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

in LeoFinance17 days ago

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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Interesting times ahead and looking forward to the cub den going to kingdoms. When the multipliers are freed up, will some of it go to the cub-busd and cub-bnb farms as well?

Also, will autocompounding in farms require another balancer type protocol for autocompounding? 🤔

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Good question, I think it will for some "Kingdoms" but some will be single assets as $CAKE

I'm really hoping for a LionSwap on Polygon. I will ditch PolyZap in an instant. Crossing my fingers that CUB holders will get airdropped some sweet Lion tokens to stake in the Lion Kingdom on Polygon!

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That would be so cool. Would love to have an association with Polygon too. Fees are negligible!

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I was just thinking that, since Leofinance would be all over the place and would attract a lot of attention.

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I have some MATIC too and can not wait until it is incorporated into Cub Finance! I am with you!

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In the AMA today, this was confirmed to be happening soon!

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You should hire a SoMe which coild these updates now and then, sp you guys can focus on building :D

Promising times ahead and as I wrote in my last post, I believe these management fees are a game changer. As you said, people will earn less $CUB and more "other assets" in the long run, which will bring value to the $CUB token.

Very nice development. Waiting for that new very soon $CUB announcement.

I will be listening to the AMA today, See you there !

This is amazing guys! I am already loving how Kingdoms are performing for me. It makes sense to migrate all the existing farms and dens to Kingdoms. This along with the bridge can become a serious USP for Cub Finance.

In the future I would like to see multiple networks (and their respective LPs) like Matic, Eth etc added apart from BSC. If we manage to do this, then we can surely become one stop shop for DeFi. ✌️

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Cheers for the written update on Kingdoms.

You guys continue to build and I'll continue to accumulate :)

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Hope this will help CUB bounce backup. Cheers!!

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Sounds really good, looking forward to the migrations.

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Other than all the brilliant upgrades, that Matic bridge sounds really good as well!

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I am firmly in the accumulation group of thinking. Been staking and buying since day 1 with no thought of selling.

I can see the long term benifits of holding the cub token and want as many as possible when the money flows in and they get scarce. Its only been a couple of months and that is nothing in developing a new project.

Some people expect everything to work perfectly from the very start but that is not how the world works. It takes time effort and investment to make a project successful and those people who dump everything won't be there when it does happen.

Keep up the good work and love the new kingdoms. Can't wait for more.

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Any news about Project Blank? It's shocking that at the beginning of December 2020 you said it would be ready by the end of the month. Since then six months have elapsed and now you say it will be ready at the latest by September, that's three more months, which added to the previous six makes nine months in total. Could you please explain what are you doing that is taking so long or at least if you're going to create a new token as you planned when you started or you're implementing the noise.cash tips system as I've recently read?

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next time i look again closer to cub. At the moment i only farm a bit in den and busd/cub.

Never sold any cub :D

I love the announced changes. Making the necessary changes to ensure sustainability, protecting the cubs and expanding from the base (which makes it easy for loyal users, that don't need to adapt to another UI).

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This is the way, keep it up and this project will at some point get into the spotlight!

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Excellent all the developments you are doing, now tend to buy cake to try these new features of Kingdoms.

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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.

I was suspecting this moments before I got to read this. It's insanely cool for the long term! If LeoBridge connects to few more blockchains, cross-chain asset transfers at minimal fees is going to be a killer feature.

Is there a way to get LeoBridge for Hive-Engine too. Since Tx are free, folks could start using pegged assets on Hive-Engine as a superior version of Lighting Network. That would be really EPIC!

CUB Den becoming a Kingdom is my most wanted/anticipated feature. Glad to know you guys are working on it :)

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Hi @khaleelzaki

Will Leobridge eventually have a token like Maker for Maker DAO?
Will this be a token on it's own blockchain or an ERG/BEP token?

Thanks.

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If you have contacts that are whales and want to help narket Leo on Twitter than I beg anyone you know to vote on the proposal

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Thanks for the info.
I would like to suggest to joing forces with two games I think are going to be the mainstay in the next quarters, MOBOX and of course SPLINTERLANDS. If you can talk to their devs and set up an extra Liquidity Pool CUB/MBOX and CUB/DEC with some joint partnership to give good incentives (Both Splinterlands and Mobox games have enough token sinks included in their games) that would attract a) more capital and b) more people to it. And people are the best ambassadors ^_^

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Hey Leo Team,

Thanks for the great update and all the work you are doing, I feel project is moving along nicely.

The site is beautiful and working very well. As an early adopter I have certainly seen how the team calmly works through issues until they are resolved. I watched the techsupport channel in your discord and noticed with each new release the new issues arrive and how you work through them until they are solved. Great job.

I do think Cub is a young project working it's way to being a steady, solid, trustworthy project

I have one concern.. the line in your post about Marketing not being successful until you have something unique and that bothered me. 90% of marketing is about brand and name awareness. What happens is when you hear the name of a project 4-7 times the name becomes familiar to those who hear it.. It has a powerful mental impact, .. I love everything you are doing but please don't fall into the "We aren't ready for marketing" trap.

Again, congrats and thank you for all your work and a great platform.

Great things coming!

@whatsup

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Thanks for update and amazing service.
I'm using @leo.voter since a few days but I miss a few payouts. I got one yesterday but not today as well as on last Friday. @leo.bounties has an empty wallet currently.
Are able to look into this? Thank you very much.