Convert your LBI into CUBlife for 1 week starting............now!

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Hello LBIer's. Today or this week we trial converting LBI into CL tokens.

I suggested last week that we could offer up conversions from LBI into CUBlife tokens. LBI has recently stopped paying out its weekly dividend and this leaves a few token holders missing their weekly dividends. This offer is a chance to convert LBI which is a growth token into CUBlife which is a LEO income token.

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How this will work

  • Investor sends LBI tokens to @lbi-token between now in when this post payouts
  • On the 5th of Dec, i work out the most to-date price for both LBI and CL
  • I issue CL tokens to these that sent LBI tokens at the conversion worked out on the 5th of Dec

After you get your CL tokens, you can...

  • Hold CL liquid to receive weekly LEO dividends on Fridays
  • Stake your CL tokens to compound your payments into more CL
  • Do a mixture of both

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How is the conversion rate worked out?
I divide the CL LEO price by the LBI LEO price
Currently CL = 4.52 & LBI = 2.31
This gives a current price of 1.95 LBI per CL
How will this be funded?
LBI will be transferring funds to the same value as the LBI received from CUBlife
Funds to be transferred will come from LBI's defi holdings without touching any HIVE blockchain assets.
What is the maximum I can convert?
Maximum limits are being set because LBI has a lot of token holders and I'm not sure how much of a demand there is for this is better to start small.
The maximum amount of LBI that can be converted is 200
Why do you convert on the 5th of Dec?
This makes it much easier for accounting, ensuring everyone is getting in at the same rate and helps to secure current CL token holders aginst being liquidated in any way.
How long will this offer last?
It will begin from this post is uploaded until the post pays out in 7 days
After this, we will run the conversion offer every 13 weeks for 1 week at a time.
Will this dilute LBI holdings in any way?
Not at all. The dollar value of the LBI tokens sent for conversion on the 5th of Dec will be transferred to CUBlife. After this transfer is complete, the received LBI tokens will be burnt and the fund evens up with no change to the LBI token price.
Can you convert CL into LBI?
Currently no, it's a one-way street

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Any questions please ask them below

I am assuming that most people that already hold LBI tokens are aware of CUBlife as it was airdropped to LBI tokens at launch and I'm trying to keep this a short and simple post. If you have any further questions, please ask in the comments below.

Thanks for taking the time to check this post out, i hope you found it interesting.

Posted Using LeoFinance Beta



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22 comments
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Done. 200 transferred ... 👍

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Happy days, you'll get your CUBLIFE tokens next Monday my friend.

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Very good. Thank you sir!

If you don't mind a follow-up question, since I did not see it in this post, do you have any idea at the moment when you might next be in a position to do the 2nd round of LBI conversions to CL?

I know CL has a monthly contribution process, but I assume you are not thinking you can afford to do this conversion on a monthly basis ...

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sent my 650 LBI tokens. cheers

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What is the maximum I can convert?
Maximum limits are being set because LBI has a lot of token holders and I'm not sure how much of a demand there is for this is better to start small.
The maximum amount of LBI that can be converted is 200

I will refund you the difference when i get the time.

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Would LBI tokens get burnt or they will be stored for any future investors?

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Will this dilute LBI holdings in any way?
Not at all. The dollar value of the LBI tokens sent for conversion on the 5th of Dec will be transferred to CUBlife. After this transfer is complete, the received LBI tokens will be burnt and the fund evens up with no change to the LBI token price.

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Done!

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Happy days Mr Trump. I'll sort you out next Monday sir

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(Edited)

Looks like the bulk of what I sent got returned. How come? 😅

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Nevermind. Just saw there's a maximum. I am stupid

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Done. My 75 tokens have been transferred

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Excellent, i will transfer you your CUBlife next Monday and then you start you get LEO dividends from the following week.

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Dumb questions...

What is the risk:reward of converting?

Like I take it that the DeFi stuff is much more risky, but has higher returns?

If I like low risk and a focus on maximising LEO exposure, do I just keep it in LEO?

Posted Using LeoFinance Beta

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(Edited)

Not dumb questions, a dumb question is, what does the colour-red smell like? haha

It's honestly hard to say. When I launched CUBlife, I expected it to provide a decent dividend with a small decline to break even in asset values. I expected LBI to keep growing in LEO value which it has but not as fast as CUBlife. I think the best info I can provide is raw numbers from launch to date.

  • LBI launched at the price of 1 LEO in Dec 2020 and is worth 2.31 LEO today
  • CL launched at the price of roughly 1.2 LEO and is worth 4.52 LEO today.

You will always have more exposure to LEO with LBI because it has its staked balance of over 200k while CL only has exposure to LEO through its LP on CUBfinance.

Damn, that's a hard question because I would guess that CUBlife will be able to provide token buybacks before LBI because it's totally liquid. LEO got hit really hard when it declined 95+% which actually helped to get us a value of over 2 LEO per token because our non-LEO holdings are worth more in terms of LEO. CUBlife converts all its harvests for its 1st year into BTC/ETH and BNB mostly and more recently stable tokens as the market has been declining so it's held its value much better than LBI.

Shit bro, I don't which one is the low-risk investment between the 2 and I'm not going to BS you and pretend I do. Instinctively I would think LBI but the numbers would suggest CUBlife.

This probably leaves you with more questions than you asked, haha.

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