CUB is growing like nobody's business. It's really insane to watch what is taking place right before our eyes. The Multi-Token Bridge just crossed $440k in TVL and it has no end in sight. The growth continues every single day.
On top of that, LeoTeam just released a UI update that gave us a few cool new features and shows the renewed focus on the Multi-Token Bridge and how it is planting roots across the whole platform. We'll focus on these changes in the Focus of the Day section in this report.
If you crunch the numbers, 4.7% of the total CUB supply has now been burned. The burns seem to have more than doubled in recent weeks and we're seeing a continuous rise in daily burn activity by the DAO.
If you check on the growth of MTB TVL along with how much the DAO has been buying and burning each day and extrapolate, I expect us to flip deflationary within the next 2 months.
DEFLATIONARY IN TWO MONTHS!
That's craziness.... CUB will literally be buying and burning more CUB than is distributed to LPs in 2 months.... What the F is going to happen then? Nobody knows but typically when a token flips deflationary, people start loading their bags. Will that happen with CUB?
It's anyone's guess at this point. I'm putting my money on yes.
IMO, the best course of action is to LP HIVE and HBD and earn as much CUB as you can. Take those CUB earnings and then compound them into the CUB-based LPs (bHBD-CUB and bHIVE-CUB). Doing this will maximize your ability to earn CUB in the future. Being that it's moving deflationary, CUB will get more and more scarce and the market cap is likely to rise alongside it.
As that happens, the APY in all the pools will increase and more MTB TVL will flow in. That will simply keep the pinwheel spinning and the whole platform growing.
It is up to us, the community, to help the LeoTeam and ensure that enough MTB assets get pooled on HIVE and HBD in order to make this happen. This is not going to be easy, but I like the trajectory that we're on.
Follow along as I report daily on 
Focus of the Day
New CUB UI Updates!
A few updates have been pushed to the CUB UI.
- The UI now displays True APY instead of APR
- The sidebar menu includes Wrap HBD and Wrap HIVE
- The Top of the Farms page shows "Multi-Token Bridge" with some explanation on how it works and why it exists
This shows us the renewed focus of the team on building out CUB. It's all about the Multi-Token Bridge. Can you blame them? The DAO is burning more than 15k CUB per day while the platform produces only 28k CUB per day. I expect us to flip deflationary within 1-2 months at the current pace of growth in Multi-Token Bridge Assets.
CUB Token
- Price: $0.0211
- Total CUB Supply: 17,388,644
- Total CUB Burned: 857,765
- Total Market Cap: $367,454
Multi-Token Bridge Stats
- bHBD-bHIVE: $61k
- bHBD-BUSD: $186k
- bHBD-CUB: $88k
- bHIVE-CUB: $105k
- Total: $440k
CUB Burns
If you run the numbers, we've now burned 4.7% of the total supply of CUB!
This leaves us with a current circulating supply of 17.4M and burned amount of 857k. The LeoTeam keeps saying that we'll cross 1M CUB burned by the end of this month, so get ready to see this % continually rise. It has risen exponentially since the launch of the Multi-Token Bridge last month.
Further Reading:
- Latest Reports From this Account:
- Latest CUB Burn Report From the LeoTeam: @leofinance/cub-s-first-monthly-burn-report-or-august-2022-204k-cub-bought-and-burned-50-yield-on-hbd
About CubDaily
I'll be using this account to report on the CUB stats each and every morning. Together we'll track the growth of CUB under the completely revamped ecosystem that LeoTeam has built called the Multi-Token Bridge.