September time, $67k will be BTC's market cycle high. I could flip a coin and have no idea. We will continue on.
Have a great weekend everyone, dividends will go out this evening.
Posted Using LeoFinance Beta
That's pretty much it right now isn't it? Flip a coin and wait to see what happens. Not good for impatient people like me! I just staked some more of my CL. I am always happy to hold as much as possible!
Posted Using LeoFinance Beta
I guess we must enjoy it while it last if by Septembers the fun times end :)
Posted Using LeoFinance Beta
It's a long term game and bear markets don't last forever. Even with it being a bear market, we are still growing the holdings.
Posted Using LeoFinance Beta
Mother always told me there would be days like this but I'm in for the long haul and will weather these storms.
Quick Question. If I stake BNB/BTC in Cub Finance I get BTC as interest, Is that correct? Not just Cub?
Posted Using LeoFinance Beta