The release of Cub's most anticipated feature - Kingdoms - is chugging along. As we've mentioned in posts, tweets and AMAs, the release is set to roll out in stages.
Today, we're releasing the BTCB-BNB Kingdom which marks the 4th vault migration from standardized Farm/Den to Kingdom.
This migration is important for a number of reasons which have been detailed in a few posts like this one where we described the long-term vision for building https://cubdefi.com into a sustainable liquidity mining platform.
What's a Kingdom?
Cub Kingdoms are cross-platform, autocompounding yield vaults. This is a fancy way of saying that Kingdoms are built on top of smart contract vaults that allow you to:
- Deposit cryptocurrencies
- Earn yield from external host farms (i.e. Pancakeswap, Bakeryswap or Belt)
- Sell that yield (CAKE, BAKE or BELT) back into the base asset pair and re-pool it (autocompound your deposit currency)
- Earn yield in CUB
In essence, Kingdoms allow you to farm 2 platforms simultaneously: the Host Farm (PCS, Bakeryswap, Belt, etc.) + CUB Reward Multipliers on top of it.
This leads to higher APYs for our users (since you're earning from two different currencies simultaneously) and most importantly it leads to a FAR more sustainable tokenomic model for CUB.
The following are some infographics showing the change in CUB's tokenomic model. The Kingdoms Vault Migration is our shift from the GooseDeFi platform model (unsustainable) to the Autofarm platform model (sustainable).
Kingdoms vaults pay far less CUB than standard farms/dens but maintain high APYs. This is achieved through smart contract technology that takes deposited funds to external host farms and pools those funds there to yield farm the host cryptocurrency.
For example, the ETH-BNB farm utilizes the Pancakeswap platform. This means that ETH-BNB deposits earn CAKE rewards + a small CUB harvest (1.5x multiplier vs. the 6x multiplier on the old Cub Farm vault. Additionally, your CAKE rewards will be sold autonomously back into ETH-BNB and added to your staked vault position on Kingdoms, leading to higher APYs since the autocompounding is far more efficient than manual transfers.
Why is This Bullish For CUB?
If you rewind the tape a few months, we all realized the unsustainable model that CUB was built on. GooseDeFi led the charge in this revolution of new platforms popping up on the Binance Smart Chain that allowed users to yield farm at ridiculous APRs.
EGG went into a state of steady decline and platforms that copied that tokenomic model (like CUB) went along with it in the months that followed.
This is when we decided to research more advanced smart contract technology. Rather than simple yield vaults that paid only CUB harvests, we decided to adopt the approach taken by far more successful platforms like Autofarm.
Today, we're 3/7 in the Kingdoms vault migration. If you look at the CUB price, we've actually reached an interesting state of equilibrium between buyers and sellers. CUB is no longer declining in price as it was prior to the launch of our first 3 Kingdoms.
We've designed the entire Kingdoms release in such a way that we believe a turning point is being reached for the CUB platform.
The overall inflation that is directed toward Kingdoms is nearly 4 times less than the inflation directed toward our old Farms/Dens model.
We're currently seeing the impact of deprecating the DOT and ETH-BNB farms. Once these were migrated to Kingdoms, we saw a massive drop in the selling of CUB.
Much of the selling pressure on CUB in the past few months was from capital that entered the Farms/Dens (i.e. BTCB-BNB, ETH-BNB, BTCB, ETH, DOT, etc.), paid a one-time 2% deposit fee and farmed an extremely large amount of daily CUB rewards essentially for free. This is the Goose model and it clearly has sustainability issues.
With Kingdoms, we're turning the concept of yield farming with CUB completely on its head. Now, yield farms on Kingdoms earn a very low CUB Multiplier but they maintain a high APY by stacking yield with platforms like Pancakeswap, Bakeryswap, Belt and others in the future.
Additionally, Kingdoms don't take a one-time deposit fee. Instead, they take an ongoing management fee on the CAKE, BAKE and BELT yield farming rewards. Kingdoms take a 7% management fee on these rewards and autonomously buyback and burn CUB. A separate 3% management fee is taken and distributed back to CUB Kingdom stakers as liquid BNB Rewards (this feature will be turned on shortly after the full migration of Kingdoms).
There's a very specific reason why we spent so many weeks/months designing, developing and implementing Kingdoms. We believe it marks a major turning point for both the CUB price and the long-term viability of the platform as we continue to spend the months and years ahead developing and adopting more complex smart contracts to allow for various DeFi operations like yield farming, synthetic assets, collateralized loans and more.
We're at the very beginning of a long journey for LeoFinance's DeFi branch through CUB, BSC and (soon) Polygon.
BTCB-BNB Migration
The BTCB-BNB Farm currently has $400k in total liquidity (TVL). This $400k is earning CUB at a 6x multiplier.
