The entire DeFi and Binance Smart Chain space has been skyrocketing. When we first started thinking about and buidling CUB, we realized how big BSC would become in the crypto space and charged head on into this emerging blockchain.
Last night, BNB crossed $500 for the first time. It's currently around $575 after just recently breaking through $600.
Binance Smart Chain is still a monster in the making. Most people don't realize how valuable this blockchain is in the current landscape of DeFi. Ethereum obviously has some qualities that make it superior to BSC - better decentralization, more development, more capital, more mainstream attention and adoption - but BSC has some qualities that make it far superior to ETH in the current moment.
Low fees, fast TXs, low barrier to entries... all of these qualities enable apps like Cub Finance and BSC is quickly becoming one of the most valuable blockchains to build on. This is just the beginning of an influx of capital and development on the Binance Smart Chain and LeoFinance has spent the last 2 months positioning Cub directly in the middle of it.
$20 Million Total Value Locked
It feels like just a few weeks ago we all celebrated $10m TVL. In fact, CUB was started just a few weeks ago. Each day has started to feel like a month for most of us.
With Kingdoms around the corner, we believe Cub will blow past $20m like it's nothing. Kingdoms allow BSC users to pool capital through a Cub smart contract which then goes out and pools capital on other BSC platforms.
That contract collected the LP rewards on other platforms and utilizes it to reinvest in the base pool assets. Cub Finance also adds a small multiplier to the contract which means that users earn both the LP incentives that other platforms pay and then earn CUB on top of that APY.
This is DeFi composability at its finest. Here's an example:
- Pool capital (BTC, ETH, DOT, BNB) in a Kingdom vault
- Kingdom smart contract pools on another BSC platform (i.e. Goose or PCS)
- Kingdom contract earns EGG or CAKE LP rewards
- Kingdom autosells EGG or CAKE for the base asset (BTC, ETH, DOT, BNB) and compounds it in the user's pool position
- Kingdom contract also earns CUB rewards and sends to the user's wallet to harvest
- User is earning APR in the base asset + CUB
Utilizing Smart Contracts, Kingdoms allow users to essentially earn rewards on two separate platforms at the same time. It also takes the non-CUB portion of those rewards and autocompounds it into the base asset position (i.e. pool BTC in Kingdoms and earn BTC + CUB).
Our setup for Kingdoms is one of the most unique pooling methods on Binance Smart Chain right now. We think Kingdoms will position CUB for $100m + TVL with relative ease.
The development of Kingdoms has been a bit slower than expected as we ended up needing some updates to the Smart Contracts, backend and UI that we weren't expecting. The Smart Contracts and Backend are nearly ready and we just started on the UI today.
Once Kingdoms are released, you'll find an entirely new design on the CubDeFi site for Kingdoms which will plug directly into the Kingdoms smart contracts we created.
At launch, the following vaults will be available in Kingdoms:
- BTC (replace den)
- ETH (replace den)
- DOT (replace den)
- CAKE
- WBNB
- WBNB-BUSD
We're trying to roll Kingdoms out before the end of this week / April at the latest. We'll keep you updated on our dev progress and any bumps in the road that we discover.
LeoBridge
LeoBridge is probably one of the most ambitious projects we've ever taken on. There is currently still no easy method for converting an ERC20 into a BEP20 in a decentralized manner via smart contracts. Right now, the easiest way to do it is via Binance.com which is both centralized and closed off to a large % of crypto users.
The backend for LeoBridge has been ready for a while now. We targeted a release date of about 2 weeks ago but the UI has required a lot more development than we expected.
Originally, we were going to fork the Pancakeswap UI to handle Bridge TXs. We spent some time working on that and then realized that LeoBridge was too complex for that web page. We went back to the drawing board and considered building a UI from scratch or trying to find some alternative to handle LeoBridge.
We finally landed on the idea to fork the Uniswap AMM page to handle LeoBridge. It's easier to work with and will handle the functionalities we need for the Bridge. Eventually we may rebuild a LeoBridge UI as a standalone page from scratch, but the Uniswap AMM UI will work great at launch.
This is what it looks like right now (obviously still rough in terms of design). LeoBridge carries a number of complexities which have made the frontend development longer than expected. It turns out that building a bridge UI which pulls APIs, price feeds, conversion rates and smart contracts from two different blockchains simultaneously is a tough task. Who coulda guessed that?
It feels like we're in the ladder stages of LeoBridge development. After tackling all of the hurtles that got thrown our way - especially scrapping the first week of development time on the PCS fork - we're now on a much faster track to delivering the Bridge UI. Paws crossed that we can roll this out before the end of April.
