Introducing CubFinance V2 | Phase 1: bHBD, bHIVE Vaults Launched!

in LeoFinance21 days ago

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As promised in so many of our weekly AMA chats, CubFinance V2 is officially rolling out. CUB V2 includes a lot of the features you see on PolyCUB.

At the core of V2 - for both POLYCUB and CUB - is the Multi-Token Bridge. The bridge allows us to deploy wrapped derivitive assets to Polygon and now to BNB Smart Chain as well.

Phase 1 Rollout

The rollout of CubFinance V2 is lined up in 3 phases.

Phase 1 is the release of the Multi-Token Bridge and 3 new vaults:

  1. bHBD-BUSD (Stablecoin Vault)
  2. bHBD-CUB
  3. bHIVE-CUB

As of right now, you can wrap assets and LP on https://cubdefi.com/farms.

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Soft Launch No Longer Soft, We're All Hard Now

We're officially hard! We actually rolled out CUB V2 Phase 1 on Monday (~4 days ago). ICYMI (and you probably didn't) the HBD price mooned and this led to a massive exodus of Hive Users' liquid HIVE and HBD. This event of course doesn't coincide all that well with trying to get Hive users to wrap HIVE and HBD to BSC and provide liquidity.

So we soft-launched and stayed the course since we had all of the updates already in the queue to be rolled out on Monday.

Phase 2 and Beyond | Burning Disproportionate Amounts of CUB

Right now our focus is to get as many assets bridged to BSC as possible. The more assets that get bridged (HIVE and HBD) and providing liquidity in the 3 farm vaults, the higher the amount of CUB that will be burned on a monthly basis.

The MTB generates insane revenue through:

  1. Wrapping Fees
  2. Oracle Staking
  3. Internal Arbitrage

All of this revenue buys CUB and burns it each month.

In phase 2, the rollout of the CUB Governance UI, CUB DAO Contract, etc. will take place.

Phase 3 will feature the rollout of the CUB Variable Staking Contract. Which will look similar to vexPOLYCUB but allow users to define the time they lock their CUB.

Value Accrual and Burns

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Similar to PolyCUB, the MTB protocol generates revenue for CUB DAO in 3 main ways:

  1. Wrapping Fees
  2. Oracle Staking
  3. Internal Arbitrage

These 3 mechanisms already generate thousands of dollars per month for POLYCUB. Now they're live and in action on CUB.

As more assets get wrapped and provide liquidity on CubFinance, the amount of value accrued increases.

As that value accrual increases, more CUB gets burned each month.

At the current CUB prices, we're anticipating a disproportionate amount of CUB to get burned in the first 30-60 days of CUB V2. Potentially as high as 500k CUB if the price remains around $0.03.

This means that 1-2 months of the MTB being live could burn more CUB than we've burned since the beginning of CUB almost 18 months ago!

The future is exciting when you start diving into the potential of this MTB Revenue setup. It's just starting to take place on PolyCUB and CUB is now slowly accruing value and getting ready to buy/burn through the DAO contract!

New LeoBridge UI and MTB Update

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There is a brand new LeoBridge UI to coincide with the POLYCUB DAO and CUB DAO releasing pHIVE, bHIVE and pHBD, bHBD.

The UI makes it easy to find what blockchain and what asset you're wrapping/unwrapping.

How to Provide Liquidity to bHIVE, bHBD

Here's a quick and simple guide to providing bHIVE, bHBD liquidity. The Community has already written some great guides so check the links below if you want a more in-depth one.

1). Wrap HIVE or HBD to BSC by visiting https://wleo.io and selecting bHIVE or bHBD

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2). Enter the amount to wrap, your receiving address and then click "Transfer"

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3). Provide liquidity by hitting the "Get ___" button beneath the pool you want to provide liquidity with

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4). Add Liquidity on PancakeSwap

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5). Click "Enable" to Approve the Farm Contract

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6). Once Enabled, a Deposit Button Will Appear. Deposit your LP tokens to start farming CUB

🚀🚀🚀

Community Guides

A few of our awesome community members have already written guides about how to use the new V2 vaults and wrap HIVE and HBD to BNB Smart Chain!

Want to write about the future of CUB? Make a post talking about CUB and include "cub" in your Hive tags. Our Curators will be on the lookout to give out some juicy @leo.voter upvotes to anyone who reviews the new CUB V2 vaults, talks about the future of CUB, etc.

About LeoFinance

LeoFinance is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: LeoFinance.io allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.

Our mission is to put Web3 in the palm of your hands.

