$197k CUB Burned, $38k bLEO Bought & Burned | BSCGemz AMA In 5 Hours and Future Plans

in LeoFinance4 months ago


What a week! It's been 7 days since the launch of CUB and this is a significant milestone for a number of reasons. All week, we've been lining up AMAs, collaborations and a collection of influencer marketing campaigns to spread the word about CUB.

@nealmcspadden and @khaleelkazi went on MSPwaves and talked to Crim about CUB, LeoFinance and the DeFi space for 2 hours over the weekend.

This week, we've got over 6 major AMAs/collaborative events planned along with a number of key puzzle pieces fitting together for Cub Finance's future. We're only 1 week in and there is a lot of work that is yet to be done.

This coming week will kick off a lot of these major events which will run into the forseeable future. Today (about 5 hours from when this post is published), we'll be doing a live AMA with the BSCgemz crypto community on Telegram.

This is one of the largest Binance Smart Chain communities out there and they have a large and loyal following. It's going to be a fun time and it will bring a lot of outside awareness to both CUB and LeoFinance.

If you want to join us, hop in their Telegram and get ready. Here's their official announcement of our upcoming AMA:



Vault Revenue Burns

80% of all vault revenue on https://CubDeFi.com burns $CUB and 20% buys, unwraps and burns $bLEO.

Cub Finance is nearing on $500,000 USD in vault revenue collected via the platform.

We're planning on publishing regular burn reports (likely about 1-2x per week from the @leofinance account and our other platforms). These reports will dive into the details with TXIDs, tracking and all of that. We've seen a lot of people asking in Discord about various reporting stastics, the frequency of burns, etc. and we'll dive into all of that.

It will be a nice return of a similar burn report we used to publish when LEO first started (of course, the numbers we're dealing with now are just a bit higher).

CUB Burns

43,335 CUB has been burned (~$197,482.08 USD)

An easy way to view the real-time figure of CUB burned is on the https://cubdefi.com home page:


LEO Burns

35,628 bLEO has been burned ($38,478.67 USD)

The LEO burns are a little more complex than CUB burns. The vault treasury purchases bLEO from the bLEO-BNB pool on Cub Finance and then unwraps that bLEO into native LEO automatically into the @null account.

We do this because bLEO is just a representation of the LEO token on the Binance Smart Chain. Being a wrapped token means that each token has an equivalent Hive-based LEO to back it up.

Once the unwrap is completed, the bLEO returns to a cold wallet but the LEO representing that bLEO is automatically sent to @null and burned permanently from the LEO token supply.

The amount of LEO we're burning is unlike any other burn rate we've seen. For context, we've burned about 3 years worth of ad revenue in 7 days of Cub Finance.

Vault Treasury

The vault treasury continues to grow. A 4% deposit fee is collected whenever a user deposits to vaults (excluding bLEO/CUB-related vaults/dens). This deposit fee is then held in the Cub treasury and the 80/20 split buys & burns both CUB and bLEO. Our in-depth burn reports will cover more of these details soon™️

CUB Per Block Rewards Decreased

Week 1 = 3 CUB / block
Week 2 = 2 CUB / block
Week 3 = 1 CUB / block

Today marks 7 days after the launch of CUB and the block rewards have already decreased from 3 CUB to 2 CUB per block. This means that yields are lower but it also means that there is a signficantly smaller amount of CUB entering the market each day. Considering the diamond paws we've experienced so far as the CUB price follows a similar early trajectory as platforms like EGG, this could lead to a positive impact in supply vs. demand and the price of CUB.


Audit Status


We've hired a professional auditing company called "CertiK" who are well known for auditing various smart contract platforms and DeFi applications.

After speaking with them again today, we should be only one or two days out from having their review publicly released along with Skynet deployed on the CubFinance smart contracts (Skynet is their auditing system that will watch the contracts/related addresses for any unusual activities and instantly alert us and the community if/when something is detected).

