Daily CUB Report | HIVE HF26 and The Growing Need for Decentralized HBD & HIVE Liquidity
Well, it's official! Hardfork 26 is live and we can now see all of the changes implemented.
There were a number of changes made to the Hive blockchain. Some of them were related to resource credits and others were related to HBD.
Being that this is CubDaily, we're gonna focus on the updates to Hive that impact CUB! The HBD Changes ;)
The HBD changes are really cool. They are clearly made with the intent of proliferating HBD and making it have a larger pool of circulating tokens.
This is great for CUB because CUB is aiming to vortex in as many of those tokens as possible. To become the most liquid market for HBD & HIVE, we need CUB's protocol to get its hands on as much HBD/HIVE as possible.
This all starts with initial liquidity and grows through escape velocity. We're seeing this take place as CUB is being burned on a daily basis (more on this in the burn section below).
Get ready for a wonderous October... I think the burns are about to take off into the F*cking stratosphere!
Follow along as I report daily on @cubdaily 🙏🏽
CUB Token
- Price: $0.02412
- Total CUB Supply: 17,918,448
- Total CUB Burned: 1,078,468
- Total Market Cap: $431,478
- Total Value Locked: $1,409,082.06
Multi-Token Bridge Stats
- bHBD-bHIVE: $108k
- bHBD-BUSD: $260k
- bHBD-CUB: $125k
- bHIVE-CUB: $131k
- Total: $624k
CUB Burns
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I checked the DAO contract and it seems like funds are entering it on a daily basis but the contract hasn't caught up to the current price of CUB yet.
This means that the DAO is preparing for some serious burn action but it hasn't started buying CUB at the high price. It's still waiting for a baseline to be established.
The team has mentioned that this works on a Simple Daily Moving Average of the CUB Price. Assuming this is working as intended, I expect the DAO to start buying heavily after ~2 weeks of this price action.
Further Reading:
- Latest Reports From this Account: @cubdaily
- Latest CUB Burn Report From the LeoTeam: https://leofinance.io/@leofinance/cub-monthly-burn-report-or-september-2022-317k-cub-bought-and-burned-45-yield-on-hbd-and-hive
About CubDaily
I'll be using this account to report on the CUB stats each and every morning. Together we'll track the growth of CUB under the completely revamped ecosystem that LeoTeam has built called the Multi-Token Bridge.
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Oooooooo so that is how the burning works. I guess it makes sense so the dao doesnt just randomly buy at an unexpectedly high price. But 2 weeks maaan thats not instant rich mode enough hahaha jk.
At least now I have a rough timeline and pace to work to.