Why I Put $60K On Cub Finance
The screenshot is just of the CAKE on one of my wallets.
It is funny because initially I was staking CAKE to earn more CAKE on Pancake Swap and then I learned you could earn a better return doing that on Auto Farm. I have been in the Binance Smart Chain ecosystem for 21 days and understand it pretty well.
Suddenly when the LeoFinance Devs launched Cub Finance I was all about it. I think what they have done is amazing.
Creating a spider web to various liquidity pools. Let's think about it. Being built on HIVE you have access to that ecosystem and the HIVE dollar / HIVE combo. You have connection to exchanges on that end like Binance and ProBit. The HIVE dollar paying 3% interest could be useful in the next bear market.
LEO itself has better tokenomics than HIVE so retaining the value in LEO has been advantageous over HIVE.
wLEO or wrapped LEO creates a liquidity bridge to Ethereum which is huge. Providing an outlet for people to also earn by providing liquidity there.
Cub Finance and bLEO create a liquidity bridge to the Binance Smart Chain which is a gateway to all these other assets that live on other chains such as Cardano, EOS, Bitcoin, Ethereum, Polkadot and the whole gambit of stable coin offerings from USDT, BUSD, USDC, and DAI to name a few.
With the exchange offering in Cub Finance you can also get to CAKE which trades very similar to BNB and is listed on HotBit which doesn't have all the KYC restrictions and bridges you to all sorts of other assets and can on and off ramp you from the Binance Smart Chain. On the full other end of things ProBit having HIVE is big because they don't have all the KYC stuff as well so users can sign up quick and have access. A lot of exchanges have outright blocked US Customers in the last couple of years so we are becoming financial refugees.
Between ProBit, Hotbit, HIVE, LeoFinance, Uniswap, and Cub Finance the possibilities are endless in a bull market or bear market. A lot of strategies and gains can be made.
New People Onboarding To The Binance Smart Chain
I noticed there were a lot of the LeoFinance community that wasn't on the Binance Smart Chain but since this was from the developers of LeoFinance they were confident to dive in when before PanCake Swap, Venus, AutoFarm .....etc hadn't attracted them. The trust that has been built has been huge.
Most of these platforms have unknown developers and don't have a blogging platform to promote and incentivize content creation regarding access to the system and how to participate.
I wouldn't have put this much money in if it was a new platform by some random group out on the web.
This will spread through HIVE and STEEM as well as a lot of blogger's other accounts on Publish0x, YouTube, LBRY, and many others.
Strategies
The strategies are honestly endless with this stuff. Early on the return was so high for CUB that I converted half my CAKE to CUB and staked that. Ultimately earning more than I would have just having my CAKE on AutoFarm. Then I took those earnings and bought my CAKE back and a couple ETH and went into the single asset dens. I took the 4% hit which is brutal but I did the math and determined I could make it back in a day or two. After that I would have the Goose that lays the Golden Egg.
I then brought in Ethereum and USDC and took the hit again in the single pools. It is brutal to take that 4% fee but once you get past it stuff can really accumulate. With the CUB I'm earning I'm staking it to earn more CUB while the returns are still high. Once my fees are paid for I can keep earning and branching out into other liquidity pools and keep building.
It Takes Awhile To Learn
I know a lot of people are still in the learning phase with the Binance Smart Chain. I was on day 21 of getting on the BSC and figuring things out on the other platforms so when this launched I was in a solid position to react.
Why So Deep Now?
I got on STEEM in 2016 and have been in these ecosystems since and I never went this deep in STEEM or HIVE or LeoFinance. LeoFinance was like a diamond in the rough and overtime I finally woke up to the reality that it had better tokenomics than HIVE. So I sold a little HIVE for LEO and I didn't know what to expect from LeoFi and then suddenly I see it is on the BSC and over the course of 12 hours I switched over several assets that I already had here.
It goes to show you it could take years for the right moment and the right opportunity for a person to make a bigger move or be in a position to engage in a platform on a higher level.
Risk
There are always risk from a wallet perspective, browser valnerabilities, potential for malicious code etc.
Is it possible the LeoFinance devs could break bad and do a rug pull? I guess but why would they destroy the reputation and the entire ecosystem they have built over the last 2 years on the 2nd day of this part going live? It wouldn't really make sense.
There are always risks and it is perfectly fine if you decide you aren't going to dive into this portion of the ecosystem. That's perfectly fine.
Or if you experiment with $100 or whatever you are comfortable with as you learn the system.
I can tell you this. Since this has launched I have been as excited as I was in 2014 when I was mining pretty heavy and Dogecoin and Litecoin were just flowing into my wallets! Super exciting time in this historic bull run!
You have a great strategy bhai. Some time teach me too @brianphobos
Are you on the Binance Smart Chain yet?
Did you get the Cub airdrop on LeoFinance?
yes, As I didn't have much Leo I didn't get any cub airdrop but I invest 3k in cub.
Yeah it became the best product and we all brought in even more money into the ecosystem.
Congrats! That is a big time bet. How much have you earned on it so far in percentage terms?
I made 120% in 12 hours but that was off my original $5,600 and then I pumped more money in. Price has ticked down a little but I'm almost to a point where I cover the 4% fees to be in the single pools I joined. It compounds fast when you have a good chunk in. The rates are going to go down some but from this point forward if things go as expected I might be able to double from here over the next 25 days if prices stayed the same but also I'm able to get the capital appreciation of ETH and CAKE so that could change things as well if all boats are rising.
The first movers advantage was really good on day 1.
As the weeks go on the inflation is reduced. Week 1 is 3 CUB / block... week 2 is 2 CUB / block and week 3 is 1 CUB / block.
We will see how it goes but so far it has been really fun!
That's fantastic, glad to hear you are making some dough!
Yeah these DeFi exchange pools can be pretty addictive. It would be like if STEEM shot up to $8 and SBD was $16 again.... the money just flys around like crazy
Nice investment.. I've been trying to farm on cubdefi.com using Trust wallet but have got nothing but confused and frustrated
It is very confusing until you learn what is going on. It is like STEEM.... it takes some time to learn how it works.
Waooo, quite a wile growth of finance.
Thanks for sharing dear
It is certainly a great expansion of the ecosystem.
I just bought some CUB too. Staking those guys, oh yeah!
It will be interesting once the airdrop hits to see how much the return goes down and if many people sell out of part of it to get into liquidity pools and all that.
It is interesting times and this could end up being one of the biggest wins I have had this crypto bull run. We will see. It will be tough to match the ride I caught with DOGE
Awesome! I seem to remember buying a bunch of Doge years ago on Cryptopia, but I can't remember. Plus I left it on Cryptopia haha, so it is gone.
A lot of people got blown up in the Cryptopia disaster. I had some SmartCash on there at one point but I was able to get it out before that exchange went down. I almost got NANO stuck on BitGrail before it imploded as well.
Crazy! I like to say I am more cautious now...but...I am not really hahaha. Unfortunately, I get FOMO really bad. Luckily I didn't have any major stashes on Cryptopia. Back then it was probably only $800 worth of like electroneum, Linda, Doge, and a few others. I can't even remember. I made the mistake of deleting the transactions from my blockfolio.