Their analysis will discuss the security of our contracts and give us suggestions for anything that could be done to improve our security. One thing that has already been made clear is that our contracts are virtually as safe as Goose Finance due to the nature of our adaptations (non-essential naming variables changed while business logic remains untouched).

Once this audit is published, Cub Finance will be listed on the CertiK project leaderboard. Many people in the BSC/DeFi space look to these audits before jumping into a project at all.

We were hoping to have the audits live right on launch day or very shortly after. They're a few days later than we anticipated, but these audits have been extremely thorough and once Cub Finance hits the CertiK project dashboard, the security of CUB and our smart contracts will have a great deal of visibility.

CertiK offers other services that we're exploring including CertiK "shield" which can protect capital in smart contract platforms like the contracts being used by Cub Finance. We're exploring every option and as stated in the Cub Finance docs, security is the #1 priority. We'll always opt for heavy auditing and secure procedures whenever possible.

DeFi can be a scary place. Lots of capital and bleeding edge tech. Always do your own research and understand the risks and mitigation techniques out there.

Upcoming AMAs and Collaborations

As mentioned above on March 15th (about 5 hours from when this post goes live), I (Khal) will be appearing in the BSCGemz Telegram group for an AMA about Cub Finance, LeoFinance and our upcoming LeoBridge feature.

We've got a few telegram appearances lined up as we've reached out to a number of different BSC groups and have also had a bunch reach out to us wanting to learn more about the hottest new yield app on Binance Smart Chain. Turns out that crossing that $5m TVL number had an interesting impact on exposure and crossing $10m accelerated it to a whole new level.

Many of these groups are asking about our certification and audit status. It's going to be a major moment when that audit is certified and CertiK adds us to their dashboard. Many in the space look to these audits as a seal of approval to finally jump in and join the platform with their capital.

We're excited to see how this plays out as the Telegram appearances start happening on the 15th of March and the Audit is officially published around the same time 🚀🚀

The Future of Cub Finance

A lot of people are asking about the future of CUB, bLEO and LeoFinance. The future of our platform is in constant expansion and adaptation. As stated through our official content and the Cub Docs, our #1 goal is to expand the scope and scale of the LeoFinance community and ecosystem.

Deploying applications like Cub Finance is a great engagement tool for our existing community but the vision is much more long-term than that. LeoFi is our DeFi branch of LeoFinance. The plans in the near-term roadmap include:

  • LeoBridge (#verysoon)
  • Leasing (#verysoon™️)
  • Lending (#soon)
  • Synthetic Assets
  • ...

Cub Finance has given us a base layer platform to build on top of. Many of you already see the power in adopting well written, battle-tested smart contracts. The power of the DeFi space is in composability, usability and open source technology. We can reshape any smart contract and repurpose it for the LeoFinance ecosystem through CubFinance.

The roadmap for Cub already lays out some of the ideas we're working on right now. The project is centered around this idea of DeFi composability and adopting successful smart contracts from other platforms and plugging them in to our community ecosystem to serve key functionalities. As we get closer to releasing these ideas, more details will be announced before we announce the announcement of their official announcement dates.

New LeoBridge DeFi App

The new LeoBridge application we're building is extremely exciting. As of right now, there is no easy way to swap Ethereum (ERC20) assets for Binance Smart Chain (BEP20) assets. There is something called Binance Bridge but it requires a multitude of steps and an account at binance.com.

LeoBridge will leverage the unique tri-token economy of LeoFinance. We have wLEO, LEO (native) and bLEO.

When a user wants to swap ERC20 assets for BEP20 assets, they'll enter their input ERC20 and their output BEP20 on our new LeoBridge web application.

