Migrating to the new CUB kingdom

A few days ago, LeoFinance announced the introduction of fixed-term staking for the CUB kingdoms. I thought that the old CUB kingdom was going to continue paying out rewards but I found out last night that it no longer gives out any rewards if you don't migrate. So I thought it was a good time as any to tell people to migrate their funds from the old CUB kingdom to the new CUB kingdom.

CUB kingdom

The kingdom is great because it auto-compounds. This means that you don't have to really pay attention to it because it will automatically re-invest your earnings. This makes the process more passive and you don't have to worry because you will be getting more CUB. The downside is that it's based on the price of CUB so if CUB price goes down, the fiat value will also go down. The rewards would come from the CUB inflation and a part of the fees generated would also go towards the vault to later buy and burn CUB.

Differences between Flexible and Fixed-Term

differencdes.png
Above is the chart of differences between Flexible and Fixed-Term from the post introducing fixed-term staking. If you prefer the old CUB kingdom where you can unstake at any time, then flexible is the way for you. Otherwise, fixed-term staking will change it so that you can't unlock your CUB before the period is over. However, it also removes the fees and your rewards will also go up according to the amount of time that you lock up the CUB for. I am wondering what will happen after the lock-up duration ends but I am guessing that it will just revert to flexible until you decide to extend it.

Process

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I followed the steps outlined in this tutorial. However, I did mess up by pressing the fixed-term staking when trying to deposit my CUB and it went to a blank white page for 10 minutes in CUB, I did eventually get things done. As a note, you will want to first deposit your CUB into the flexible and then click the "Convert to Locked" button to change your stake into Fixed-Term. I just don't understand why there wasn't a button to just deposit fixed with the time duration.

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It took a total of 4 transactions and a total of 0.0043823 BNB ($1.298050) in transaction cost to move from my old CUB kingdom to the new CUB kingdom and a 52-week locked rewards state.

after fixed.png
From what I see, your profit is not added to your kingdom before the locked period is up. In a way, it doesn't really matter but I wonder if the yield could change over time depending on how the multiplier goes. So it might not be the best place for yield due to the lock-up period. It does give you a steady supply of CUB to add to your collection though.

Conclusion

The process itself wasn't that complicated but I still think the site has some issues as I was stuck for ten minutes. Other than that, I like that I won't suffer from the fees but I wonder if it will cut into how much CUB is burned.

Have you migrated your CUB kingdom stake yet?

Please feel free to leave a comment if you have any questions or feedback.

Posted Using LeoFinance Beta



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Thanks for this, I have not migrated yet and I will be doing that right away before I get carried away with other activities.

Posted Using LeoFinance Beta

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Yea when I got a reply about how the current kingdoms were giving out rewards, I rushed to get it done. Then I made a post today just so people can migrate over and make sure they are still earning.

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