Sometimes we are amazed at what people do. It seems a lot do not learn from the past.
Please bear in mind, as you read this article, this is not referring to traders. They operate on their own varied time frames and often can be exiting and entering almost simultaneously.
However, for those who are not traders, we have to wonder what is taking place.
As we know CubFinance is a new project. It just started about 10 days ago so everything is still in the making. The first report of the code audit came back, necessitating some upgrades before the final version is released.
In other words things are happening.
Here is a Tweet put out earlier today:
So where does this tremendous insight come from to make this claim?
The answer is Leofinance's track record. Anyone paying attention to the last few posts, basically since CubFinance was released, notices a similarity between the two. We see phrases that mirror what was used on Leofinance the past couple years.
When there is a mention of CubFinance being a platform which other DeFi products will be build, we essentially are seeing history repeating itself. This was the exact mindset adopted to Leofinance. That is where, for example, CubFinance and ProjectBlank came from.
Thus, we have a history of this development team rolling out products. This is going to be done with CubFinance also. Yet somehow people seem oblivious to it.
Speaking of development, we see this posted in the updated doc section of CubFinance.
LeoBridge is going to be a revolutionary product in that it will allow, from the users perspective, a seamless swap from ERC20 to BEP20. This means any token on Ethereum will be able to use this "bridge" and convert it to any token on BSC.
Then there is this little gem from the same page.
Do those selling realize what that means?
Basically there is going to be a lot of money being used to burn both CUB and LEO tokens. The amount of money that can travel through LeoBridge will likely end up in the tens of millions of dollars.
It is easy to foresee, if this swap feature takes off, tens of millions of dollars traveling through LeoBridge on a daily basis. If that is the case, we could see $25K-$50K worth of LEO and CUB burned each day.
Even without this, there is a lot of CUB being burned. We must keep in mind the inflation rate was 1/3 higher the first week and will be 1/3 lower next week. Thus, daily, we have seen the peak of token distribution. Come Monday, the number of CUB per block drops to 1.
Yet in spite of that aggressive early bird distribution, a lot of CUB is being burned. Here are the latest stats from [the site)](https://cubdefi.com/:
Right now, 11.12% of all the CUB minted were burned. This is a number that increased as we entered the second week. The fact that the distribution is slowing down while the activity remains fairly constant allows the percent to grow.
What does everyone think will happen next week when the CUB/block drops again AND LeoBridge is rolled out? While the later will not have millions of dollars in volume to start, it will generate a couple thousand dollars. This will eat up more CUB that is on the open market.
And we can expect it to grow as the weeks pass with promotion getting more users to the application.
So once again, are people really selling CUB?
Obviously people have their own reasons for doing things and none of us truly knows the situation of another. However, from the outlook, based primarily on Leofinance's track record with development, it seems a bit short-sighted to sell at this moment.
There is a lot more to come which will help to enhance the value of the entire platform. People who are aware of this will likely end up cashing in.
In like, we know there are no sure things. That said, I am willing to go out on a limb here and say this is a pretty good bet.
CUB or LEO, take your pick. Both are going to do very well.
Nothing in this article is financial advice. Do your own research and due diligence.
If you found this article informative, please give an upvote and rehive.
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The process of transferring the CUB and staking it was probably very simple to trading-experts who have done such operations a million times. But, to people who aren't experts on trading, the whole process seemed complex. To successfully complete the operation, one had to:
There was also a relatively short window (about a week, I believe it was) to perform all these operations. People who were offline for a week due to illness or being on "holiday" faced a daunting task when they returned — unless, of course, they are experts on trading/DeFi operations.
Very little assistance was available. People who requested assistance in the LeoFinance Discord (or other Discords) were either completely ignored or derided for their lack of knowledge. 😕 I read only one post that made the process seem halfway simple, but still left many questions unanswered.
So, yeah, I was one of the ones who sold my CUB rather than dealing with all this. When you buy your lambo next week, I might have some regrets at selling my 2.33 CUB, but I feel okay about it now. Since CUB seems to be available for purchase [somewhere? according to one post I read], I suppose people could come on-board with it later, perhaps?
I totally understand you. I wish there was more window to be honest , atleast 2 weeks or 15 days . The docs provided by CUB team helped me a lot in figuring out what is what and how to get things done but I agree with you that those who haven't had DeFi experience before will find it extremely hard to complete the procedure without help .
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Simply not worth the time involved in trying to understand the process to transfer in less than a week for 5 CUB when I have a million other high priority things going on.
After doing this I 100% agree with you.
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i hear ya!
