If you have been hiding under a rock somewhere lately and not been tuning in to the latest news from @LeoFinance you may not have heard about the latest airdrop of CUB tokens. New LeoFi Products, Snapshot Announcement, CUB Tokens and BEP20 LEO outlines the snapshot of staked LEO tokens and the subsequent airdrop of CUB tokens.
The airdrop we're doing for CUB is one for the history books. If you want to throw a fancy name on it, it's called a hybrid cross-chain claimdrop. What this means is that a snapshot is taken of Ethereum-based WLEO-ETH Liquidity Providers on our Uniswap pair and LEO POWER hodlers (anyone holding LEO staked on the Hive blockchain). Based on the amount of LEO staked or WLEO pooled on Uniswap, users will receive CUB tokens on Hive-Engine. These CUB tokens merely represent a "coupon" or a claim on CUB tokens on the Binance Smart Chain (BSC). Almost like a temporary reverse wrapped token.
So What is CUB?
CUB is a DeFi-based smart contract application on the Binance Smart Chain. We've adapted a collection of smart contracts and Binance protocols to build an entirely new application for the LeoFinance ecosystem.
So essentially, centred on the Binance Smart Chain protocol, CUB tokens will allow LeoFi to occur on BSC which has fees less than 1% of those on an ETH based DeFi like Uniswap.
On CUB's launch day, the team will be releasing documents and a whitepaper outlining the application and how CUB and bLEO will work in this DeFi space. CUB tokens will be airdropped onto Hive-Engine and can then be swapped/claimed through a burn mechanism onto the BSC. More information will follow from the team.
This will open up DeFi to another level for most people who haven't taken the foray into ETH based DeFi. Many LEO hodlers will take the risk on the BSC with lower fees and with risk can come great reward. I will be looking on with great interest at how this plays out and to what extent I dip my toe into the BSC space. Although I have been playing in other DeFi areas, BSC hasn't been my choice of DeFi. That could all change.
Thanks for reading.
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I am really excited about this. I have my funds all lined up and ready to go. I think I am starting to understand some of this DeFi stuff a little more, so hopefully I should be able to navigate all of this!
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Ya We are waiting the airdrop today
I am so exciting
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Which rock? I haven't been hiding under any rock and I am crossing my fingers while waiting for this. :)
Posted Using LeoFinance Beta