The First Ever Cross-Chain Hybrid Claimdrop | Completely Redesigned and CUB Drop is Now Live!

leofinance (77)in LeoFinance • 4 years ago (edited)

Hey everyone! Sorry for the delay on this claim drop. It was intended to go out Monday morning and then we pushed it back 24 hours. Then we had to push it back another 24 hours yesterday and here we are today, 48 hours late.

The reason for the delay is two-fold:

The original airdrop we designed was way too complicated
I severely underestimated how long it would take to setup the new airdrop, organize the backend and manage the Cub launch in the process

1 or 2 extra days to launch CUB would've made the world's difference but we made it here and I'm glad to put the "wen airdrop" days behind us. @tarazkp aptly named this Fight Cub. What's the #1 rule?

I hope you understand why the delay was set in motion and I hope that the new process we created will be easy to follow. The old process for claiming the drop was like building a rocket ship with a box of scraps compared to this process which is the exact same as wrapping LEO into WLEO or BLEO.

Hopefully, this will cause a lot less chaos than the old system. I believe taking the extra 48 hours to design something that worked well rather than a quick and dirty airdrop solution was well worth it. I hope you agree 🦁

Wrap CUB: https://WLEO.io/cub

How to Claim the CUB Token Claim Drop

In the CUB Token section, we mentioned that there was no presale of CUB. While most DeFi platforms similar to this launch a presale, we're a two-year old project with LEO stakeholders and wLEO LPs.

CUB will feature the first ever cross-chain hybrid claimdrop.

Due to the complexities of this system, we decided to redesign the code for this airdrop and change some of the rules in terms of CUB's transferability / tradability on Hive Engine prior to being claimed on BEP20.

Key Changes:

CUB can now be bought/sold on HE and anyone can wrap it into BEP20 CUB (although, one should mind the price difference and consider trying the CubDeFi.com platform - as that is the main purpose of this airdrop)
A UI has been created to handle the CUB HE -> CUB BEP20 wraps. We were originally going to have users manually send TXs to wrap but later realized that this would cause utter chaos in the community :)
Instead of rolling the airdrop out in phases (to handle the complexities), we're now rolling the airdrop out all at once to LEO Stakeholders. This makes for a more "fair" airdrop since everyone will receive it at the same time. We're able to do this because the claimdrop process has been radically simplified from the old version
The wrapping bridge from CUB HE -> CUB BEP20 will only last for 7 days (it will close on March 17th)
The wrapping bridge from CUB HE -> CUB BEP20 only goes 1 way. Once CUB has been claimed on BSC, it will be burned on HE and HE CUB (the wrapping bridge) will be deprecated on March 17th

Please follow the steps below to claim your CUB on BSC.

We appreciate everyone being patient with us as the initial CUB airdrop goes out, users are showed how to wrap and claim and more. This turned out to be much more complex than originally intended and it took us a few extra days to figure out how to make this work and not create total mayhem in the process. I hope everyone can understand that. Thank you 🦁

How to Claim the CUB Drop:

1). As balances are processed, the CUB drop system will send CUB to your Hive wallet as CUB HE tokens

View HE Token Balances on https://leodex.io/wallet

2). Once you receive your CUB HE tokens, head over to the new Wrapping UI specifically for the CUB airdrop

3). Enter your BSC address under "CUB AIRDROP"

4). Click Submit, then enter the amount of CUB to claim on Binance Smart Chain

5). Confirm the TX with Hivesigner or Hive Keychain

Note: it may say "LEO Transfer" in Hive Keychain. You can ignore thios and Click to Show Data to make sure it's sending CUB. Minor visual display issue
It will take anywhere from 20 seconds to 1 minute to receive BEP20 CUB in your BSC wallet address

View your wallet at https://bscscan.com/yourwalletaddress

Note: the CUB bridge works one way and will close on March 17th. You must claim HE CUB as BEP20 CUB before this date. Afterwards, CUB on HE will be deprecated.

Other Key Airdrop Details

A total of 28,000 CUB (current value is roughly $140k USD) will be airdropped to LEO POWER stakeholders and WLEO LPs. This is the project's way of distributing some ownership in the new CUB platform to anyone who HODLs native LEO (and LPs).

Most DeFi applications run presales to raise capital and create this early distribution of tokens. With Cub, we decided not to run this way for a number of reasons. Namely, being a two year old project (LeoFinance) with a two year old community of diamond hand HODLers.

What Can You Do With CUB?

1). Stake it in the CUB Den and HODL with those LEO Diamond hands for a 3,300% APR

A great way to HODL CUB, earn a crazy high APR and watch the platform grow as it matures, gains more TVL and we add new contracts from our roadmap.

2). Stake CUB in one of the two CUB Pools

For in-depth tutorials on how to do this check out the docs: https://docs.cubdefi.com

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