CUBLIFE (CL) - Weekly report #55
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.
Standard week for CUB harvests. Sadly the price of CUB went down a few per cent and LEO increased. LEO increasing is good of course but we get less LEO for our CUB. I notice EMP harvests are getting lower as it's corrected from its recent pump.
The APY does not like great at 12% but we were issuing out pretty much the same amount of LEO each week. 95% of the time, the LEO dividend pool is between 700-1200 LEO per week. The APY is declining because the value of our holding is increasing. Higher value holding and the same LEO paid out equals lower APY. On the flip side, the CL token is now worth nearly 6 LEO each which is about 5x from its 1.2 LEO launch price.
- Blue = BSC
- Orange = POLY
- Black = Gas tokens
The wallet value is holding steady at over $7000. I have been converting harvests into BUSD and just building it up. I still think we'll have cheaper crypto toward the end of the year and loads the bag up. I should really increase our stable token LP.
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.
Just a standard week for us. We harvest, we convert this to that, issue dividends and wait to do it all again next week :) With all the recent buzz around LEO, we might see some interest in CUBlife as a LEO income token from new investors.
We troop on and steadily grow to the wallet. Thanks for checking out the report, have a great weekend.