My Defi Project Updates
- I believe in the power of knowlege and decentralized finance.
- So for three years I have run projects here on Hive and Leofinance to give people access to decentralized finance in a simplistic manner.
- The idea was simple, defi is complicated, make it simple.
- But as sound as the idea seemed these projects never gained a wide following.
- This is a project status report on three projects.
Project Status Reports
- No Loss Lottery
- EasyDefi Polycub Pool
- Easydefi Cubfinance Pool
- SushiSwap Hack
No Loss Lottery
Closing the Lottery
- It is with a heavy heart that I announce the closure of this project.
- The No Loss Lottery was a Prize Linked Savings account which allowed depositors access to weekly prizes for 3 years here on Hive.
- The lottery prizes were in the 50-75-100 Leo range with about 21,000 Leo awarded over the 3 year life of the project.
- The Lottery was patterned after similar lotteries on the Ethereum Blockchain, which accepted crypto and awarded prizes.
- The Lottery was never as successful as it's counterparts on other blockchains, and after 3 years of trying to build up the Lottery membership I decided it was a product with no real demand on Hive.
- I know it was a big source of income for many who grasped the concept, but many did not.
- I thank those of you who participated and appreciated the opportunity to learn and grow.
Easy Defi project Status Report
EasyDefi PolyCub Pool
EasyDeFi Cubfinance Pool
EasyDefi PolyCub Pool
- The earnings has slowly declined with this defi project as the token is deflationary and APR were halfed with every halving.
- The token price has dropped in this bear market also.
- PolyCub is the home to many really good ideas and some have been exported to Cubfinance with really good results.
- This investment pool is closing and funds will be returned or reinvested according to investors instructions.
- So far everyone who has replied to the project update wants to move their funds to the Cubfinance pool, which is still earnng a respectable 20 plus yearly APR.
EasyDefi Cubfinance Pool
- This pool has grown, shrunk and grown again.
- Currently paying about 20% APR and earnings are sent monthly now to reflec reduced earnings of the bear market.
- This pool is the personification of the concept, make whats hard easy; the The EasyDefi Two Step : instead of completing the 12-13 steps to invest you send Leo to @easydefi wallet, and @easydefi sends you money monthly.
- Plus instead of paying transaction fees at every movement of your money, and seeing your investment get reduced to about 90 percent by the time you finanlly get it invested, @easydefi absorbs all the fees, so your complete investment makes it intact to Cubfinance.
- For those who grasp the importance and advantage of this concept this has been a profitable pool. The CUbfinance pool returned an ROI approaching 100% the first year and over 25% the last two years, as it approaches it's third year.
- Unfortunately, it is not not as popular as I hoped. It appears that to see the value of such a service you need to understand the complexity of the process.
- But for the 35 pool investors who see the value, I thnk you for participating. I think the price of CUb will rise over the next year and your earnings will be very significant.
- Sushiswap, the biggest decentralized exchange on Polygon, I think, was hacked this weekend, and permissions people granted it from their diital wallets allowed the hackers access to their funds.
- Polygon wich is always very busy and has long cues for transaction completion was a pretty slow this weekend.
- I have terminated or revoked all permissions for the invested funds to protect the wallet.
- In addition I have moved the Easy Defi Cubfinance Investment Pool funds to a new wallet with no connection to Sushiswap.
- The Polygon/Sushiswap funds are still tied up on Sushiswap, but I have faith the developer team behind Sushiswap will patch the entry point and normal transactions should resume soon.
- If the funds on PolyCub are lost, I will reimburse investors from my own funds, so no investor funds will be lost.
- No Loss Lottery Closed
- EasyDefi PolyCub closing and funds being moved to EasyDefi CUbfinance
- EasyDefi Cubfinance Pool still open, funds have been moved to another wallet for protection from Sushiswap Exchange Hack
- SushiSwap Exchange Hack has frozen the EasyDefi PolyCUb funds, but no investor funds will be lost, I will reimburse all investors from my funds.
- Questions? Comments? Please reply in comments below.
Posted Using LeoFinance Beta