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
First things first, all of our farms have been transferred over from V1 to V2. I accidentally invested all the CUB we had earned this week back into the farms but it's ok because we have enough from LEO saving to cover this weeks dividend payout. Secondly, all new CL tokens for September were issued on the 21st, thank you to everyone involved, we minted around 600 new tokens.
This week's harvest is on par with last week. Both CUB and LEO have dropped but it looks like but the exact same amount which is quirky. An APY of 43% is very decent when we consider another 43% is being reinvested into kingdoms. I am happy at this level and i think the LEO div's are still worth it to invest. Still better than LEO miners :)
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
Stables week for CL, not a stable week for crypto but this week's dividends should be the same as last week, maybe a little less. The saving i spoke of are from setting aside 40-60 LEO per week so we can add auto compounding to CUBLIFE. This is will give token holders the option to hold liquid and receive dividends as LEO or staked their CL to receive CL as dividends. The price of LEO is down big time against HIVE and saving 3000 LEO to buy 1000 BEE might take some time when we started saving LEO with almost on par with HIVE. We need a new plan.
SPI will provide a loan of 1000 BEE to LBI to give to CL. The idea behind it is if 50% of people stake, we'll be reinvesting an extra 25% of CUB harvests to CUBfinace and mining new CL tokens to those staked. This will help to grow the total holdings faster, the more holding we have, the more we harvest. The more we harvest, the more LBI's 10% is worth and getting back 1000 BEE will take less time. I think that CL should be a 50k token at least and issuing 500-100 each month will take time. This is all theory, of course, I would guess 40-50% will stake and it'll pay back 1000 BEE to LBI. After that :)
Thank you for taking the time to read through this weeks report, have a great weekend everyone.