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I feel your pain and know what you are going through with the discord. Sad that it turned into a place like it has instead of where people can get answers to questions that are needed.
Your selling on Hive-Engine didnt affect the price since its tradeable price on DeFi comes from that. So thus it was not exactly what you are taking it to mean.
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I'm just jumping in during the last couple days. I didn't go to the discord but I did find some youtube videos from @stever82 that helped and I watched some more videos to acquaint myself with Binance Smart Chain.
But much of what you wrote is correct. The process of converting hive based assets and bridging them to BSc then exchanging them then putting them into a liquidity pool and then finally a farm is well... not for the faint of heart. I documented a bit of it on a video and it would seem overwhelming haha.
But now I think I'm hooked... for now at least. But for 2.33cub... not worth it in the slightest. Haha
thanks for watching my videos
Barely got my 3.9 CUB parked in my Trust wallet for now.
First, a couple of Acetaminophen 500mg to deal with the headache just comprehending getting that far. Staking/farming will have to wait until my eyes stop glazing over every time I see the word CUB.
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The master of tasks if "defi shaming " us :))) ( I'm joking of course )
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I still have mine (and selling them is not an option), but I still need to update myself more to start investing them in the right way.
This is all very new to me and I am afraid of doing something wrong in the middle of the process.
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I hope you have claimed them and they are on BSC/Cub Finance, otherwise it's too late now.
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I think (some) people think it will sell off more when it 1/3's again, they may be front running that theory. I will have some dry powder waiting to scoop them up if that is true. That's how I grow, not by going the same way as the herd.
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Hi @taskmaster4450le It's my first time in a DeFi system, and I didn't find it so complex because of all the material they created to guide us, rather I'm looking forward to learn more every day. I took my last Leo and also invested it in CubDefi, I want to earn a lot of Cubs.
Thanks for this very complete article, as you say this is just beginning and the market can change a lot. Today I wrote about my experience because in my environment I have seen people investing in DeFi for the first time thanks to Leo Finance. All this movement has reached many people, it's great.
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DeFi is not only complex from a technical standpoint but from an accounting standpoint as well. You need to keep track of your initial trades, your initial stakes in the pools/dens and the cost basis of each coin you earn and later sell. That's not difficult but you must remember to do it. Some people preferred to sell their airdrop.
But that's nothing unexpected. No airdrop is ever held 100%. I think this airdrop was successful in terms of achieving adoption.
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@shtup that is totally true sir....
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I have sold, but not as much as what I have bought. I don't have a lot, only like 150 CUB, but I'm planning on holding them until they are over $10, $20, 5$0, or more.
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I agree with you. I don't sell my CUB tokens and I don't sell my LEO tokens rather I continue to buy CUB albeit in small steps. For example, I have decided that all the SIM tokens I get daily from dCity I will use to buy CUB.
The short term doesn't count for anything, it's the long term that is really important.
!BEER
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Does cub trading continue on Hive engine after 17 March?
no it is no longer possible to buy and sell CUB on Hive Engine.Now you can buy CUB tokens from the exchange section of Cub Finance using bleo (Bep-20) or other tokens.
!BEER
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Harvest CUB to trade for BNB to harvest CUB... its a viscous cycle!
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Shhhhhh while they dump I get to pick up more 🤣 don't forget Uniswap pumped from $5 to $40 it would have kept climbing if it was not for that GAS fees.
CUB to $50 this year
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The unsustainable yields dropping causes a lot of panic.
Those who bought at $10-$13 were instantly salty.
Just a matter of time in the market at this point.
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Good evening, please i was asked to message you because i lack Hivepower due to the fact that my account was hacked..@maxwellelisha19
We've yet to see the potential of CUB. If we were to correlate it with LEO, then we know where it's headed. As for me, it's just accumulation and compounding over there. Selling isn't part of the plan. 😉
-@arrliinn
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I didn't sell my CUB but compounding it with my small amount seems almost worthless. Personally it will probably be put as a set and forget because it will probably be weeks or months before I am able to compound it. The reason why? With a small amount, transaction fees will take a huge amount of it. When I look at it this way, I can see how people can be dissatisfied if they only put in a small amount (i.e. the airdropped amount).
I do think it if it booms then I will earn a decent amount and it's not like I will lose anything by letting it compound.
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I'm only swapping a part of my farmed CUBs to provide more liquidity in the pools! Feels awesome!
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The demonstration of how people don't learn from previous mistakes. The greed for immediate gain overrides the patience to wait for the result in the long term.
worse for them
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I couldn’t agree more.
