Daily CUB Report | CUB is Nearly Deflationary!?!? Supply Metrics Over the Past Few Days
Do you want to see a crazy metric? Take a look at the past few @cubdaily reports. You'll notice something quite interesting when looking over the numbers for circulating supply of CUB. In today's report, the circulating supply of CUB is 17,392,014.
In the report from a few days ago, the supply was 17,388,644.
We all know that 28,000 CUB is created on a daily basis.
In 3 days, the supply was supposed to increase by 84,000 CUB but it only increased 3,370 CUB...
We're getting extremely close to deflationary my frens. CUB is starting to become one of the most attractive and underrated DeFi gems in the entire industry.
The multi-token bridge has completely changed my outlook on CUB. Seeing the supply dry up this quickly is extremely encouraging.
Keep in mind that in volatile crypto markets, CUB continues to get more and more attractive. Volatility = wrapping revenue and arbitrage revenue = more CUB getting burned per day.
There were a few days recently where over 35k CUB was burned... That is deflationary my friends! 28k CUB produced, 35k burned.
Now, we need to keep growing MTB liquidity and ensure that this trend continues... how long until we review the numbers and the CUB supply is actually decreasing? Soon, if I had to guess. At current rates I expected it to take 30-60 days... It's starting to look like it could be even sooner and happen in the coming weeks.
Follow along as I report daily on @cubdaily 🙏🏽
Focus of the Day
More CUB burned than produced.
A few days out of the past week, more CUB was bought and burned by the CUB DAO than produced via block rewards.
Keep in mind: 28k CUB produced on a daily basis = $584.08 in daily LP Rewards.
This means that the DAO simply needs to earn $584.09+ in order to buy and burn more CUB than the protocol creates to pay LPs on a daily basis.
How insane is that?
The goal: grow MTB liquidity. Right now we just hit $449k. This is more than a 20% increase over the past week.
Keep wrapping that HIVE and HBD and providing liquidity to bHBD and bHIVE!
CUB Token
- Price: $0.02085
- Total CUB Supply: 17,392,014
- Total CUB Burned: 918,200
- Total Market Cap: $363,410
Multi-Token Bridge Stats
- bHBD-bHIVE: $64k
- bHBD-BUSD: $193k
- bHBD-CUB: $90k
- bHIVE-CUB: $102k
- Total: $449k
CUB Burns
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You can see that the Dead address - Null - where you send tokens to burn them on the BSC blockchain continues to grow.
Last time we shared this metric, 4.7% of the total CUB supply was burned. Now you can see that 5.0147% of the total CUB supply is burned.
The amount of CUB that the Dead address holds continues to increase. As we see this % rise exponentially, we are very likely to see the CUB price turn around... and do it in a dramatic way!
Further Reading:
- Latest Reports From this Account: @cubdaily
- Latest CUB Burn Report From the LeoTeam: https://leofinance.io/@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.
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Interesting, thanks for the update!
I'm still here here, tending my CUBs.
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Yeah this is really cool. I didn’t realize this was part of the tokenomics. One of the better defi projects on bnb chain for sure. The more I find out about it the better I feel about cub
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