CUBLIFE (CL) - Weekly report #54
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.
- Blue = BSC
- Orange = POLY
- Black = Gas tokens
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.
No idea why but harvests were down alot this week. The price of CUB has been stable the past week so im not sure. We can see this reflected in the APY this week. In view, most of the farms on CUB are paying between 20 and 25% and our EMP farms are yielding closer to 60%. CUB dividends are 50% of the weekly harvest so I guess the figure of 12% is around right. We need to price of CUB to increase for our farm APYs to increase and it's just not happening lately.
Being in the bear market, there are not tons of new opportunities to invest in new farms. There are trusted "defi" platforms out there but they are in the same boat as CUBfinance as running on fumes. In around a year from now we will start to see lots of new defi appear. Are maybe not, maybe defi yielding will be old news and some new magic way to make money internet monies is released upon us.
Dividends should have been shipped already and as always, have a great weekend guys.