People are just bad since high school in History and Marh I guess ...
Education is really going down 😆.
Been farming calmly but definitely not selling ! Going to put more BNB-bLEO soon.
What’s your favorite farm ?
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Stake cub to the infinity!!!
WHY THEY ARE SALING cub
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No, but not because I know what I'm doing. I don't sell because I wanted to be in a project from the beginning and finally, it happens.
I read from you and others to understand more.
Thank you!
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I wanted to give my CUB to the lbi fund for the memes :P but I don't think they would have bothered to exchange 1,5 CUB or so for lbi
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I suppose some folks are selling half their cubs in order to put more into the liquidity pools. Otherwise i can't see a reason for selling at these prices and with inflation set to halve next week.
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I have the same visualisation @taskmaster4450 that CUB and LEO are going to do great. Recently learnt about how burning of Tokens helps in reducing its supply and in theory that should increase the price once the demand is high. LeoFinance Team is burning them through several ways so we might see the upward pressure in the price of these tokens in the near future. It's all about the mindset to think long term. I am sure many of the old users of Hive regret today ignoring LEO at first. Those who jumped the boat early are now reaping the rewards through various schemes and projects. It's still not late though 😉
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I wrote about this yesterday. It's amazing how many aren't given this project a chance yet and like you said history is repeating itself. For someone who missed out on the early days of leofinance when the prices were relatively low, I don't want to take chances this time around. I will accumulate as much as I can. And if there is a dump by next week I will buy some. My goal is to have a minimum of about 500 $cub before the end of the second quarter of the year (the price of $cub might pass its ATH then).
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HODLing my CUB to the end!
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I sold a small amount of CUB yesterday, but it was not malicious intent.
Here is my plan:
I harvest and buy LEO, on the Hive engine. Part will be converted to LEO power and the other part will be sent to the BNC.
60% of the BLEO I exchange for BNB. Then I take the 40% BLEO and add liquidity to them with the BNB.
Now these LP tokens are added to a pool and I harvest CUB.
At some point, I will again take some of this acquired CUB and will sell it to again be able to grant liquidity for a token (CUB/BLEO).
I don't think I am hurting Leofinace and Cubdefi by doing this. I am also willing to invest my own capital in LEO and CUB.
Hive and also LEO, offer a wonderful opportunity to enter the world of cryptos for free. This does not mean that you can get very rich with Hive and LEO, without equity, but they offer inexperienced people to gain their first experience, without a big financial outlay.
I will reconsider my approach and change it if necessary. In retrospect, it is better for the young project to forego the sale of CUB/BLEO for the time being and to provide it with "fresh" money.
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I am hoarding all my CUB tokens and keep them to raise and lift me up. I did the same with HIVE and LEO and didn't sell anything, I am with HIVE, second layer tokens and any new ones born from these parents (like the CUB) for the long hall because I trust the power of communities and the potential that is sleeping within here.
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Early adopters never have the ease of use. That's the tradeoff. When you are an early adopter, you see the opportunity way before others and sometimes you have to take a risk and to pass over hurdles to grab and hold it. If we wait for the ease of use, we have already missed many opportunities. It's a choice! But not everyone is an early adopter. I'm glad I am, in this case. So I won't keep reminding myself of the late start with Leofinance.
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I have sold some LEO tokens to obtain CUB tokens, that is about it. Both tokens are going places in the terms of value and utility.
I am in firm agreement with your assessment.
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Tbh made the mistake of selling Leo in the past. Learned the lesson pretty hard and since the way the community of Leofinance has been playing out, I am pretty sure the next gem would be the CUB. Going to HODL my CUBS no matter what ;)
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If they are burning that amount of CUB/LEO, is there a point where they will run out? I know that some of these tokens have a fairly low total number to begin with. The idea of that volume of transactions and funds flowing through the platform are pretty staggering. They really are building something awesome here.
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Maybe some people are catching the time that a lot of people are seeking for CUB's. They're traders or not but I think they will want immediate money. They knew about the burning but still, they're looking for good prices.
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Not this guy!
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I understand you perfectly. My bitter experience says that there are projects that can easily exceed my expectations, for example, the #LEO project. I think it is only a matter of time, perhaps a very short time, to make x10 of the CUB price that we now have.
Gif on the topic of bitter experience
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Some people are swapping Cub for BNB and/or BUSD to put in those pools. I'm sure some people are selling their farmed tokens to extract some profit in these early days since there is so much being farmed. I'm not selling. Just accumulating. But I can see why some would sell some to get some of their "cost" for LEO or whatever out of the market. Some may want to convert Cub into Leo for farming and/or for future airdrops. Lots of reasons.
