So I had some LEO staked for the LeoFinance Cub token airdrop... it looks like we get Cub coupons on Hive-Engine at some point... not sure when ???
These Cub coupons can be redeemed for some Cub tokens I believe.
In the mean time everyone on Hive has been sending their Liquid LEO to Cub Finance, converting to BLeO and then swapping for Cub tokens to add to some of the Farms and Dens to earn 20,000 % APR on their staked Cub.
It looks like the APR has dropped though from 20,000 % down to 10,000 %
That’s like earning 50% per day for the next 365 days
CubDefi Farms : https://cubdefi.com/farms
CubDefi Dens : https://CubDefi.com/dens
I spent the last 24 hours trying to figure out how to do all this...
First I needed Metamask extension for Chrome, then BSC ... Binance Smart Chain ... connected to Binance then connected to Cub Finance... etc etc...
I sent 3 LEO to test ... converted to 2 BLEO ... then I couldn’t find the 2 BLeO... then someone told me to try turning off Metamask and turning on BSC .... then I found my 2 BLEO.... then I needed to add Liquidity ... I couldn’t figure this out .
I needed some BnB.... I had BNBalready ... but I guess the wallets don’t communicate ???
Anyway ... I could not figure out how to convert my Bleo to Cub ... so I missed out on the crazy APR and crazy run up from $0 to $ 15 Cub ....
Cub has dropped back to $7 now... so I guess I’m too late to buy low and sell high.
No idea what I’m doing. But apparently many people made many millions of dollars last night.
Trading Volume = $6.2 Million
Are you one of the lucky ones ?
Meanwhile, I bought some more BNB to pay for all the fees and at least that is up 20%
So confusing. So stressful ..
I think I prefer to just post on my little Blurt blog and earn a little Blurt and convert some to Bitcoin and BNB on the dips.
Yep, I imagine your tale of woe is mirrored by others. I don't have any CUB yet either - hence their algo was kept secret, but they did say they shall reward "long-term" LEO holders... while encouraging new buys and stake.
Just keep in mind how the whole thing evolved. Is the same for every new pool - get in very early, rake in the fees.... then don't forget to get out before the prices change and impermanent losses rise.
I am doing this so that I can understand how Defi works since it’s all the rage these days.... pancakes, Cubs, uniswap, polkadot, etc etc etc... all driving Ethereum and BNB to the moon. ... maybe Blurt should do a Blurt Side Chain for Defi ? ... actually I much prefer the simplicity of earning Blurt for blogging and curation....
Maybe is better to invest in those tokens then.
You have seen how the early-birds have already scooped all the money - they were ready and knew the setup. Same with all of them.
Add up all the initial fees too :-)
Anyway, is prob good to focus on one issue, like CUB, and understand how it evolves over time.
The uniswap algo sucks! But it sucks in such a way that a few people know how to make money off it.
I also dislike that as liquidity provider you need to have 2 coins ready - that's dumb.
On curve.fi you can add liquidity one-sided and the system itself balances it by purchasing the other side automagically.
Yeah a few Hive whales were on it before anyone else... moved thousands of LEO to Bleo, converted to Cub when it was a few pennies and were earning 10 Cub every minute at 20,000 % apr... then dumped at $14 .... that’s when most people were buying.
I did the opposite, as didnt have the liquid shit nor the patience with Binendz protocol - I bought LEO at about 2.0 hive - now over 3 :-) 50% profit in a couple of days... without fees!!
Exactly as I said - the dumping is important.
The same shit happens with all of them - now you know, maybe prep for the next shill.
Yes...I will track how quickly the APR drops to zero and if the price of Cub follows...without losing too much money... or maybe making a little ... who knows...
Something not right... I recall seeing the price right at the start and it was $0.00.
Now, the admin who sets up a pool sets the initial parameters, including a starting price ;-)
Sure, for a token not on any market, that price is a guess, but...
Yeah ... I would have liked to be all set up to buy 1 Million Cub for zero dollars. I think a few people got that price. So there is a Ninja mine. They learned well from Dan and Ned. Another Excellent Adventure has begun ... a few new millionaires created yesterday.
Yeah... the instructions are very confusing. In the end someone told me to just ditch Metamask and do it all through BSC and Binance.... I did that, sent the required BNB for fees and was able to convert 20 LEO into BLeo and buy 2.8 Cub .... at a price of $7 each. ... took me practically 24 hours to do that. So now I have 2.8 Cub staked in a “Den” earning me 3,600 % APR ... which will probably drop rapidly over the next few hours. I will do another write up tomorrow and let you know how many more Cub I earned and what the new price of Cub is.....
Notice also there are still zero CUB on Hive-Engine ;-)
https://hive-engine.com/?p=market&t=CUB