Most of the time when you're wrong, it doesn't feel good. It can sting. After all, who wants to be wrong? Is that a goal in life? Do we strive to be wrong in our decisions, in our vision for the future that guides that steps we take in the present?
Or course not. But when it comes to investing in something, there are times when being wrong might even feel good, and it can even pay to be wrong. As long as you didn't act on the wrong conclusion.
The mooning of CUB is just such a case. I was recently talking about the sideways action of CUB at the $2 level. Was this the bottom? How long will it stay there? Will dumpers keep pushing the price lower? Etc. I thought we were in for a few weeks of sideways action until some new features came out to entice new blood to join Cub DeFi. If not new blood, then just more money from people waiting to invest into buying up CUB to get the price moving.
Well, it didn't take new features like the Leo Bridge, or lending or the upcoming Kingdoms. All it took was announcing some changes to the farming and dens. At least that's what I think did the trick ;)
As you may or may not know, Leo Finance made a post last night. The Cub DeFi site was updated, with a bit of a new look. Instead of purple text, they are now blue. A link to the bridge that I am working was added. When you go to the bridge, you only see "Coming soon". Eventually it will work, but for now it's a work in progress.
The biggest update to attract more people to staking in Cub DeFi was the change to the farms and dens. This seems to be what led to more buying of CUB. Early in the morning, CUB shot up $1, gaining 50% over the past 24 hours.
As the news of the change spread, some big players (I assume more than one) saw this as a great time to buy and dumped a lot of money into CUB which shot the price up very quickly.
Or, it was that the persistent $2 floor seemed like the actual bottom, and the only direction CUB was gong to go here on out was UP! Maybe it's a combination of both, but up it went fast! Unfortunately for me, I wasn't in the CUB den, so I lost a lot of CUB in the farms
Getting back to the positive changes that make CUB staking more appealing, some farms and dens are going inactive, and some are getting a boost. Here's what it looks like:
I think it's a smart move. The two most popular farms are the ones that give the highest APR, and they are farms that have CUB in them. If you want to incentivize people to buy CUB and hold CUB, then giving the CUB farms more APR is a good way to go about achieving that goal.
The CUB den is the only one going up by a whopping 50%! It only makes sense to reward the CUB staking dens with more APR, and this is the only one.
The only farms going up are also the CUB farms: CUB-BUSD and CUB-BNB. The former will go up 25% and the latter will go up another whopping 50% from in APR!
This is great. You get more CUB while promoting the use of CUB in the Cub DeFi system. Increasing the APR in other dens and farms would just mean more CUB while not incentivizing the staking of CUB within the system. That just keads to more CUB for people to dump.
In the end, I was wrong about CUB being stuck near $2 for the foreseeable short-term. It's good that I was, and my total worth in Cub DeFI went up quite a bit. I had no more money to throw at buying CUB at $2, which sucks a bit. But oh well, the long road ahead looks bright for CUB :) It pays to be wrong sometimes.
