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CUBLIFE (CL) - Weekly report #30

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Authored by @silverstackeruk

Hello, LBIer's and CLer's. Welcome to this weeks CUBLIFE (CL) token update. We are going to look at this week's CUB harvests, reinvestment and weekly dividend APY. This update post is released weekly, dividends are paid in LEO every Friday at 9 pm UTC and new CUBLIFE (CL) tokens are issued once per month every 21st.

What is CUBLIFE?
CUBLIFE (CL) in a nutshell is a hive-engine token dedicated to investing in CUBfinance that pays out weekly dividends in the form of LEO. All LEO/HIVE raised from monthly token issues is invested in CUBfinance. 50% of weekly harvests are converted to LEO and issued to CL token holders, 40% is reinvested back into the platform and 10% goes to LBI as an operators fee for maintaining and actively managing the wallet.

  • Black = Farm

  • Grey = Kingdom

Harvests this week were pretty much the same as last week at around 500 CUB. This week is the first week that we are issuing staking rewards. So to give you an idea, 30% of CL tokens are staked and 70% are liquid. 30% staked is pretty good considering it's only been a week and im sure lots of token holders are not aware yet.

Ok so you can see total rewards that are converted to bLEO or 785 LEO. The number represents 60% of our harvests. We divide 785 by 6 to work out 10% for LBI, in this case it's 130.83 LEO. The remaining 5/6's work out to 654.16 LEO. We have 70% liquid holders for LEO rewards with equals 460 LEO. The remaining 193 LEO has been used to add to our CUB/BNB farm holdings. At today's price, 193 LEO get 60.23 CL tokens. And that's pretty much how it's done.

CL token weekly APY from launch

CL token weekly total holdings from launch

This month's CL token issue Every 21st of each month, new CL tokens are issued to those that have sent either HIVE or LEO to the @cublife before the end of the 20th. The month goes 21st-20th. If you send in funds on the 21st, you'll be waiting till next month. Conversions take place once per month on the 21st with new CL tokens being minted to the same value as the existing ones in circulation. There are 12 CL token issues per year.

You can transfer LEO/HIVE or HIVEp from hive-engine. If you send both LEO and HIVE, you will receive 2 token issues, 1 for each. You can confirm your funds have been received in the table below which are posted weekly and updated 2-3 times per week.

Leo

Hive

Roundup

The first week for staking has been good, we've locked up 30% of circulating tokens. Remember unstaking is 1 day in 1 transaction, the minimum I could set. The total fund value is down a little, a couple of percent and not so bad when we've been good run the past few weeks.

All in all, it's been a good week and I look forward to seeing how the dividends payouts work out this evening.

Have a great weekend everyone !!

Posted Using LeoFinance Beta