Since I entered CubDefi after losing a few dollars on one of the many scam projects currently on BSc, I have enjoyed a life of peace and quiet.
As with any movie that opens by a serene lake, things might just get bloody.
After being banned from the CubDefi Telegram group - I am innocent, this is just a jab - another partner in crime sent me a DM that they could not see anything about the Cub audit on Certik. It seems Certik shows which projects they are auditing but I think maybe they use the word "onboarding" for projects that are busy integrating.
Pretty crazy setup they have going but regardless based on that I could not see CubDefi on the site and wonder: "Does BSc really give a shit?"
Maybe the big money care but an audit does not really speak to anything, the new game to rugpull is anyway just let the token dwindle as founders ect dump their stash. Certik is not stopping anything they are just making sure people are sneakier.
Just my opinion.
Bridging the divide
Next we are waiting on the bridge. If it has not been clear I am talking about CubDefi.
The bridge at first glance seems like this amazing opportunity, the one thing that will have many Erc20 tokens waltzing over to BSc...
I had that in mind. A bridge that will auto-generate you the corresponding BEP20 token. A bridge that will allow you to maybe stop the process at one of the other pitstops, namely: Provide Erc20 -> Exchange to WLEO (1) -> Withdraw to Leo (Hive-2) -> Wrap to BEP20 (3)
I was mistaken it is just straight up 0-3 non-stop, all aboard.
Now the bridge is still a great addition and there really is nothing like it in the space, and for all intent, if you want to dump some crappy Erc20 and just buy whatever Bep20 then that is a huge market I would think.
The way I thought about it though is more in line with classic utopian convenience and that brings us to time.
I do think CubDefi is very fortunate that they have the Leo community and probably a few bigger holders from BSc who have been burned by some of these damn farms. These are the people just holding because that is what they do.
So on one hand Leo has gotten itself a bit in a bind by how quick they moved and that initial enthusiasm as with any tech project underestimates the sheer amount of work required to bring all the pieces together.
In development whatever the manager quotes as the time you have to at minimum 3x that to get the real development time. Because shit happens.
So my Chickens
Half of that was the liquid I used to play on the exchange and just Defi hop a bit here and there and now I get to visit it anytime without supervision and stroke my screen.
So yeah, a person does get a bit antsy when things like an Audit, development progress and a bit of a disconnect with the new ecosystem in terms of marketing arise.
Although I do miss having my Chickens running around laying eggs, some of which are rotten I do think I will be fine raising some Lions and they may take longer to grow up but I am pretty sure they outlive their Chicken brethren on average.
Posted Using LeoFinance Beta
Once concern I noticed is that the user who helped create the WLEO wrap has posted the code open source and stepped away for personal reasons, to return later, but unless someone else decides to work on it, I doubt there will be much development for the ETH bridge. I don't particularly use Ethereum though, but other users do.
Did not know that, although I think they are competent enough to not just chill then and either have more than one solidity dev or would have onboarded someone and maybe that causes a few days delay as the new dev learns about hive and a bit of BSc internals. I feel like the Wleo wrap code would be the default contracts most use hence the opensource repo and once the contracts are deployed they are pretty much open also. I think.
As for the bridge, the bridge is going to cost a lot to even use and for some, that is not an issue at all. Just looking at the money that does go into these farms I would say average and lower holders are not the main demographic and that is fine, they won't make money if we were. I am actually about to read this which is related. https://leofinance.io/@edicted/erc20-bep20-bridge
Just having the bridge is if nothing else a marketing tool and who knows Eth might really fix gas then it becomes not just a expensive convenience but a real utility.
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