Hey everyone! As you may have noticed, the PancakeSwap API for V1 had a major outage over the weekend.
This outage impacted the AMM site for CubFinance (https://exchange.cubdefi.com/). We found the issue and deployed a full workaround for the API yesterday (Monday, September 13th).
The outage comes at an interesting time for CubFinance. We've been preparing - from a technical side - to migrate from PCSv1 to PCSv2 for quite a while now. This migration is extremely important, as seen by outages like this, swap fees, the bLEO bridge and more.
In this quick post, we'll preview our migration and set a date for when we plan to do it: Tentatively set for Monday, September 20th. More announcements leading up to this day will be released as we approach.
Migrating to V2
Our migration to V2 is more important than ever. We've built Kingdoms - which utilize V2 or V2-like platforms.
We've built a decentralized IDO mechanism - which utilizes V2.
Now, it's time to migrate CUB-BUSD, CUB-BNB, bLEO-BNB (and DEC-BUSD) to V2 as well. These are the 4 remaining farms and liquidity pairings on CubFinance and the migration of them will mark another major turning point for Cub as a platform.
Note: we believe the Splinterlands team will handle this migration for DEC at the same time we do but it hasn't been 100% confirmed yet for the day we've chosen. Stay tuned for updates about DEC-BUSD as we get closer to Monday.
What We Need to Migrate
We've already built out the tech for the migration on the backend. The key aspects were around building handling for V2-enabled vaults.
We secretly tested our ability to handle V2 vaults with the CAKEPOP-BUSD vault on CubFinance. This farm is already on PCSv2, as many have noticed by this point.
Now that we have this tech performing well, the next 4 major steps are:
- Migrate the CUB, bLEO and DEC liquidity pools to V2
- Migrate the /farms page to handle only V2 vaults for these pairs
- Rebuild & Redeploy our AMM page to handle V2
- Deprecate V1
- Handle the logistical move from V1 to V2 as a community (users need to unstake from the V1 vaults, unpool from V1 LP
What You Need to Migrate
If you are a user of any of the following vaults, then action is required:
- CUB-BUSD
- CUB-BNB
- bLEO-BNB
- DEC-BUSD
We'll continue to post about these changes - tutorials, logistics, technology, etc. - to make the transition as smooth as possible.
If you are in any of these pools, then you'll need to:
- Unstake from the /farms page
- Remove liquidity from the AMM liquidity page
- Visit the new V2 liquidity page and add liquidity back into the new V2 pool
- Revisit the V2 /farms page and stake your new LP liquidity tokens
- All done! You'll be on V2 and earning CUB once again 🚀
IMPORTANT NOTE: It's best to migrate liquidity during our 24 hour migration window. During this time, we'll have 0% deposit fees on impacted vaults (bLEO and DEC). This will allow you to migrate to V2 without paying an additional deposit fee and will also allow the logistics of this migration to happen more smoothly. Wait for the post and announcements for the migration day and move your liquidity on that day for the smoothest experience.
While it may seem like a few steps and a couple of transactions, it is not actually that difficult to migrate to V2.
We've put off this migration as long as possible but it has come time to make this happen. It's also important for the future of CUB as we have a number of new contracts and features being released before the end of the year that make use of V2-enabled platforms. vCUB DAO Staking and other features are right around the corner but this V2 migration needs to happen first!
We also have 2 upcoming IDOs that use 100% CUB. While these don't use V2 (since there's no CUB-BUSD LP like the first IDO), the platform(s) that are running the IDOs utilize V2 and they will want a V2 pairing for the farms they deploy on our behalf (CUB-BUSD V2, CUB-BNB V2 and a new CUB-BTCB V2).
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
If you do a detailed guide post, as suggested by others in the comments, could you add screenshots rather than just text?
Thanks.
Posted Using LeoFinance Beta
Yep and most likely a video for good measure
Posted Using LeoFinance Beta
A video would be super brill. Especially is you used the DEC-BUSD pool as your example. 😂
Posted Using LeoFinance Beta
This is the most confusing thing to me.
WHERE is that "V2 liquidity page" ???
Why can't you give us a LINK ?
V1...V2... how I would know. If I feel lost, I imagine how many others may feel completely helpless.
Posted Using LeoFinance Beta
reading all of the post....
Posted Using LeoFinance Beta
🙏🏽
Posted Using LeoFinance Beta
The V2 page is not live yet as V2 CUB is not live yet.
When it is live, there will be a link.
Alternatively, users will be able to use PancakeSwap’s AMM page (which is V2) in order to add liquidity.
Once the V2 update is live, all links on the site will point to V2 - whether that’s our internal CubFinance links or Pancakeswap directly.
This goes into the great point I made in my comment to Rolee below; there are a lot of logistics into this move. We want to ensure maximum ease of use, education and awareness about the migration. Important not to rush this change and we’ve taken our time to prep for it leading up to Monday.
Posted Using LeoFinance Beta
Presumably it will be in the hyperlink shown below, once clicking on the "Details" hyperlink at the bottom of each Farm:
That is, if Khal's developers follow past practice and get the hyperlink pointing to the right place ...
