Another Gem coming from LeoFinance/Cub....#soon
Imagine you live in the biggest city you can think of. Now imagine that city is divided into two parts by a wide river running between them. Let's name the larger part of the city, say Ethland, and we'll name the other side BSCville. Now imagine there are only a few complicated ways for you to get from one side of the river to the other.
Now imagine you built a nice, clean, shiny new bridge between them that everyone can use. And imagine you could charge a tiny percentage (for arguments sake, let's say .25%) of the total value of whatever crosses that bridge in either direction. What do you think that bridge would be worth?
We're going to be finding out that answer in the next couple weeks or "#soon" as Khal likes to say.
To the user, it's as easy as entering an ERC20 input and a BEP20 output (or vice versa). On the backend:
ERC20 -> wLEO -> LEO -> bLEO -> BEP20
or
BEP20 -> bLEO -> LEO -> wLEO -> ERC20
A 0.25% swap fee will be collected on every trade and sent to the CUB / bLEO treasury where it will be split to burn both CUB and bLEO.
One of the most exciting things about this application is the awareness it will bring to Cub. One of the most fundamental steps to turning CUB into a successful DeFi platform in the long-run is adding new use cases and revenue-generating mechanisms that set CUB apart from other DeFi platforms.
In less than 14 days after launching, Cub Finance will already have the LeoBridge application added to it's suite. This will make CUB the most unique DeFi yield app of it's kind and we'll continue to add new contracts and applications to this base layer that we're just getting started with.
Most of us involved in the Cub cross-chain hybrid airdrop that Khal invented last week know how big of a pain in the ass it was to get ETH tokens converted into BSC tokens. If we just discovered that issue, you can bet a lot of money that there are literally thousands of others in the crypto world who are having the same problem.
Ever since Ethereum's fees started mooning more than their token, this problem has magnified. With BSC coming on the scene with their low fees, you can see how valuable getting money over there has been. All you really need to look at is the BNB price: from $38 on Jan 21st to a high of $348 a month later. People are tired of paying those high fees and have found an alternative.
But for every user who figured out how to do it, there are another five who decided it was too complicated and didn't want to risk it.
The market for this use-case on LeoBridge could be enormous. If people do discover how to use it, literally millions of dollars could flow through it daily with .25% going towards burning Cub and Leo.
I can't quite wrap my brain around what those numbers could actually be but they could easily dwarf the amount of Cub/Leo being burned now. Hugely bullish!
It obviously remains to be seen what sort of inroads LeoBridge can make into this "cross-chain" market but, it certainly is another feather in the cap of LeoFinance.
Posted Using LeoFinance Beta
