Introducing Cub Finance | LeoFinance Expands Into DeFi on the Binance Smart Chain

in LeoFinance5 months ago (edited)

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The long-awaited day has finally arrived. Some LEO detectives have already made great guesses at what we're launching today but most people are in for a major surprise.

Over the past several weeks, we've been watching the meteoric rise of Binance Smart Chain (BSC) as it has attracted a lot of capital and trading volume from Ethereum. BSC offers low fees, faster transactions and superior scalability over ETH. With that also come some downsides - not quite as decentralized, less dApps (the chain is less than 6 months old), etc.

Binance Smart Chain has emerged as a major player in the DeFi space. Second only to Ethereum itself.

LeoFinance's mission is to expand the scope and scale of our community and tokenized economy. In November 2020, we release wLEO and supercharged the LEO token economy by plugging directly into the deepest capital market available on the #1 DEX - Uniswap.

Our Uniswap listing has attracted major investors who bought tens of thousands of USD worth of LEO and many who bought well into the hundreds of thousands of USD. These types of purchases are simply impossible on Hive-Engine because the liquidity is so thin.

Docs, docs and more docs. I will be referring people here when there are questions and the answers are available. Our community already does an amazing job of helping each other out, so if you see someone asking a question that is covered in the docs site, please refer them to that page!

https://docs.cubdefi.com


Introducing Cub Finance

We're so excited for Cub Finance. After a few hype cycles for good measure, we managed to keep the information flowing but keep it vague enough to keep most of you on the edge of your seats.

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https://cubdefi.com - or Cub Finance - is a next generation DeFi yield farming platform. We adapted the smart contracts and base layer application of many yield apps on the Binance Smart Chain to create our UI, the CUB token and "Dens" which allow you to deposit and earn yield.

What Makes Cub Finance Unique?

The #1 question - what makes Cub Finance different from other yield apps on BSC.

The fundamental difference is who is behind Cub Finance. When you look at other yield apps, they are built by anonymous devs and groups of whales who coordinate to launch a dApp. There's nothing necessarily wrong with that, but many will argue that there's major upside to having LeoFinance be the owner of this application. A 2 year old project with a lengthy track record of building apps in the blockchain space.

We're using these smart contracts and our new application as a base layer. We've got an endless pool of ideas for new smart contracts, vaults and adaptations from other DeFi platforms.

Similar to our other apps like LeoFinance.io, what you see on Cub Finance today is just a glimpse of what is to come in the future. In our roadmap you'll find a few of our ideas that will be developed on top of the Cub / bLEO platform. Amongst them are the bLEO bridge for converting ERC20s into BEP20s and vice versa, adding layered farming applications, Curve style vaults, synthetic assets and more.

Cub Finance brings reputation and long-term thinking to a space that lacks both. We view CUB as the perfect base layer to build sophisticated smart contract applications on the Binance Smart Chain.

Burning LEO

The docs explain everything in much more detail. Cub Finance generates revenue via vault burns. Most BSC yield projects take a cut for the dev team from every token burn.

Instead of doing that, LeoFinance is burning 100% of vault revenue.

  • 80% of all vault revenue buys & burns CUB
  • 20% of all vault revenue buys & burns LEO

Other applications of this nature (i.e. Goose Finance, Viking Swap, etc.) have generated hundreds of thousands of USD on the low end and tens to hundreds of millions of USD on the high end.

LEO's current market cap is $5m. We started CUB off with a low market cap (relative to other similar apps) at $300k.

We'll let you run the math on how this could play out.

Update: a few bots and DeFi whales have already sniffed out the platform. Before even releasing this announcement post, $15k USD has been collected in revenue on Cub Finance. 100% of this is burning CUB and LEO.

Math is fun.

What Gives CUB Value?

This platform collects revenue from every deposit into CUB vaults and den contracts. That fee is used to burn both CUB and LEO.

The Cub Roadmap outlines a few of our long-term ideas. Creating a bLEO BEP20-ERC20 bridge, layered farming, Curve-style vault contracts and more.

Cub Finance is a great base layer for us to adopt more intricate layers of smart contracts that will attract capital and ultimately lead to more fees generated and CUB + bLEO burned.