In my mind, it's not necessarily a bad thing. If they're willing to sell here they weren't "diamond hands" anyway. Get them out and give stronger holders a chance to buy at nice levels. The more that turns over here, the less that will have to turn over as we move up and it will create a nice technical "base" level.
If and when the Bridge comes out and proves successful, it won't take long for people to start seeing the value of Cub and Leo as a whole.
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Way too early to sell any assets
in crypto sphere. This is accumulation phase.
#Cub started in a good note for holders to understand
the effect of long term. #DEFI is the place
to understand the value of crypto in long term.
!BEER
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People have short memories and thinking 6-12 months ahead for most is hard. Users are a little spoiled at LeoFinance, to be honest. Free money!!, yes, please. Keep it staked within the ecosystem, no thanks, that's my money now. When's the next airdrop please?
I've been focusing on the Leo community more since the launch of LBI and I can see it's a very tight community when they want something but very selfish when it comes to actual community work/activities/helping others with the expectations of a few.
CUB is defi farming, in general people pump and dump these as you are aware. They've never seen a farm come from a 2 old year business with an excellent track record, there is no referral link meaning youtube crypto influencers have no reason to promote it. I would say 9 times out of 10 when you see a YouTuber promoting a farming project, the only investment they have is referral earnings. From the CUB finance website, it looks like any other farming project on BSC but behind it, it's very different and maybe some people dont understand it. Farming operators in general remain anonymous. All it takes is a few guys with big wallets and followers (follow the money investors) to find the discord server and boom. $50 million TLV. It can happen so quickly, people new to defi farming have no idea.
I personally believe that CUB is under 2 weeks old and it takes longer than that to get the word out. Selling CUB now is just silly while the ROI's are so good. I mean you can increase your CUB holdings by 10-20% in a week easy by staking are LPings. If the price drops 10%, your still winning cause you have more, if the price goes up, your winning twice.
Cashing out makes sense when the ROI is under 50% but not now when rewards are still so high. Some people will need the money to pay for bills are whatever but from my view (small brain) if that's the case, you should not be invested.
Great post man 😎
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@lbi-token every serious investor should have something called "patience"you cannot become a successful investor if you are not willing to be patient.....
you are totally right with this statement of yours....
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i strongly believe that very soon the selling pressure will reduce and everything will go back to norm and we will now know where the CUB token stands....
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I didn't have much myself but I will admit that I did end up selling it (I now wish I didn't). The reason why I sold it, was out of ignorance. Being a complete noob on this stuff (DeFi Farms), and not having much time to research it properly clouded my long term vision of the project and DeFi itself. Being quite ill during that week didn't help either - so I had no motivation to do any research.
But the main reason, was that I assumed that it had to be moved to BSC before the allotted window was going to close for moving it from hive-engine. I don't own any BNB, which also made me take the easier road of selling the CUB on hive-engine. I didn't understand (and still don't to a large degree) how it all works. At least I made someone happy - they got some cheap CUB.
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Holding both is a no brainer and if people can't see that it is their loss. How many sold Leo when the air drop happened and have been forced to buy back in. Those individuals will just drop further and further behind as they prefer a quick buck. Track record of the team speaks for itself and surely everyone has enough smarts to see this. Clearly not everyone.
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It's true, people have unprecedented emergencies that make them end up selling what they have to pay for the cats, but I know that real HODLs don't sell for any reason.
Even so, I think it is not right to insult lagien for selling CUB, because if you have not given it the money for that person to buy those CUB, why should he bother you?
If you know that the market is recovering, it is not necessary to make a hate post.
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I saw CUB hit $14 and was not interested in selling. I continued to buy more at the $3.50 to $4.00 zone. A quick gain cannot be equated to building a strong position in a new project on the ground floor, especially if the project is solid. Compound and moderately sell from time to time is my way forward from here.
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@taskmaster4450.le, I think we're looking at something that repeatedly plagues the the entire cryptosphere, to some degree: The tendency towards a "cash and run" mindset.
Sadly, a substantial number of people (and I'm not talking "traders" here) are more excited about flitting around in search of the next place they can get some quick and easy cash than actually investing and being part of projects that are building something solid for the long haul.
LeoFinance is definitely a solid for the long haul project. My guess is that the people who are selling cub right now are of the same mindset as the people who were flitting from one "biotech rumor" to another in the stock market of the late 1990s... rather than simply dumping their ching into an Amazon, an eBay or similar.
=^..^=
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