It will look similar to AMM swap pages (i.e. https://exchange.cubdefi.com) but it will have the LeoBridge backend. To the user, it's as easy as entering an ERC20 input and a BEP20 output (or vice versa). On the backend:

ERC20 -> wLEO -> LEO -> bLEO -> BEP20


BEP20 -> bLEO -> LEO -> wLEO -> ERC20

A 0.25% swap fee will be collected on every trade and sent to the CUB / bLEO treasury where it will be split to burn both CUB and bLEO.

One of the most exciting things about this application is the awareness it will bring to Cub. One of the most fundamental steps to turning CUB into a successful DeFi platform in the long-run is adding new use cases and revenue-generating mechanisms that set CUB apart from other DeFi platforms.

In less than 14 days after launching, Cub Finance will already have the LeoBridge application added to it's suite. This will make CUB the most unique DeFi yield app of it's kind and we'll continue to add new contracts and applications to this base layer that we're just getting started with.

Posted Using LeoFinance Beta


You should update the roadmap in the CUB docs to reflect what was put in this post. There is nothing there about leasing, lending and synthetic assets.

Also, it looks like layered farming has been put on the back burner, which is not bad given what is happening with Goose. Maybe that should be reconsidered, what do you think?

Posted Using LeoFinance Beta

What happened to Goose?

price down

An important question.
What happens to ready-to-harvest stake on farms after staking more LP tokens?
I've harvested tokens and during the time I was swapping, adding liquidity, a small portion of another harvest appeared.
After staking more tokens on a farm the harvest indicator went to 0

I also noticed this, my work around was to either always compound or harvest BEFORE adding more liquidity otherwise it wasn’t added to the total

You harvest them if you stake more of the same or unstake.

Yeah I have wondered about this too.

Posted Using LeoFinance Beta

I don't know how you guys on the LEO Finance team have the energy to do it all! I have to take Geritol® just to keep up with all the new announcements!

LEO Finance requires Geritol to keep up

Posted Using LeoFinance Beta

The remarkable rate of progress on the LeoFinance "front" continues. Having made a major investment into Cub Finance, I am really looking forward to experiencing firsthand with the LeoBridge can do. God knows how many of us have experienced the challenges of the alternatives "out there" at the moment.

If as brilliantly conceived and well executed as what I have seen of the LeoFinace team since "jumping in" in July, I have no doubt it will be a huge success.

Onward and upward! 🦁🚀

Posted Using LeoFinance Beta

Was brought here by @warpedpoetic and I now understand his excitement over you guys. I intend on earning some Leo the old fashioned way of blogging but I feel just like Mwalim, there is a need to invest in Cub and hang in there for dear life. The deal is too good to pass out due to the fear of not knowing exactly what to do which is what happened when you launched LeoFinance.

An extremely well done article. Easy even for newbies like me to digest :)

Posted Using LeoFinance Beta

Welcome. 💕


Posted Using LeoFinance Beta

I love this!!! Looking awesome in terms of traction so far with tons of room still for growth. With a solid trusted platform I believe more and more will start entering into CUB from other DeFi platforms and all that time we will be burning cub and more importantly at least for me LEO! Less supply higher $ value per coin. But honestly LEO holds so much more value than just being another tribe token it's the foundation of it all!

Is there a formula or something for the APR? What level is the rate expected to level off too?

Posted Using LeoFinance Beta

This project is so fucking cool. Burning vault revenue by itself is insane, but now you're going to bridge ERC20 to BEP20, and burn those swap fees too? Damn. Can't wait to hear more about that audit, and leasing/lending too.

Posted Using LeoFinance Beta

"The amount of LEO we're burning is unlike any other burn rate we've seen. For context, we've burned about 3 years worth of ad revenue in 7 days of Cub Finance."

This jumped out at me.

Remember those achievable numbers that @nealmcspadden and the lads were running to get to a $10 LEO base on ad burns alone?



"As of right now, there is no easy way to swap Ethereum (ERC20) assets for Binance Smart Chain (BEP20) assets."

Anyone that's tried to do this knows how much of a pain in the arse it is.

