CubFinance 2 Days Later: My Suggestions for Improved DeFi Experience

Things were very heated up when DeFi came to @leofinance. I only realized this after becoming able to transact back again on Binance Smart Chain after all of my trading came to a halt after the little BNB I had was not enough to create a transaction.

Coming From HIVE This Was A Major Frustration

I have been told by @hykss as the first person to complain about BSC fees. I knew the state of Uniswap fees. I have a very good idea about the differences in fees thanks to articles by people like @empoderat. But I firmly believe that knowing something is better than competiton is not a reason to stop wanting better things.

Take BTC fir an example. Using BTC is far easier and cheaper when you want to transfer money across borders. But within cryptosphere, Dash, a privacy coin or feeless coin like HIVE are far better ways to move your money (depending on your needs).

What I Manged To Get So Far

I didn't have any technical issue. Although I'm not a developer, I'm good with technology. What I had issues were with liquidity. It was not a great experience wanting to get involved in an amazing project only to find that you need massive amounts of funds get simply swap some BNB for yourself. I looked at so many places and it it turns out HIVE is rarely supported and even when it is supported, I have to send over 300 HIVE for the Swap.

After a long time I had to dust out my centralized exchange accounts and get involved and send myself some BNB out of the tiny scraps i had left in those exchanges.

Of Course I Had To Pay Transaction Fees and Withdrawal Fees

I am having a great time with my earnings. Where else can you get these massive APR while fully knowing that the project is just starting its journey to the Moon? It is a very rare opportunity and I am very thankful for that. The above screenshots were from yesterday. This is how things look right now:

CUB emission will be cut 1/3 of its current level in a little over 2 weeks. If you read https://docs.cubdefi.com or the offciial bog, you should know that. We will be down to triple digit APR very soon and I will be very happy if we could maintain that for at least a few months while ETFs and various other traditional investments struggle to reach double digits.

Feeless is Possible

@aggroed has done a released a great product that offer incredible functionality through utilizing the features of HIVE. We already have feeless DeFi on HIVE. It is something that I'm in love to see.

https://tribaldex.com/dieselpools/pools

The issue is we don't have strong incentives and tokenomics like CUB. HIVE is full of smart people and it shouldn't be impossible to create a strong DeFi ecosystem without fees on HIVE. This could even be an area @leofinance can focus on. I'm sure there is already budding interest in LEO and CUB thanks to our expansion into Binance Smart Chain.

On HIVE we should try to offer stake to trade DAPPs which can seriously increase the value of our stake.

Quick Solutions We Can Implement Now

It could have saved me so much time and even more inconvenience if there was a simple way I could send my HIVE, STEEM or LEO and get back BNB. We already have this for LEO at https://wleo.io/bsc What if we could send the LEO and get BNB instead of bLEO?

I was commenting my though on an CubFinance article by @shortsegments and I had a very satisfying reply after that. I don't know if and when @cardboard would create his version of Token Swap Exchange. What I do know is that it would make investing into CubFinance so much easier.

CUB Shouldn't Be Mere Competition

Binance Smart Chain is not even a proper decentralized chain. It is a rip off of Ethereum with better scalability and fees. That is all it took to create another behemoth in cryptocurrency space. They did something so much better than the competition and made it extremely easy to switch.

Many crypto users already had MetaMask and many BSC projects straight up took the code from Ethereum open source projects and made some changes. We have attention on CUB. It is time we use it to become a dominant player with features and ease of use others do not have.

Happy Investing!