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RE: UI Refresh, LeoBridge, Kingdoms Release and Major Farms/Dens Update

in LeoFinance4 months ago

So what is happening to the crypto that is staked in the dens that are going inactive? Does it return to metamask automatically or does it need to be pulled out manually? What happens if someone does not visit the site during the grace period to pull out their coins?

Honestly, this seems very unfair for the people that PAID 4% to stake their coins in dens that offered exposure to quality projects. Personally, most of my stake (outside of cub) is in BNB and DOT. So basically, I sacrifice 4% of my crypto for only a couple weeks of yield, and now I'm forced to abandon those positions, which I paid to enter???? What if I don't want to take larger positions in bitcoin or eth? I mean, I don't want to hold ethereum period, thats why I'm on the binance smart chain in the first place. How can decreasing the number of options be good in any way? This is honestly very upsetting. I've already gotten vaporized buying your hyper-inflating coin and now I can't even hold the coins on here that I PAID to do so to try to earn back some of my losses. BTW, I have over 10k vested on the site, so I'm not some monkey with 16 cub shit-posting here.

I do like the autofarming option, that seems good. Also, glad you're not going down the layered farming road.

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Honestly, this seems very unfair for the people that PAID 4% to stake their coins in dens that offered exposure to quality projects. Personally, most of my stake (outside of cub) is in BNB and DOT. So basically, I sacrifice 4% of my crypto for only a couple weeks of yield, and now I'm forced to abandon those positions, which I paid to enter????

I totally understand this frustration and I immediately thought that people in those positions will probably feel left out, when I read the announcement. But you if think about it, you have easily made back these 4% plus some gains. Even now the DOT-BNB farm gives over 4% per week and from your comment I assume you have been farming early on and hence have seen much higher APR at the start.

DOT trades now lower than at the start of CubFinance and BNB only slightly higher. You could sell your CUB now and buy back DOT and BNB and stand at a better position than before. Or you keep hodling your earned CUBS and throw them in the Den, which will get a 50% higher APR with these updates compared to right now. With that extra APR you could buy new DOT and BNB over time and not even loose your CUB position. All in all not the worst outcome, but yes, it could have been handled better.

Obviously, none of the above relates to any direct investments you might have made into the CUB token itself, but that is unrelated to the farm and den changes anyway.

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Despite being in fairly early (day 3ish), I am in fact not in profit. Anyone holding any position in the farms is likely not in profit due to impermanent loss with the price action of CUB. Leo is now forcing farmers to sell off and realize that impermanent loss without the opportunity for the CUB price to rebound. I understand that we were in a hyper-inflationary period and this would likely happen to the price of cub before the block reductions and I was fine with that. I assumed that I would be allowed to hodl through the chop and leave the farms, if I chose to, when the CUB price rebounds. I was betting on the price rebounding from a successful rollout of the bridge and audits posting. What they are doing now is virtually a rug-pull for farmers, because they are forcing them to realize a loss that is supposed to be impermanent. No yield farmer ever expects the farm to be dissolved in 2 weeks.

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I completely agree because I too have A DOT den, and yes I have made money back, but that is beside the point. Not a fan of this change personally. But it's not my project. I will be pulling my DOT out with no other use case for it except to hold and not farm with, thanks guys. This seems like a backwards step honestly.

If you entered those pools early you've definitely made profits and you're not in loss, despite the 4% fee.

All the changes being proposed are for a prosperous LEO/CUB economy. The fact that the team offered a lot more options to those who wanted to participate unlike many other teams out there doesn't mean that they can't implement changes for the greater good. What would you do if there wasn't a DOT den in the first place? You'd watch from the sidelines?

People need to understand this: Every block a new CUB token is produced. Then it "splits" in 140 pieces (that's the multiplier you see). Then, 40 of those pieces go to CUB/BUSD farm...24 to CUB/BNB farm...and so on which are finally "given" to those in those pools depending on the stake they've locked. How is it fair for the rest that DOT/BNB has a 6x multiplier when traffic in that farm is close to zero?

BTW, nobody forces you to take larger positions in ETH or BTC...just don't use the new feature.

Again, all the changes are for a prosperous CUB economy. NOT for a prosperous DOT/ADA/XRP...whatever coin is out there...the fact that you did have the option to stake your DOT and earn CUB in the first place was just a bonus.

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You have drank some delicious cool-aid.

Posted Using LeoFinance Beta