Introducing BEP20 LEO (bLEO)

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BEP20 LEO (or bLEO) is our new wrapped token on the Binance Smart Chain. You can now wrap and unwrap LEO into bLEO via https://wleo.io/bsc.

Last time we launched a wrapped token, it was it's own launch event entirely. WLEO received a lot of attention and new capital inflows as we expanded onto the Ethereum blockchain.

Today's launch marks the largest event on LeoFinance to date. We're launching Cub Finance as an entirely new application along with the BEP20 wrapped LEO token on the Binance Smart Chain.

bLEO functions very similarly to wLEO - almost identically, in fact.

The key difference is that BSC has what amounts to essentially 0 fees compared to ETH. A simple TX on BSC is only $0.15 compared to $20-$30 on the Ethereum blockchain per TX.

It took us over 150 TXs to setup Cub Finance and bLEO over the past week. Those 150 TXs cost us $30 which is about the cost of 1 TX on Ethereum.

Many of our users said they struggled to participate in wLEO, the wLEO pool, Geyser, etc. because the fees made it inefficient for small amounts to be pooled.

Now, any amount can be pooled on Binance Smart Chain.

Want to wrap, pool and deposit $50 worth of bLEO? Expect to pay less than $1 in fees to do all of it.

Huge shoutout to @fbslo who was instrumental in so many different aspects of this project. @cadawg is another dev and friend who stepped up when we needed help with some of the UI glitches. They're both witnesses here on the Hive blockchain, so make sure to give them your votes as well.

How to Use Cub Finance

So now you're ready to use Cub Finance and jump into the DeFi space?

By popular request, we created an extensive docs section with tutorials about everything from setting up Metamask to wrapping bLEO to swapping BEP20s, depositing liquidity in CUB vaults and more.

Check out the new docs site and give it all a read if you want to learn more about this project, our future plans and how DeFi is going to play a much larger role in LeoFinance and the LEO (LEO, bLEO, wLEO) token economy from this day forward.

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https://docs.cubdefi.com

Growing Our Community and Onboarding Users to LeoFinance

This lies at the core of LeoFinance. It is and will always be our primary directive to find new users to add to our growing community of crypto users, investors and financial bloggers.

Binance Smart Chain is extremely popular - especially in terms of non-whale users (because of the low fees). This is the perfect platform to position our community as an onramp to LeoFinance x Hive blockchain.

Wen Airdrop

With over 8,000 recipients and the first ever cross-blockchain hybrid claimdrop, it's going to take some time for the drops to roll out and process. Please wait up to 24 hours after this post to receive the CUB in your Hive wallet and then follow the instructions to wrap HE CUB into BEP20 CUB.

Details are being updated in real time... you guessed it, on the Docs!! https://docs.cubdefi.com/tutorials/cub-claimdrop-tutorial

Got Questions?

But ser, the docs!

After the last post, I spent a lot of time designing the docs. If you have questions, need tutorials and want to know our future plans for both the CUB token and bLEO (LEO) token economy, please refer to the docs.

The docs know all! We'll also add more info continuously as other questions roll in that we might have missed.

https://docs.cubdefi.com

Many more posts to follow. Stay tuned for the roundtable podcast and more posts from this account. There is a ridiculous number of releases, updates and info to process here. Please give us some time to organize more announcements of actually products (see what I did there).

See you on the DeFi.

 

 

LeoFinance is a blockchain-based social media platform for Crypto & Finance content creators. Our tokenized app allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.

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I am voting for you... you did not lose any blocks yet =) lOL

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Thanks for your help in getting this rolling.

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No problem - Big props to @fbslo too as he helped with the frontend!

It was really amazing learning about yield farming protocols from a technical standpoint and actually setting one up.

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How is your project going @fbslo?

You making headway on it?

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wHIVE? It's going a little slower than anticipated (mostly because paid projects (such as Cub & bLEO) are a priority. But I'm still planing a launch in mid-April. Part of the code is already open-sourced, remaining coming soon.

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What kind of project? I'm interested too...

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Thank you @leofinance for this amazing work!

