Shortsegments' DeFi News: Volume(1) Number(2).
Transcript Cubfinance Weekly AMA June 4th, 2021
First: Khaleel Kazi Summary of his Leofinance post 06/03/2021
This is his own brief summary of his announcement post on 06/03/21.
-Kingdomes soft launch Kingdoms done, bugs fixed, hard launch done with new UI today 06/04/21, new User Interface Update today 06/04/2021
-Autofarm is the new model for Cubfinance with large multipliers for Cub Dens and Cub Farms, and all non-Cub dens and Farms multipliers will be greatly decreased.
_Leobridge is a big driver of future volume and activity for Leofinance and Cubfinance. Currently the bridge connects EThereeum and Binance Smart Chain, but soon it will connect with Polygon or Matic blockchain and a new Leo token P-Leo or pLeo will be there.
-Project Blank, it isn’t a fork of something which exist, it isn’t s clone of a pre-existing way to reward content creators, it is also creating a new way to store and read content. It is a lot of work and in progress.
Second: Now to the AMA
Leobridege Traffic is “okay” volume currently, and no failed swaps lately, as bugs appear fixed.
Question: What currencies awill be added to Kingdoms next?
Migrating existing Farms and Dens is first priority.
Bitcoin, Ethereum valuts migrating to Kingdoms.
Then looking at others.
Question: What does khal think about Polygold on Polygon
Interesting model. If we could go back in time good move.
Khal then gave details of another project
New Project
New platform on Polygon will have a capped supply.
All Polygon tokens will be distributed up front to Cub holders and sister platform will be launched.
The rewards will not be based on inflation of native token, instead rewards will be like they are in Kingdom.
The new platform will be like that in terms of supply
The fee redistribution will work like that
The Cub Den and Cub pool owners iwill own the entire supply
Question: What changes are due for the Leobridge UI User Interface?
Khal answer Two things
A better swap display, within 1-2% of the actual value you will get
Better user experience, a display showing you step by step where your money is in the transaction
Question: Are you planning to add Egg token from goosefinance
No
GooseFinance tokenomics model isn’t sustainable
We are moving our Tokenomics Model from GoodFinance to AutoFarm Model
Khal Comment :Fee to Cub Staking Kingdom
Management Fees from Kingdom will pay a BNB Dividend to Cub Den stakers when Cub Den migrates to Kingdoms
Question: What is the timeline for migrating all the pools and dens
stages over 2-3 weeks
Question: Did you have any thoughts about limiting the supply of Cub?
The plan is to reduce the multipliers on all non-Cub dens and pools
The goal is to migrate the reward multipliers to Cub Den
This removes selling pressure
The majority of Cub rewards from non-Cub Dens and Pools is sold.
Question Rug Switch?
The TVL will go down slowly as Dens and Pools migrate
Question: What is happening with the increased Multipleir from total 140x to 146x
Yes
But the overall number of multiplier will decrease as we migrate Dens and Pools to Kingdoms
Question: Will this cause liquidity problems?
No
APR on those new Kingdom Cub Pools will still be high
Neal McSpadden Comment
People are freaking out about the low price of Cub. Neal feels that the low price will be a distant memory in the future when Cub price is much higher.
Kahl Comment
We are in a downtrend because the tokenomics model we followed is from GoodFinance and we are moving away from it, to the tokenomics of Autofarm and we think the price of Cub will trend upward.
Leo price long ago was less then a cent, and now 35x there. It will take time, but higher prices are coming.
Question: When Rune? When Polygon
Polygon first
Rune later, much later
Question: When Post Kingdom Marketing
not yet
focus is on migration
once we are done migrating, we will change the UI to more like Autofarm
the current tokenomic model is not sustainable and is our big priority.
Announcement
khal plans to host a conference on DeFi for a new Multi-investor group interested in DeFi, and this will be helpful.
Question: Will the Migration of each investors assets from the Cub finance Pools and Dens to the Cub Kingdoms New but Same name Pools Mand Dens be automatic or manual by the investors ?
manual
it will be easy
press minus button, remove your LP points
navugate to new Kingdom Den or Pool by the same name
click add
your done
Question: After Kingdoms whats next?
elipse staking
two more apps we are building for Leofy
leo-leasing
polygon platform
Question: When Cub Kingdom?
2-4 weeks
Question: Will both be active same time?
No
One will turn off, one will turn on
the new contract will auto compund your Cub automatically
Question: What is Project Blank?
- [ ] Twitter on the HIve blockchain
- [ ] The User Interface is done, but the backend is very difficult
A whole new way to create, store and reward content
Comment: Neal has wanted to have chat on discord on Hive for years, to record it and reward each other.
Question: The decentralized find for development is coming to Leo
Yes
Comment by listener Cake grows faster on Cuibfinance then PanCake Bunny
Question: I got extra Leo in a swap , what do I do with it?
send it to Leo.bounties
I appreciate that
over the last 3-4 weeks there has been only 1 failt transaction
before we had 12 per day
Add the folowing:
Comment by Khal
Automation of WLEO Geyser rewards every two weeks.
He use to do this reward by hand, now it is automated.
In general we are automating previously manual processes to free up time, so I can write more posts, and do other stuff.
Question: Whats the relation ship between ETH and price and WLEO price, and whats the relation ship between BLEO and BNB price
Khal: As the price of ETH goes up, so does WLEO
As the price of BNB goes up, so does BLEO
Leo price more determinalistic with broader crypto market
Question: Are there ore tweeks planned for the Leofinance User Interface
Khal *There is a dedicated Dev on Leofinance UI now and an update including bug fixes will be out next week.
After that there should be an update every 2 weeks
Comments: from Listener:
Move fast and break stuff
Khal:
In the past we kept stuff in beta and closed testing. What we started to do is limited testing, and now we go to live Beta because we find all the bugs quickly.
Comment Neal:
Users find errors faster then a team will because they sue every thing.
Next AMA
Next week June 11th same time: noon eastern time
Marketing on Twitter, engage, retweet, like…
Conference about Cub and DeFi in the next few weeks
Possibly have an onboarding team from Leo to help people at conference help people move USDC from Coinbase to Metamask to WLEO to BLEO and Cubfinance
Neal gave brief summary.
Khal:
We have more developers then before and more stuff happening then ever before
Question: Latest Certik Audit News on Kingdoms
Khal: It is in process
Certik: Soon
Khal: I am looking at other auditing firms, so maybe we get another Audit Firm to do one, while waiting*
I may release the internal audit
Next AMA
Next week June 11th same time: noon eastern time
Khal Thanks everybody
Neal Take Care, thanks every body.
End.
I hope I goot the important points, I paused it to write everything as it was happening.
Corrections or Questions in the Comments
Shortsegments is a writer focused on cryptocurrency, the blockchain, non-fungible digital tokens or NFTs, and decentralized finance.
Read more of shortsegments articles here: @shortsegments