This use-case alone could attract millions of dollars of flow through CUB.

Again, wowsers.

Posted Using LeoFinance Beta

I am intrigued to see how LeoBridge will work live, exciting changes in the coming weeks, this is a team that cares about implementing changes in their projects, keep it up!

Posted Using LeoFinance Beta

I was wondering why is it so hot today? Everything around is on fire !!!!

Posted Using LeoFinance Beta

Burn burn burn burn! Great write up, looking forward to the new projects

Posted Using LeoFinance Beta

fantastic news. awesome roadmap. I am happy that I joined again last week after a long time of inactivity. Can't wait what the future will bring us. kind regards, Ron

Posted Using LeoFinance Beta

i am so freaking excited! you guys are continuously doing a fantastic job and execute everything you put your mind on with success. I am super excited about the fast progress and success and i can't help but feel extremely hyped about both the price that will Leo reach in a couple of months as well as for the launch of projectblank!

Posted Using LeoFinance Beta

Love how much effort you guys are putting into promoting Leo and CUB :)

Posted Using LeoFinance Beta

For context, we've burned about 3 years worth of ad revenue in 7 days of Cub Finance.

In my opinion this is a major step in decreasing the LEO supply in a drastic manner. Can't wait to see what kind of effect this will have on the LEO price.

Posted Using LeoFinance Beta

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

Your post has been extremy appreciated and was the most upvoted of the week
Your post got the highest payout of the week

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!

Amazing report with so much more to come into the CUB Finance space that my mind is blown what it needs to do. I like that part of the CUB revenue is used for LEO burning (7 days burning equivalent to 3 years of LEO burned, that is crazy) which should strengthen the price of LEO as well. A well oiled DeFi machine!

Posted Using LeoFinance Beta

I'm up for the uniqueness! Awesome job guys! Love it love it love it

Posted Using LeoFinance Beta

Great way to give us a roadmap to know what to expect and be ready for the new developments

Posted Using LeoFinance Beta

Leo Bridge is huge! Plus fees burn CUB and LEO 50/50, which is great.

Posted Using LeoFinance Beta

Millions of dollars of transactions could be flowing through there if it is one of the few (if not the only) ways to go from ERC20 to BEP20.

It is a pain in the ass right now.

Posted Using LeoFinance Beta

That's highly probable, given the huge funds that are on ERC-20 tokens and on BSC-20 tokens and still the many folds higher fees on Ethereum. And 0.25% of those transfers represent fees, which will be used to burn LEO and CUB.

Posted Using LeoFinance Beta

We're going to really have to start curating or we're going to burn our own tokens right out of existence. lol Just kidding...

Posted Using LeoFinance Beta

They buy LEO from the market. If you don't sell, there's nothing to buy. And the buy pressure keeps building up and up and up... ;)

Posted Using LeoFinance Beta

I'll be back, #soon



More info why you see this.

Posted Using LeoFinance Beta

HODL strong your CUB my friends! This journey is just getting started.

Posted Using LeoFinance Beta

What can I say, it's been a great week, and it's clearly set to be a great rest of 2021!


Love it!

Posted Using LeoFinance Beta

Tuning in for AMA

Posted Using LeoFinance Beta

Way to go team! I will try to be around for the AMA. Keep taking Leo to greater heights

Posted Using LeoFinance Beta

Amazing week passed! Imagine the numbers, 7 days equal 3 years in terms of burns. Let's see how it will evolve this year!

Posted Using LeoFinance Beta

I can't find any article about impermanent loss on cub finance, does it exist for example on the CUB-BUSD pair?

This BEP20/ERC 20 issue gave me some headaches over the last week. Can’t wait for things to bridge since I won’t KYC @ Binance.

Posted Using LeoFinance Beta

Well worth the .25% to use that platform to swap the tokens.

Posted Using LeoFinance Beta

Love seeing those burn numbers, great work team!