As of this post going live, this BTCB-BNB farm has been deprecated. If you deposited funds here, it's time to migrate to the BTCB-BNB Kingdom!
The BTCB-BNB Kingdom we developed is built on the Bakeryswap platform. Pooling BTCB-BNB LP tokens into the Kingdom will earn BAKE token rewards that our smart contract will autonomously sell back into BTCB-BNB LP tokens and re-stake it for you (autocompounding).
The Kingdom has a 1.5x CUB Multiplier for rewards and the same management fee structure as all of the other Kingdom vaults.
The Final 3 Kingdoms
The final 3 Kingdoms to be migrated are BTC (den), ETH (den) and USDT-BUSD/DAI-BUSD.
This technically marks the deprecation of 4 dens and farm but the existing 2 USD stablecoin farms are being migrated into one USD stablecoin Kingdom instead of 2.
The official roadmap for LeoFinance's major DeFi releases is currently:
- BTCB-BNB Kingdom Migration ✔️
- BTC Single Asset Kingdom
- ETH Single Asset Kingdom
- USDT-USDC-BUSD-DAI BLP Stablecoin Kingdom
- Polygon Platform Release
- pLEO Launch
- Polygon LeoBridge Extension
After the above roadmap is complete, we'll release an updated schedule for the buildout of more long-term Kingdoms as well as our "Yolo Kingdoms" feature which will allow users to discover and deposit into more risky Kingdoms with higher APRs but obvious risk displays on our UI.
CUB is becoming a one-stop shop for DeFi through the LeoFinance project. Our roadmap is extensive and includes the above list along with a wide variety of longer-term smart contract releases. We're just getting started but the full Kingdoms rollout will mark a major turning point in the CUB Charts (wen $3+ CUB?).
LeoFinance is a blockchain-based social media community that builds innovative applications on the Hive, BSC and ETH blockchains. Our flagship application: LeoFinance.io allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.
| DeFi Platform | Tokenized Blogging | Track Hive Data |
|---|---|---|
| Cub Finance | LeoFinance Beta | Hivestats |
 |  |  |
| Native DEX | Wrapped LEO (ETH) | Hive Node |
|---|---|---|
| LeoDex | wLEO On Uniswap | Witness Vote |
 |  |  |
Posted Using LeoFinance Beta
What if this post rewards would go directly to CUB burns?
Just with this feature. Is it in progress at the moment and backdated to the launch of the cub kingdom or will it just be enabled when all kingdoms are migrated?
Posted Using LeoFinance Beta
From what I understood from Khal in one of the answers in AMA, it's already implemented, but it will be turned on after all kingdoms are migrated. Until then the 3% fee for Cub staking goes to Cub Treasury.
Posted Using LeoFinance Beta
Thank you for this great question and answer. But therefore, would the treasury funds pay back these fees as soon as it is turned on ?
Or would it pay just the current ones since the activation of dividends?
If the old fees will stay in the treasury, we might ask what their use might be. Marketing/Insurance fund....
Posted Using LeoFinance Beta
Unless my memory fails me, because it's been a while since that AMA, ALL the funds collected in the treasury for the purpose of paying dividends will be paid out once the feature is turned on.
Posted Using LeoFinance Beta
I have not seen any girl more beautiful than Kingdom posts 🤤🤤
Posted Using LeoFinance Beta
Haha, I think you might need to go to the doctor and share your feelings. This is CREEEEEEPY xD
Posted Using LeoFinance Beta
Cool update! Things are moving in the right direction, that is for sure.
Do you plan in the future to have a bLEO kingdom? This would increase the value of LEO.
Posted Using LeoFinance Beta
We cannot as of yet because no other platform is listing CUB or LEO. Once we find a partner that would like to, then we could make a kingdom out of them.
Posted Using LeoFinance Beta
Great work! Hope to see the rest of the kingdoms soon.
Posted Using LeoFinance Beta
They can't come fast enough but we are moving in the right direction. And that makes me happy :D
Posted Using LeoFinance Beta
Don't forget to migrate from the old BTC-BNB Farm (visit the "Inactive" tab on the /farms page).
Posted Using LeoFinance Beta
Cub emblem on the moon, that's all I needed to know :)))
Posted Using LeoFinance Beta
You nailed it with this summary!
Posted Using LeoFinance Beta
I'm a simple guy Cub on Moon is all I need :)
Posted Using LeoFinance Beta
Come get some !PIZZA before its to late
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I am excited to be at the beginning of this journey and continuing with you! Thanks for helping me learn and invest!
Posted Using LeoFinance Beta
Hungry, have a slice of !PIZZA :-)
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@bearbear613! I sent you a slice of $PIZZA on behalf of @cooperclub.
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I definitely have to check this out! You guys have been crazy busy it seems like, and it looks like the community is experiencing phenomenal growth! I started posting again like last week and I'm easily earning triple or more through LeoFi compared to Hive/PeakD.
