If you're in Cub you've noticed the pretty rapid decline in price over the last day or so, related to the declining Total Value Locked in the platform - it's down $500K today alone, and with only $16 odd million locked Cub is settling in to be a pretty small-fry BSC defi outfit.
I think there are four main problems that need to be addressed to sort out the declining price...
Three of them we can do something about, the fourth we cannot, although sorting out the first three would help with the fourth
Improving Visibility
One problem that could be solved pretty easily is that Cub has near total invisibility outside of the LEO ecosystem - recent @leofinance posts about the bridge and ongoing developments probably reaching only a handful of people outside of the leo shill-bubble, which frankly in the context of the declining price looks laughable.
And it doesn't help that Cub isn't even listed on Dapp Radar. It should be right below Autofarm in terms of TVL, but it's just not there:
In fact I can't see any sign of Cub anywhere on any DEFI tracking platform, it's just non existent. So if you were looking for a new-ish platform to stake to, then you wouldn't find it find from outside of the Leo ecosystem.
And you might not notice it from within the Leo ecosystem either - a link in the LEO APPS section would be a pretty swift addition!
At the end of the day, we're not going to see a bottoming of the Cub price, let alone a rise until more people start buying and staking!
Clearly Lions have had enough of buying and staking themselves, so we need fresh blood.
Shilling the 'security' because of the team's track record is something we could do....
Personally, the reason I'm staying staked in Cub is a trust thing. Don't get me wrong, I don't trust Binance or CZ, I'm taking a risk there, but I do trust the Leo team to not switch off Cub Defi and do a rug-pull on me.
I can put a face to the guy behind @leofiance, and he does regular vodcasts and is directly contactable on Discord - I know the guy, and he refunded us when WLEO 1.0 was hacked.
I don't know anyone behind any of the other Defi platforms, hence why I'm reluctant to put signficant funds into any of the others, the double risk of staking to a platform run by people I know nothing about built on a centralised clone of ETH run by (frankly) a criminal by accessory who colluded in selling out Steem - that conflation is a risk too far, but at least knowing Khal's track record reduces the risk of loosing all my funds on CubDefi.
So the returns on Cub may be declining as the Cub price declines, but to my mind it's one of the more secure options for my funds on BSC.
Maybe banging on about this could help drive the demand for Cub? (Banging on about Trustworth Cub, not Risky BSC)
Stop selling Cub/ or at least sell and stake back into Cub
Remember six weeks ago when everyone was staking their Cub and seeing mental returns, that was a shit time on Leo, wasn't it!?! All you had in your feed was cub cub cub, fucking cub.
That lasted as long as people were stacking it.
The last month has seen most people selling it for whatever other coins take their fancy and mostly NOT reinvesting it all back into Cub - certainly not in the last day or so.
At least if you are going to sell cub, re-invest it back into CubDefi for the burn fees!
I guess it's a case of 'together and loudly we rise, divided and quietly we fall' - honestly I tracked back through 8 hours of posts earlier today (16.00 Sunday ATW) and found NOTHING about the Cub or Leo price.
I guess that isn't surprising, why write about selling Cub, no one else is gonna upvote that!
The ultimate problem is the intense Defi Competition....
PancakeSwap and Bunny continue to offer some pretty reasonable returns in BSC land, and both are very visible and now well established by DEFI standards, and these are, well, attractive!
And then there's the perpetual shiny new...
You've no doubt heard of Panther's success by now, it's pretty much what we all hoped for Cub but that's happened there, not over here.... it's 12 days old, has a TVL of $200 million and on the back of that is able to offer those insane thousand percent returns and a rapidly increasing token price.
And I imagine some other new platform will pop up before the end of the month is out.
In the meantime I've got this depressing image of a Panther holding down a Lion Cub and the cub Whimpering while the Panther roars.
Final thoughts - We need to break out of the Leo Bubble
So it turns out that Cub grew mainly because of money from Leo pumping into it, but there's little evidence of outside money coming in.
While things were good, we were great at convincing ourselves that Cub was going to 'kill it', but let's face it, we're useless at telling ourselves the current truth - Cub is whimpering in the face of the competition, and it seems that people are gradually pulling out to take advantage of the similar or better returns on other Defi platforms.
I mean, this is a finance community, and we are all here to make money, right?
Maybe for Cub Defi to be a success, we need to start striking up partnerships with BIG blockchains and or companies to try and bring in serious money, like @azircon has mentioned?
Whatever we do, we need to do something to generate more demand for Cub, something other than tweeting about it, which doesn't seem to be doing much at all ATM.
I get the uncomfortable feeling that we've reached this point in the LEO journey where it's kind of gone:
- Hive pumped LEO
- LEO pumped Cub
- Cub pumps nothing.
In other words, Cub now has the same problem Hive has - people are just happy to milk and sell, and what both need are buyers!
Honestly, comments welcome, how do generate more demand for Cub in this intensely competitive Defi Space?