CUBLIFE (CL) - Weekly report #23
Authored by @silverstackeruk
Hello, LBIer's and CLer's. Welcome to this weeks CUBLIFE (CL) token update. We are going to look at this week's CUB harvests, reinvestment and weekly dividend APY. This update post is released weekly, dividends are paid in LEO every Friday at 9 pm UTC and new CUBLIFE (CL) tokens are issued once per month every 21st.
What is CUBLIFE?
CUBLIFE (CL) in a nutshell is a hive-engine token dedicated to investing in CUBfinance that pays out weekly dividends in the form of LEO. All LEO/HIVE raised from monthly token issues is invested in CUBfinance. 50% of weekly harvests are converted to LEO and issued to CL token holders, 40% is reinvested back into the platform and 10% goes to LBI as an operators fee for maintaining and actively managing the wallet.
- Black = Farm
- Grey = Kingdom
Harvests this week were pretty good at around 535. We've reinvested 40% into the BTC/BNB kingdom as we get closer to 4 digits, 60% was converted into 565 bLEO and unwrapped back to the cublife wallet. 10% goers to lbi-token and 50% goes to token holders, this week our total LEO income pool is 470 LEO. The current APY is 40.20% but remembers we reinvest 40% of harvests so CL token holders are also seeing compounding at a rate of 32.2% per year as well.
It's like having your cake....and eating it too.
I know the above chart is not very sexy looking, this is the dividend chart from the start 23 weeks ago. As the price of CUB has dropped, so has our APY. This is normal for a farm token but over the past few weeks, CUB seems to have found a stable level at around 40 cents. If it holds this level for a few more weeks, we might see the APY increase a little and if the price of CUB goes to 45 cent+, it'll 100% surely increase.
This month's CL token issue
Every 21st of each month, new CL tokens are issued to those that have sent either HIVE or LEO to the @cublife before the end of the 20th. The month goes 21st-20th. If you send in funds on the 21st, you'll be waiting till next month. Conversions take place once per month on the 21st with new CL tokens being minted to the same value as the existing ones in circulation. There are 12 CL token issues per year.
You can transfer LEO/HIVE or HIVEp from hive-engine. If you send both LEO and HIVE, you will receive 2 token issues, 1 for each. You can confirm your funds have been received in the table below which are posted weekly and updated 2-3 times per week.
Leo
Hive
Roundup
Things are rolling along nicely I have spoken to our coder about setting up the staking on hive-engine and we'll get it done sooner than later. It'll be interesting to see how many will stake to get CL payout over LEO payments. I guess the great thing is you can do both at the same time and have your LEO income split over 2 tokens.
Liek i said, things a rolling along nicely. Crypto is popping off again, BTC is a few hundred away from $60k and
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and? :))) you should fire the editor :P
Sounds like an awesome idea! In fact, I am going to see about picking some more up right now! I love seeing how well this is growing!
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This is great. I don't see why anyone should complain about a 40% APY with it increasing over the year.
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So the thinking about staking some CL. When you mention to get CL payout over LEO payments.... does that mean the dividend would be in Cub Life and not Leo? Also the part about getting two CL and LEO, how would that work? CL for the staked, and LEO for the liquid? Damn now more things to think about and consider.
Great seeing the APR around 40% in recent weeks. The introduction staking seem like a good one
Let me just have one thing straight. CL tokens gain in value as a portion of income is reinvested, but we still sell (or create) CL tokens for the same value as at the beginning.
If yes, that might not be the worst case scenario, as thanks to this we get an advantage for newcomers, isn't it?
Great!
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