Introducing DEC Farming on Cub Finance

in LeoFinance2 months ago

image.png

We've added DEC to the list of available farms on Cub Finance. As of today, you can now send DEC to the Binance Smart Chain, pool it with BUSD and deposit liquidity in a Cub Finance vault to earn yield.

DEC is the native token of the @Splinterlands game and it offers a variety of features to players of the game and investors who leverage the NFTs within it. DEC serves as a sort of "loose" stablecoin. It isn't strictly pegged to a certain value, but the nature of the features utilized with DEC keeps price variations to a minimum.

Note: If you've used the https://cubdefi.com site recently, you may need a hard refresh on the https://exchange.cubdefi.com site to see DEC added to the list of available cryptocurrencies.

Farms Update

In the original announcement, we mentioned that some changes were coming to the CAKE pools (and Den). After reviewing the possible liquidity that DEC could offer, we decided to lower the multiplier on the DEC vault - though the APR will still be around the % that we originally intended.

The DEC vault features:

  • 3x rewards multiplier
  • 4% deposit fee

DEC doesn't have a lot of float and is continuously used in the game. This means that there can only be so much liquidity in the DEC farm. We can update these metrics as needed but after running some math, we've figured that 3x will lead to DEC having an APR on par with other vaults in the Cub Finance ecosystem.

Since we're taking less multiplier for DEC, the changes for CAKE pools are less severe.

  • CAKE-BUSD farm inactivated (there was only about $130k liquidity in this pool. The most underutilized of them all)
  • CAKE-BNB farm multiplier reduced from 2x to 1x

That's it. No changes to the CAKE den nor the DOT den.

How to Farm With DEC

image.png

@splinterlands has added a BSC bridge to their https://splinterlands.com UI. The first step is to wrap your DEC into BEP20 DEC to your BSC address.

Once it's wrapped, you can head over to https://exchange.cubdefi.com/#/add/0xe9e7CEA3DedcA5984780Bafc599bD69ADd087D56/0xE9D7023f2132D55cbd4Ee1f78273CB7a3e74F10A to add liquidity to the DEC-BUSD pool.

image.png

After adding liquidity, you'll receive LP tokens. From there, just go to the "Farms" page, approve the DEC-BUSD LP contract and then deposit your LP tokens in the vault.

For an in-depth guide on how to use Cub Finance to swap, pool and vault your liquidity head over to the docs: https://docs.cubdefi.com/tutorials/how-to-deposit

Audit Report

Yesterday, we recieved our audit report back from CertiK. Everything looks great and their #1 suggestion was that we implement a timelock smart contract. The reason we're mentioning it here is because it directly relates to updates such as this post (and the previous 48 hour notice post we published).

This timelock contract will actually impact our ability to update farm multipliers. This is not so much a security risk for the farms themselves but it can pose a risk to the CUB token (if the team were to perform a rug pull by adding some ridiculous multiplier and changing the rules on a whim).

We gave a 48hr notice that these DEC and CAKE changes were coming but it's far more secure in the eyes of CertiK and BSC users to have an actual smart contract that forces us to have a 24-48hr timelock on changes such as these.

The timelock contract is already prepped and ready to go live. We'll be adding it soon. Very soon.

After that, we'll pass the audit report back to CertiK with our smartlock added and then get their final review and publication.

Also, #LeoBridge #VerySoon

Posted Using LeoFinance Beta

Sort:  

A win-win for @leofinance and @splinterlands.

We are stronger together!

Loving all the partnerships between communities.

Posted Using LeoFinance Beta

Sweet! I was waiting for this time to arrive for DEC. Now I have some homework to do. Me noob on this stuff.

Posted Using LeoFinance Beta

I know how you feel but spent many hours yesterday getting a head start. haha

Oh, you are way ahead of me then. Teach me master!

Posted Using LeoFinance Beta

i have some slow step by step videos i did yesterday. Now i'm flying today. haha
Wasn't sure if they were polished enough to share but perhaps i'll add them just for fun.

Here we go! Gaming space enters DeFi

Posted Using LeoFinance Beta

Good stuff. I'll be testing out the DEC stuff real quick. That pool will be safe since DEC doesn't fluctuate that much. ALthough putting in higher amount of DEC will lead to fluctuations in dollar value with small moves. Hmmm

Is there a smart contract I should add to make DEC show up in my Metamask?

Posted Using LeoFinance Beta

I did not manage to add DEC to my Metamask, but it still shows on the cubdefi exchange ;)

Posted Using LeoFinance Beta

@captainklaus - 1 hour ago
In case one needs to manually add DEC to Metamask, here's the Token Contract Adress:
0x9393fdc77090f31c7db989390d43f454b1a6e7f3
Edit: This works, just takes some time till the DEC you wrapped/sent via Splinterlands also show.
VOTE ON THIS COMMENT --> https://leofinance.io/@captainklaus/re-leofinance-4tgvcb

Posted Using LeoFinance Beta

Sweet!!!!

Posted Using LeoFinance Beta

In case one needs to manually add DEC to Metamask, here's the Token Contract Adress:

0x9393fdc77090f31c7db989390d43f454b1a6e7f3

Edit: This works, just takes some time till the DEC you wrapped/sent via Splinterlands also show.

@belemo

Posted Using LeoFinance Beta

That address did not work, use this contract address in metamask add custom token instead.

