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It's being exchanged dollar for dollar so....$10 worth of CUB will get you $10 worth of LEO. BUT, they did the price snapshot before this all happened so using current market prices will be incorrect.

That was my question too. I went to read the announcement post and it says $1 is to $1. (So it's not 1 CUB or PCUB = 1 LEO)

If you got 10 USD in CUB and 1 LEO is for 0.1 USD when snapshot happend, you will get 100 LEO. Simple as that.

Yes. Initially, I thought it was 1 CUB to 1 LEO until I read the post.

I do not know when they do the snapshot, but 0.115 USD per 1 LEO seems to me a lot - maybe they do the snapshot on purpose when the price was the highest? Because $0.115 per LEO was about 1 day or so. Since then, it has always been below 0.1 USD.