Kingdoms Soft Launch, New Tokenomics & New UI | CUB x LeoFinance AMA in 12 Hours

We started doing weekly AMAs each Friday at 12 PM (Noon) EST. In about 12 hours, we'll host our next AMA and share some news about all of the major Cub updates that are rolling out.

ICYMI: Last Week's AMA

LeoBridge

We recently launched LeoBridge. In the early days of LeoBridge, we need to maintain a swap cap to ensure everything is working smoothly.

After some major patches in the past 1-2 weeks, LeoBridge TXs are now operating smoothly. We've raised the swap cap accordingly. The only limitation now is on liquidity in the WLEO-ETH and bLEO-BNB liquidity pools on the Ethereum and Binance Smart Chain blockchains (respectively).

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This is one of the most exciting and ambitious projects we've taken on. It took quite a bit of planning and development to get it to where it is today and the majority of the work now lies in getting more liquidity in both liquidity pools and building awareness about the bridge.

We also have a major update around the corner for the LEO token economy's next expansion to a major blockchain. This expansion will bring a new version of wrapped LEO on a new chain and will also include an extension of the LeoBridge to handle BSC --> MATIC permissionless cross-chain swaps.

LeoBridge brings some important features to the LEO token. Namely, every single bridge TX = volume on both ends of the bridge.

i.e. when a $1,000 ERC20 -> BEP20 conversion takes place, $1,000 in trading volume happens on the WLEO-ETH pool and another $1,000 in trading volume happens on the bLEO-BNB pool. Then there are arbitrage bots who will even out the price impact of this cross-chain swap between bLEO and wLEO.

If and when LeoBridge gains traction, the wLEO, bLEO and pLEO pools will gain significant trading volume on a relatively low amount of total liquidity. This will create hefty LP fees that go to the liquidity providers and boost APR significantly.

LeoBridge is one of our more long-term projects. It doesn't come with all of the instant fame and it took a significant amount of resources to build. The end goal that we see is a LeoBridge that extends to all of the major blockchains and allows permissionless cross-chain swaps.

The LEO token economy will gain signifacnt value from trading volume which equates to LP fees which in turn drives more liquidity. @khaleelkazi wrote a post several months back about "Liquidity Black Hole Theory" in regards to Thorchain and the early days of wLEO. This theory applies heavily to LeoBridge and our vision for it. Read more here.

Kingdoms

Many of you know that we did a soft launch of the highly anticipated Kingdoms release for https://cubdefi.com. This release took the launch, re-launch, launch and re-launch of over a dozen smart contracts and countless UI tests and retests.

Given all of this effort, we still had to go back to the drawing board several times and when Kingdoms were finally "ready" for public testing, many more bugs were discovered. This led us to the soft launch and over the past few days we've worked out all of the kinks on the existing UI.

Kingdoms are now running smoothly on the old Cub UI. Our new Cub Kingdoms UI is launching likely before the next AMA in 12 hours.

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The Future of Cub

In tomorrow's major update we'll talk more about the future of Cub and where we're headed. Over the past several weeks since Cub's launch, it's become abundantly clear that the one-time deposit fee vault system that we built based on GooseDeFi is an unsustainable model.

With Cub, our plan is and has always been to build a long-term platform for the LeoFinance community to expand into DeFi on the Binance Smart Chain.

With this goal in mind, we knew that significant marketing would only be worthwhile if we had something unique, valuable and sustainable to offer to the broader BSC community.

Enter Kingdoms.

Kingdoms represent the migration of Cub Finance from "Goose-style farming" to "Autofarm-style farming". What this means is that Cub is becoming more of an autofarm-like platform that features:

  • Cross-platform farming
  • Higher APY
  • Collaborative vaults
  • Base asset autocompounding
  • Lower multipliers to non-CUB farms
  • Higher multiplier + fee redistribution to CUB den

We've launched Kingdoms with two vaults to start:

  • Single Asset CAKE
  • BNB-BUSD (PCSv2 LP)

The Future

Over the coming weeks, we'll be migrating all existing farms and dens (with the ironic exception of CUB-BNB and CUB-BUSD) into Kingdoms.

The CUB den will turn into a Kingdom of sorts. It will feature autocompounding and additional incentives (i.e. Kingdom fee revenue sharing).

If you dig into the Autofarm platform, then you'll know that Autofarm features extremely low multipliers and a wide variety of vault offerings on a number of BSC platforms.

Autofarm is able to still offer a high APY because the yield farming contracts are built to earn yield from the target platform as well as the AUTO token itself. With this in mind, the inflation on AUTO is extremely low and each vault has a low multiplier (0.15x in most cases).

We're migrating CUB into the same model. The majority of selling pressure on CUB is coming from large LPs in non-CUB pools. These LPs are able to pool assets like stablecoins, BTCB, etc. and earn large amounts of CUB from the vaults.

With Kingdoms, we'll be migrating to the Autofarm style of having very low multipliers on each Kingdom vault but maintain a high APY thanks to the underlying platform (i.e. the CAKE Kingdom earns 129% APY without factoring in any CUB rewards. Adding even a small multiplier results in 5-40% in additional APR which helps us attract liquidity from other platforms).

As the migration is finalized and we move the remaining farms/dens to Kingdoms, we'll free up a large % of the multipliers on non-CUB farms and dens.

Our plan is to move these multipliers straight to the single-asset CUB staking Den and add autocompounding features to the CUB den. This will drastically increase the incentive for staking and hodling CUB.

We've talked about this several times on the AMAs as well - the next major feature after Kingdoms will be CUB Staking Rewards. This will change the way that harvests of CUB occur as we adopt the smart contracts of Ellipsis (a fee on instantaneous harvests which get paid back to CUB Den stakers).

The long-term vision for the Single Asset CUB Staking Den is:

  • Higher Multiplier (from the multipliers we free up in the migration to Kingdoms)
  • Autocompounding
  • Kingdoms Revenue Share (% of the fees are autonomously sent and shared to users in the CUB Staking vault)
  • "Staking Feature" - tax on instantaneous harvests which get paid back to long-term CUB stakers (based on the Ellipsis model of tax on instant rewards payout and 3 month staking)

Many have called this downtrend in CUB a major accumulation phase. Others have grown impatient as we work hard behind the scenes to migrate CUB into an entirely new platform (from Goose -> Autofarm).

Only time will tell who's right. The diamond paws or the FUDsters. One thing that has changed for sure is the pace of development and the expansion of the whole LeoFinance dev team.

There are now more people working on the project than ever before. We're building and releasing more features/apps than ever before and while certain things have been put on the back burner temporarily (i.e. major blog updates), we're getting around to the most prosperous time for our LEO and CUB token economies.

In addition to all of these major Kingdoms and LeoBridge updates, we've also got a new DeFi app launching in the very near future which will have a direct impact on CUB hodlers. Announcements soon™️

 

 

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