Cub Defi New World for Me
Cub token has opened a new world for me. I have just started trading on the Hive engine and used Binance exchange only. When this wraps thing and pool Liquidity party started, I was very confused about all these new terms. So I never tried to jump into the Defi world but last day when I got 0.488 cub Token in my engine, I decided to give it a try. I am familiar with the Hive engine and very comfortable with the sale and purchase of tokens. The best thing is that Leofinace came up with an easy method of cub transfer and Liquidity. So the first thing I did was to add a new network on my Metamask wallet was Binance Smart chain(BSC). BSC, Binance new exchange for Defi projects.
Leofinance introduces a simple method to claim cub tokens, just enter the BSC address into the cub airdrop page and also provide a hive user name. After some time I got my token in Metamask wallet and connected this wallet with https://cubdefi.com.
On the Cubdefi website, cub token staking is free but still, you need some BnB to require for transactions. So I send 4$ worth of BNB on my BSC account but must select BEP20 when sending token. The transaction fee is very low but still on every click they deduct some BNB.
I have purchased some cub tokens from Hive Engine to test the sale and purchase process. The opening price of the cub on the Hive engine is very high like 1 cub token is equal to 20 hives (around 6,7$). I stake 1.49 cub and after one day I got .036 cub worth of .16$ or .72 Hive. If I compare other tokens' return like sim token, I stake 42K sim and I got .o38 Hive. So in my opinion cub token's start is very promising but let's see where will the price be stable after some days. I think Hive engine trading must continue as on hive cub token is performing well as many Hivers know the Leofinance brand. Right now, I am only using the staking section of cubdefi because I am still not familiar with the farming thing. Hope in near future I will use this function as well and also looking forward that other Hive Engine tokens will also be introduced on the Cubdefi website like Sports, List, Ctp, weed, rabona, Hustler, Dec, Spt, etc.
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https://twitter.com/FinanceLeo/status/1370408025614393350
It is a steep learning curve isn't it. For me it was the first time I got involved with defi and so far I am amazed with the returns.
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Yes, true
Sings: The farmer of the cub, the farmer of the cub. Hi ho, the bleo, the farmer of the cub.
I've never done farming or liquidity pools. Thank you for making it so easy and straightforward to get started.
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Welcome Sir..
interesting
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It was not easy.... but I’m happy I have a few Cub in the Den 10X ....
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Yes, great hope price increase to the moon.
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I will be happy if it goes to $7 and I break even on my investment.
I've noticed that it's cheaper to use CubFi to swap tokens from (say) BUSD to CUB (current price $5.74) vs $7.22 (20 HIVE @ $0.38 each) on LeoDex.
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Yes, agreed I also bought an expensive cub on Hive engine around 20 hive to 40 hive. If someone helps me how to buy cub with bnb from binance exchange.
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I bought BUSD on Binance and then transferred it to my Metamask wallet. Then connect my Metamask wallet into CubDefi and exchange BUSD for CUB there. I hope that helps, need to run ...
Thanks just join cub-busd pool
Great choice! Just be sure to watch if it moons, then might be good to get out because of impermanent loss.
Loss? if cub price increase?
EDIT: That was not clear. Basically if CUB goes up, each CUB is worth more. However because of how an LP works, you will end up having fewer CUB. But also keep in mind a farm currently earns about 3x what a Den does, so you're making much more with that. It's not at all clear to me (yet) what the relative value of each of them are. Hope that is a bit clearer than what I wrote originally. Also, it's complicated and I think none of us actually quite understand it.
Well, loss compared to if you weren't in the LP. But also the farming gains can outweigh that. Here's a recent article that seems about right.
I'm thinking of doing an article that tries again to simplify the maths with some simplified numbers.
Never think that I lose my token in this farming. How this LP work ? which token price effect other ? In den also lose cub ? - which lp is secure so I focus on it. If you write article on this tag me.
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Den doesn't have the problem with impermanent loss; you always will have at least the amount of asset you put into it. It's not that the LP is not secure; it's the nature of LPs that they are rebalanced.
Done 100% in den.
Like you I was skeptical about the liquidate pool but I took the risk and provided liquid and I can say I have gotten 50% of my investment in the last 3 days. It's insane!
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