Earn 62% APY on Your Liquid HIVE and HBD

over 2 years ago (Edited)

The LeoVerse has seen some interesting times lately. We've released so many developments on the technology front. It's time to focus on deploying capital and attention to those developments to grow the entire LeoVerse Web3 Economy.

Today's post will focus on CUB. CUB was our original venture into DeFi. We built so many cool features into CUB over the years since it originally went live in March 2021.

During the development phase of PolyCUB, we decided to utilize that opportunity to test and deploy a wide number of features which had the potential to be back-ported to CUB. The goal all along was to figure out how to drive sustainability through monthly revenue that creates large-scale buyback and burns.

200,000 CUB to be Burned This Month

We're on pace to burn 200k CUB this month. Prior to the launch of the Multi-Token Bridge - bHIVE and bHBD - we burned 518,952 CUB.

This is an insane number... nearly 50% as much CUB as was burned since inception is being burned in just the 1st month of the Multi-Token Bridge being live.

The CUB DAO contract just went live yesterday and has just started to buyback and burn CUB using revenue generated by the multi-token bridge. ICYMI, the MTB generated ~$11k in revenue for POLYCUB in the month of July.

the first two burns conducted by CUB DAO

Since this is the first month of MTB operation on CUB, we haven't yet caught up to that amount of revenue. That being said, we're quickly gaining momentum. There is already ~217,741 USD in multi-token bridge LPs on CUB and this figure grows by double-digit %s on almost a daily basis.

We believe that we've found a model for true sustainability in DeFi. It's not what any of us expected but it is almost so fundamental that it's surprising we didn't find a way to build this before: generate a surplus of revenue each month by operating a large-scale wrapping service for HIVE and HBD.

The unique opportunity that we have over any other DeFi platform is you, the Hive community. We have HBD now paying 20% APR on-chain which means that a lot of attention is being placed on acquiring HBD and earning yield on it in a way that was never done before. HIVE has always earned yield for staking and curating. bHIVE provides a way to passively earn yield on that HIVE by becoming an LP.

Growing the Multi-Token Bridge

With $217k in assets on the CUB MTB, we're burning over 200k CUB per month. What happens when that figure hits $420k? What happens when it hits $800k?

The PolyCUB MTB is over $500k and it's generating ~$11k per month in revenue. This is an incredible amount of revenue on a tiny amount of TVL. How are we achieving this?

Wrapping Fees (0.5% on each TX)
Oracle Staking (on-chain staking)
Arbitrage Revenue

Arb revenue is quickly making up a large % of the total revenue. It's pretty incredible and it's growing fast.

We need your help to continue to grow the bridge and - as they say - Make CUB Great Again.

The plan was always to continue our innovation of CUB simultaneous to POLYCUB and LeoFinance. The LeoVerse is a cohesive, Multi-Chain Web3 Economy.

In order to build sustainability, we must build bridge liquidity. By building out this bridge liquidity, we have the opportunity to burn hundreds of thousands of CUB per month and millions of CUB per year.

Bearish on CUB?

A lot of people turned bearish on CUB while growing impatient with the development progress. That's completely fine, we all need to do what makes sense for us in the moment.

What many should watch now are two key metrics:

Total Value Locked (TVL) in the Multi-Token Bridge: currently ~$217k
Amount of CUB Burned: as seen on the bottom of the homepage of https://cubdefi.com

When sentiment flips, it is likely to flip quite quickly. The LeoVerse has seen some incredible technology released in the past few months between PolyCUB DAO, CUB DAO, LeoThreads Microblogging and more... It's time to build in this bear market.

Provide Liquidity, Earn up to 62% APY!

bHBD-BUSD (StableCoin LP) is currently paying 26.75% APY ($137,491 Liquidity)
bHBD-CUB is currently paying 60.46% APY ($74,246 Liquidity)
bHIVE-CUB is currently paying 62.07% APY ($73,401 Liquidity)

We have so much room to grow. It's incredible to run projections of CUB burns when these numbers rise. It's been less than a month and we're already burning as much as 50% of all previously burned CUB. Insane 🤯

How to Provide Liquidity

Here's a quick tutorial on how to provide HIVE and HBD liquidity on BSC:

Wrap HIVE or HBD to bHIVE or bHBD using https://wleo.io (LeoBridge)
Provide Liquidity to one of the 3 pools by going to the https://cubdefi.com/farms page, clicking on one of the pools and then clicking "Get bHBD-CUB (or corresponding farm assets)" in the drop down
This will redirect you to Pancakeswap, where you can deposit the assets
Once deposited, return to https://cubdefi.com/farms and approve the farming contract
Once approved, deposit the LP tokens
🚀

Goals for The End of the Month

It's August 24th as we're writing this. Our goal by September 1st (exactly 1 week from today) is to reach:

$100k in bHIVE-CUB Liquidity
$100k in bHBD-CUB Liquidity
$175k in bHBD-BUSD Liquidity

These goals are super attainable and reaching them will put the CUB MTB at $375k in MTB TVL. This could burn over 300k CUB next month, which will double the amount of CUB burned since CUB launched in March 2021.

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 and share content on the blockchain while earning cryptocurrency rewards.

Our mission is to put Web3 in the palm of your hands.

Twitter: https://twitter.com/FinanceLeo
Discord: https://discord.gg/E4jePHe
Whitepaper: https://whitepaper.leofinance.io

Our Hive Applications

Join Web3: https://leofinance.io/
Microblog on Hive: https://leofinance.io/threads
LeoMobile (IOS): https://testflight.apple.com/join/cskYPK1a
LeoMobile (Android): https://play.google.com/store/apps/details?id=io.leofi.mobile
Delegate HIVE POWER: Earn 16% APR, Paid Daily. Currently @ 2.8M HP
Hivestats: https://hivestats.io
LeoDex: https://leodex.io
LeoFi: https://leofi.io
Polygon HBD (pHBD): https://wleo.io/hbd
Polygon HIVE (pHIVE): https://wleo.io/hive

Web3 & DeFi

Web3 is about more than social media. It encompasses a personal revolution in financial awareness and data ownership. We've merged the two with our Social Apps and our DeFi Apps:

CubFinance (BSC): https://cubdefi.com
PolyCUB (Polygon): https://polycub.com
Multi-Token Bridge (Bridge HIVE, HBD, LEO): https://wleo.io