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There you go my first stake

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Digging into the docs as we speak ser

Very cool! I am excited to start digging in to the docs and learning more about this!

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I'm way out of the loop with all this. Never been involved in any defi. Is there a walkthrough "for dummies" version of how to do this for people where Binance can't be used? (I'm in TX, USA)

Same here! I just used @brianphobos tutorial and got a little bit of cub to try it out. I haven't yet dug into the docs mentioned here. Total noob here and if I can do it, anyone can lol. I had to set up the Atomic wallet, then the Trust wallet and just followed his steps. Here is the link to his post:

https://leofinance.io/@brianphobos/tips-for-getting-on-cub-finance-without-binance-or-metamask

I now have a few cub and have it staked to earn more

Awesome, thanks for that @tamaralovelace! Will check it out and give it a try. I completely missed the LEO boat but happy to see the success of anything built in the HIVE ecosystem ^_^

The docs on the cub finance site cited in the post are really good.
A couple people have also posted their experiences on line. I have a couple links on my last Cub finance post also that you may find helpful.
The post is short and links are at the end.

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It took me several hours last night to understand enough to enter a pool, but I figured it out thankfully! Thanks @shortsegments. Agreed that the docs are really helpful along with other #LeoFinance posts I read.

Congrats to everyone. The day has finally arrived ... now let's party and celebrate the birth of Cub Finance. Writing history today! On to a very bright future.

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All looks very cool, congrats, I know a lot of people have been waiting for this.. I was quite curious what it's all about as well. Now I need to start reading and find out how to use everything as I haven't used the BSC yet. Now I will have to learn how to :)

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I love how the entire LEO ecosystem is expanding. What a great job!

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" den contacts " I see what you did there :) Great to see a project that is pleb friendly :P

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I just picked some CUB tokens via Trust Wallet. It was a pretty smooth process. I will like to provide liquidity too. Cheers!

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Bravo!
Well Done!
Kudos and Congratulations 🎈
The project sounds great and this statement is extremely important;

Cub Finance brings reputation and long-term thinking to a space that lacks both. We view CUB as the perfect base layer to build sophisticated smart contract applications on the Binance Smart Chain.

Community and Trust.
I came for the Crypto, but Stayed for the Community.
@khaleelzaki et al
Nothing but Respect
👏👏

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Farmin' it!

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Thank you, @leofinance team, you're doing awesome work! Let's get to the top DeFi of BSC. Then we'll look further!

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Cya on the moooooon guys! :D

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Where do I get a BSC address? I have none.
Is there something like Metamask, just for the Binance smart chain?

Edit: Just figured out, there is Chrome extension called Binance Chain Wallet
https://chrome.google.com/webstore/detail/binance-chain-wallet/fhbohimaelbohpjbbldcngcnapndodjp
It works for me, some BNB were transferred already

you can also you metamask

No, I don´t think you can transfer BNB to Metamask.

Thanks, I noticed later

you can also you metamask

[@quekery]Schau mal in der letzten @hiq dort habe ich ein Tutorial. Kannst natürlich auch gerne weitere Fragen stellen.

Die reine BSC Adresse kannst du bekommen indem du dir ne entsprechende Wallet besorgst zB Trust Wallet. Diese kannst du dann in MetaMask einfügen

I am jumping on one foot, thank you very much to the whole team for this wonderful thought and to all those involved for bringing these defi tools to this space :))

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so the good news is finally here.....what everyone was waiting for....

Burning LEO
The docs explain everything in much more detail. Cub Finance generates revenue via vault burns. Most BSC yield projects take a cut for the dev team from every token burn.
Instead of doing that, LeoFinance is burning 100% of vault revenue.
80% of all vault revenue buys & burns CUB
20% of all vault revenue buys & burns LEO
Other applications of this nature (i.e. Goose Finance, Viking Swap, etc.) have generated hundreds of thousands of USD on the low end and tens to hundreds of millions of USD on the high end.

this made me smile while reading it,LEO will go to the moon,get ready everyone....

i must say the cubfinance is a wonderful project,bravo......

