RE: The First-Ever Stake Weighted LEO Poll on Hive | CUB & POLYCUB's Future is at Stake
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(Quick note: I will use $150K figure as I also think that not everybody will swap this)
Just two comments:
A potential $150K swap with Cub defi holders means a dilution for all us $LEO asset holders of about a -7% overnight. Dilution as in Loss of Value of our tokens as the supply artificially increases. I'm not sure that "Return the community" offsets this loss as I would bet 95% of the people trapped in Cub are still here with us.
At first glance it seems a lot of work to bail a $150K defi hustle that went wrong. (And I'm a loser in there too!) But this is crypto, you start things, 8 go bad and 2 make a x20, you move on.
Is not better to focus all you guys energy on the Thorchain gig? It seems that potentially has much more return for $LEO holders (x10 or more!).
Still hasn't decided vote but I think this two points are worth to think about.
Thx, Renovatio.
Giving my opinion as community member, not team member.
The way I see it, this is a way to close the book on Cub and Polycub without neglecting the holders that lost in there (I lost on polycub a lot). It's not a return of full investment but a statement that the team not just goes and starts new endeavors and forgets about the community and the previous projects that didn't work out.
Will this represent a small dilution of the $LEO token? Probably, but as you say, I like to think (as community member) that those who are still holding those tokens, are looking forward to turn the page on cub/polycub and be included in what is coming next and will not sell those tokens.
We will what happens, but im positive this is the right move forward
Good points, thx
While most teams would have gone for option #2 you explained above and just left the old holders to the dust, that's not our motto.
We are all one community. Our mistake was spreading too thin and chasing after DeFi summer. There were a lot of benefits that came out of it but ultimately, these DeFi yield platforms don't work.
I can't even tell you how much $$ we spent as a team on development and marketing for DeFi. Along with investing our own capital and liquidity.
This was a massively failed experiment. But there were tons of lessons we learned as a team and community that we can now carry forward into the future.
The new swapping platform is really exciting because it completely does away with the two shortcomings of CUB/POLYCUB:
On our new DEX, we are using Maya Protocol and Thorchain's Liquidity Pools which means that we neither have to worry about building liquidity for all the assets nor do we need to pay yield to Liquidity Providers... as it is all handled by those protocols.
Instead, we become an affiliate and an interface for those protocols. We generate revenue and that revenue buys LEO off the market every day.
Assimilating CUB/POLYCUB into LEO before this takes off is a huge moment to bring all of the community together and align us on a singular vision of the future
Read my comment above to @bitcoinflood if you want to see more details on why we think this is the best move
Right, well said. Agree, I also saw the incredible shipping on those days, I entered into CUB really pumped and brought a couple of friends too... Bitter times to remember. But as you say, either we win or we learn.
I will vote yes, fuck it, the -7% dilution will be long forgotten if we hit gold with the RUNE project.