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.
- Black = Farm
- Grey = Kingdom
Finally, we harvested more than 400 CUB for the first time in a week. Sadly the price of CUB has dropped a few cents but thankfully LEO is up a few cents, Unfortunately, this means less LEO for the dividend pool. On the plus, they are worth more so that's the sorta week we are having. So a pretty standard week, somethings up and some things down.
The APY is pretty much the same as last week at 45%.
So the APY is dropping which is not really in our control but at least the price of the token is going up. Below is a weekly chart to show the total CUBLIFE portfolio value since launch.
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.
Leo
Hive
Roundup
Another great week, our CUB kingdoms are all up in value and our CUB farms are down a little. I never even really considered the cakepop IDO for CUBLIFE because not really our bag, to be honest. I've no interest in harvesting CAKE for this account. Everything is going as planned, we expect the APY to drop over time as more people stake funds to CUBfinance and new services/products are launched the daily CUB reward pool is spread thinner. We continue to harvest and invest into kingdoms and build a nice portfolio.
No saving this week
