The next two are a lot bigger than this one. I am wondering what the likelihood of those being sold completely. There has to be a large following of those projects to get it done.
It is unlikely that millions can come from the Cubfinance community. Possible but I am not sure it is likely.
We need a couple more years of asset growth before we are each to that point.
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What really needs to happen is that outside money needs to come in and buy the CUB that gets burned. My Cub/BUSD contribution to this first IDO came from not harvesting my dividends for a few days. So, the CUB I contributed was "dead" Cub anyway. It was never going to hit the market. I'm sure the majority of the 200k Cub contributed to this IDO was also diamond paw Cub tokens. So while it is awesome it all got burned, it actually hurt the price rather than helped it as I, and others like me, had to sell some of the CUB to raise the BUSD portion of the pool.
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Obviously taking large chunks out of circulation can only enhance buying pressure if the supply dries up, but at the same time, we certainly don't want to take 3M CUB out of circulation and get to a point where there's no liquidity to buy anything either. The idea is to increase distribution, not cut it down to where only a few hold most of the supply.
Still some logistics to be worked out on how this all works. I'm not sure if it's been talked about (or if it's even possible), but maybe a better way to do one of these IDOs would be to raise the money in strictly BUSD and then the CUB team can take their half and buy the CUB off the open market. That would at least enable the price to be stabilized at a certain level. The problem with that solution though is that there would have to be some trust involved in handling all that money. It would probably be pretty tempting to use some of that cash in other places.
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So, who knows? All of this is very theoretical right now and I'm sure the team is learning a lot as we go. Hopefully they can find the right way to go about this where we are burning lots of Cub but also helping support higher prices. Like I said, if the majority of the CUB coming into these IDOs is coming from HODLers accounts, then the burn isn't really accomplishing anything other than probably moving the APY's back up in the Kingdom Den and the other CUB pools. As it is, the only CUB really being burned this time around is CUB that was never going to hit the market at these low prices anyway....
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That makes sense. It will require outside monies coming in, we agree on that.
It is good that we were able to offset a few weeks of Cub production with this one IDO.
If we can get one done a month, for the next year, that will help to counter the inflation on Cub.
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