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.
Weekly Income
Harvests this week are on par with what we've been harvesting the past few weeks and the price of CUB is still stable at 1.2 cents. LEO is up again so the amount of LEO we earn is less but hey, your CL tokens are worth more as well.
- Blue = BSC
- Orange = POLY
- Black = Gas tokens
Wallet value is up around $500 from last week with the recent crypto pump over the past few days. Remember that if the wallet value increases and harvests remain stable, the APY for CUBlife declines. This is because same earning divided by a bigger wallet value equals a smaller number.
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.
Roundup
Things are going ok, the APY is not great but only because the wallet has been increasing so not a bad reason. Thanks for checking out the weekly report. Have a great weekend.
