Is there an explainer anywhere as to where the money to make the initial CUB investment for this project came from?
I don't get why this isn't just part of the LBI fund if you're airdropping to LBI token holders?
Can you just again confirm that it won't divert money from the LBI fund?
Posted Using LeoFinance Beta
You can invest for more tokens in the post below. You basically send HIVE or LEO to @cublife by the 20th.
https://leofinance.io/@lbi-token/cublife-cl-from-lbi-token-launching-21st-may
Posted Using LeoFinance Beta
Yeah I've seen that one, but there's so much going on that I still can't tell where the money comes from?
If the CUB needed to create Cub Life just from the current LBI fund, then aren't you just taking money from LBI holders and diverting it to whoever buys this new token?
Taking from the LBI holders to fund new investors?
I have a vested interest because I bought into LBI and just want to make sure everything is clear and on the table for holders.
Posted Using LeoFinance Beta
I technically look at it this way: the assets off chain will never really affect our dividends. It's basically some more asset value to LBI. So yes there is some taking out of off-chain assets from LBI which it should recoup over time (10% of the gains generated that week).
LBI in the future will be giving LEO as dividends and this LEO will not include off-chain assets. So I think by doing this little work around, they are trying to take advantage of CUB to generate some more returns for both LBI users (CL token holders) and also for people who don't know enough about Cub Finance. So in a way, 10% of the total earnings from CL is staked to LBI to increase curation earnings and also higher dividends for LBI users.
Posted Using LeoFinance Beta
10% of the LEO payouts go to LBI-token.
40% is reinvest into the farm.
50% goes to pay out the Cublife token holders.
Posted Using LeoFinance Beta
So basically, I moved some of the LBI funds to CUBLIFE. I airdropped all those tokens to LBI token holders so what you lost on LBI, you gained in CL. No free tokens were given away. I did this because it will provide something that pays divs to LBI token holders.
All future tokens will be paid for in full at whatever the CL token price is on the 20th of each month so your CL holding will not be liquidated by new investors.
Full post here - https://leofinance.io/@lbi-token/cublife-cl-from-lbi-token-launching-21st-may
Hope this clears up a few things 😁
Posted Using LeoFinance Beta
Okay, so there's no extra tokens Cub Life that new investors can buy off the team?
Posted Using LeoFinance Beta
no. The airdropped tokens to LBI token holders are the only tokens in circulation, the is no team tokens. Because CL's are backed tokens, they are not created from thin air. We airdropped roughly 5300 CL's because the CUBLIFE wallet balance was $5300 at the time of airdrop and we aimed to launch with a $1 token price.
Let's assume CUB/LEO/BNB all stay the same value until the presale ends on the 20th and CL are worth $1 still. If all the HIVE, hivep and LEO collected during the presale totals $10,000 on the 20th, then I convert those funds and get them onto CUB.finanace. Because I add $10,000 to the BSC wallet and CL's are valued at $1 each, I issue 10,000 new CL tokens.
If the CL token price is $1.10 on the 20th, the same $10,000 worth of HIVE, hivep and LEO would release 9090 new CL tokens into circulation.
There will be new tokens issued every month from CUBLIFE. Did you read the post I attached to the last comment?
Posted Using LeoFinance Beta
Haha I'm sorry, it's confusing af...
See how it all goes :)
Posted Using LeoFinance Beta