LBI > CL token swap trial finished

in LeoFinancelast year

Hello LBIer's. It has been a busy few days for me i missed uploading this weeks report. Lucky we have free days and i will try my best to get it uploaded tomorrow.

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Today is the LBI to CUBlife token swap day. Last week, i put out a post detailing a trial run on this with the next one being in a few weeks, LBI weeks 2, 14, 27 and 40 will be the next 4 swaps.

Ok, in our 1 week trial, 15 people took up the chance to convert some LBIs into CL's and most took full advantage of the maximum amount of 200.

In total, we received 2624.92 LBI tokens

The current LBI token price is 2.33 LEO
The current CL token price is 4.42 LEO

1 LBI = 0.53 CL

USERLBIs SentCLs to receive
@gungunkrishu200105.26
@vincentnijman200105.26
@oldmans200105.26
@trumpman200105.26
@roleerob200105.26
@l337m45732200105.26
@ecoinstant200105.26
@ecoinstats200105.26
@ifarmgirl49.9326.28
@cwow210052.63
@lammbock200105.26
@chrisparis200105.26
@hhayweaver7539.47
@metzli200105.26
@silverstackeruk200105.26

There will be 1381.54 CUBlife tokens sent out the investors above.

In total, the cost to LBI for this will be $317 which is only a single percentage of just our stable token LP. I honestly thought that a lot of people would have taken advantage of this. 1 of 2 things have happened here and I'm not sure which one.

1/ Nobody knows about the swap, it was only the subject of 1 full post and only mentioned in others as an idea and posts get outdated quickly as more new content is pumped on the blockchain. Maybe more exposure would have seen 50+ investors using this.

2/ Everyone is just happy to hold LBI and has no interest in swapping.

We can run this again in a few weeks' time, week 2 of the next LBI year. I think I will mention it in the weekly reports each week until it takes place to build up some exposure and we will just keep the maximum the same as well. I don't want to increase it to 500 and then get smashed with 100 people, haha.

As for a roundup, not too bad. The info I was able to get out of it has been worth it and it will take a few swaps before we find some sort of ground between demand vs what the maximum swap amount can be.

Ok, I am keeping this one short and sweet, I have to go get into the attic and pull down the Christmas stuff. Wish me luck :)

Your CUBLIFE tokens will be sent to you within 2 hours of this post being uploaded and the LBI received will be burned after.

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I think it's neither reason. I'm not happy with LBI results but at the same time I didn't swap any for CL due to one reason - all those swap will give 10% governance fee to LBI, of which I'll be a shareholder.

Yeah, LBI has been getting it rough. The price of LEO has tanked since launch and our biggest holding (40% of the total fund) is earning 7.6% from curation.

Yep, the bigger CUBlife gets the bigger LBI's 10% gets

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Nobody knows about the swap, it was only the subject of 1 full post and only mentioned in others as an idea and posts get outdated quickly as more new content is pumped on the blockchain. Maybe more exposure would have seen 50+ investors using this.

You could have promoted it for a few days with Ecency points if you want more people to know about it ^^
Or let me know and I can do, I have too many Ecency points xD

I was scared that 50-80 would use what to swap and drain LBI's defi funds.

We'll run another 1 in around 4-5 weeks and we can promote it better than.

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Cool Cool :D

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Being on vacation I missed it, I'm not sure how this helps LBI though?

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It moves seme of our non LEO assets into CL which results in LBI being backed by more LEO per token. And LBI takes 10% of CL harvests so the better CUBlife is the more LBI makes from it :)
Lastly, some investors like to get LEO dividends which LBI is currently not paying out.

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Okay that makes sense now, thanks for the reply buddy.

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I fall into both categories actually. I didn't know about it. I am guessing maybe the post came out on the weekend when I take some time away from the blockchain. Also, I have a decent investment in both sides. I am happy holding onto my LBI. It has always been advertised as a long term investment. No reason to give up on it now.

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Sticking to your guns.

Posts were done on Mondays, we run another 1 in 4-5 weeks time and I'll be shilling this one a little harder as the trial went pretty well.

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It would be un-American if I didn't!

I fall into group 2. I have a bit of both already, and would rather hold on to the LBI I have

Nothing wrong with that 😁

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I moved the funds around just cause I could, which means I can easily see why others didn't.

Any idea why brofund sold their CL under value?

Weird move for an income token.

No idea. Ray always does that, he dumped all BRO's SPI at under-market value as well. Me and Ray speak all the time and have done for years now and he knows SPI offers a 95% buyback. But yea, no idea. He bought nearly 2000 EDSMM last week so maybe he was moving funds about.

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I knew about it but I kind of prefer holding onto LBI tokens over CL tokens. Either way, I am a bit surprised to see so few people jump in though. The post where you talked about it had a lot of people interested.

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Yeah, there was a bunch of people interested. From the list above, about 5 of them sent over 200 LBIs which goes to show people don't really post the posts, they might skim them. Maybe better to make the next one shorter and to the point.

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What does CL pay out? It is a new token for me, I came to LBI late buying up underpriced tokens on the market, and gee look another market to plunder with CL 😅

Pays out LEO every Friday.

All monies from selling CL is added to a CUBfinance farm. 50% of harvests are converted to LEO and issued as divs. 40% is reinvested into a kingdom on CUBfinance and 10% goes to LBI as an operator's fee.

I started this to show people how easy it was to create a simple project hoping others would build for LBI and do some decentralized stuff. But na, people just wanna vote cause they think thats would decentralized means, baa-hahaha. Anyways, don't know how that turned into a rant.

Peace out Bro, cool to see you checking this out.

SSUK

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