It's been a while since I've posted.
I guess I should say something.
Happy Freedom Day?
Murica!
Home of the Brave!
Hm, yes, in any case, I don't really have much to say right now, as is often the case when I'm on the road. I had a really weird dream last night that I can't remember (only that it was bonkers). I saw some cute kids wish a happy "Independence Day" to another family with, shall we say, darker skin. The sassy mom muttered under her breath something like, "Hm, yes, but for who?" Quite right.
I guess I still need to write a post about Roe v Wade, but that's a shit sandwich I don't feel like biting into giving the time constraints at play while I write these words in this hotel room.
Hmmm... let's see...
I powered up a bunch of LEO recently and bought a ton of CUB as well. "Someone" rage dumped CUB 35% in a single transaction. I didn't check the wallet, but I think I know who it is. It was a whale in the BNB/CUB LP. Even with the reduced token price the APR on BNB/CUB went up to 62%.
To be honest I was waiting for something like that to happen. Been looking to secure a bigger position in CUB/BUSD. It's funny because even if price drops another 50% it still only takes like 4 months to farm back the 'loss'. More like a break even wash. Now I have plenty of stable coins to pay my bills for the next year or two. Feels nice. I should be able to avoid selling very much Hive during that time.
I wanted to complain about something LEO was doing. Figured it warranted its own post but I'll just tuck it into this one. The wrapping bots have powered up like half of their stacks. Now when someone wraps their LEO into ETH, Polygon, or BSC half of that money is powered up. This is a wholly unacceptable practice that syphons money away from anyone who actually paid for their tokens, and gives it to... LEO curators?
I can see exactly how this happened.
It's the exact same strategy that was employed when pHBD was launched on Polycub. Half of all HBD was powered up to add yield to the pHBD/USDC LP. It's exactly the same strategy employed in the exact opposite context.
Moving HBD to the savings accounts makes perfect sense because the LEO ecosystem doesn't control Hive. It's a waste of money if the HBD is just sitting there, and also that yield is funneled back to the stake holders in the form of yield on the derivative asset.
That's the opposite of what happens when an account like @p-leo or @b-leo power up their stake. The LEO ecosystem controls the LEO ecosystem. Instead of yield being given back to the stakeholders it's being leeched from them and given to another authority (LEO curators). Also a 3 day timelock is a lot different than a 4 week timelock.
At the end of the day, simply allowing LEO to sit on @p-leo and @b-leo is not a waste of money in the slightest bit. On a technical level it's a nonsensical strategy even though it looks exactly the same as the HBD being put into the savings accounts. It is definitively not that.
Actions speak louder?
But yeah also I powered up a ton of LEO and now have over a quarter million tokens, which is hilarious. Gotta support the stuff being built on Hive and all that. Mistakes will be made.
Conclusion
I'm out of time.
Posted Using LeoFinance Beta
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