Wrapping LEO to bLEO | Data On bLEO Wrapped By Date And Accounts

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The brand new LEO project Cub Finance has been on a great start in the last few weeks. The project started as a simple farming app with a roadmap for adding new features, some of which are already live. The most anticipated, The Bridge between ETH and BSC is yet to come in the next days.

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Cub Finance offers a variety of farms where users can pool and earn CUB. One of them is the bLEO - BNB pool that offers quite nice APR on pooling bLEO.

Since Cub Finance leaves on the BSC network, for users to be able to pool LEO they need to wrapped it first. The LEO team has made a nice tool for that https://wleo.io/bsc where users can go and wrap their LEO to bLEO and transfer it on BSC.

What is happening in the background is that LEO is transferred to the bLEO account, this info is then used to transfer the same amount on the BSC network. By tracking the transfer to the @b-leo account we can see how the wrapping is doing.

Here we will be looking at:

  • Daily wrapped bLEO
  • Daily unwrapped bLEO
  • Cumulative wrapped bLEO
  • Top accounts that wrapped bLEO
  • Top accounts that unwrapped bLEO

The period that we will be looking at is March 8, to March 25, 2021. A total of 18 days.

Daily Wrapped bLEO

Here is the chart for the daily wrapped bLEO.

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Note: Sometimes transactions are failing, and the tokens move around more then once. Because of this the data might not be 100% accurate.

In the first two days there was a lot of bLEO wrapped. A 160k on the first day and 300k on the second day. In the last few days the amount has dropped but we can still see a 40k wrapped on March 25.

With the launch of Cub Finance, LEO holders have yet another way to earn with their LEO tokens. We can see that at first there is a lot of tokens moving around until some equilibrium is found. A total of 1M LEO was wrapped in the period. But there was unwrapping as well. Lets take a look at those numbers.

Daily Unwrapped bLEO

Here is the chart for the LEO unwrapped, meaning transferring it from BSC to HIVE.

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A lot smaller amount here but still there is some. The note for failed transactions and duplicate transfers stands here as well.

There was a large amounts unwrapping on the second day, but I think this is because of the failed transactions. Then some low amounts and interesting in the last few days we are seeing some larger amounts unwrapping. These transfers are most likely used for arbitraging opportunities, since LEO lives on ETH as well. A total of 440k bLEO was unwrapped in the period.

Cumulative Wrapped bLEO

When put together the numbers above we get the cumulative chart.

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Just above 600k LEO tokens are now wrapped on the BSC network. This is the value for March 25, 2021.

Overall we can see a constant increase in the amount of bLEO in the period, except for the last few days, where it seems that we have reached some top. As mentioned with LEO on ETH as WLEO and on BSC as bLEO, there is a lot of arbitrage opportunities now and those moves can influence the LEO allocations.

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This is the allocation of the LEO tokens as of Monday, March 22.
Not sure how will things go moving forward, but I expect more LEO to move to the BSC network in the next week or two, and then we might see some equilibrium reached.

Top Accounts That Wrapped bLEO

Who transferred the most of LEO to the BSC network? Here it is .

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The @swelker101 account is on the top with around 160k LEO wrapped. Although this account is in the top accounts that unwrapped, so there were most likely failed transactions and the overall number is lower.

@rollandthomas is on the second place, with around 100k LEO wrapped. @gerber on the third place (arbitrage? 😊)

Top Accounts That Unwrapped bLEO

Here is the chart for the accounts that unwrapped bLEO the most.

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The @swelker101 account on the top here as well. As already mentioned it is most likely failed transactions. @samotonakatoshi on the second place, also probably because of failed transactions.

Interesting the @null account is third, this is basically the burns that are made from the fees earned. Just above 60k LEO were burned in the period. Some other names on the list, but there is doubts these transfers are also because of failed transactions and not real unwrapping.


Overall a lot of tokens were moved to the BSC network in a short period of time (around 600k), and it is expected a bit more to move there, because of the higher APR at the moment. The CUB price has been volatile as it has been expected for a new project.
The good thing is that this option will push the APR for LEO all over the place. The smaller the amounts of WLEO on the Uniswap pool, the higher the earnings for the remaining LPs there. Also, as more accounts are unstaking LEO on the native chain, the higher the APR for the ones who still have staked LEO and are using it for curation.

