Authored by @silverstackeruk
Hello, LBIer's and CLer's. Welcome to this weeks CUBLIFE (CL) token update. We are going to look at this week's CUB harvests, reinvestment and weekly dividend APY. This update post is released weekly, dividends are paid in LEO every Friday at 9 pm UTC and new CUBLIFE (CL) tokens are issued once per month every 21st.
What is CUBLIFE?
CUBLIFE (CL) in a nutshell is a hive-engine token dedicated to investing in CUBfinance that pays out weekly dividends in the form of LEO. All LEO/HIVE raised from monthly token issues is invested in CUBfinance. 50% of weekly harvests are converted to LEO and issued to CL token holders, 40% is reinvested back into the platform and 10% goes to LBI as an operators fee for maintaining and actively managing the wallet.
This week is pretty much the same as last week and everything is becoming more consistent as the prices of cryptos are going sideways. We earned a total of 1538 CUB this week and we reinvested in the HBD/BUSD farm. It's growing nicely and earning near 30% on stables is amazing.
The APY this week is the same as last week as well so there not much to update as far as that goes.
The total wallet value is down a little from last not to much. I have been adding to the HBD/BUSD farm for the past few weeks with harvest and im considering swapping out EMP holdings to put it in here as 305 on stables in a bear market sounds like the ticket to me. EMP's APY has been declining as has its token price and i think it's time to maybe take a small hit on div's to retain $ value.
We move on and continue to grow and build our holdings. The bear market is te best time to build. Dividends will be shipped out this evening folks, have a great weekend everyone.
This month's CL token issue
Every 21st of each month, new CL tokens are issued to those that have sent either HIVE or LEO to the @cublife before the end of the 20th. The month goes 21st-20th. If you send in funds on the 21st, you'll be waiting till next month. Conversions take place once per month on the 21st with new CL tokens being minted to the same value as the existing ones in circulation. There are 12 CL token issues per year.
You can transfer LEO/HIVE or HIVEp from hive-engine. If you send both LEO and HIVE, you will receive 2 token issues, 1 for each. You can confirm your funds have been received in the table below which are posted weekly and updated 2-3 times per week.