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, im not too sure what to say really other than, HOLY CRAP!! The price of CUB dropped 50% from last week and this week's total harvests for having $12,000 invested is $55. Not really what I had in mind and 11.82% is not great. LEO curation pays more. We have to wait 1-2 weeks and see what happens, if nothing happens, something will need to be done because it's simply not worth the time and effort to run a project to distribute $30 worth of dividends.
Weekly income this week, not great. Infact worst ever. Let's hope this is our bottom.
- Blue = BSC
- Orange = POLY
So CUB related holding have been wrecked but LEO,BNB an ETH are holding up ok considering the state of the market at the minute. We've only lost around $1000 in dollar value this week and i consider that to be a win.
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
Now we are in a tricky spot right now as the yield for CUB farms has declined very much over the past few months. We might have to explore the idea of bunching out outside of CUB, maybe HBD as example to earn a solid 20% every month. Anyways, we'll watch CUB for 1-2 weeks more and than make a plan after that. This dip could be tempareary and it could bounce back to 10 cents again.
Dividends will be shipped out this evening. Have a great weekend everyone :)
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Thanks for the report!
that's pleb amounts, welcome to the club I guess :))))
interesting, but you may need better apy. Cub on BSC is still solid and supperior, and quite cheap.
Where would that come from? Anything CUB related dropped off and the APR itself has dropped off because of the CUB price. I think they are doing the best they can on CUB because of the model of the project. It farms tokens and then sells them to pay for the LEO dividends.
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58% on cub kingdoms with zero impermanence loss is still better if you buy now, better thanm sps for example, right now
Yes but CUB has tanked quite a bit so the structure of CL to sell the CUB they get every week for LEO would not change. It would do little to improve the APR of CL when CUB price is low.
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I saw how the price tanked after the PolyCUB airdrop ended and I don't really think there is much we can do about it. I am also not sure how to react so I will be looking forward to seeing what you plan on doing.
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