20K Leo Power & the Proposal
Happy Leo Power Up day for the lions who believe in the future of the " Everything App " project of the Hive ecosystem. We are living in one of the most fascinating times in the history of InLEO with an upcoming decentralized exchange listing, via Maya Protocol, and there is an ongoing proposal regarding the fate of CUB and PolyCUB tokens on BSC and Polygon Network.
This month is also valuable for me as I was able to grow my Leo Power to 20,380 LP by powering up more than 550 LEO today. As of writing, LEO is traded for around $.12 in Hive - Engine and the proposal may have an impact on the price of LEO, too.
Let's talk about them and discuss the benefits and risks for InLEO ecosystem.
The Proposal of Growing the CUBs
I have been keeping my funds on both CUB Finance on BSC and PolyCUB project on Polygon Network since the very first hours of the launch of both. When they debuted, I was holding 4 digits of money and the hard bear market period of crypto showed its massive side effects on my DeFi investments, too. Now, the holding is less in value but I had the feeling that there will be a use case for them one day in cross - chain integrations.
Before the announcement of the proposal, I assumed that the pLEO, bLEO, and CUB tokens may also find a place in Maya Protocol. However, rather than carrying them more, the team has decided to convert PolyCUB and CUB tokens to LEO to direct the full attention to cross - chain side of Maya Protocol and Thorchain.
PolyCUB is traded for $0.01 whereas CUB is around $0.0032 as of writing. If the conversion process takes place, the ratio is likely to be 12 PolyCUB per LEO and 40 CUB per LEO respectively. Considering that ratio, I do not think there will be a huge inflation of circulating LEO token in the ecosystem because lots of people already left the liquidity pools or they may already traded their tokens for USDC or ETH.
The only impact that I expect to see is that if the team runs out of liquid LEO in the treasury, then they need to purchase LEO from the open market. In such cases, the current LEO pools are not adequate to provide low - slipage trade opportunities.
In this scenario, there might be such an opportunity for PolyCUB & CUB holders.
When the ratio is shared by the team, there might be a short term supply crisis in LEO token unless the team has enough LEO to send in exchange of CUB tokens burned in the other chains.
The united form of 1 token 1 focus might be the best idea to gather the attention on a target to achieve it. The listing on Maya is opening another chapter for both InLEO and Hive ecosystem. If the market recovers from the current short - term trend, I'm sure we will many new Lions who find our products from Twitter or DeFi on Maya protocol.
Considering the events that the conversion of CUB / PolyCUB; the listing on Maya Protocol and the updates on the side of InLEO products, there are several different narratives available to the token. I keep growing my shares of LEO!
What do you think about the ongoing proposal by the Leo team?
Share your suggestions below 👇
Hive On ✌️
Posted Using InLeo Alpha