CUBLIFE (CL) - Weekly report #57
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.
Earnings this week for on par with what they have been. We are seeing that the APY is 8.4%. This does not look great but we have a factor that the price of CUB is consistently dropping and the price of LEO has increased around 40-50% in the past month so the same CUB converts to less LEO.
- Blue = BSC
- Orange = POLY
- Black = Gas tokens
The wallet value has increased by a few hundred dollars this week. I took our 500 BUSD and converted half into bHBD and added that to the bHBD/BUSD LP which is yielding 25% so we should see a small increase in CUB harvest next week.
The value of the wallet overall is holding well, we have seen a bottom of nearly $5000 and today, it's worth closer to $7400 today. 50% of our assets are held between the stable LP and our EMP holding, both of these have been funded solely from harvests.
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.
Pretty standard week all in all. The APYs offered on CUBfinance are not what they were when we first launched CUBlife. As we continue to harvest the same amount of CUB as a week and the value of our wallet continues to increase as time goes by, its only natural that we should expect the CUBlife APY to decline.
Dividends have been a shaky the past few weeks but i think the coder is back on track everything and anyone is squared up. Thank you taking the time to stay up to date with CUBlife.