One of the first discussions surrounding paired liquidity was around impermanent loss and you can read quite alot of what it is and how it works over at 
Impermanent loss is not a straightforward algorithm or easy to dissect. In a nutshell you pair tokens and if and when they move your position alters. The impact effects your stake regardless if it goes up or down. If one token goes up the pool sells the increasing token and gives you more of the other so that you're always matched.
This can be quite challenging if both tokens go down in value, you will bleed cash and also reduces your ROI of the fees. I've found the best option that works for me is spread.
If you enter the pool at different price points trying to match the dips and highs you end up with what I think and I could he wrong a bit of an average across the market. This can be hard to achieve with newer tokens as they are less stable. But I've found the best pool on CUB for doing this is the bleo-BNB pool. Having multiple entry points has I believe shielded me from.the dips in the Leo market.
But what happens when one token moons and goes on a bull run but the other doesn't?
The added benefit of CUB finance and Leo is that there are constant burns occurring which puts upward pressure on the token. The market is still relatively small which is why ROIs are high and tokens price low. I know everyone wants a Lambo and wants it to moon but now is the time to buidl for that steady income.
What has occured is the price of BNB has increased. Don't get too excited thinking you get 100% of that increase when you remove liquidity, you won't. But you don't lose it completely unless everyone pulls out at the same time. Impermanent loss is called that because you don't experience it until you unstake and remove liquidity.
But with the slow increase in Leo and the bull run of BNB your BNB has increased and its profits selling off for bleo. So where you won't get 100% of the increase you get more bleo. As bleo increases it switches to BNB. So as both tokens rise in value your amount of both will grow.
It's not the same growth as if you were to HODL but the losses you experience you gain back in CUB. So is impermanent loss really occurring on CUB if you got in early?
As the project continues to grow with Kingdoms and Leo Bridge release this should put more buy pressure on bleo increasing it's value and causing a sell off in the liquidity pool for more BNB. If BNB continues to rise it will also provide you more Leo. So your entry point moves higher.
As now everything is worth more your yield is also increased and your rewards grow. If you've covered multiple entry points in the highs and lows it becomes more of a safety net.
Impermanent loss is more of a balancing act and can be a user gain if you plan and assess better. Remember that it isn't an important loss until you withdraw it from the pool.
What are your thoughts on impermanent loss and how has it impacted your staking? Has the increase in BNB value seen you gain or lose?
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