With PolyCub already live, I thought I would talk about my experience with it. I also made my monthly add to Cub Finance from last month because I had a bad bridge transaction (mentioned in my March HPUD). It happened on the last day of the month and it took a while to get a refund.
CUB
PolyCUB is now live so there are two versions of CUB live (BSC and MATIC). As PolyCUB came out recently, I will be focusing on that along with the newly updated roadmaps. My CUB monthly add will be last as I did that a few days ago to prepare for the PolyCUB launch.
Cub Roadmap
There is an update to the roadmap documentation page now that PolyCub went live. It looks like the first part has been released and the goal will be further extensions into other blockchains. There is no news about the IDOs so I don't think they will be coming out anytime soon.
PolyCUB
You can read the announcement for more information about it going live. First off, I suggest this post about how to buy matic with hive if you don't have any on your Polygon Wallet. I thought that 0.001 MATIC that I got in the past from a faucet was enough but it wasn't even enough to cover one transaction. Luckily someone on the LeoFinance Discord sent me some MATIC and I was able to trade in pLEO into MATIC. There is even a FAQ on PolyCUB incase there are some more complicated questions.
Changing LEO into MATIC
If you have some LEO on Hive Engine, I suggest using the Polygon Leo Bridge to send your LEO over to Polygon. The fee of doing so is 1 LEO and I think it is fairly straightforward.
Afterward, you can go to sushiswap to convert pLEO into wMATIC. I choose wMATIC because there is a liquidity pool for this swap. wMATIC is the wrapped version of MATIC and you can unwrap it on any exchange by converting wMATIC into MATIC. I had to manually add in pLEO's contract address and you can find it below.
- pLEO address: 0xF826A91e8De52bC1Baf40d88203E572DC2551aa3
- PolyCub address: 0x7cC15fEf543f205Bf21018F038F591C6BaDa941c
- xPolyCub address: 0x905E21f6C4CB1Ad789CeD61CD0734590a4542346
Airdrop
You can check the details on how much you get airdropped on CubFinance here. Afterward, you can claim it in PolyCub at the airdrop page. I received 0.844025 PolyCUB tokens and I staked them in xPolyCUB.
I was expecting a 1-1 drop but I only got 0.781 xPolyCUB. After reading through the discord, it looks like the value of a xPolyCUB will continue to go up based on the early harvesting penalty. The value of a single xPolyCUB is equal to PolyCUB in the xPolyCUB address / xPolyCUB staked. So the base ratio can only go up as people harvest before the 90-day unlocking period.
I did not put anything into the Farms because I am unsure of how the Farms will play out with the 90-day unlock period.
CubFinance
Monthly Add
I sent 221 LEO tokens over to my metamask wallet using the documentation instructions. From this swap over, I got 220 bLEO tokens. Like last month, I choose to invest in the bLEO/BNB pool this time around and also stock up on some BNB for further transactions. I converted 120 bLEO tokens into BNB and kept the 20 bLEO's worth of BNB. I feel like keeping some extra BNB on hand might work out better for me and I never know if I will ever decide to move some funds from BSC to Polygon for PolyCub.
After I added it to my farm, my current position in the bLEO/BNB farm is below. This farm is very important as the Cub kingdom expands into other chains because there needs to be liquidity for LEO.
My Cub Finance holdings
Above is my holdings as of last month and below is my current holdings using mycubholdings. The values of my account have gone up.
All my positions have gone up and I have lost quite a bit of CUB due to the IL in the CUB/BUSD farm. However, the fiat value of this farm is up in value. LEO has also gone up in value so I am also facing IL on that farm too. DEC hasn't changed much but the yield I am getting on that farm hasn't been the greatest. When I did enter that farm, the DEC value was far high so even if I were to pull out from it, I am on top because that would mean more DEC. Of course, I could have earned more if I sold into fiat and waited though.
Between last month and this month, I was able to harvest 153 CUB. I added all of these CUB into the kingdom before the launch of PolyCUB so they are already counted as part of my airdrop value.
Please make sure to invest only what you can afford to lose and nothing I said is financial advice. Feel free to leave a comment if you read my post. If you have any questions, feel free to ask and I will do my best to answer.
Posted Using LeoFinance Beta
Staking of CUB is still highly underrated. With the APY and the airdrop, it's yielding over 100% in 60 days.
Posted Using LeoFinance Beta
According to the screenshot in the post, the CUB APY is currently 29.95%, which is still very good. This percentage is very similar to the current APR (29.72%) of the SPS.
62% actually and the airdrop is yielding huge returns, equal in dollar value to your staked CUB over 60 days.
Yea that screenshot was taken a few days ago when I did the CUB add. Since then, Khal decided to shift some CUB rewards over to the kingdom so the APR is up now.
Posted Using LeoFinance Beta
I know that staking of CUB is underrated and that is why I stake what I get from my farms in CubFinance. I tend to think the APR from the farms makes it more worthwhile compared to just staking in the kingdom. I might get some IL but the APR makes it worth it. However, with the new rebalancing, I am still trying to figure out what to do.
Posted Using LeoFinance Beta
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Good job on your progress and good luck further! I should probably start getting into PolyCUB now that I have been more interested in the entire LEO ecosystem as well..
!1UP
Thank you. I think PolyCUB is a good option right now because the yields are still high. Obviously, I don't know how things will turn in the long run but I believe in Khal and that it will work out.
Posted Using LeoFinance Beta
Hey a question, the price of bLEO in pancakeswap where can I see it? Just by putting the contract address in the search engine?
Posted Using LeoFinance Beta
No, you can't see the price of bLEO there. You can see the price on the LeoFinance discord or coingecko. For discord, there is a bot that shows the current price.
You need the contract address for swapping in pancakeswap because it's not on the list of approved tokens. Other than that, I don't think you can actually see the current price.
Posted Using LeoFinance Beta
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