CertiK Audit is Now Live!
This happened last week but after all the development hurtles, we never got around to an update post about it. CertiK has finally published the Cub Finance audit report!
We hired CertiK to audit Cub Finance before we even launched and it took them a while to deliver their initial audit (about 3 weeks). Once they delivered that audit, we sent back revisions based on their audit - adding functions like a timelock contract for updating APRs on Cub Vaults, etc.
After our updates, CertiK re-audited Cub Finance and then finally published Cub on the CertiK leaderboard. It turns out that Cub is now one of the highest rated DeFi yield apps.
An important note about our audits is that it doesn't include any new contracts that we add. As of right now, all of our smart contracts have been audited by CertiK. As we release new features like Kingdoms, we need to hire CertiK to add those contracts to our total audit package and update our page on their Leaderboards once they've reviewed the security of these contracts.
Kingdoms are just 1 (but a major one) of the new smart contracts we're launching for Cub Finance in Q2 of this year. With many more contracts in the works and planned, we'll need an ongoing relationship with CertiK (and potentially other auditors) to quickly roll out audits of new contracts as they go live.
The smart contracts for Kingdoms are ready and we contacted CertiK earlier today about auditing the new contract. Hopefully the turnaround will be much quicker than our original audit - since we're adding a new contract rather than getting the entire platform audited.
In other wens - yes, #ProjectBlank is still under development and yes, the new LeoFi app is also under development. In terms of timelines, we'll keep that closer to the vest from now on. We'll aim to launch LeoFi in Q2 2021 and hopefully ProjectBlank in Q2 or Q3 at the latest.
We've got some interesting news on the Blank front - especially since we decided to hire on a full-time mobile app developer and build mobile-first. #Soon™️
LeoFinance is a blockchain-based social media community that builds innovative applications on the Hive, BSC and ETH blockchains. Our flagship application: LeoFinance.io allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.
| DeFi Platform | Tokenized Blogging | Track Hive Data |
|---|---|---|
| Cub Finance | LeoFinance Beta | Hivestats |
 |  |  |
| Native DEX | Wrapped LEO (ETH) | Hive Node |
|---|---|---|
| LeoDex | wLEO On Uniswap | Witness Vote |
 |  |  |
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Something is happening to me.
If I had read this a year ago, or two+ ago it would be as comprehensible as my dog howling (dog-karaoke) to puppy videos. Reading it currently was like someone jacked me into a matrix data download plug and I could suddenly translate previous gibberish. I'm still losing about 2% of the information you share, but wow! I'm being crypto-chained. < ha!
The Dens that will be replaced by kingdoms (BTC, ETH and DOT), the stake we already have in these dens, do we need to unstake and restake in kingdoms? Or will it automatically be transferred to the kingdoms?
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Very important question! Bumped for visibility.
You have to unstake in the den and restake in the kingdom. There will be a no-fee grace period again.
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That's perfect, thanks for the information! :)
interesting
I thought as much. Moving funds from one contact to another would require a third contact, which users would first have to approve.
A 24 hour grace period is a much better option.
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Sometimes I don't get the hate for blockchains that aren't really blockchains, in the most strict sense. I mean, I get it. But I don't get it.
I can understand being skeptical of Binance. Check. You send crypto to their traditional exchange, they put the crypto into their own wallet and write an SQL to update your balance. It's centralized. It is what it is.
But if they put some of their infrastructure on an open network that happens to be implemented on a crippled blockchain, isn't that still an improvement over a closed SQL database that might be doing who-knows-what?
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I see a good ping pong here. ETH laid the grounds for BNB/BSC and then got way too overused /#superexpensive. Now BSC will drive innovation..., but wait, no!... people will keep driving innovation and this innovation can late be reapplied to "ETH2". #nosweat
They (the traditional exchanges) should put all of their infrastructure on an open network. I know. They would no longer be traditional exchanges in that case.
But people have trust issues. And for a reason. The internet is full of scammers and hackers.
I guess the crypto-world is like everything else, no perfect system. Artificial Intelligence (AI) is being integrated slowly, but we will see how that works out.
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Thanks for the updates and especially on Project Blank. I think the kingdoms will be nice and I wonder how many people will jump in to gain the nice APR.
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Very nice update that we're all looking forward to.
Put your paws up in the air and gimme some CUBS
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Been accumulating Cub, confident t hat will pay off.
