How Will CUB Hodlers Be Able to Participate in CUB IDOs?

over 2 years ago (Edited)

In this clip from yesterday's live AMA, a community member asks for a simple explanation for how CUB hodlers will be able to participate in CUB IDOs.

As we've mentioned in a few dev updates / AMAs - there are 4 different types of IDOs we have designed. The upcoming 3 IDOs that are already scheduled use the overflow model developed by other platforms.

This overflow model allows anyone to participate in the IDO. It means that the raise cap can be breached and over funded - however, the additional funds beyond that raise cap are returned back to IDO participants and only funds up to the cap are utilized.

In this clip, we explain the IDO model that will be used in CUB's first IDO for a new token platform on the Binance Smart Chain. This IDO is likely to take place early next week and will be the perfect case study for future IDOs on the CUB Platform!

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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22 comments

@whatsup 76

over 2 years ago

Wen..

I'm excited to see the next phase of CubDefi and the IDOs, having never participated in an IDO it will be great to get started on Cub where along with the product there is discussion and often assistance via Leofinance and a place for the community to gather and discuss strategy, functionality and more.

Sometimes I feel like people really underestimate the power and knowledge that goes hand in hand with a community communication tool like Leo.

Looking forward to learning more.

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@khaleelkazi 81

over 2 years ago

Soon…

Very soon ;) I agree the community aspect of our entire project is the most valuable. Both in terms of our power to generate awareness and usage of new apps we launch (I.e. the launch of CUB) but also in terms of what you said: community brainpower.

As we keep expanding the team, time constraints are becoming a little less constraining.. My aim is to focus more on community building as I did for the first 2 years of LeoFinance and have the backend core developments take up less of my time by having more devs and more management structure for those devs.

Streamlining everything to get back to building community and brand while also delivering on the products of our roadmap!

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@williamtboy 55

over 2 years ago

I'm expecting to learn new things from them because the next they want to take leofinance is good.

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@williamtboy 55

over 2 years ago

I can't wait to see the next phase.

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@deniskj 67

over 2 years ago

That was my question. 😅

I only have two functional braincells so talk to me slowly and with big neon graphics.

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@khaleelkazi 81

over 2 years ago

Hahaha well I hope we did a good job answering it on the AMA!

I’d like to have a bunch of infographics put together. Let me get with the designer and see what we can do ;)

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@deniskj 67

over 2 years ago

You did a great job explaining it. The only thing that is not totally clear is how much, for example, if I deposit 300LP tokens of CUB/BUSD, how much do I get back if the IDO is 100% subscribed. Basically no over subscription. Is the entire value of the LP tokens consumed or do I get some of it back?

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@zaibkang 66

over 2 years ago

@khaleelkazi Sr. Its my humble request to you please allocate some time to leofinance.io interface improvements along with all these cub finance developments, we love to see updated version of blogging platform leofinance.io , please consider mobile application development also for blogging platform leofinance.io, same as we are using @ecency aap for blogging and posting on hive blockchain

Instead of expanding and offering new services please update and improve current infrastructure first especially blogging platform leofinance.io which is still in its beta version

Thanks 💓❤️

@zaibkang

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@khaleelkazi 81

over 2 years ago

Check the last 2 weekly dev updates published from @leofinance

In those we talk specifically about leofinance.io, the improvements that we’ve already made AND the mobile app we’ve been working on for the past several months.

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@poshtoken 83

over 2 years ago

https://twitter.com/Hivebull/status/1426574424510173185
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@stayoutoftherz 78

over 2 years ago

So after IDO is over, instead of my pooled CUB/BUSD I will get an x amount of IDO tokens, or are the IDO tokens the reward of pooling and I get back my initial pooled tokens?
It is basically a speculation of what will turn out better, farming or IDOing!

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@khaleelkazi 81

over 2 years ago

So there’s two different approaches - what you’re thinking of are the “launch pools” that some other platforms have implemented. This might also become a feature later on but IDOs are different.

In an IDO, you’re trading your CUB-BUSD LP tokens for the IDO token. If the IDO is exactly 100% committed (or less), then you don’t get any CUB-BUSD back. Instead, you’ve used your Cub-BUSD to buy into the new IDO token.

In the case of an overflow (an IDO that raises past the 100% mark), you will receive a proportional share of the IDO tokens based on the total $$ committed and then you’ll receive any leftover CUB-BUSD LP tokens back to your wallet.

Hope this helps!

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@stayoutoftherz 78

over 2 years ago

Thanks, crystal-clear!
But how can we ensure that those IDO tokens are worth our precious CUBs? I mean, there are so many shitcoins out there, with an insane inflation or supply (or both). How it is taken care, that at the end we are not provided an impressive amount of worthless tokens? There is quite a lot of trust involved, since nobody can know in advance how the IDO tokens will perform! Or do I miss something?

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@allcapsonezero 64

over 2 years ago

This is the gamble and the dilemma.

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@zangano 51

over 2 years ago

always thinking first in the leo and cub community.

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@mobi72 67

over 2 years ago

Intriguing process.

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@allcapsonezero 64

over 2 years ago

I'm really happy that ALL participants will get their share of the tokens... not just the ones who showed up in the first 3 minutes. This is really good... I was wondering if I was going to have to stay home from work on Poly-Cub day.

I appreciate the fact that if we put in the funds before the deadline, we get what we paid for. Thank you.

Suck it BOTS!

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@hiveupme 58

over 2 years ago

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