Authored by @silverstackeruk
Hello, LBIer's and CLer's. Welcome to this weeks CUBLIFE (CL) token update. We are going to look at this week's CUB harvests, reinvestment and weekly dividend APY. This update post is released weekly, dividends are paid in LEO every Friday at 9 pm UTC and new CUBLIFE (CL) tokens are issued once per month every 21st.
What is CUBLIFE?
CUBLIFE (CL) in a nutshell is a hive-engine token dedicated to investing in CUBfinance that pays out weekly dividends in the form of LEO. All LEO/HIVE raised from monthly token issues is invested in CUBfinance. 50% of weekly harvests are converted to LEO and issued to CL token holders, 40% is reinvested back into the platform and 10% goes to LBI as an operators fee for maintaining and actively managing the wallet.
Weekly Income
Not a bad week, not a great week. Our harvests were around the same as last week and the APY is about the same as well. There was enough LEO sitting in the account from last week to pay this weeks dividend so i was able to reinvest all our harvests.
- Blue = BSC
- Orange = POLY
- Black = Gas tokens
I reinvested our harvests into the stable LP which has cracked 4 figures. I do plan to start converting harvests into some other cryptos and start to weekly DCA for the next 12-18 months. I have a problem with this because Kingdoms do not work for me. When I try to interact with any of them, i get a request for a 0.67 BNB transaction fee. This leaves only farms working which is not good. I don't like to have 3 options of investment, HIVE, LEO or CUB are not tokens i wanna be stacking in an LP.
The value of the wallet is up a little this week, mainly due to a LBI into CL token swap that happened on Monday just past. I think off the top, there were around 1400 new CL tokens minted and roughly $350 added to the wallet.
This month's CL token issue
Every 21st of each month, new CL tokens are issued to those that have sent either HIVE or LEO to the @cublife before the end of the 20th. The month goes 21st-20th. If you send in funds on the 21st, you'll be waiting till next month. Conversions take place once per month on the 21st with new CL tokens being minted to the same value as the existing ones in circulation. There are 12 CL token issues per year.
You can transfer LEO/HIVE or HIVEp from hive-engine. If you send both LEO and HIVE, you will receive 2 token issues, 1 for each. You can confirm your funds have been received in the table below which are posted weekly and updated 2-3 times per week.
Roundup
It has been an ok week. We the cruising and chugging along. It's going to be like this for another year are so so don't expect anything super exciting to happen for CUBlife. I will promote it harder in maybe 4-5 months' time and try to accumulate some funds while everything is on sale and stack up for the next bullrun. I would like to be able to confirm some sort of bottom before doing that. Even if we miss the bottom by 20%, medium term it will not matter when we are back to 10x gains. If you bought 1 BTC at $5k or $6k in 2020, at today's prices your profit would be $12k or $13k, the $1k difference is mentally not that important.
When the market bottom comes in, it'll take 3-4 months to confirm it. Sadly it is not one of those, oh the market dropped 20% and now is at the bottom. We have to wait and see a few higher lows before we can confirm the bottom and then i will push CUBlife tokens, stack up massively and wait for the moon.
Dividends will be sent out this evening, thank you for taking the time to check out this week's CUBlife report and stay updated with the project.
Posted Using LeoFinance Beta