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CUB DeFi - My experience converting and staking CUB

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scooter77
@scooter77
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So after seeing all the hullabaloo about the CUB token drop today I thought I'd better go and see what the fuss was all about.

After trawling through the official post: The First Ever Cross-Chain Hybrid Claimdrop | Completely Redesigned and CUB Drop is Now Live! to see what was needed, I got the gist pretty quickly.

Here is my experience claiming and staking my CUB tokens:

  1. Go to the new wrapping site that has been setup by the LeoFinance team: https://wleo.io/cub. Here you can enter your BSC Address. This is a really well thought out and updated site that is a one-stop shop for all things LEO.

  2. Next step is to enter the amount of CUB you want to transfer from Hive-Engine to your BSC account.

  3. Then enter your Hive-Engine username/account. You will then be prompted with the Keychain to authorise the transfer of your CUB tokens to your BSC account.

  4. Head over to https://cubdefi.com/ and connect your BSC wallet (I use Metamask) to the CubDeFi website.

  5. I decided to stake my CUB in the CUB Den for a currently high APR% and no need to worry about any impermanent loss. Go to the Dens page on the left and choose the CUB den. You have to approve the token contract which costs around 0.18c in BNB and then stake you CUB tokens (which also costs around 0.18c in BNB).

Already, after only a few minutes or so, I am farming CUB. The current CUB price sits at $3.591, down from a high of around $14 last night. I expect the CUB token to be pretty volatile early on, but will continue to appreciate in the long-term.

Note: the CUB bridge works one way and will close on March 17th. You must claim HE CUB as BEP20 CUB before this date. Afterwards, CUB on HE will be deprecated.

For some really easy guides to using metamask and accessing CubDefi and everything in between, check out the Documents Guide page for LeoFinance here: https://docs.cubdefi.com/

I found this process pretty simple and easy to perform. All you need to ensure is that you have some BNB in your BSC account for the transaction fees. I transferred over 0.05 BNB for fees which is around $14 of BNB. This will last me a long while for transaction fees in this space.

Give it a go and farm some free CUB! Best of luck to you.

Thanks for reading.

Posted Using LeoFinance Beta