Sterling work leofinance

I thought it was going to be a bit complex to wrap my head around (excuse the pun), but following the tutorials allowed me to set up BSC address on my metamask and wrap my first pot of Leo to bLEO, then stake it with some BNB I had lying around on the bLEO/BNB liquidity pool within 30 minutes... start to finish.

All these products and the information documents are one hell of a job of work you've pulled off here.
Congrats, and thanks for making it so easy for a first time Defi pooler to get in easily.

Cheers :)

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Congrats on achieving this milestone! Looking forward to getting active in the pools..

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How can someone who isn't able to use Binance take advantage of their CUB drop?

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BSC is different from Binance. It is open to all since it is not blocked by the CEX.

It is a fork of Ethereum. Anyone can get a wallet.

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"To transfer assets to BSC, you will have to use the Binance Bridge. Bridge is obviously centralized and run by Binance."

"Yet be forewarned, IP addresses from the following countries are barred from using the bridge: Albania, Bosnia and Herzegovina, Belarus, Congo (DRC), Côte d’Ivoire, Crimea, Cuba, Iraq, Iran, North Korea, Liberia, Macedonia, Myanmar, Serbia, Sudan, Syria, the United States of America, and Zimbabwe."

Does Leo bypass this? Because as far as I know and have experienced, you can't get the assets in or out and there tons of complaints about the BSC from people who have tried using multiple wallets.

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Ah I see what you are saying. Good question.

In this situation, though, I am not sure any assets are being transferred in. We are using the link to swap LEO for bLEO and the CUB token is resident on BSC. I havent read the documentation far enough to see how the token on H-E (the coupon) can be used to claim the ones on BSC. I would imagine it has to do with tying a Hive account to a BSC account.

I will have to set up my wallet and link to my account to get it going.

But I see your point. How do we go about getting the Binance token? I guess we could use uniswap.

Maybe some of the BSC experts can help to clarify this for us all.

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Send yer cubs to me.

That was always my reservation, too, @ats-david.

For now, I'm going on the assumption that since several of the driving forces behind LeoFinance are based in the US — Khal is in Chicago, as I recall — there's some kind of workaround for that.

=^..^=

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Have you tried to use
the binance US site?
binance.us should allow you
to use binance token
I will give it a try later.

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An interesting question that spawned an excellent discussion. Thank.

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finally, it is here. I want to give a big shout out to everyone who was instrumental in this launch. looking forward to the growth of these projects. cheers!

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Now we can experience the sicks gains that people could afford on eth :P

Please give us some time to organize more announcements of actually products (see what I did there)

typical.

Regarding this announcement I have the feeling that with CUB and bLEO I will have my first experience in pooling... anything. Waiting for the airdrop and I guess will have to read a bit more from those docs to have a clearer picture about how things work, incentives, fees... etc.

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Just finished reading through this and it sounds awesome! Can't wait to really dive in within the next 24 hours after air drop. Till then I think I'll be spending a large portion of today dedicated to reading the docs. Thank you for all you guys do. Keep it up!

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I need to read the docs at least 3 times and learn what it is to learn (plenty!!!!).

I'm glad the airdrop is not tonight, it'll give us time to digest the docs

Thanks Khal and team, we really appreciate the work you do!

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Thank you very much Khal and the entire team of developers! You will take us to another level of DeFi and it will be amazing you are on that journey.

Thank you very much for the documents that I will have time and the greatest pleasure to read to understand this new universe for me.

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This looks awesome! Great job guys (girls?)! I can't wait to read through everything and then have someone explain it all to me. lol You didn't disappoint. The future looks extremely bright indeed!

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Wow, bullish on CUB token, we have a 100 USD per coin candidate boys!

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Now to just see how many we got. Based upon the market cap numbers in the post, it looks like .06 CUB per wLEO/LP held.

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Best day of LeoFinance is today.

Moon days are coming.

Let’s go 🚀🚀🚀🚀

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Finally we are up and running, I missed out on defi boom coz of high Eth gas fees.

I am glad defi is now home on the Hive blockchain and also on BSC.

I was just checking the cub site and it's well optimized for mobile, great work team.