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Question: What if those 'other platforms' suffer a hack or rug-pull situation? I suppose that the Cub Kingdom will also be affected and hence Kingdoms inherently carries risks from other platforms as well as rewards. Correct?
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Hope for the best, prepare for the worst.
Very good point. I am sure the LEO Finance team will research platforms very well before going into partnership with them.
Goose Finance has been mentioned within this article. They are pretty solid being the first to remove a portion of code called the Migrator from their fork of Pancake Swap. This was the portion of code that allowed rug-pulls.
Since CUB Finance is very similar in many ways to Goose Finance, along with:
As far as potential hacks, Leo Finance has experience in this area with the Uniswap hack. Counter-measures were implemented and all participants were made whole.
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Thanks for the input. When you put it this way,it sounds like the Leo-trust will be further extended to wider range and hence better returns 😍😍🔥🔥
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Here we go to the moon.
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I never saw it like shall, block chain is cool in social media(leo finance) it helps in innovative application.
Do you think there will be a BCH kingdom one day ?
All those updates are great ! I'm following it !
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Looking forward to Kingdoms and of course, LeoBridge. Hopeing to clear the small amount of ERC20 alts that aren't worth moving at this point because of fees and can put it in Cub.
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That's great news!!! Very excited. Will there any deposit fee to the kingdom?
Posted Using LeoFinance Beta
There will be another 24-hour grace period to move from Dens to Kingdoms.
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Awesome! I can't wait to enter the kingdom!
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Woot Woot!
I'm already in den, looking forward to transform them into kingdoms. That base asset compounding is really amazing. Good Luck in all the developments going one.
This is awesome! Can’t wait for the kingdoms... I was just saying in a post this morning that I wish you would add back the WBNB-BUSD farm, well... I will take a kingdom instead, lol! Well done guys!
Awesome news! Thanks for the heads up!
Really excited about what you guys already built and for what is yet to come!
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Agree, thanks team for teach us the new digital era. 🚀🐾💎
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🐾💎
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Google pay 81$ per hour my last pay check was $8500 working 100 hours a week online. My younger brother friend has been averaging 13k for months now and he works about 24 hours a week. I cant believe how easy it was once I tried it out. This is what I do.. click at this go to tech tab for more details…>>>> https://www.Nifty2.com
Now you don't want to be spammy. Thank you for the information, but your comment adds nothing to the contents of this article!
You would do better to make a post about your windfall. Maybe title it: Make Money to Invest in LEO Finance! It's Nifty!
Have a nice day and better tomorrow!
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I was being sarcastic. Sometimes my strange sense of humor does not come through in text. By the way, it is @hivewatchers not @steemcleaners anymore.
If he is spammy in his posts, folks can just mute him from their feed. That is how I deal with crappy, spammy, plagarist posts.
Hope you have been well. How is the weather out there in San Diego?
This is indeed a great innovation. The DeFi system is really amazing
Wen CUB trading in Binance, CUB will moon.
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Awesome .... Kingdom and Leobridge are gonna be a gamechanger.
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I'd be sad if ProjectBlank is to move to Q3, but so far, Leofinance's track record tells me that when the any of its product is launched, its worth the wait. I am sure, this will be true for the Blank as well.
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Huge news on all fronts! Thank you for this update. I was pretty sure what you described was what was happening but it is SOOO nice to hear it directly from you guys. Let the games begin! This is a huge jolt of energy back into the community. Keep up the great work! Much appreciated!
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Ah, this update gives all the clarity I was waiting for, for a few weeks. Every serious development project comes with delays, but I appreciate the depth and detail that you've provided here!
To me it seems you're getting your priorities right here: develop simple but sensible versions, and then later go for the fully up-tuned & customized solutions. In academia we'd call that fast-track / deep-track but perhaps that terminology sounds terrible in the real world :P.
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Really liking the sound of Kingdoms! Will they have a deposit fee?
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There will be another 24-hour grace period to move from Dens to Kingdoms.
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Ah hey that's good to know cheers!
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Isn't it though?!
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kudos to the team for their relentless afford to deliver value to the leofinance community. i am looking forward to the launch of the kingdom initiative. it sounds quite lucrative to me. Also project blank and the mobile app. that would be a game-changer
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Always great to hear about what you're working on. Progress is amazing and we're glad and thankful. Keep it up!
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Lot's of stuff in the works! Fun Times! and pumped that projectblank has gone mobile first.
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Hmm I just sent about $4K more over to CubFinance.
I guess I helped to push it towards the $100 Million TVL market albeit slightly.
