Hey everyone! Welcome to the long-overdue CUB March Burn Report. In the sooniverse, time is all relative anyways, right? We were waiting on some data from the team to get the report pushed out but now we've got everything ready.
In the month of March, 855,000 CUB was issued for LP Incentives through the 1 CUB / Block Inflation.
In the month of March, 858,537.83 CUB was burned by the CUB DAO. This marks the very first month ever that CUB is deflationary.
Wen Price Moon?
We actually don't want the price of CUB to moon. Not just yet. The Multi-Token Bridge has done an amazing job of getting us to this point. The CUB price being so low is a huge part in enabling the DAO to buy/burn more CUB than is issued on a monthly basis.
If the CUB price stays low for the forseeable future, we can eat away at the inflation created in the past 2 years since CUB was launched. That is our ambition.
The CUB supply is just over 21M tokens right now. Our goal was to first flip deflationary on current months (which we've now down as of March) and now the goal is to eat away at that previous inflation each month.
For example, if we can burn 1M CUB tokens in a single month, then we'll be eating away at 150k in previous inflation.
CUB is one of the oldest DeFi platforms out there. It survived the massive DeFi boom/bust cycle. We've emerged with an incredible model and opportunity with the Multi-Token Bridge.
CUB has also undergone some tough times in terms of liquidity and negative sentiment. We talk about that more in the report and also talk about all of the plans we have now and in the future for CUB.
For now, we aim to not only keep our deflationary status for CUB but actually grow the amount of CUB being burned each month so that we can reduce the supply and return to the glory days. Growing the MTB is at the core of this.
Enjoy the report!
About LeoFinance
LeoFinance is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: LeoFinance.io allows users and creators to engage & share micro and long-form content on the blockchain while earning cryptocurrency rewards.
Our mission is to democratize financial knowledge and access with Web3.
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