Hello, SPIer's. I dropped some news on Saturday's report about a possible plan to split the SPI token into 2 tokens and I had planned to write about that idea in more detail but Khal went and dropped an announcement post for pCUB. If im honest, I've started to cringe a little when I see a LeoFinance announcement post. OK ok, it was not an announcement post but an introduction and preparation for pCUB instead. The magic "airdrop" word was dropped in the title so im sure 90% of LeoFinance users will have at least heard about this already. It's nice to get the information but personally, I'd prefer to see a post that goes like...
Title
Launch date - 00/00/2021
End Post
Let's skip the foreplay, when is the event happening?
Forget that, it'll be delayed a few times. (Not a problem in real life 😅)
Maybe this time around, we'll only get 3-4 days notice once and it'll happen when it's supposed to. For CubFinance I booked the day off work to get myself and SPinvest off to good starts but it got delayed. Anyways, I think some SPI token holders will be looking to know what sort of plan we have for the launch of pCUB.
First off, farming on pCUB will be different to bCUB because of the reward structure. On bCUB, we harvest our CUB at any time and that's it. On pCUB, there will be a 50% tax on claiming harvests early before a certain time has passed. The 50% is returned to the xpCUB staking contract which will be paid out to people that stake pCUB in a den style contract I guess. To be able to claim 100% of your harvests, your waiting time could be from 1-2 weeks to 3-6 or even 12 months. Im personally not a fan of this because you have to decide to either harvest early and take the hit to sell pCUB when its price is high or wait and get 100% in weeks-months after the price has dropped 90%. We all remember CUB going to over $10 when first launched, it was still trading for over $5 a few weeks after launch and then, well we know what the price is today. I do not say that disappointed like I thought the price was going to go up are even stay stable, tis a farm token at the end of the day. It's not a dig either, farm tokens, in general, will go down in value as supply increases and demand decreases over time as APY's shrink. Khal's fighting an uphill struggle all the time against token inflation. He's doing better than most, to be honest, under other people CUB tokens would have gone to single cent digits already.
Anyways, I will not be farming on pCUB because I dont like the taxing model they plan. I've used this model before and the results for waiting to claim 100% were not good. Maybe the LEO community might have better results as it's a community. Not pissing on it, just saying it's better from my experience to just take the 50% hit. If it says the APY is 60%, just half it to 30% in your head and after a few weeks, it'll just seem normal to you and when you see 80%, your think 40% Anyways, not for me.
Kingdoms from the way I read it will be the same so it's likely that I'll swap over 6 ETH from the BSC to POLY chain and stake them there in a kingdom/den/vault, whatever they call it if the APY is better. That will be the bulk of our investment into pCUB. Im not much of a fan of buying farm tokens when we can get them for free. Also not a big fan of HODLing them either. Is nice to earn 100% but not so nice when the value of the asset drops 80-90%. If the early bird gets the worm, why do good things come to those that wait? Maybe sell early and buy back after waiting would be like having your cake and eating it too. If you have sold 1000 CUB when it was $5 and bought back in at 50 cents, you'd have 10 times more CUB. Pretty sure no farm/vault yielded such a return. pCUB will launch at $1 a pop, which would be a $10k airdrop. Less work, better results.
At the moment, SPinvest has close to 1300 CUB staked in the CUB kingdom and I might try and get that to 1500. My guess is the launch is still at least a few weeks away so this should be doable. Im on the fence about what to do with the airdrop as it's going to pay out over 60 days, I'll prob convert it every few days into BTC or ETH. Not a big fan of MATIC, it'll prob go up with the rest of the market but it has a TRX vibe about it for me and TRX makes me think of scams. As you can tell, im salty as fook and dont trust alot.
Yield farm models are amazing, there are not that many out there, to be honest, everyone just copies everyone else and tweaks it to customise it to their farm. It's like watching evolution in front of your eyes, each new farm a slightly better version of the last. Anyways, yield farms, in general, are modelled in a way to target mostly blue-collar workers looking to get rich quick, investors will HODL and HODL with the hope the farm token will moon someday and make them rich. Most farms will have built-in burning contracts which sounds super bullish and get audited to show they are legit. The problem is most people sell their harvests so burning tokens does not create any scarcity are real demand and an audited farm can rug pull.