0xe9d7023f2132d55cbd4ee1f78273cb7a3e74f10a

Posted Using LeoFinance Beta

Loading...

Thank you very much, this will further increase the audience for both platforms

Posted Using LeoFinance Beta

Soon™

Posted Using LeoFinance Beta

download.jpg

they are using #verysoon so they have upped their game, you have to give credit to that :P

Posted Using LeoFinance Beta

Ah I'm glad to read about the dot den not getting changed....relief

Posted Using LeoFinance Beta

Congratulations @leofinance! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :

You got more than 2750 replies.
Your next target is to reach 3000 replies.
Your post has been really appreciated and was the most upvoted of the day
Your post generated a lot of interactions and was the most commented of the day

You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

To support your work, I also upvoted your post!

Very cool! I already staked some tokens in it. Let it rain CUBS!

Posted Using LeoFinance Beta

Things are definitely improving since you are starting to you #verysoon instead of #soon :). Also #wenprojectblank ?

Posted Using LeoFinance Beta

$ 125 000 in 40 minutes - an excellent result !!!

image.png

Posted Using LeoFinance Beta

I accidentally used the liquidity pool dec/bnb. Is this pool plan or can I switch it to the correct pool?

Posted Using LeoFinance Beta

Always on time ! Aren’t you?

I had a few hundred thousands of DEC sitting around. I know what to do with them now 😉.

Giving 1.2k APY at the moment and making people pay these juicy 4% fees for CUB and LEO HODLers ! I love it 😻

Posted Using LeoFinance Beta

well it's down to 700% now but still great and DEC is pretty limited supply so not sure how much more DEC will make it's way over. Probably a decent amount but not a crazy amount more it will likely always be one of the smallest farms (in terms of liquidity) on CubDefi

Indeed but very important for the Hive ecosystem as leofinance and other projects should help each other to grow 😉

Wow, that brings some amazing gains at this phase. Hopefully I can scrap some DEC to make it worth!

Posted Using LeoFinance Beta

When SIM?

Posted Using LeoFinance Beta

external-content.duckduckgo.com.gif

I hate having USD/fiat exposure....
any plans for a CUB/DEC farm?

why do you not like it?

I see USD as a token that will always keep losing value...

And there are no plans to add a Den for DEC as well? This would be awesome!!! Well all this si already awesome anyway but ... that would be the killer.

Posted Using LeoFinance Beta

Next $BAT pool?

Posted Using LeoFinance Beta

Does BSC have a solid $bat contract? It's originally an ERC20 token.
I'm guessing hive-engine team will focus on a $BAT pool now that they have a swap.bat (erc20)

Awesome!!! I am so excited to deposit some DEC-BUSD !!

Posted Using LeoFinance Beta

It does make me happy to see this happen... I always had great hopes for Splinterlands, even to the extent of it gradually growing to the point of becoming the online version MTG which has millions of active players all these years later, with billions of cards in circulation.

=^..^=

Posted Using LeoFinance Beta

It gets interesting every day! Cheers guys

Posted Using LeoFinance Beta

So much about DeFi I think I will check this out.

Cool, ready to pool some free DEC, as soon as I get the chance. Really Soon!!

Posted Using LeoFinance Beta

Building something great takes time, and this happens because development takes time to see what needs to be done, when will be ready and how it will get on sight of everyone, nice work!

Posted Using LeoFinance Beta

Great News, impressive initiative. Your focus on utility and building opportunities on Hive is awesome and it’s yield will be tremendous!

Posted Using LeoFinance Beta

That's really good .

A timelock is actually much more intelligent in this case as mentioned.

Posted Using LeoFinance Beta

Looks like a good combo @leofinance and @splinterlands hopefully the next move will be to bring @brave.com into the fold, that treo would make a powerhouse on the blockchain

Posted Using LeoFinance Beta

this is very good news. I play at Splinterlands and believe a lot in blockchain gaming. I also believe that DEC will be able to create value in the coming years

Posted Using LeoFinance Beta

Thank you for this great explanation, @leofinance!

What a good time to start investing on #CUBFinance

I'll hopefully would place myself on that race soon!

Posted Using LeoFinance Beta

I can say, this is marvelous! Amazing! Wonderful! Insane! LOL, very smart worker and thinking of the @leofinance group. The knowledege was so incredible! 😳😳😳

Posted Using LeoFinance Beta

Wonderful news for the DEC community and Cub. Awesome work!

Posted Using LeoFinance Beta

Thanks for this info. I am a total newbie here so learning as much as I can. Thanks for the tips!

Posted Using LeoFinance Beta

Congratulations on another successful project !!

Posted Using LeoFinance Beta

Hi team! I need help. When I write a post this does not appear in my blog. My posts are hidden! Any solution or how to fix it?

Posted Using LeoFinance Beta

when coingecko listing sir

Posted Using LeoFinance Beta

it's a great notice and very important information todo, thanks for this

Posted Using LeoFinance Beta

Impressive, I have a Splinterlands account but have yet to use it due to minimal funds and knowledge on the subject. Reluctant to sell my Hive tokens now. I love the idea of earning via gaming though so perhaps one day I will receive the insight required to tap in and benefit from the fun and profits. Any suggestions would be welcome, like how to start.
Many thanks

Posted Using LeoFinance Beta

Very cool! I already staked some tokens in it. Let it rain CUBS!

Posted Using LeoFinance Beta

Mantap