This week is going to be massive for Cub and LeoFinance. We've got a wide range of updates, AMAs, interviews and more lined up all week.
In this post, we'll dive into some platform updates.
Reminder: the CUB airdrop took place on the Hive blockchain but CUB is ONLY utilized as a Binance Smart Chain (BEP20) token. There are only 7 days to claim your CUB airdrop on the BSC by wrapping it from Hive to BSC using https://wleo.io/cub.
This bridge will be closed in the next ~30 hours. If you haven't converted your HE CUB into BSC CUB, then please do so now. Once the bridge is closed, HE CUB will no longer be valid in any way, shape or form.
DEC Added to the Cub Farms
We've worked with the @splinterlands team to add DEC to the list of farms on Cub Finance. This is a great opportunity to cross-polinate our communities - gaming and finance - and continue our expansion of opportunities available to our users on the Binance Smart Chain.
In 48 hours, a DEC-BUSD farm will be added to Cub Finance. This pool will have a 5x multiplier on CUB rewards and a 4% deposit fee (an identical setup to BNB-BUSD, if you're looking for an easy comparison).
all deposit fees on Cub Finance farms & dens are sent to the Cub treasury which splits the funds and burns CUB and bLEO (80% CUB and 20% bLEO).
On launch day (2 days from now) there will be more details and guides available on how to wrap DEC into BEP20 DEC, pool it with BUSD and stake it in CUB Vaults.
Farms & Dens Update
Since the launch of Cub, a number of people have requested new farms/dens to get added. The issue with adding new farms and dens is that their multiplier has an impact on the other farms and dens that currently exist - meaning less rewards on other farms and dens.
We've decided to add a DEC pool because we believe it will add a great deal of value to the Splinterlands community and to the LeoFinance community by giving more exposure to Cub and bringing new users in who otherwise might not be familiar with LeoFinance and our suite of applications.
Instead of pulling away from all the existing farms & dens, there will be some minor changes to the underutilized farms & dens in order to add DEC without impacting the overall platform multipliers.
DEC will launch with a 5x multiplier on their farm. Our goal is to gather that 5x from other farms and dens that have less overall value to the platform.
You may have heard about some recent issues with CAKE / Pancake. Regardless of what the fallout of those issues will be, CAKE is the most underutilized farm / den on the platform and as it stands it is one of the most represented as well:
- CAKE-BUSD Farm ($166k total liquidity)
- CAKE-BNB Farm ($293k total liquidity)
- CAKE Den ($150k total liquidity)
To make room for DEC, we've decided to deprecate the CAKE Den and CAKE-BUSD pool. These are the two least utilized on the platform and we believe DEC brings more than enough value to the table to offset any potential TVL losses from CAKE.
48 Hour Notice
It's important to give users a headsup before a change like this is made. Namely because of deposit fees. It wouldn't be fun to deposit to the CAKE den and then 1 hour later have the DEN deprecated after paying a 4% deposit fee.
We will never unilaterally make a change to farms / dens without giving proper notice. We're also implementing a time lock smart contract to our ability to change farm / den multipliers which will force us to give notice. This has become a common practice on major farming platforms like Goose as it gives more security and peace of mind to users.
The exact changes will be:
- CAKE-BUSD farm removed
- CAKE-BNB farm multiplier reduced from 2x to 1x
- CAKE Den removed
- DOT Den multiplier reduced from 2x to 1x
Outside of these changes, there will be no impact on other farms or dens.
Will we add other farms & dens? It's very possible. Especially through collaboration with existing Binance Smart Chain applications. It's important to calculate the tradeoff of adding a new farm or den to the platform and make sure that the value brought in by the new vault is more than the potential value taken from somewhere else.
In this case, we're basically replacing CAKE with DEC (although there will still be 1 CAKE pool) and it is very likely that the Splinterlands community brings more value than the few hundred k in CAKE vaults.
LeoBridge
LeoBridge is an exciting feature that we're bringing to Cub Finance. This will serve as another source of continual burn revenue headed toward the Cub treasury. The fact that no other platform on BSC has something like this is what is truly exciting.
If you've been using Cub Finance for any level of farming, moving funds, etc. then you know it can be a pain to move funds into BSC from something like Ethereum.
LeoBridge is a cross-blockchain swap mechanism. At launch, you'll be able to swap ERC20s into BEP20s and vice versa using decentralized AMM pools. A 0.25% swap fee on every transfer is sent to the CUB treasury and burns CUB & LEO at a 50% / 50% split.
This is an exciting feature and one that operates in similar ways to projects like Thorchain who are building cross-chain liquidity pools (and cross-chain swaps) with blockchains like Bitcoin. LeoBridge will tap into mechanisms like this to offer more versatility when it comes to trading/utilizing crypto.
Cub Roadmap
We had a bunch of people show up for the BSCGemz AMA that we did on Monday. It was exciting to get exposure to another community and some of their questions gave a good glimpse into what the DeFi/BSC community is looking for in a project like Cub Finance.
The audit report is dropping soon and this will be an important stamp of approval that we get in the eyes of BSC users.
Other than this, the #1 question that came up was related to the Cub Roadmap. We have a lot of plans to adopt and build smart contracts that directly tie into Cub Finance (and LeoFinance) to bring new and exciting features to the Binance Smart Chain, Cub and our existing community.
The current Cub roadmap is very loosely defined which gives us plenty of flexibility to change things (i.e. changing the layered farming aspect by either removing it entirely or modifying the contract - more details soon).
With that said, we're going to add more details to the public version of the roadmap to discuss new features like LeoBridge and other smart contracts that we plan to migrate / build in the near future.
CUB is the base layer of the DeFi stack that we're building and it's important to share our vision of what kind of contracts we plan to adopt, modify and build to bring continual value to the Cub / LEO ecosystem.
This week, we'll start testing LeoBridge and also introduce the timelock smart contracts for added security and user peace of mind on Cub vaults. After that, we'll continue to add new protocols to LeoBridge and simultaneously adopt new smart contracts to Cub. Like many things in LeoFinance, after a few weeks/months of development, Cub will be almost unrecognizable in the best ways possible.