All the best
@dalz

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39 comments
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BOOM1.jpg

toruk_washere_new3leo.jpg

Read how this all have started with Toruk

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Thanks alfa!
Always happy to see this under my posts :)

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As a "numbers guy," I really enjoy your analytical posts @dalz. This is what I was looking for:

"Just above 600k LEO tokens are now wrapped on the BSC network. This is the value for March 25, 2021."

I wonder how this compares to the same time frame, when WLEO V2 was launched? I know for my own $$s, investing into the BNB - BLEO liquidity pool was the first thing I did on that fateful Monday morning ...

Overall, looks like a great start to me. It will be very interesting, once the LeoBridge is in place to see how LEO moves around between its 3 different earning scenarios available today.

Cub Finance is off to an excellent start. HODLing, as always, I was heartened to see a ~ 50% jump in price this morning. I think we are only just getting started.

Thanks again for your efforts to put this together @dalz. Very informative.

Onward and upward! 🦁🚀

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Hi Dalz
I am going to start a contest called Dear Mr Musk, in which the contestants write the Twitter limit for one good reason to invest in Cubfinance featuring a picture of our cute Mascot?

Do you think you would be willing to be a sponsor, say one hundred Leo?

You could also be a judge!

I can ask a couple other Leo Whales to participate also.

I am thinking each Tweet should say:
1 of 10 good reasons to invest in Cubfinance,

and the contest could specify nit to attack Doge, instead promote Leo.

What do you think?

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Hey thanks for the reply.
I was thinking about your initiative and its great to have communities root initiative, but I find it a bit a longshot to go for Musk :) Sure if it succeed it will be amazing, but the overall odds are small.
I will be happy to support something I find more achievable.

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(Edited)

Hi @dalz

I am sorry you feel this way.
I respect your work, so it’s disappointing, that you think it’s a waste of time.
But your being honest, so I respect that.

@shortsegments

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Hey, I'm glad you appreciate what I do... I respect your activity as well ... also I didnt say its a complete waste of time, just a low possibility for success.

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I have a question on BSC. I am trying to transfer dai from bsc to Metamask. I get through all the steps until the last one to okay the fee, which is 3.42 usd, in BNB, and I have $400 plus BNB, but it says I insufficient funds and that I need to go to my Metamask wallet and complete the transfer. Neither of these issues make sense. Because I have enough BNB and I am transferring from BSC to Metamask, soi5s not possible to go to Metamask to complete the transfer. Am I doing something wrong?

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Nice, good to see me and my two good (non-crypto) friends are making it happen in the wrapped to bLeo chart.

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Making waves :)

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Interesting statistics 📈 and numbers !

How do you access them? They are publicly available on the blockchain I guess. I just do not know how to get / see them 😆

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Just send LEO to my Metamask address in BSC. How much time does it take to wrap? On Leodex I see that I only have three tokens (I sent five) but in my Metamask wallet. I add the additional token with contract but stilll zero...

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it goes fast.
check again are you doing it right ... or ask in discord

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Damn! So much of wealth in this Data. 😂 Makes me want to feel like a whale someday. Playing big crypto games!

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bLeo is where it's at! Love seeing the burns of LEO each day and honestly looking forward to the end of month report LeoFinance does which will include the burns from CUB this time around. Should be some decently big changes. I feel like CUB is going to dwarf the ad revenue.

I'm not sure if one of the charts read this perhaps I'm looking at it wrong or just tired after a long day.
Is there a way to see how much bLEO is in a pool I would imagine unless more is being wrapped that the bLEO pool should increase in value because of the burn that happens from LeoFinance in where they buy the bLEO unwrap it and burn it?

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very interesting data...even if I feel very small when I see these graphs since I have few leo and few Cub but the project Cubfinance I like very much and even if slowly I will grow up :)
!BEER

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Still too much staked if we want Leo Bridge to succeed as it scales up, most likely. Thanks for the stats!

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That's a lot of LEO moving. I've been slow with moving my LEO because of1 LEO fee I've got to pay every time. It doesn't make much sense for me to transfer small amounts. I wish there was an easy way to make the transfer at cheap fees.

Thanks for the insights as always :)

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That's so amazing and interesting, do you have a Twitter I can follow? :D

Hope you have a nice day, best regards @bigdick

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