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
Pretty good week this week and to be honest, i thought it was going to be a stinker because EMP is way off it's peg but whatever, harvests are up around 20% on last week with the price of both CUB and LEO being pretty much the same as last week at last report. So close to hitting 1000 LEO worth harvested, maybe next week. Total for this weeks divs are 240 LEO to liquid holders and 66 CL to stakers.
- Blue = BSC
- Orange = POLY
- Black = Gas tokens
As said above, EMP is down alot so I have used this week's reinvestment money to enter us into the bHBD/BUSD LP on CUBfinance. I will continue to add to this farm each week for the foreseeable future. I will also consider exiting EMP if it's peg continues to fall and move back to CUBfinace.
Everything else is up a tiny bit this week which is all good because the higher the wallet value, the lower the APY if that makes sense. Like if BNB were to jump 50% right before i did this weeks update, our wallet might be worth $10k but our harvests would be still worth the same and this would give a smaller dividend APY. It's basically we can't have our cake and eat it. In general, when the wallet value increases alot, the dividend APY decreases alot and vice versa, when the APY increases alot, the wallet value has normally decreased alot. Which would you prefer? Higher APY or higher wallet value? There is a right answer here i believe.
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
Everything is going ok, I do need to keep an eye on EMP as it's really not stable at the minute. I set a target of 0.70 for SPI so I will do the same for CUBlife and if it falls to that number, I'll exit and do something on CUBfinance with them. We are still actually up overall on EMP by about 0.2 ETH so it's not been a wasted journey. It was and still is paying out pretty good but I feel its legs are weakening and earning 70% on something that is bleeding 5% ETH weekly is not a good long-term hold at the minute. It has lost peg before and recovered but they were whale dumps, fast and deep cuts in the peg. This time round it's slow and consistent for the past 2ish weeks. It might rebound. I hope it does because it's a really nice platform but at the end of the day, my job then is to make harvests and try and grow or preserve our wallet value.
As said above, I've got us into the stable farm on CUBfinance and I'll continue t grow it. If I exit EMP, this is most likely where the funds will end up. I still think we are in a bear market and earning 30% from a stable farm is perfect. When the world is looking like it's going to end, I'll convert it to BTC/BNB or ETH/BNB or whatever there is in 18 months' time.
Dividends will go out this evening folks, I hope you have a wonderful weekend.
Posted Using LeoFinance Beta