Twitter: https://twitter.com/FinanceLeo
Discord: https://discord.gg/E4jePHe
Whitepaper: https://whitepaper.leofinance.io

Our Hive Applications

Join Web3: https://leofinance.io/
LeoMobile (IOS): https://testflight.apple.com/join/cskYPK1a
LeoMobile (Android): https://play.google.com/store/apps/details?id=io.leofi.mobile
Delegate HIVE POWER: Earn 16% APR, Paid Daily. Currently @ 2.8M HP
Hivestats: https://hivestats.io
LeoDex: https://leodex.io
LeoFi: https://leofi.io
Polygon HBD (pHBD): https://wleo.io/hbd
Polygon HIVE (pHIVE): https://wleo.io/hive

Web3 & DeFi

Web3 is about more than social media. It encompasses a personal revolution in financial awareness and data ownership. We've merged the two with our Social Apps and our DeFi Apps:

CubFinance (BSC): https://cubdefi.com
PolyCUB (Polygon): https://polycub.com
Multi-Token Bridge (Bridge HIVE, HBD, LEO): https://wleo.io

Posted Using LeoFinance Beta

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Thank you for bring these great innovations to Cubfinance!
Every version is great and timely, as was this one.

Posted Using LeoFinance Beta

Thanks for the new cub vaults. Time to jump in now.
Also Thanks to the hardworking leofinance team for making cub and polycub great. We love you 😎.

Posted Using LeoFinance Beta

Doing our best to overpromise and overdeliver on soons and wens 🦁

Posted Using LeoFinance Beta

And this time it looks like the SOON was spelled only with 2 "o's"! Thanks

Posted Using LeoFinance Beta

This is a very interesting project.
For a newbie who’s not as familiar where would be a good starting place for me? Thank you

The team is just super amazing.

Posted Using LeoFinance Beta

It's indeed a juicy update. We're moving into a very crucial season in Leo DeFi's growth. The next bull run would make CUB investors smiling all the way.

Posted Using LeoFinance Beta

Your content has been voted as a part of Encouragement program. Keep up the good work!

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Delegate HP and earn more

It will be very interesting to watch the two mechanisms operating side by side.

We have Polycub, with the disinflation design versus Cubfinance's inflationary model. Polycub doesnt burn, instead using all revenues to purchase $POLYCUB on the open market and push it to the stakers.

On Cubfinance, the revenues are used to burn CUB.

Which one will work better in the end? We will see.

Posted Using LeoFinance Beta

Either way I'm putting eggs in both networks!

But yeah you're right it'll be interesting to see which system works out better. Good point

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Error.

Posted Using LeoFinance Beta

Will it be possible soon to swap assets between bsc and polygon directly on the site when the new system launches?

It would be really handy to have a mechanism for full cross chains swaps across multiple chains and any new sites that come in the future.

Posted Using LeoFinance Beta

Isn't that what the bridge does in a way?

Posted Using LeoFinance Beta

The sooninverse is already here... Just exciting that it's now.

CUB Finance was long overdue for an overhaul and I am glad to see a new strategy for it through burning mechanics and more value accruing pools. DeFi is hard during the bear market and getting things done during this period, should greatly provide when the market starts to go up. Good news on all dimensions and projects are continuing to grow in Leo Finance ecosystem.

Posted Using LeoFinance Beta

DeFi is still around and stronger than ever. Great to see new changes and advancement in the space. Binance and Hive have one powerful DeFi App.

Posted Using LeoFinance Beta

Nice! Might have to start adding to the stablecoin farms for a bit. But gotta get back to stacking status first, lol. One day, lol.

Amazing Stuff!

CUB Cross-chain project conquers BNB Chain once again 🦁

Posted Using LeoFinance Beta

Well delivered!!! The APR went down quite a bit in these vaults since the AMA. Well done team (I guess it means loee people added liquidity because of it right?) And thanks for working so hard on all this cool stuff.

Posted Using LeoFinance Beta

Thanks for the exciting update!

Looking forward to seeing where the burn mechanism puts CUB's equilibrium price.

Posted Using LeoFinance Beta

SO much info in here for #CUB.
I think #Cub will come back stronger.
By burning it will help to leverage the value to move up to double digit.

!BEER

Posted Using LeoFinance Beta


Hey @leofinance, here is a little bit of BEER from @pouchon for you. Enjoy it!

Do you want to win SOME BEER together with your friends and draw the BEERKING.

Thanks for sharing this tip, it was really nice and helpful

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This is so amazing and I’m very happy to see this rollout too, don’t stop the good work threads on it way

Posted Using LeoFinance Beta

Thanks for the update,👍👍

I can confirm that I am also hard

Posted Using LeoFinance Beta

Great addition and expansion of the BSC bridged assets

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