Like the majority of users on Leo, I have been playing around with the new Cub Finance platform for the past 15 hours or so. Probably less than that because unlike some of you, I actually took the time to sleep last night.
I haven't even looked yet but I have a feeling the majority of posts on my feed this morning probably have to do with Cub Finance. If you have already read more posts about it than you can handle this morning, I totally understand. Just skip through this and give me a big juicy upvote. We will call it even!
In case you haven't figured it out yet, this is kind of a big deal. Last I read, they already had about 2 million dollars pumped into the platform. My guess is it is closer to 3 million by now.
Before we get to the interface, let's talk about the documentation. The team did a really great job with that. There are easy step by step instructions for pretty much every aspect of the platform. If you are kind of new to DeFi, this is definitely the place you want to be. I actually only have one issue with the documentation and I noticed others were struggling with it as well.
The contract address for CUB is 0x50d809c74e0b8e49e7b4c65bb3109abe3ff4c1c1
and
The contract address for BLEO is 0x6421531af54c7b14ea805719035ebf1e3661c44a
There is a section in the walkthrough where they tell you to copy and paste that into Meta Mask. The only problem is they give it to you in an image file, so you can't actually copy and paste the text. Instead you have to back out of the tutorial and go to a different section of the documentation. It is pretty minimal I know. If this is the biggest issue they have, they I think they are doing pretty well!
The interface is fairly simple to navigate (thanks in part to the great documentation). It is important to remember that you have to add liquidity before you can start staking in the farms. I am sure I am not the only one who got overly excited and assumed just because my Meta Mask was connected my funds were available.
I made the mistake of hitting the "accept contract" and then the "stake" button only to find that my balance was zero.
It wasn't until I first added liquidity that I was finally able to stake some tokens into one of the pools. I (like most people) started with the BLEO-BNB liquidity pool. It wasn't until this morning that I had about 2 CUBS built up that I moved some stake into the CUB-BNB liquidity pool.
So far, I think it is pretty cool in terms of DeFi. I will be the first to admit I don't have as much experience with DeFi as some others do. I will also admit I blew $45 in fees trying to get my BNB over to the correct chain ahead of time. What a nightmare!
If there were a noob badge, I would be first in line to get it!
I have noticed a couple of things that I wouldn't call negatives, but they have made me a little reflective about the whole thing...
The BNB fees feel a bit like you are being nickeled and dimed. I understand they need to collect the fees to keep things running and it is a far cry from what we would be paying if we were doing this on ETH. It really makes you think twice before you click that "harvest" button though. I started with .46 BNB and between what I have staked and the fees, I am pretty much out now. In addition to that, our CUBS haven't even been airdropped yet, so I now have nothing to stake when that happens.
Finally, my last thought has to do with the scale of the whole thing. It really feels like this is not going to be lucrative for you unless you are a big player with large coffers to throw into the game.
I have been reflecting on if it might have been better to take the 110 LEO I converted to BLEO and just bought LBI shares with that (or powered it up to curate). With the bags that the LBI project has to throw into CUB Finance I might see bigger gains just receiving dividends from that.
I could be totally wrong. Please let me know if I am. I felt like I was in a pretty good place for this DeFi thing with 110 BLEO and .46 BNB, but reading through the Discord server, I am starting to realize I am a very small player in a game that might be out of my league.
