TALKING ABOUT CUB FINANCE LIKE I KNOW WHAT I AM TALKING ABOUT

THE ANNOUNCEMENT

* Two hours after the Cub finance announcement post went up, i took the Url and entered my trust wallet to see what it looks like. Though i did not understand all that i saw on the options especially on the farming side of things, i liked what i saw. The page has something that most DeFi project lacks; a face. There is, what i suppose to be a live twitter feed giving updates on what is going on in the community and i think that is cool. What most DeFi applications lack is a transparent interaction with the team. Thanks to the blogging platform Leofinance has and the community it has built over the years, the team can be easily reached and they can be held accountable.

Another thing i found interesting about the Cub Finance application was the bridge being set up linking the Etherum chain to the Binance chain. In this system, the user does not have to go through the hassle of swapping Leo for Etherum through traditional channels like the Binance trading platform in order to carry out a trade on an Etherum supported platform or even to stake or farm an erc20 coin. Cub Finance has an inbuilt system of transference which enables a user to swap a Bep20 coin like bleo for example for an erc20 coin like wleo. The processes involved is made possible through the presence of a Bep20 supported Leo token and an erc20 supported Leo token. They serve as the two ends of the conduit through which swapping across separate chains can happen with hassle.

* The major issue that most DeFi applications and projects face is liquidity. In recent times, certain projects have gone about solving that problem by locking a certain amount of the coin as liquidity. Pig token and Fegtoken are examples of such applications. Locking the liquidity implies that the team behind the project cannot play a fast one on the users of the coin. It means that no matter how large the transaction, the application will be able to carry it. Some other projects like Swaprol for example left the provision of liquidity pools to hodlers of the coin. It is now left to the community to determine how invested they are in the project to see it survive.

Those two forms of solving the liquidity problem are quite unique because of another issue of the DeFi space. This is important, what i am about to say. Cub Finance is going to be a holiday compared to the projects you will come across if you dare to leave the comfort of your den. There is the rugpull phenomenon. This happens all the time. A project does an airdrop, then a presale. After several of the shitcoin has been exchanged for Bnb, the team which is mostly one man being an asshole, removes liquidity and disappears with Bnb meant to provide liquidity. Without liquidity, your coin is as good as useless. Cub Finance has liquidity already in place for its application and i believe it will increase as the airdrop is claimed and used and when the whales wade into the pool to do what they do best.
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A suggestion that i cannot overemphasize from my interaction with the DeFi space is for you to hold more than one wallet. In my own case, after my first wallet was hacked, i opened several wallets. This is possible using any of the popular wallets that supports Bep20 coins. Trust wallet is the best and safest as far as i am concerned. You can also use Metamask, Token Pocket and Safepal. They are equally suitable. I will focus on Trust wallet as i do not know much about the others. The Trust wallet is a multi-coin wallet. You can have an erc20 coin in it, a Bep20 coin in it as well as a trc20 coin in it. You can also open as many wallets as you want in it.
* If you plan to stick to Cub Finance only, then two wallets is fine; one wallet for your trading and the other for your profit. This is to prevent your investment from being hacked either through dust tokens or phishing links hidden behind supposed connect wallet buttons. You will often be asked to connect your wallet to a Dapp like Uniswap or Pancakeswap. This is if you intend to use them for trades.

If on the other hand, you decide to venture from Cub finance into an unknown territory, it is better you are safe than sorry. The wallet for your profit should never be used to trade, for airdrops or whatnot. The address, seed phrase, key should never see the light of day. Use the address only when you need to transfer profit from your trading wallet to your savings wallet. Know this and know peace. **

Remember that bnb is the governance token of the Binance smart chain but it is not the bnb you are used to. If you use the Binance platform to trade and you want to move some BSC coin like bleo for example to your Trust wallet or Metamask wallet, always make sure you select the Bep20 option in the form. If you do not, you will lose your coin. Note that transactions on the Binance smart chain are not free. It is cheaper than Etherum but you have to pay something for every swap, harvest, unlocking and approval that you will do. This will not be something you are used to, given that you have been living on an economy where almost all transactions are feeless.

* The DeFi space is quite interesting. There is so much money to be made for those who have trading experience, are patient and can bear the sometimes unbelievably fast dumps and amazing pumps that occur from day to day. This is a new frontier in the movement of blockchain technology into more exciting use cases. The farming option is a good way to be safely invested in the space. Staking is also another safe way of investing. You don’t do a thing. Just sit and watch the coins pile up. If you have a solid amount invested, your returns would be sweet enough to keep you going. Consider the multiplier effect of harvesting cub which last i checked was worth $3 and getting Leo rewards. For those who would be lucky enough to get bleo added to this, it will just be win-win all the way. Note that the price of the coins may drop after the airdrop because lots of folks will sell.

Some applications on the DeFi space have managed to include NFTs into their reward system. This is a novel idea and i think Splinterlands collaborating Cub Finance would be wonderful. Pushing Splinterlands’ card decks as NFTs can serve as rewards on the Cub Finance application. This will not only give users of other chain access to the Hive gaming economy through the dynamics of interoperability that Leo finance is determined to put into action but also encourage more collaboration between different projects on the hive chain.

For those who would love to experience the DeFi space to the max, i think the best option, at least this is what i will do, is to stake a portion of their Cub or bleo, keep some liquid in their wallet in case there is a need to buy into another coin that looks promising, farm some and maybe provide liquidity. My expectations are that the Cub airdropped will be of a ratio of which our staked Leo will be more than the Cub token we get. So let’s say if you have 361 Leo like me, you will probably get 36 cubs. I say this considering the price of cub vis-a-vis the price of Leo. I may be wrong as i do not know the criteria with which the team will use to dispense those Cub tokens. I merely speculate and i am quite poor at it.
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While we wait to be claimdropped our cub tokens, i suggest you take a look at your metamask wallet or download a trust wallet and begin your first steps towards understanding the DeFi space. I hope this brings something amazing into our lives. Even if it does not give us as much money as we hope, it will definitely broaden the scope of our knowledge about what is possible with chains and also bring about further amazing developments in blockchain use cases not just in the finance part of blockchain tech but also in the social interest part, the health part, the gaming applications part and so on. Any development that occurs now across the blockchain space is a test. Every developer is experimenting, amending, reconstructing ideas into these new forms of doing that we are seeing. I may not know how the blockchain works or the technology that makes it possible but i love innovative ideas especially if they are ideas that bring people together across different divides of our man made society. At the end, though we all seek to make profit, we also desire human connections. Therefore, as we launch into a new era of crypto exploration, may we not forget why we began the journey in the first place and what we have learnt so far.

* Note that i don't know what i am talking about. I am simply excited about what Cub Finance would bring and i needed to write something about it. As you go forward, ask those who are more knowledgeable about these things for every step you take. Don't expect a poet to teach you how to handle decentralised finance. Do your research and be safe out there.

Posted Using LeoFinance ^Beta