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Read the docs and managed to get everything set up fine with bleo! The only let down was actually from binance taking its sweet time sending my bnb over to metamask but all good in the end! Congratulations on all the site interfaces too, makes DeFi more accessible 💪

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Well, at least I know what I will do tomorrow night when family is going to bed!

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It is good to have a schedule and things to do. LOL

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Hail the ( Lion ) King!

Boom! Such a great feat for leofinance.

I look forward to learning more about this project as a visit the docs page.

Great job!

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Terrific to see this rolling out. Glad you were able to put so much together with the docs.

I like that you are giving everyone time to digest things. We will have to sift through the docs to get to the root of it all.

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I like that you are giving everyone time to digest things.

who needs ginger tea, if we can have a book work like this for digestion?

I can't wait to get my airdrop so I can start messing around with CUB! Any smarty pants out there already figure out the best way to leverage CUB?

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Wow! This is so awesome. A new opportunity in Leo. I am happy that my decision to be in Leo community was right.
Alhamdulillah

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Thats really good to be heading to new developments!!

But, I'm kind of an idiot in this matter lol, is there any tutorial to see how I can get to use CUB, Stake bLEO and everyting else?

I didn't get to use wLEO because I don't hold ETH, but BNB is different so I would like to use it this time

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Tried connecting my trust wallet to the DeFi site but not responding.

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You need to change from eth to bsc in the top right corner.

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I was able to do it successfully without any glitch. Hope you changed the chain to BSC? Cheers!

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"Cub Finance brings reputation and long-term thinking to a space that lacks both. We view CUB as the perfect base layer to build sophisticated smart contract applications on the Binance Smart Chain."

I'm afraid nobody will care about this at the moment. People are in DeFi for quick profit blindly risking their stakes. But it's good to build a position now and hold it, when the DeFi bubble starts to fall apart.

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Man I have sooo much to learn! I wish it were the weekend.

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This is super exciting! Really looking forward to reading all the docs and start poking around. I kinda missed out on the first wLEO gig because — as you stated — THE COST.

=^..^=

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You made us wait for this. Time to see how good it si.

@rishi556 and i think it is worth the wait....

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This platform collects revenue from every deposit into CUB vaults and den contracts. That fee is used to burn both CUB and LEO.

When we

When we whattt pleaaase😭😭😭

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Okay more in the docs. Will catch up there. See you on defi

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This is going to be fun..:)

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Congratulations @leofinance! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :

Your post has been extremy appreciated and was the most upvoted of the week

You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

To support your work, I also upvoted your post!

Check out the last post from @hivebuzz:

Feedback from the March 1st Hive Power Up Day

Another one
for the tribe.
Another door to serve
the people of Leo and Hive.

!BEER

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It will be interesting to follow. I have no idea where this is going to end.


Hey @leofinance, here is a little bit of BEER from @pouchon for you. Enjoy it!

Learn how to earn FREE BEER each day by staking your BEER.

Finally!!

it's good

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I had been avoiding uniswap, defi and binance as there was enough to be concerned about on the hive blockchain without having to learn even more new things.

I don't don't have enough time in the week to be deep diving into new, exciting and profitable industries.

Now the leo team has forced me to dive I to all of this and spend a lot of time expanding my knowledge and wallets.

An apology wouldn't go amiss. 😁


Great work to the whole team and everyone involved in this massive project. I love the whole scope of what Leo is building and can't wait to see what's next. My only real problem is not having enough Leo. 👍

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In the words of @trumpman? Pump it! Just a puma, but very bullish on @leofinance. There is not one community like @leofinance that moves and shakes like our outfit.

Very very soon; I will be able to help those in the background that are helping new users of the HIVE Blockchain Network with the help of @leofinance.

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Still digesting this, but looking good, Thanks for all your work @leofinance team

@awakening.soul, @mountainhigh, check this out

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I don't think I've ever seen a project this popular have such a smooth launch. Congratulations.

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I am super excited about this!! no time to comment cause i gotta get started reading docs :D

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congrats, looking forward to testing it, Ethereum needs a scaling solution to stay competitive in the long run.

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How to get wrapped eth and bnb to bsc? I'm stuck.

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This is so perfect! I am happy about the bridge!

