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.....