I Wrapped 500 BLeo. Now What?
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So in anticipation of Cub's newest features, the Bridge and Kingdoms, I decided to wrap my 500 liquid Leo tokens and now they are BLEO tokens sitting in my metamask.
But, why did I do this? What does it mean? And, what am I supposed to do with them?
I've read so much about the project over the last few months that I'm absolutely dizzy and confused. I want to be "a part" of this thing so I went ahead and wrapped the leo at the expense of my voting power.
Now would someone kindly tell me what's the next move. Is it to put it in a farm, a den, something new or just sell it for cummies lol.
Waiting for some instruction in the comments. Thanks Leo
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You were outhyped, if that´s an existing word.
Sorry, I think you can´t do anything now with those bLEOs.
Maybe just buy CUB and put them in a pool or den for now. But that´s risky (price risk, fees, impairment loss).
Conservative. Trade for CUB, then put CUB in den and wait :-)
More aggressive. Trade 1/2 for BNB, provide liquidity in bLEO-BNB farm, and reap more CUB. Then, if BNB goes up in price proportionally more than bLEO, you will also get more bLEO on top of earning CUB!
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Did the bridge go live? I haven't really seen much change in the CUB prices.
As for your bLEO, I guess you could go to the farms or dens while you wait. Or you can choose to just HODL because you believe in bLEO. I am unsure which pools or dens are the safest though and I am looking forward to the answers you get.
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Hi @cflclosers
You have several options on Cubfinance.
I would look at the APRs first:
CUB-BUSD Farm is the highest 297%
CUB-BNB is next 210%
BLEO-BNB is 3rd at 138%
CUB Den APR is 112%
These values are as of the time I write this.
The Farms have the highest return, but with the risk of impermanent loss. @nealmcfadden has a few good posts on this, wich make it easy to understand, I suggest looking at them.
You will see 2.73 million USD invested in CUB-BUSD due to BUSD being a stable coin, impermanent loss is minimal.
CUB-BNB is the close in popularity 2.69 million USD and BLEO-BNB is 3rd with 1.63 million USD invested.
Cub Den is popular with 2.23 million invested there.
As you can see reward increases with risk.
In general a LP pair with a stable coin minimizes your LP risk from impermanent loss. A Den eliminates impermanent loss completely.
Actions:
You will need to trade half the value of your BLEO for each asset in the pairs, so in the CUB-BUSD you would trade 250 BLEO for CUB and 250 BLEO for BUSD, a similar fractioned trade for the other two, except the third you just trade 250 BLEO for BNB, then deposit your remaining 250 BLEO and whatever amount of BNB you get for 250 BLEO, in the BLEO-BNB pair.
Assess your risk level and decide, it's your hard earned money and only you can decide what level of risk you want.
Good Luck!
@shortsegments
No Loss Lottery
https://peakd.com/hive-175254/@shortsegments/the-no-loss-lottery
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500? not too shabby
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Your post was promoted by @jfang003
I think people in the comments already gave a detailed description of your options so you are covered there.
Personally, I have most of my Cub invested in the Den because since I'm new to DeFi I'm playing it safe.
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Well, pretty sure Kingdoms is going to have some new options. Might want to just sit on the bLEO until it actually comes out later this week (hopefully). If you just want pure "safety" (if there is such a thing in defi) then just trade them for Cub and put them in the Den. Cub is down right now so you might actually get a little appreciation in the price over the next week, plus you'll be earning a little free Cub. There are no fees in the den although it DOES cost a small amount of BNB to stake and harvest so you probably need to sell a few bLEO into BNB if you want to stake it.
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