[Action Required] If You Are Liquidity Provider in Cub Finance Farms (V1)


You probably saw posts from @leofinance announcing a migration from V1 to V2 for the farms on Cub Finance.

What I believe is that some may still not realize that YOUR ACTION IS REQUIRED, and the sooner the better for you.

This is NOT an automated migration from V1 to V2, you actually have to move your funds manually. Which is a very good thing, because YOU are in control of your funds.

By looking at the Finished tab of the Farms page, we can see this:

That's over 1.3m USD worth of liquidity at the time of the screenshot not earning any APR. That's because the APR is on V2 now, and this liquidity is on V1, their owners didn't make the switch yet.

Right now the situation on V2 is like this:

So, over 2.5m USD in liquidity moved to V2 so far. That's about 2/3.

By the way, when the migration started, APRs on V2 looked something like this for a short while:

Which means it pays to pay attention. And to have a plan.

But let's get back to the owners of the rest of 1/3 of liquidity which needs to migrate to V2.

The longer you stay with your liquidity in V1 without migrating it, these things will happen:

  • all features of Cub Finance (existing and new) are now on V2. You won't be able to use your V1 liquidity on Cub Finance anymore without migrating.
  • you will continue to earn zero APR on the V1 farms
  • the APR in V2 will drop to an equilibrium as others migrate their liquidity and arbitrage happens
  • you lose the window of 'no fees' - currently there is a window of no-fees open for migration to happen and for LPs to not be taxed again for depositing in a farm such as bLeo-BNB or DEC-BUSD. You still have around 24 hours. Initially there were 48 hours, Khal mentioned on discord. That works for additional liquidity, btw. But things can change regarding this no-fees window, don't do anything without checking first.
  • V1 will eventually become completely deprecated. Remember the issues PCS APIs for V1 provoked the AMM on Cub Finance for a few days, and that can happen at any time with a deprecated version; continuing to use it is at your own risk.

If you still have liquidity in V1 on Cub Finance, now is the best time to migrate it to V2. Well, it's not 'the best', but with every passing hour is getting worse.

You don't know if you have V1 liquidity on Cub Finance? If you don't know and have funds in Cub Finance farms, you have V1 liquidity. Otherwise you would have known, because you are the only one who can migrate your liquidity from V1 to V2.

If you need step by step tutorials, here they are:

If you have questions or technical difficulties, the easiest way is through the discord of LeoFinance, but you can also ask here and I'll help you if I know the answer.

Posted Using LeoFinance Beta