Wow a fantastic feat considering there's still an airdrop to come.
Obviously that hasn't stopped a massive influx of capital and yield farmers in search of their next harvest!
Hungry yield farmers have descended upon the newly launched Cub DeFi platform in search of massive yields.
New DeFi yield farming platforms are exciting, and usually offer the best APY's around until the pools reach a greater level maturity in terms of participants.
The brand new platform has quickly amassed a current TVL of $6,139,851 and counting.
All this despite the airdrop that is yet to hit LeoFinance.io participants with the aim of encouraging engagement with the newly minted DeFi platform.
The CUB DeFi platform utilizes a UI format that many are likely already familiar with, think PancakeSwap or Goose Finance, as it's a PancakeSwap fork on the Binance Smart Chain (BSC).
How Does This Stack Up Against Other DeFi Platforms?
According to https://www.defistation.io/ which tracks TVL across the Binance Smart Chain $6.1M is good enough for 19th spot!
I can't wait to see CUB Finance listed here and climbing the ranks.
A Top 20 BSC DeFi platform Within 24 Hours!
CUB DeFi is Community Backed
One of the very unique elements of this newly launched DeFi platform is that it hits the ground running with the backing of a strong crypto & finance enthusiast community from both the LeoFinance.io blogging platform and the HIVE Blockchain and associated Dapps.
LeoFinance.io and it's team have a good track record of delivering on their road map and have found impressive early success with their crypto blogging platform and native LEO token.
What's more is that the LEO team is also on the verge of launching a brand new micro blogging platform to compliment it's current offerings.
This is a trusted development team with a good track record backed by an enthusiastic community, all the makings for some early success in the DeFi arena.
Deflationary Features
It should not go without mentioning that the CUB token economy was created with a unique deflationary buy and burn mechanic.
100% of vault revenue is used to buy back tokens and burn them.
That's 80% to buy back and burn CUB and 20% to buy back and burn bLEO (LEO).
bLEO is the wrapped version of the LeoFinance.io native LEO token that is used with the Binance Smart Chain.
The Binance Bridge allows you to wrap your crypto assets (LEO, BTC, ETH, XRP, USDT, BCH, DOT, and many more) for use on the Binance Smart Chain in the form of BEP-20 tokens.
Plain and simple the more participants that stake capital in the CUB DeFi vaults the more CUB & LEO that is burned from supply!
There are currently 10 Farms that have a deposit fee between 2-4%, and an additional 9 single asset pools also with a 4% fee.
Burn baby burn!
All The Documentation
A substantial amount of documentation can be found over at https://docs.cubdefi.com/.
This includes Road Map, Apps Overview, CUB Tokenomics, and How To Guides to help get you started.
This post was also shared on Publish0x here.
Ciao for now,
Additional LeoFinance Content:
- Stack Your CUB's Now & Compound That Yield!
- Starter Guide to Earning A Crypto Income
- CUB Finance Surpasses $5,000,000 TVL in Under 24 Hours!
- Global Household Brands Now Rapidly Moving Into Crypto
- Ethereum EIP 1559 Explained In Under 5 Minutes
