CUBLIFE (CL) - Weekly report #14

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.

• Black = Farm
• Grey = Kingdom

We are on week 14 and the past 3 weeks harvests have been pretty much the same at around 400 CUB. There is nothing wrong with consistency and i have a feeling we might earn a little more this coming week because the price of crypto is up. Remember the amount of CUB you earn is based on the $ value of whatever you are staking. We unwrapped 610 LEO, 101 was sent to @lbi-token for an op fee, 450 will go out as dividend payment and the round 50 will be held back to add to the auto compounding fund.

This week we've gone to a new kingdom. We've been adding to the ETH/BNB LP for the past 6ish weeks and we have an ok amount in there now to make harvesting weekly easier on fees. Having spoken about going into the BTC/BNB LP next, we've done just that and with its APY being over 40%, we've got in at a nice time. You can see above we currently have $112 invested into this and we'll keep adding until it's worth over $1000 before planning the next step.

Going back to a 55% APY is ok considering all of our reinvestment money has gone into lower-yielding LP's.

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.

Leo

Hive

Roundup

It's been a great week and i hope next week to be a tiny bit better. Dont forget that there is only 1 week left to get involved with this months group buy. You see we are paying out a 55% LEO dividend and as we had further into this second half of the crypto bull run and CUB launching on POLY, we can expect to see the price of each CUBLIFE (CL) token increase.

Auto-compunding
Someone asked last week to explain what the below-saving plan is for. It was suggested by a few investors that it would be awesome to add some form of auto compounding so instead of receiving a weekly LEO dividend, they would receive more CL tokens instead. We can do this with a small piece of code but it costs 1000 BEE to enable staking. Non staked CL tokens would continue to receive a weekly LEO dividend and people that stake their CL tokens would receive CL tokens to the same value instead. That's it pretty much in a nutshell, we still get a ways to go back we are getting there.

Saving for staking running total.....
16/07/21 - +79.17 LEO - Total 79.17
23/07/21 - +46.95 LEO - Total 126.12
30/07/21 - +23.18 LEO - Total 149.30
06/08/21 - +50.99 LEO - Total 200.29
13/08/21 - +58.73 LEO - Total 259.02

Posted Using LeoFinance ^Beta