Keep up the kickass work and growth, friends!
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Slice Of !PIZZA
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@nulledgh0st! I sent you a slice of $PIZZA on behalf of @cooperclub.
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Nice.
Some questions. What benefit do the BTC Single Asset Kingdom and ETH Single Asset Kingdom offer?
Is the APR from other farms so high that the management fee is worth it?.
The second is, I remember the CUB Kingdom should get an increased multiplier. Is there some date for it? I don't like the idea other Farms earn more CUB than the CUB den, this should be the top-notch place for it.
About the Yolo Kingdoms, I think this will CUB turn around to a massive demand token. First because of fee generation, second, one place, and a lot of token farms with yolo apr :D
About Multiplier in general, i think they can be low as 0,5x-1.5x for kingdoms. So they don't need to adjust in the longer run. Only the Cub ones should bring higher ones.
Posted Using LeoFinance Beta
I'd like to attempt some answers to your questions.
Single-asset kingdoms (BTC and ETH) are for people who don't want to expose to impermanent loss in a dual-asset kingdom.
It is a change of model in the first place. The existing model for farms and dens is unsustainable economically. The fee(s) represent 10% of the rewards received on the external platforms (that's CAKE, BAKE and BELT token rewards, so far). If the APR of the CUB rewards are more than 10% (and they currently are for all kingdoms), that means you practically still earn a better overall APY than on the base platform, even after the management fees are taken out. Plus a big chunk of the management fees is for burning Cub and another one is for distributing it as BNB to Cub stakers. So, it's practically returned to us in a way or another.
If I remember correctly what Khal mentioned in one of the AMAs, that should happen after all the kingdoms migration, so after all the multipliers from the disabled farms and dens get freed.
Posted Using LeoFinance Beta
As long CUB profits long-term from it, it should be nice.
This all cannot roll out fast enough. CUB is a serious moonbag coin... especially at $0.57! Thank you for your hard work on this project... cannot wait to farm on polygon too!
Posted Using LeoFinance Beta
Let's KEEP HODLing ! To the mooooooon
Posted Using LeoFinance Beta
Just keep grinding them out. It's fun to watch this grow from infancy to now starting to stand on its own two feet. It won't be long until its running (and climbing). This shit is too good to stay priced here for much longer. I'm not complaining though. Still filling my bags with cheap CUB.
Out of curiosity, any idea when audits will be published? I know it's not in your control but it would be great to see them show up in the Certik section...
Posted Using LeoFinance Beta
Nice nice nice
Very cool now I need to get more BTCB and BNB to pool!! Thanks for the continued hard work, I have been tracking my CUB Kingdom and its growing as forecast, well done.
This sounds very nice. I am thinking of whether or not I should make next month's add into the Farms or the different kingdoms available.
Posted Using LeoFinance Beta
Very exciting times ahead ! I remember thinking these Kingdoms were a turning point. It seems it is happening in front of our eyes.
It is also very nice to see that you added a new yield platform provider (BakerSwap) so we can have more options in the future and are able to connect to different platforms.
Cheers and Keep BUIDLing !
Posted Using LeoFinance Beta
$Matic single vault please! 😁🙏
Moving to Kingdom now or later?
I have some funds in the CUB-BUSD, CUB-BNB, and BLEO-BNB farms. So far I have been putting it off to reorganize them in the kingdoms, mostly because of all the CUB I'm receiving in the farms (particularly in the fist one). Also, the BNB rewards are not turned on until the migration to kingdoms is complete.
The other thing holding me back is having to use the host farm exchanges for kingdom LP tokens. Though they probably work just like the CubFinance interface, it's that extra step outside of home.
Does anyone know any good reasons speaking for the immediate relocation of my funds from farms to kingdoms? Maybe something I haven't considered? Otherwise I don't mind waiting a few more weeks.
Posted Using LeoFinance Beta
This is great stuff, gonna follow YOU!! Here have a slice of !PIZZA
Posted Using LeoFinance Beta
@leofinance! I sent you a slice of $PIZZA on behalf of @cooperclub.
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Clear roadmap and tokenomic model with a strong commitment!
That's why I already put my legs in CUB. It's not much now but it's just the beginning :)
Posted Using LeoFinance Beta
Seeing these positive adaptions during these low times shows what a good long-term asset this will be IMO.
Posted Using LeoFinance Beta
What benefit do we get from the non-cub single asset Kingdoms? By we I mean the Cub stakeholders. They do not provide liquidity nor do the depositors have any stake in the platform, From where I stand it looks like they would just be a source of selling preasure.
I've been a kinda lost with the track of development within CUBFinance. I'll have to dedicate days for an extensive readup and research.
Posted Using LeoFinance Beta
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Thanks for the update.
The wallet of @leo.bounties is insufficient. This happened twice now, is there an issue?