The LeoTeam released this tweet just in time for the daily CUB report:

CUB DAO has officially burned over 300k CUB since the launch of the HIVE and HBD Multi-Token Bridge (MTB).

In case you didn't know, the total amount of CUB burned prior to the launch of the bridge last month was 500k CUB.

This tweet shows that CUB DAO burned 28k CUB today and this pushed us beyond 800k CUB burned since the launch of CubFinance in March 2021.

That's nearly 60% as much CUB burned in the past 6 weeks than was burned in the prior 18 months of CUB being live in the world.

Multi-Token Bridge STRONK!

I can't wait for the day when we can report the Burn amounts being over 1M total CUB burned... How long until the CUB price starts to skyrocket thanks to all of this buy and burn activity?

Follow along as I report daily on @cubdaily 🙏🏽

Focus of the Day

We're always focused on MTB liquidity but let's focus today on circular arbitrage.

HBD pumped to $1.10 this morning and that led to a lot of activity on CUB's Multi-Token Bridge. I haven't added up the revenue to see just how much the bridge collected, but I can bet that it's pretty massive.

CUB has a really cool setup with the 4 MTB vaults:

1. bHBD-bHIVE
2. bHBD-BUSD
3. bHBD-CUB
4. bHIVE-CUB

With all 4 of these vaults, we see a lot of circular arbitrage. As HBD pumped, it caused bHIVE and CUB to pump along with it.

This caused arbitrage opportunities to pop up all over CUB Finance. I noticed many bots and users who took advantage of this and cleared up thousands of dollars worth of arb profits.

This also drove massive volume - to the tune of $100k+ in 24hr trading volume - on all CUB-based assets (bHIVE, bHBD, CUB).

Amazing to see this happen and a great day for bridge revenue. We'll have to wait until LeoTeam's monthly burn report to see just how much revenue we were able to gather.

CUB Token

• Price: $0.02139
• Total CUB Supply: 17,327,300
• Total CUB Burned: 805,382
• Total Market Cap: $371,115

Data Sourced On-Chain

Multi-Token Bridge Stats

• bHBD-bHIVE: $59k
• bHBD-BUSD: $154k
• bHBD-CUB: $88k
• bHIVE-CUB: $105k
• Total: $402k

Data Sourced On CubFinance

CUB Burns

For some reason, I'm still struggling to load the burn chart. Regardless, we can see the balance of CUB rising in the dead address. It's now 805k. In yesterday's report, it was 777k.

Amazing to watch this tick up, I hope bscscan's API starts working again so I can see the chart. The upward marks are likely super motivating!

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