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
Harvests this week were smaller than last week and the APY has dropped to 18% which is under the target of 20%. I starting to think that it might be a good idea to reallocate some funds around because the APYs are not as big as they used to be and we are an income token so we need to go after the higher APY's.
- Blue = BSC
- Orange = POLY
- Black = Gas tokens
You can see that some of our holdings are earning 25% APY. Dividends are 50% of harvests so to pay out a 20% div APY, we need the wallet to produce 40%. From looking above, 18% does not look so bad when our 2,3 and 4th biggest holdings are earning under 25%.
I'll shuffle some things about when i get time to look at it proper. No plans to remove any off CUBfinance, just removing and adding (paying fees 😥) and searching for a higher APY into LPs made of 2 good tokens. Sorry but CUB has been a big letdown, it's been our worst investment to date by a mile. Earning a higher APY will also provide more money to reinvest. The wallet value is down around $400 from last week, this is mainly because of ETH dropping $200 since 7 days ago and our EMP LP taking a hit from that. Other than that, everything else is going sideways which is good. I like consistency. Of course, I liked LEO at over $1, CUB at over $10, BTC at over $65k and ETH at over $4.5k, if they were consistent days, we'd be laughing right now. Them will be the days in time cause in general over the long term, markets, all markets trend upwards. There's not very much out there trading cheaper today than it was trading for 10 years ago and even less 20, 30 and 40 years ago.
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
We're doing ok, we are plodding along and building assets. By next week, our holdings should be looking a little different and i hope i have some good news and a div APY of over 20%.
Have a great weekend everyone.
Posted Using LeoFinance Beta