My CubFinance Journey Was A Complete Disappointment and It Was All Because of HIVE | Don't Mind The Title - Read The Detailed Breakdown
Things have been wild since the arrival of CubFinance. I saw LEO almost reach $1 which is a number it very well deserves even at the worst case scenario outlook for the project. This is not financial advice. It is just what I think of as sensible based on the basic fundamentals we have access to.
Read https://docs.cubdefi.com
Some of the articles posted by @leofinance are taken straight from https://docs.cubdefi.com which is the single best source you can access since it is documentation by the developers themselves. Everything about the project is great and disappointing at the same time. Disappointment doesn't come from @khaleelkazi or any of the other developers involved in CubFinance. It's HIVE that is ruining CubFinance for me!
From The Beginning: Step 0
It all begins after checking things out on HIVE back again after few days of very little activity because life can get busy sometimes. The number of tokens are lower than what most expected. I think higher prices that come with low supply is a good way to go for CUB.
Then it all comes back the the rant of a kid who has been utterly spoiled by the amazing HIVE that is yet to create a strong DeFi ecosystem within the reach of our lovely Keychain Extension.
$1.18!!! Are You Kidding Me???
I can already say that this has been a horrifying experience for someone who had (for the most part) given up centralized exchanges and networks that charge me fees. I have not even started staking yet and I have already paid what is more than a day's wage in some countries.
Then We Get To Staking
I opted for simply staking instead of providing liquidity. I mean how many days worth wages will I have to give up in order to deposit all the funds and get everything running? Simply staking CUB seemed like such an obvious move especially considering the well designed tokenomics and token burns:
These are all described in the Docs. These crazy returns are more of a nice perk us ultra early adopters are experiencing.
The Disgusting Fee Strikes Again
This was me staking the coins for some incredible APR. If I want to Harvest my rewards or Compound them, I'm going to have to pay even more fees along the way. Absolutely disgusting for an ivory tower stake it for bandwidth user like me.
I'm Selling My LEO
The tokenomics will ensure that we won't be getting these incredible APR for that long. It is vital that I ensure my stake in CUB while I have the chance. Finally the appeal of the CUB has made me loose my HODL hands of LEO and sell off my liquid LEO for early adopter gains.
Arbitrage is Powerful - Liquidity is Low
I have written about many arbitrage opportunities before on DEC. We can see some massive price differences with CUB Token. What I haven't found is an easy way to exploit these price differences. With DEC it was extremely easy thanks to the nature of HIVE/STEEM-Engine operations and @splinterlads Unfortunately we are dealing with "Binance Smart Chain" Now.
I'm Still Buying
The order book is showing a lot of action. U will attempt to get the best deal for myself.
Already I Have Earned CUB
I could start seeing those numbers change after the firs few minutes. Being an early adopter and supporting a project like this has its own rewards on top of bragging rights.
Another thing to notice is that the Dark Mode has been given a lo of attention and everything looks much better including changing and glowing border around your selections.
Happy Investing!
Posted Using LeoFinance Beta
$1.18 USD transaction fee just/only to confirm that you trust them? Really? That is ridiculous.
This is the dirt cheap version (Binance Smart Chain). Ethereum is on a whole other level. This is why I'm excited for https://tribaldex.com/dieselpools They don't have any incentive structure like CubFinance. But we may finally get the kind of DeFi that would be easier to digest for those who are used to the ways of HIVE.
On the bright side we already have 2,113.73% APR with CUB staking. I can barely make 10% - 11% APR on HIVE with curation + interest on HP.
Posted Using LeoFinance Beta
You would be depressed if you had tried DeFi on Ethereum. You would be talking about YEARS of wages for the same actions.
Honestly it’s the first time I hear someone complain about BSC fees.
How many days of wages did you earn since you started tho ?
Posted Using LeoFinance Beta
HIVE has spoiled me.
It has only been few hours. I have made over $0.63.
Posted Using LeoFinance Beta
I can understand the feeling of paying for trx when you got used to have it for free.
But in this DeFi game, low trx coming with BSC are like a gift compared to what we have with ETH.
I wish you happy gains ;)
Posted Using LeoFinance Beta
impossible, how can you pay $ 1 in eth when you need to configure it to discount your bnb? It seems to me that you have something wrong configured
Posted Using LeoFinance Beta
It's only a cosmetic difference. I had not changed the Currency Symbol because I was in a hurry and it was optional.
Posted Using LeoFinance Beta
Thanks for some incites on staking plain Cub.
Posted Using LeoFinance Beta
The APR has gone down a lot. But it is still something really good.