From watching the space and being involved for maybe 18 months now, getting in early and converting those harvests into something else to take profits is the only way to win. I've watched tons of people get wrecked from farms in Telegram servers. They all do the same thing, convert their BNB/BTC/ETH into a farm token, diamond hand all their harvests, until the farm is dead or the APY's get too small. They might start out with 1000 farm tokens worth $5k, farm for 3-6 months and end up with 1500 farm tokens worth $750. The people that win are the ones that earn farm tokens from crypto they already own and convert the harvests to something else. As an example, stake your BTC/ETH and convert the harvests into more BTC/ETH or a stable token. This from my point of view is the best way to treat farms. Dont convert your BTC into a farm token, that's that equivalent to swapping the cow for magic beans.
I would honestly love to launch a defi farm for SPinvest but I dont see it as something that could be maintained properly in 5-10 hours per week. I would have so much fun with tokenomics and it would have to be stable token farming somehow where harvested tokens would be backed. Could be the first stable token farming token, ba-haha. No idea how that could be done but im sure it could be done, maybe a self burning tax on every transaction or something that would basically fund a rewards pool. If there is $100k in volume done within 24 hours and there's a 5% tax on transactions (you send 100, the receiver gets 95), the rewards pool for that day would be $5k as a simple example. It would be a fun project to build I think but after the launch, my interest would decline and we'd need someone else to maintain it as I try and hunt for the next thing.
At this point in the crypto market cycle, im not very interested to launch everything for SPinvest, the best time to set up anything is during the bear market when prices are low. Right now, I'm trying you to stay liquid so when it's go time, we're ready. Fingers crossed when it is all said and done, we'll have $250-300k in some stable tokens. Ready to be reinvested during the bear market, ready to used to build new projects (incomes), you can get alot of great coding work and website design done for a few grand when it's ETH/BNB/POLY blockchains. HIVE will follow fingers crossed.
Anyways, I've gone off point. Back to pCUB. We know that pCUB will never be rugged, it might get hacked but this is not in Khal's control. Im looking forward to the launch but at the end of the day, it's just another farm. If the only crypto farming you've ever done is on CUBfinance, then this pCUB launch is probably very exciting for you. If this is the 20-30th farm you've invested into on launch day, it's not so much fun and more of a chore to have to use chain bridges and convert crypto about.
Good news for everyone that's not as cynical as me and is really looking forward to getting involved. JK is managing around $20k of our fund currently on the BSC on CUBfinance and I assume he is more bullish than I am and he'll be more involved with it. He, 2 days ago pulled his CUB/BNB & CUB/BUSD LP's and converted the BNB and BUSD into CUB tokens when the price was at $0.48. He's holding close to 8000 CUB's in his wallet so that'll be a nice airdrop for that account. Im not sure what his plans are for launch, not had the chance to talk with him properly. Im sure whatever he plans, it'll be a sound plan.
So to wrap up, SPinvest well in total get almost 10,000 pCUB airdropped. Be happy that the bulk is going to JK's wallets and not mine. He'll use it im sure to keep our weekly SPI dividends flowing in. I plan to stake ETH on pCUB as I guess the APY will be higher and JK will make us a CUB whale cause I know he's boys with Khal and might have early access to "dont tell anyone" stuff. Probably not but maybe...hopefully for us but probably not.
I do that other post next week about the SPI token split idea. It'll be a 2000 worder for sure as it'll affect all SPI tokens holders if it goes through. Im a little shy to post all the details as I dont wanna post the blueprints to show how every HE fund token that pays out dividends can print free money to their token holders. Chances are they might not like it but it's pretty juicy. Any SPI token split would not come for a few more months, nothing until the bubble pops. Some say this bullrun will carry through to 2023 because of new institutional/fund/ETF money but alot of people say the same shit that people were saying back in 2017. Does anyone remember people saying the 2017 run would last until 2019 cause of institutional/fund/ETF money entering the market, this time it's different? I believe BTC still has 1-2 market cycles where its halving events dictate the market cycle. It's already getting longer from halving events to peak all-time high. BTC will prob be dethroned from the top spot before then and as its market cap becomes a smaller and smaller slice of the overall pie, its halving event could become just a small pump for BTC only, nothing else affected really. Nothing wrong with BTC sitting anywhere in the top 50 cryptos in 10-15 years time. It's a store of value so it'll never be the top market cap when everything is built out. As a comparison, the GOLD market is worth around $12-13 trillion. This is very small when compared to the real estate market of $320 trillion and whos to say that the deeds to your house or not on an NFT on some blockchain by then. BTC does not need to be the biggest player in town in 10-15 years, it could easily be worth over $1 million per coin and be sat at 23rd on the market cap ranks.
So, I was supposed to wrap up this post. Hope you have enjoyed it and found the information useful. Oh shit, I've rambled on for almost 2000 words. Have a great rest of your day.