Great point. The LeoFinance community has a wide spectrum of experience and tech know-how in it, which I think is what we want. At least if we truly want to work toward "mass adoption" ...
Given there is +$3.7M (at the moment), in the affected V1 farms, we can all expect a well written post in the next couple of days spelling out step-by-step exactly what needs to be done next Monday (if this projected execution date holds up ...) @onealfa.leo.
Onward and upward! 🦁🚀
Posted Using LeoFinance Beta
can we have a detailed guide-post of how we can do that? Even though it may seem simple for some i remember a bunch of others that took some time and many questions in order to get into the farms etc etc. So the same ones will need a similar post-help to unstake and do the migration
Posted Using LeoFinance Beta
Yep, we'll put together a few posts with details on how to do it!
Posted Using LeoFinance Beta
It's great to see that we are moving to v2, this will improve the liquidity available for the leobridge, once its migrated too
Exactly. Big play for LeoBridge in the long-run. The tech on that is a bit of an upgrade, but we'll try to squeeze it all within the same week
Posted Using LeoFinance Beta
Thanks a lot for the update guys. It's all good and I BSC (bought some cub). 😍🚀
Posted Using LeoFinance Beta
Hahahaha love that!
Posted Using LeoFinance Beta
🚀🚀
Posted Using LeoFinance Beta
If you take a little break
you can be left behind.
Keep it moving team.
!BEER
Posted Using LeoFinance Beta
Forward! Always!
Posted Using LeoFinance Beta
Marking down Sept. 20th lets upgrade and crush defi!
Posted Using LeoFinance Beta
🚀🚀🚀
Posted Using LeoFinance Beta
Great to see the migration put in motion and that's something we've all been waiting for. A needed move which should probably help with maintenance and maybe help with v2 available features if any.
Posted Using LeoFinance Beta
The migration - along with Kingdoms, IDOs and our upcoming vCUB DAO feature - is perfectly timed. I think waiting turned out to be the smartest move in the context of other platforms. There are a number of reasons behind that, but we essentially skipped over 3 major infrastructure upgrades that would've been done separately but now are all done simultaneously
Posted Using LeoFinance Beta
I would like to see some more details on the basic steps to migrate over and do we know when the v2 farms will be available?
Posted Using LeoFinance Beta
Posted Using LeoFinance Beta
As I have had a significant amount of $$s tied up in CubFinance since day 1, I would sure like to understand why you waited this long @leofinance. In last week's AMA, you stated there was no benefit to CubFinance in waiting.
How about the cost then? There have been considerable "minor" costs for weeks now, but ... Not going to elaborate, as we are here now. With PancakeSwap "deprecating the V1 API" more or less forcing the issue ...
For the sake of the members of the LeoFinance community involved, I hope this all goes smoothly and, once this experience in the cost of procrastination is behind us, that it will be "lesson learned" for the next time. Anyone with any experience in life at all knows there is always a "next time" ...
Posted Using LeoFinance Beta
Actually you have it reversed. The "procrastination" is for us to build technology to make the transition as smooth as possible for our users.
Unlike Pancakeswap and other platforms that just foist changes on their users with very little notice. Changes that often cause heavy downtimes, headaches, lack of clear guidelines..
We could have foisted this change on everyone several months ago. Doing so would've caused weeks of headaches for every single user. We chose the better option of building our bigger ideas and pushing this off to the last minute so we don't need to impose any additional stress on our users.
Posted Using LeoFinance Beta
Nice information but we new born baby in the site are still confused.please can you explain it with a video
Posted Using LeoFinance Beta
A little off topic... but I've been struggling to use the LeoBridge since Saturday. I'm trying to swap WETH on my Ethereum MetaMask network for CUB... and after pressing the Swap button... it just seems to spin 'Swapping' forever. I sent you a DM on Twitter about it on the weekend.
I like it. We're continuing to move in the right direction. One question: will this migration have any impact on our audit(s)? Will they need to be redone?
Keep up the great work! I'm definitely looking forward to everything coming down the pike in the weeks and months ahead.
Posted Using LeoFinance Beta
So if we have Cub or Cake staked in the auto compounding Kingdoms, then no action is needed right?
Posted Using LeoFinance Beta
I am so pleased to read this article. I wish to know more about it. Could create more contents about it. You can provide me the links if you have other content regarding this. Thank you
Posted Using LeoFinance Beta
Thank you for the update and your CakePop secret test :D.
Let's move everything on V2 and we should be okay for a few months without any migration.
Stay safe,
Cryptolemon
Posted Using LeoFinance Beta
Glad to hear it’s working now!
Posted using dapplr
View or trade
BEER.Hey @leofinance, here is a little bit of
BEERfrom @pouchon for you. Enjoy it!Learn how to earn FREE BEER each day by staking your
BEER.Thanks for the update lads.
Like most here, I'm looking forward to the tutorials.
Posted Using LeoFinance Beta
What if I can not migrate on Monday? Does it have any negative effects besides that I do not earn CUB for the time I am still in CUB-BUSD and BLEO V1 LPs?
Posted Using LeoFinance Beta