Once this audit is published, Cub Finance will be listed on the CertiK project leaderboard. Many people in the BSC/DeFi space look to these audits before jumping into a project at all.

This is of key importance to me, great to see there's progress and the audit report is incoming shortly. Once this is complete it would be great to see cub finance listed on a couple BSC defi trackers such as https://www.defistation.io/

Posted Using LeoFinance Beta

I need more Leo :O

Posted Using LeoFinance Beta

Started farming on the first day and now I can't imagine my life without CUBs!

Posted Using LeoFinance Beta

Absolutely amazing!

Congratulations, @stayoutoftherz You Successfully Shared 0.300 WINE With @leofinance.
You Earned 0.300 WINE As Curation Reward.
You Utilized 3/3 Successful Calls.

Total Purchase : 24376.125 WINE & Last Price : 0.290 HIVE

WINE Current Market Price : 0.271 HIVE

Everything is just good news with you guys.

Posted Using LeoFinance Beta

A lot of things happening behind the scenes so to read, I'm very excited for the other things to launch and see what opportunities that will bring. Keep up the good work!

Posted Using LeoFinance Beta

thats a lot of dead cubs! hope leo branches out and tips its cap to Hive blockchain eventually and burns a few hive too.

You Blow My Mind GIFdownsized.gif

Posted Using LeoFinance Beta

This update serves as reassurance for
making the bridge for this community
to try uniswap and now our own cubdefi
and soon leobridge,
I have to say we are spoiled and we like it.
Keep them coming


Posted Using LeoFinance Beta

Hey @leofinance, here is a little bit of BEER from @pouchon for you. Enjoy it!

Learn how to earn FREE BEER each day by staking your BEER.

Just keep building it one piece at a time. The "bridge" will be a very nice feature.

Posted Using LeoFinance Beta

That's huge!

Well done, LEO team and lions.

Posted Using LeoFinance Beta

Freaking exited for all updates. It's been a good User experience. Keep it up.

Posted Using LeoFinance Beta

hey folks. so I just jumped in to the CubFinance thing over the last few days and Im loving it so far just with a few cubs in the den! Now Im thinking about putting some Eth/Dot in and just wanted to ask....
Should I transfer coinage to binance and then to metamask to get it on to the BSC or is there a more direct route or is that what LeoBridge is all about, and should I just wait for that? Ta folks :slight_smile:

Posted Using LeoFinance Beta

LeoBridge (#verysoon)
Leasing (#verysoon™️)
Lending (#soon)
Synthetic Assets

Do a roadmap. Its essential you have a roadmap laid out before you do anything else.
People dont like uncertainty. Some have even said that openly after the ama. LEO investors you already made money trust you blindly, they wont mind, but everyone else will.
You cant just wing it and think thats convincing to the guys on BSC. Youre just creating unnecessary hurdles for the project by trying to convince a nonbeliever with non concrete and vague promises of "something".
Lay out plans and make it clear in the future amas what you will deliver... Not simply say: "Wer gonna make some stuff." It makes folks think you dont actually have a plan.

Its not a popular opinion but I was not a fan of last nights ama.
Looking forward to a shift in approach.

I didn't know the Defi world before your project and now I am happy to have got to know it with Cub Finance :)
Great work and thanks a lot

Posted Using LeoFinance Beta

este proyecto es muy bueno se ve super cool , me quiero unir pero tuve algunos problemas ya e publicado un post en la comunidad de leofinance asi que e gustaria de que alguno me pueda ayudar en ese post hago algunas preguntas que quiero que por favor me expliquen ya que es mi primera inversión en Cub fiance

Cub Finance is nearing on $500,000 USD in vault revenue collected via the platform.

Impressive milestone congrats to @leofinance team.
Coin burn is a way too add more value to its economy and with reduced supply value will increase for sure. Nice update

Posted Using LeoFinance Beta

Good news

I was wondering why is it so hot today?lol

Posted Using LeoFinance Beta