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:
- sign-up for an account on the Binance exchange
- download MetaMask (or Trust Wallet, etc.) and configure it to be a BSC Wallet
- purchase BNB (from where?) to cover the fees and move it to the BSC wallet
- create an account on CubFinance website
- transfer the CUB from Hive-Engine to BSC Wallet
- move the funds to the "Den"
- Figure out the "Compound" and "Harvest" operations
- Hope nothing goes awry along the way
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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