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Love the updates Khal. No wens for me but what's next 👻
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You guys are just the best ! So excited for Kingdoms ! Clearly it will send TVL > $100mn !
I could then just watch tennis 🎾, cook 👩🍳 and get fat and lazy !
What a great future !!!
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Of course everyone are asking "wen ProjectBLANK" I think it's going to be big, it feels like yesterday since cub came into inception and it has been massive. I'll be looking forward to what kingdom will be all about since I'm still confused at the moment
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#leofinance is getting busier by the minute.
CUB is keeping us in sync.
Glad to bring quite a few friends to discover
this marvel.
Kingdoms look interesting right now.
Can't wait.
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Can’t wait!
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The certification has passed with flying colors, Kingdoms and Bridges are in the making and the entire CUB ecosystem will be mooning soon. There isn't anything else I would expect from LEO Finance, just a project that will fly off the shelves!!!
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Awesome update, So maybe I missed is kingdom replacing the den?
Kingdoms will replace all Dens except for the CUB Den at launch. Kingdoms will also have higher APRs than Dens since the contract is composable (stacking yield from CUB + ___ BSC platform).
We're also reaching out to some BSC platforms about integrating CUB pools/dens so it's possible that the CUB den will eventually be replaced by a CUB kingdom which will have the same 15X CUB rewards + rewards from another BSC platform (i.e. PCS or Goose)
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Will this be an automatic transfer or will we need to move things around on a user end?
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The whole selling point of Kingdoms is that it uses an auto-compounding smart contract and takes a fee for doing so. I highly assume that there is zero interaction from the user after a Kingdom has been set. Maybe you still have to harvest the CUB you earn for them but the following (confusing) sentence sounds like you don't even have to do that:
As per my little understanding Harvest would be a must.
Posted Using LeoFinance Beta
I meant when change happens from dens to kingdoms, will there be anything we have to do, or will it be an automatic change over. I am aware of the automatic compounding
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If someone could change the contract you put your funds in from a den to a kingdom, then that would be very bad.
You will have to move the funds yourself.
There should be a 24 hour period without fees where you can move your funds out of the den and then into a kingdom if you want.
Posted Using LeoFinance Beta
Good to hear from the team !
Thank you for the hard work and the flawless deliveries. That’s actually the most important part, take all the time it needs to be perfect.
More and more eyes looking at us :)
Great work !
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Is it normal what I feel?
I wish I had 100 LEO right now to buy CUB, I am certain that it will go up like crazy just like BNB is doing....
CUB to the moon
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I trade my LEO for bleo then get me some BNB and put it in the bleo/BNB farm. That way I still have my LEO and earn $CUB!
Getting that $BNB for fees and liquidity that is the hard part.
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I have done that too, switched from LEO to bLEO and then to BNB, but I have not tried the bLEO-BNB farm I will try to gather some more so I can log in and see what the results are.
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100 LEO to buy CUB? No no no...you don't do that.
You hold both LEO AND CUB. Otherwise I'll find you
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You're right.
May i say 50 LEO for CUB and 50 LEO to LEO POWER.
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Hey, he's alive! :) Thanks for the updates!
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Whole team is alive and kicking, just busy buidling ;)
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Yup, that's what we want to hear! :)
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buidl away while we hodl with 🐾💎
Very exciting update. Kingdoms sounds amazing from this description and everything seems to be starting to fall into the right places :D
CUB and LEO to the moon!
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Nice, but wen this quality of life?
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That is awesome news! You folks have definitely been busy! Keep the good stuff coming!
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Absolutely ecstatic for the Kingdoms release! With enough capital, we all could compound our wealth without having to dispense unnecessary fees.
I have a question, though. What dictates the compounding period? Is it going to be credited continuously, or at a set point in time, like every 24h?
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Thanks for the update!
Regarding Kingdoms:
How does the selection of pools in the BSC „network“ work? Is it done manually? Or will these pools be selected automatically based on pre-defined rules?
This gonna be awesome!
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These are exactly the kind of things I want to hear and see.
One of the major issues related to HIVE has been fixed here. @dapplr was the only project that was mobile 1st and they didn't manage to get funding from DHF. Having a Twitter competitor with a mobile focus is absolutely a game changer for crypto. I may need to focus a little bit more on staking more LEO rather than investing in CUB.
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I am so excited about this bridge. You're right that it's ambitious, but it may change the way we interact with cryptocurrency forever. A really important step to begin developing huge connections of numerous blockchains that we will one day call Web 3.0.
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