While most teams would have gone for option #2 you explained above and just left the old holders to the dust, that's not our motto.
We are all one community. Our mistake was spreading too thin and chasing after DeFi summer. There were a lot of benefits that came out of it but ultimately, these DeFi yield platforms don't work.
I can't even tell you how much $$ we spent as a team on development and marketing for DeFi. Along with investing our own capital and liquidity.
This was a massively failed experiment. But there were tons of lessons we learned as a team and community that we can now carry forward into the future.
The new swapping platform is really exciting because it completely does away with the two shortcomings of CUB/POLYCUB:
- Liquidity
- Paying yield
On our new DEX, we are using Maya Protocol and Thorchain's Liquidity Pools which means that we neither have to worry about building liquidity for all the assets nor do we need to pay yield to Liquidity Providers... as it is all handled by those protocols.
Instead, we become an affiliate and an interface for those protocols. We generate revenue and that revenue buys LEO off the market every day.
Assimilating CUB/POLYCUB into LEO before this takes off is a huge moment to bring all of the community together and align us on a singular vision of the future
Read my comment above to @bitcoinflood if you want to see more details on why we think this is the best move
Right, well said. Agree, I also saw the incredible shipping on those days, I entered into CUB really pumped and brought a couple of friends too... Bitter times to remember. But as you say, either we win or we learn.
I will vote yes, fuck it, the -7% dilution will be long forgotten if we hit gold with the RUNE project.