$247K TVL is Left in CUB and PolyCUB Providing Free Liquidity
I invested a great deal of my portfolio into $CUB and $POLYCUB and I must have lost over $60,000 on these trades. I went all in on both these Tokens and staked them for the longest time possible. It turned out to be the biggest investment loss in my life. Despite all these things, I managed to stay in good spirit. I had built enough resilience since 2017 to the point that I could experience the biggest investment in my portfolio crash and still be okay and sleep well.
Having seen how mentally unstable some people get over smaller losses (percentage wise), I could even call the entire experience an alternative education with the price tag of a college degree. There is no point worrying about the past and I will move forward as a better investor. LeoDEX has already accomplished far more than CubFinance and PolyCUB combined. It is the foundations of those past failures that gave birth to LeoDEX. There are even more positive things that came from those "failures".
Abandoned Liquidity on Binance Smart Chain and Polygon
@leofinance moved everything under LEO umbrella to $LEO and the two projects are more of less abandoned. There $247,291.88 combined liquidty and these create some amazing marketcap to TVL ratios. The only investors who are already locked in are the ones that staked in CUB Kingdom for the long term. I don't think there will be many who are incapable of following the instructions to get $LEO which is going to appreciate in value. The likely scenarios are,
- Investors who missed the announcement about conversion to $LEO.
- Investors with too small of an investment left after $CUB and $POLYCUB prices crashed.
- Those who unfortunately lost access to their wallets.
- Those who quit during hard times.
The Value Locked On CubFinance
I think the APY numbers are not accurate. There should not be any rewards given for providing liquidity or staking IIRC. There are probably some rewards to be gained from trading fees. Having some liquidity available on these popular blockchains is a great thing. LEO Bridges are ones of the best things to come out of the DeFi ventures LEO community had.
Presence in 4 EVM Chains
- wLEO
- bLEO
- bHIVE
- bHBD
- pLEO
- pHIVE
- pHBD
- pSPS
- aLEO
We have Ethereum, Binance Smart Chain, Polygon and Arbitrum covered so far. aLEO is what connect us to Maya Protocol (which then connect us to a great many more). The best success we have had is not on a blockchain we developed a DAPP for. Cryptosphere is full of open source collaborations. This is one of the greatest strengths we have over TradFi.
The Value Locked On PolyCUB
At least PolyCUB investors have been better at pulling out their liquidity. 4 of the Farms + 1 Kingdom have been drained. We may get the benefit of free liquidity in the case of other Farms/Kingdoms. xPOLYCUB and vexPOLYCUB are the most useless at the moment. These assets are not providing utility to anybody.
Were We Overpaying for Liquidity Providers?
This is a complicated situation. If the rewards are not good enough, those who come are the ones who either don't care about rewards or those who are speculating on the future price of rewards. Then we have all the lost access to wallets and people throwing away cryptocurrency. James Howells threw away a hard drive containing 7,500 Bitcoins in 2013 which could end up being worth more than a billion dollars during this bull market.
Due to smart contracts and DeFi, these inaccessible assets get to contribute to the decentralized ecosystems we are building. Even without rewards, there is a quarter million dollars worth assents locked up on blockchains. Stopping rewards or adding rewards will not make a big difference. It is unlikely these wallets will get active anytime soon. One could argue that we were unnecessarily paying rewards to this quarter million in assets.
- CubFinance Marketcap to TVL = 0.325596926
- PolyCUB Marketcap to TVL = 0.130141271
I Don't Buy LEO
I earned most of my $LEO and this will continue to be the case for foreseeable future. This is one of the best things about LEO and it drastically reduce the risk an investor is taking. The most consistent way to do this is by delegating to @leo.voter
@gadrian recently faced some trouble when using the delegation feature. If other front ends adopts a similar warning text, we could have far less messy situations with delegations in the future.
80% of My HIVE Power Goes to @leo.voter
I maintain the bear minimum HIVE Power I need for my daily activities and delegate the rest to earn various Tokes as passive income. $HIVE itself has a 3.26% APR at the moment of writing and I get the Tokens on top of the HIVE rewards.
Consistent APR Upto 18%
I may have to eventually take the rewards in the liquid form. There have been many cases where I missed out on good trades due to a lack of liquid funds. I have been missing out on LPUD for some time due to the same reason. I wish there was a more clear showcase of what each Tier is. These are small changes that will get improved over time.
Happy Trading! Happy Investing!
Posted Using InLeo Alpha
I was a little disappointed by CUB, for now I'll wait. Thanks for the updates
I was very disappointed by CUB. There is nothing I can do about that. I predicted the future wrong and so did the developers. We all collectively lost millions. As least a few good things came out of it such as the wrapped assets and the developers getting experienced with DeFi smart contracts. We have to move on and create something even better. I consider this to be similar to an entrepreneurial failure.
Thanks for your reply. I also had some losses with this project
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STOPYep, @vimukthi ...
... ditto for me. And I would not be surprised to learn for many others, if they chose to make that known ...
The ugliest aspect of that learning experience for me? Capturing transactional evidence of key players in the LEO community who said one thing and did another. Very specifically, selling out of CUB entirely and moving it over to polyCUB, to take advantage of the early multiplier mechanism. To then sell out again ...
Who provided this "exit liquidity?" As "loyal, good soldiers," we both know the answer ...
This is some of the worst things one can do in finance. What they did is lying. At least thanks blockchain we have some form of proof. Even without these people dumping on us, we may not have succeeded as much as we hoped. Even the projects such as https://www.olympusdao.finance that focused on Protocol Owned Liquidity fell from its heights. Even with $188,727,219 in their treasury, OHM is down 99.1% from its heights.
We have a better idea about the liars and we have a better understanding about DeFi. The best part is that due to the partnership with Maya Protocol, we are not alone in this. The two communities can help each other to evolve better.
What can I say? I know both are painful subjects... I was not as affected as others, but that taught me a lesson I will never forget... NEVER lock anything in crypto long term (longer than a few months, and that very reluctantly and in special cases). If forced to make a decision, sell. You can have a long term approach without being forced into it.
Regarding the interface with the warning for lowering the delegation amount... it's nice. That means it can be done, when there is an interest. However, it's only on the dashboard, with a delegation specifically to leo.voter. The wallet page of Inleo needs a lot of work.
I leaned many important lessons about taking profits during the previous market cycle. Buying low is only half of the strategy and becomes useless without the other half. I'm going to do a lot better in 2025 and beyond.
I felt in this scenario "Investors with too small of an investment left after $CUB and $POLYCUB prices crashed." I lost more than 2k$ in these projects. It's much less than yours but I can understand your pain.
Right now, there is just a few cents in my wallet and I really don't care about it.
Afterward, I don't get insight any project from this team anymore and sell every single $LEO from my delegation