I just wrote a 48 part ThreadCast on Leofinance Threads.
In that thread cast I explained how to go from Leofinance to Cubfinance.
Leofinance is the Hive community devoted to cryptocurrency investing and finance.
That Threadcast is 48 parts because DeFi or decentralized finance is complicated.
And one purpose of explaining it in great detail is to educate people, so they understand the value of the EasyDefi Two Step.
There are roughly 24 steps to take to move your money from your bank to an investment position on Cubfinance, the defi project created by Leofinance.
But the EasyDefi Two Step allows you to earn defi earnings in two steps: Step one send 250 Leo minimum to the Leo Wallet of @easydefi. Step Two @easydefi sends your earnings to your Leo wallet once a month.
Who is EasyDefi?
@easydefi is a project which provides access to the high APR available on the decentralized finance project Leofinance created called Cubfinance.
The @easydefi project has existed almost as long as Cubfinance which recently had it's 2nd year birthday.
The first year the Actual APR was over 80%.
The second year was less, but during that year investors reached a 100& return on their investments, thus they had earned the equivalent of their initial investment and now everything they were earning were all profits with essentially no risk.
The bear market hurt the value of Cub token and Leo token alike, but unlike most defi projects Cubfinance has continued to evolve, change, and still generates monthly profits. While many other defi projects started at the same time as Cubfinance have closed down because their tokens are worthless and the projects have not evolved.
I did stop sending earnings weekly and reduced it to monthly, when the amount of profits decreased in the bear market, but the profits have continued coming and I have continued to pay pool investors by send the earnings to their wallets.
You don't have to take my word for this however, each months earnings are publiched in a post, along with wallet pictures of all the transactions paying the investors. This is the blockchain, and it is all documented.
Speaking of earnings, today is earnings day!
Each month @easydefi publishes a post featuring the current ledger or list of investors and their investment, along with the current months earnings.
The ledger for this month is below.
Easydefi earnings May 14th, 2023
Ledger
This month earnings for the pool were over 664 Bleo.
66 Leo goes to @easydefi for administration, 598 was distributed to pool members.
The @easydefi post also uses screen shots of the wallet transfers.
Becuase of the new Leofinance User Interface the current wallet transaction section isn't visible.
However Hive Engine has it's own blockchain explorer. HE Explorer. This is just like the blockchain explorer on Ethereum and Hive.
So I have posted the screen shots for the Hive-Engine Blockchain explorer which show the transactions from this account @easydefi and shows the earnings payments to investors.
Please note that the webpage for the Hive Engine explorer is visible in the picture and you can verify the transactions yourself.
Screen shot of wallet transfers
Earnings were distributed via wallet transfer and should be in your wallets.
I must note that the many changes in the Leofinance and Hive frontends and the recent hack of Sushiswap on Polygon have created issues for me transferring funds between blockchains Hive, Binance Smart Chain and Polygon.
I have created new wallets to hold the funds to protect against hacks, which tried to exploit the vulnerabilities of Metamask permissions to these sites.
While I initially revoked those permissions, the Polygon Network was unfortunately unable to process the large numbers of transactions requesting permission revocation, despite me paying very high gas fees to incentivize the transaction processors to choose my transactions for processing.
Fortunately there is always a plan B, and I created new wallets with no permissions to exploit and used the connections between wallets to transfer the funds quickly.
The funds are safe but currently stuck as Liquidity Provider tokens, and as soon as Sushiswap recovers and I can redeem the tokens for pleo and USD stable coin when Sushiswap allows redemptions I will transfer all the PolyCub investors funds to Cubfinance.
While I personally guarantee the safety of the funds, these issues have delayed the deposit of these funds into the Cubfinance Farm for two of the investors, but the I will finish the deposits this week.
If you are one of the two whose funds have not yet been credited to the ledger it is due to this delay, but your funds are safe and will soon be credited to Cubfinance. - I anticipate your names will be on next months ledger with the proper amounts.
I apologize to the Polycub investors whose funds were safely deposited on PolyCub during the Sushiswap hack, so they were not stolen, but the Sushiswap hack has made it diffiuclt to reverse the steps needed to withdrawal the funds, since the farms on Polycub use liquidity pairs on Sushiswap I must submit liquidity provider tokens to the site to recvover the funds properly. I didn't anticipate the delay so far in Sushiswap restoring LP token refunds.
But I have moved the LP tokens to new wallets and soon as Sushiswap restores these functions the LP tokens will redeemed for the assets of PLEO and USD and converted to bLEO and those accounts credited and moved to Cubfinance.
Since the delay has been protracted I will most likely liquidate my own assets on Binance Smart Chain soon to deposit those funds in the place of investors funds which are stuck, so those investors can again start earning.
EasyDefi is a longterm project, now in it's third year of existence
This project is a lot of work, but I will continue running it, as we now start the third year of it's existence. This is because everything here on Hive and Leofinance are longterm projects.
I have been with Leofinance since the beginning when it was called Steemleo, and it was a much smaller project with only two applications. Which now has grown into about 13 applications, and is beginning to make real all the projects Khal talked about in the beginning over 4 years ago.
Leofinance predates Hive, and my association with leofinance predates Hive. I say that not to boast or brag, but to make a point that I have been here since the beginning and I have no plans to leave. So if you invest your funds with me you are investing them with someone who has been here for a long time and plans to be here for a long time.
If you have suggestions for improving the project you can list them in the comments below.
Transparency: Trust but Verify
I think the project is very transparent since it has an identified account @easydefi and the combination of the wallet page, the Hive-Engine Explorer and the transaction record on Hive Engine Exchange are all sources for you to verify all transactions from this account.
So there is really nothing you can't look up and verify yourself.
Last Words
I am just one person, with a single brain, so although I have been involved in cryptocurrency from many angles like cryptocurrency mining, building computer miners, learning about the precursor to Hive called Steemit and the smart contracts which underlie Hive and underly defi I can still learn.
I hope I am learning everyday.
If you have comments or suggestions, place them into the comments below.
I will be evaluating your replies to see if there are things which would make this project more attractive to more investors. And more transparent.
