Update for SPinvest's CUBfinance wallets

Hello SPIers. Today we look briefly at our CUBfinance holdings, what they are earning, what we are doing with those earnings and how CUBfinance is being used by us.

CUBfinance was launched around 4 months back and it introduced a lot of people to crypto farming. CUBfinance is not decentralized even if we call it defi, it's more cefi. I understand everyone likes things to be decentralized but sometimes centralized things work better because they have experienced and educated people running them instead of a bunch of inexperienced uneducated people casting votes on what is most profitable to them in the short term. Why does LeoFinance as a tribe outperform other tribes? why is Binance to most used exchange in the world and not a decentralized one? What about metamask?

CUBfinance is centralized and most of the crypto world will see that as a bad thing but we are pretty much guaranteed no rug pull, we know things on the farm will be updated and that new features will be added as time moves on. This might not exactly translate into the price of the CUB token increasing but it will slow down its decline. In general, holding a farming token for any extended amount of time will leave your wallet lighter so harvest/convert seems to be the best play. I could be wrong as CUB is unique because of its community but this has been the most profitable way to make money from farming for the past year since farming started to really take off on ETH last summer.

SPinvest's wallet

When first launched, we went in with 5 ETH and used all our harvests to buy into the CUB/BNB LP which at one point was valued at over $5000. We also put around $1000-1500 of harvests into the bLEO/BNB LP and added 800 CUB to the den. For the first 2 months, everything was harvested and turned into a farm LP token and staked, mostly CUB/BNB because of the APY.

Anyways, the price of CUB started to drop off a little and I thought it was a good time to move some funds around. For those that can remember, the CUB token traded at over $12 for a few hours the day after launch and dropped quickly to around $6 and then has steadily declined since. This is standard for a farming token. When the CUB price hit around $1.50, I pulled the CUB/BNB LP and converted the lot to ETH. We were able to add just over 1.3 ETH on top of the 5 ETH we started with. 25% more ETH in 9-10 weeks is decent, we'll take it and add it to the pile. Higher profits could have been got but we did ok.

As it stands, SPinvest holds 7.66 ETH, a $500 LP and 800 CUB. Harvests collected are converted to either ETH are used to top up the stable token LP, whichever looks best on the day to be honest.

SPinvest-leo wallet

SPinvest has 2 BSC wallets, one ran by SSUK and the other ran by JK6276 for the LEO account. This account was doing little action until around 4-5 weeks back when JK decided to move 10k LEO over to CUBfinance to create a huge LP token. The harvests are converted back to LEO with 50% going towards the weekly SPI dividend and the other 50% being powered up to the LEOfinance wallet to recoup our 10k LEO investment. When that 10k is added back, our LP becomes a freeroll. For the past 2-3 weeks, it's been earning us 500-800 LEO per week so works a treat.

Harvests from the CUB/BNB LP are reinvested back into the CUB/BNB LP. You can see we're already up over 1000 LEO from we started. The BNB was funded by SPinvest from the unstaking of a wBTC/ETH LP we had on uniswap. So bLEO LP harvests are converted to LEO and added to SPinvest earnings and CUB LP harvests are reinvested.

Future plans?

Not sure to be honest, im hearing a few things about a MATIC clone but I've not seen a post are an announcement about it, maybe I missed it. MATIC is cheap but that's all I really know about it, im personally farming on 1 farm on MATIC, looks to be the same clone set up as any other chain. Time will time what sort of reputation the chain gets. In farming, ETH is the safest, TRX is a scammer chain and BSC is somewhere in the middle from my POV. Weirdly enough transaction fees go from ETH, BSC to TRX in cost and MATIC is cheaper so... If CUBfinance releases a MATIC clone, im sure there will be plenty of time, a month at least from the official announcement to launch, plenty of time to prepare.

For now, we continue to do what we are doing. If a MATIC clone comes, we move our ETH to the MATIC chain and basically repeat what we did on BSC expect better. There you have it, a short rundown of SPinvest's CUB journey to date. I hope you better understand what our holding our now and you've enjoyed this post.

Posted Using LeoFinance ^Beta