Daily CUB Report | Over 1,000,000 CUB Has Been Burned! 🙀

We've done it! Over 1,000,000 CUB has been burned. The platform had 517k CUB burned at the start of August 2022. Then the Multi-Token Bridge brought us bHIVE and bHBD and since then, the revenue has been buying back and burning CUB.

This revenue has proven to be quite enormous. The amount of CUB getting burned on a daily basis is nearly as much CUB as is being created for block mining rewards. This means that we are on the verge of flippening to CUB being a deflationary asset - more CUB burned per month than mined via Liquidity Pools.

What effect will this have on the value of CUB and the Total-Value Locked in the Farms? Let's take a look in our Focus of the Day.

Focus of the Day

As the Multi-Token Bridge Total Value Locked grows, the amount of CUB getting bought and burned on a daily basis grows along with it.

Right now, we've seen constant (daily) growth in TVL on the Multi-Token Bridge farms. This much can be seen and tracked via our @cubdaily reports where I share the value of these farms every single day.

You can see over a $6k increase in MTB TVL since the last CUB DAILY report. This increase happened despite the value of HIVE dropping by nearly 10% over the weekend.

The Bridge liquidity keeps growing and if you track the burns (as we do at the bottom of these reports each day) then you'll see those increasing proportionately.

As the burns increase, the value of CUB will slowly start to rise. As the value rises, the APY rises. As the APY rises, the incentive to pool MTB (bHIVE and bHBD) assets increases.

This means that more MTB TVL will be driven into the platform.

This is a revolving door. The more we push TVL into it, the faster it accelerates and pulls more TVL back into itself. TVL keeps feeding and feeding and growing and growing. As it grows, the revenue grows. As the revenue grows, more CUB is bought and burned.

This is amazing to see. I think we are in for a massive expansion on CUB by the end of 2022. We're already nearly at $500k in MTB TVL... What happens when we hit $1M in MTB TVL?

CUB Token

• Price: $0.02092
• Total CUB Supply: 17,497,241
• Total CUB Burned: 1,029,256
• Total Market Cap: $365,759

Data Sourced On-Chain

Multi-Token Bridge Stats

• bHBD-bHIVE: $73k
• bHBD-BUSD: $212k
• bHBD-CUB: $94k
• bHIVE-CUB: $105k
• Total: $484k

The value of HIVE has dipped over the weekend but the TVL still grew from $478k to $484k since the last @cubdaily report.

This goes to show that the Multi-Token Bridge liquidity is constantly growing as new LPs enter the farms. Awesome to see!

Data Sourced On CubFinance

CUB Burns

I'm not sure if we could ask for a more perfect scenario. We're seeing tons of CUB get burnt on a daily basis.

Look at this chart and you'll also see something fantastic we breached 1,000,000 CUB Burned!

At the launch of the Multi-Token Bridge in August, we had burned 517k CUB. Since then - in just 8 weeks - we have burned over 500k CUB.

So in 18 months we burned 500k.

In the last 2 months we burned 500k.

And the burns are accelerating with no signs of slowing down... This is WILD to see.

Further Reading:

• Latest Reports From this Account: @cubdaily
• Latest CUB Burn Report From the LeoTeam: https://leofinance.io/@leofinance/cub-s-first-monthly-burn-report-or-august-2022-204k-cub-bought-and-burned-50-yield-on-hbd

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.

Posted Using LeoFinance ^Beta