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Innovation has just become a culture of the LeoFinance community. I'm just speechless with this addition to the LEO portfolio. I've used BSC for a couple of transaction and it's been pretty fine at least with low fees.

Want to wrap, pool and deposit $50 worth of bLEO? Expect to pay less than $1 in fees to do all of it.

I think I'm motivated enough to join this.

Congratulations to us.

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I think I figured it out! Ok so now I just need to get BNB without a Binance account. Trying to send UNI to Metamask and convert it to BNB. Does anyone have a cheaper way?

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YEAHHH IT'S HEREEEEEEEEEEEEEEEEE

ahh i guess for 2 days i will be investing many hours reading the docs!!

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Congratulation!!! Overall #leofinance Team. Being a part of #HIVE Blockchain #leofinance already ruling over #Hive, because Leofinance is continuously introducing us to a different world of crypto and Blockchain. In this way, #Hive is not showing its varieties participation in surviving or competing with other cryptos in the world.

So, I Strongly believe The Marketing and Developing team of #Hive Blockchain should thinking like the Team of #Leofinance.

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The next weeks are gonna be crazy for LeoFinance community!

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It's time to go on a new adventure 😎😎, bags are packed.

Thanks to the cub team for implementing this, you guys are the best

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Congratulation! No words! You're really fucking awesome! ;D

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Is there something wrong with the cert for the site https://cubdefi.com/ ? Getting a security warning in Firefox.

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How can I transfer my Ethereum to BCS? Do I need to use the bridge? I’m in the US

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It's time to Study the CUB Universe. Thank you so much Team LeoFinance!!!!

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Exciting stuff. Took me BEP-20 & #cubdefi to get interested in DeXs and dApps again

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Between the technobabble and insider jokes, I'm left wondering if there's a simplified version for content-creators like me? I own a little LEO (staked and liquid), and I'm wondering how this affects me. I don't intend to sign up for any accounts on other platforms, so if that's required to participate, do I just ignore all this? Thanks.

Well, it would be a waste of your CUB. I think it's wrth persevering. Do you have a metamask wallet? If so i think it will be fairly simply to just claim them on Binance Smart Chain using metamask. You dont need an account on BSC, just a wallet. You dont have to do all the pooling, staking stuff if you dont want, you can just hold the CUB in metamask.

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Thanks for the info. I don't know what metamask or BSC are. It sounds like I should probably wait until a user-friendly pathway exists. I assume other people are in the same boat. Something for content-creators who hold LEO will probably be developed at some point.

This is awesome guys! I have already been on the BSC for a little bit so I'm super pumped about this! Is there a way DOGE can be added to the exchange? The Binance Bridge has it but it seems like Pancake Swap and Cub Finance don't have it.

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This is sick dope! Just tried it... holy crap... I am shiting myself...

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With lots lots lots of 💘love... 😁

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80% of all vault revenue buys & burns CUB
20% of all vault revenue buys & burns LEO

On https://docs.cubdefi.com/tokenomics/vault-revenue-and-token-burns

80% of the 4% burn will be used to purchase CUB and burn it
20% of the 4% burn will be used to purchase bLEO (LEO) and burn it

How can I understand this?

Also I have got a question on how can I use my Binance Chain Wallet (I use it to Thorchain Rune LPing) - can't get to my wallet and can not import it to Metamask (I don't know how)
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Great news. I'm going to make tea, without it, it won't be easy to deal with the documents - https://docs.cubdefi.com/.

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I just read it! I'm glad I waited till the morning, I wouldn't be able to process it last night. Going through the docs now.

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How do we receive our CUB airdrop?

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read the docs

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1000 votes! Wow!

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I'm really dumb when it comes to defi. Can someone please ELI5 about how to start farming and how does it actually provide an insane APR like 95,000%?

I love my cubs. I cuddle with them. I feed them. I watch them grow.

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I just checked and this APR is crazy.. Hope stays for some time.

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❤️❤️❤️❤️ Super post!

And I thought I was going to get some work done today. Now I'm going to have to get a handle on this and fast. Those returns are CRAZZZZZYYYYY!!!!!

Posted Using LeoFinance Beta