CUBLIFE (CL) - Weekly report #59
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 over the past 2-3 months have been very consistent. Our APY is not great but not lot we can do when CUB is priced at 1.2 cents each. The price of LEO has also increased a few percent from last week so the amount of LEO we're paying out is a little higher than last week but much less than we were shipping out in the past. 6 months back we were sending out over 500 LEO per week and over 100 CL tokens. Crazy how things can change when CUB goes down and LEO goes up.
- Blue = BSC
- Orange = POLY
- Black = Gas tokens
The value of the wallet has dropped a few hundred dollars this week. LEO is up but BNB is down because they are not having a good time at the minute with the SEC. Our EMP holding declined as well and im considering to be rid of it. I like holding ETH for CUBlife but we can't stack that CUBfinance so im, not 100% sure what I'll do with the funds. I might put them to work in the stable LP because I still think crypto will get alot cheaper by year-end and we'll beable to convert our stable LP in some BTC and ETH and possibly stake on pancake are something safe.
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
Standard week, nothing out of the blue has happened. The crypto market itself is down 10-20% from last week so it's not been a great week but inside our CUB/LEO bubble, not much has changed which is good. We dont what CUB or LEO dropping 10-20%, we've had enough of that already, haha
I'd say by week, i will have withdrawn the EMP holding and allocated it somewhere else.
Thanks for checking out the weekly CUBlife report and have a great weekend.
