This Week in LEO | LeoThreads Microblogging, Lightning Updates, CUB V2, POLYCUB DAO
Welcome to this week in LEO. We'll be covering all of our team's developments over the past week and look at some KPIs (key performance indicators) for the LeoVerse.
In recent months, we've onboarded a ton of new devs. The progress we're making on new features and updates to existing platforms is unprecedented. Strap in, things are about to get crazy 🦁
- LeoLightning DB
- POLYCUB V2
- CUB V2
- Multi-Token Bridge UI Update
Microblogging is coming to Hive! LeoFinance's UI is about to get a major overhaul which includes the Microblogging release and a ton of new features.
ICYMI: we've been talking about LeoThreads for a few weeks now. Most people on Hive have heard of Project Blank.
Our team has been building toward ProjectBlank for about 18 months now. What you see here with LeoThreads is the culmination of literally 18 months worth of work.
To get to this point, we needed to accomplish quite a few big ticket items. Namely, the backend infrastructure to handle something on the magnitude of project blank.
LeoThreads serves two primary purposes:
- Introduce the incredibly valuable feature of Microblogging to LeoFinance - changing the way we all use and interact with LEO on a daily basis
- Test our infrastructure leading up to the release of ProjectBlank and find ways to scale up while being live in production
As of right now, a very limited group of people are testing LeoThreads and getting it ready for production release.
Our development pace has reached unprecedented levels. Our team is working overtime to try and get LeoThreads released by the end of this month or early next month.
This past week, we spent a lot of time doing bug fixes and also working on the mobile framework. We've got about 8 items left that need to be fixed before we believe that the MVP - Minimum Viable Product - is ready to go into Production Release.
LeoMobile V1 is live in the Google Play Store. As of right now, we're still awaiting IOS App Store approval.
IOS is known for taking forever. If you have an Android device, you can go to the link above and download LeoMobile.
If you're on IOS, then you can still use LeoMobile Beta by downloading it on Testflight. This gives you full access to the app before its released to the IOS App Store.
As many know, we've released Community Pages and Threads are about to be released on LeoDesktop.
LeoMobile is also being updated to handle Community Pages and Threads. There will be a massive overhaul to the Mobile UI in order to make this possible.
LeoMerge is a process we've talked about at length. We're working on merging the Mobile and Desktop databases and frameworks into one. This will allow much more vertical development and faster feature releases (as we won't have to work on updating/adding to/maintaining two separate databases).
LeoLightning DB is at the heart of Threads. It runs everything on LeoFinance.io and LeoMobile. This database has already been merged and it's been running smooth for the past few weeks.
Remember when LeoFinance had intermittent downtime a few weeks ago? That was when we were merging Lightning for mobile and desktop.
Now that those kinks are worked out, we started developing and preparing LeoLightning DB for the LeoThreads release.
Lightning is essentially a second-layer caching database. It allows us to do a lot of things on LeoFinance - namely, speed up actions on the UI. Instead of waiting for the blockchain confirmation time ( 3 seconds, on Hive), Lightning DB is able to instantly deploy actions and speak to the Hive Blockchain in the background.
This gives users the experience of Web3 with the speed of Web2.
With Community Pages, we deployed a whole new set of operations to LeoLightning DB that made it possible to have multiple Moderators selecting content for curated feeds on each Community Page.
The real difficult challenge with CPages was scaling Lightning up to handle all of this data.
This challenge, however, is what led us to being able to deploy LeoThreads in the coming days/weeks.
LeoThreads requires A LOT of scalability from Lightning. CPages development led us down a path of achieving that scalability and preparing for LeoThreads deployment.
Once LeoThreads hits production, LeoLightning DB will become a major focus for our team - we'll be monitoring it closely and scaling it up as people use LeoThreads to Microblog.
PolyCUB V2 has officially been live for 1 week now. We've released the Multi-token Bridge, PolyCUB DAO, VexPOLYCUB, V2 Vaults and more.
The POLYCUB V2 update is centered around bringing a massive level of sustainability to the platform.
The vexPOLYCUB Vault just hit over 100k xPOLYCUB staked in it. At current prices, this means that ~$6,000 worth of POLYCUB needs to be purchased each month by the PolyCUB Protocol in order to pay the 20% fixed annual yield to vexPOLYCUB holders.
Buy POLYCUB, stake it as xPOLYCUB, then lock it as vexPOLYCUB and earn a 20% fixed yield.
As the POLYCUB price goes up, the amount of POLYCUB purchased from the market (in terms of tokens) decreases while the amount of $$ needed to purchase POLYCUB increases.
As the POLYCUB price goes down, the amount of POLYCUB purchased from the market (in terms of tokens) increases.
This creates a sort of self-equalizing system for POLYCUB. When price is high, less POLYCUB is bought and removed from the liquid supply.
When the price is low, more POLYCUB is bought and removed from the liquid supply.
CUB V2, Phase 1
Phase 1 of the CubFinance V2 release is officially live! This was somewhat of a soft-launch - we haven't posted any announcements about CUB V2 yet because of the HBD and HIVE pump over the weekend.
That pump caused a lot of people to dump their liquid HBD and HIVE which obviously isn't the best news for launching new vaults.
That being said, we already had the updates queued up to release the V2 vaults on CUB and didn't want to delay the launch.
We decided to soft-launch CUB V2 and release the vaults first without announcements.
The release of these new farms signals phase 1 of CUB V2. Phase 2 is on the way and will feature a lot of the things you see on PolyCUB.
One of the key differences for POLYCUB and CUB is the way that Multi-Token Bridge Revenue is deployed:
- on POLYCUB, the MTB revenue buys POLYCUB and distributes it as 20% fixed APY to all vexPOLYCUB stakeholders
- on CUB, the MTB revenue buys CUB and burns it permanently from the supply
The current amount of CUB burned is about 500k (you can see the real-time figure on https://cubdefi.com).
We're projecting that we'll burn about 500k CUB within the first 1-2 months of CUB V2.
That's more CUB burned in 1-2 months than the entire history of the platform. All thanks to MTB Revenue.
Obviously, this has a similar self-equalizing system as POLYCUB - as the CUB price goes up, less CUB tokens are bought with the MTB revenue (because the price is higher per unit).
As the price goes down, the MTB revenue stays the same so it buys more CUB (per unit) and burns it, removing it from the supply forever.
It's pretty amazing to speculate on what will happen to CUB. Many of us have been waiting for this moment for a long-time.
Owning CUB for the past 16 months since it first went live in March 2021 has been a rollercoaster ride of a journey but CUB was never forgotten.
We always intended to release features on POLYCUB and then port them back to CUB when we landed on a sustainable model of value accrual.
That day has officially arrived, make sure you go and wrap some HBD and HIVE and provide liquidity to get more CUB burned.
LeoFinance is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: LeoFinance.io allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.
Our mission is to put Web3 in the palm of your hands.
Our Hive Applications
Join Web3: https://leofinance.io/
LeoMobile (IOS): https://testflight.apple.com/join/cskYPK1a
LeoMobile (Android): https://play.google.com/store/apps/details?id=io.leofi.mobile
Delegate HIVE POWER: Earn 16% APR, Paid Daily. Currently @ 2.8M HP
Polygon HBD (pHBD): https://wleo.io/hbd
Polygon HIVE (pHIVE): https://wleo.io/hive
Web3 & DeFi
Web3 is about more than social media. It encompasses a personal revolution in financial awareness and data ownership. We've merged the two with our Social Apps and our DeFi Apps:
Posted Using LeoFinance Beta