We've added DEC to the list of available farms on Cub Finance. As of today, you can now send DEC to the Binance Smart Chain, pool it with BUSD and deposit liquidity in a Cub Finance vault to earn yield.
DEC is the native token of the @Splinterlands game and it offers a variety of features to players of the game and investors who leverage the NFTs within it. DEC serves as a sort of "loose" stablecoin. It isn't strictly pegged to a certain value, but the nature of the features utilized with DEC keeps price variations to a minimum.
In the original announcement, we mentioned that some changes were coming to the CAKE pools (and Den). After reviewing the possible liquidity that DEC could offer, we decided to lower the multiplier on the DEC vault - though the APR will still be around the % that we originally intended.
The DEC vault features:
- 3x rewards multiplier
- 4% deposit fee
DEC doesn't have a lot of float and is continuously used in the game. This means that there can only be so much liquidity in the DEC farm. We can update these metrics as needed but after running some math, we've figured that 3x will lead to DEC having an APR on par with other vaults in the Cub Finance ecosystem.
Since we're taking less multiplier for DEC, the changes for CAKE pools are less severe.
- CAKE-BUSD farm inactivated (there was only about $130k liquidity in this pool. The most underutilized of them all)
- CAKE-BNB farm multiplier reduced from 2x to 1x
That's it. No changes to the CAKE den nor the DOT den.
How to Farm With DEC
Once it's wrapped, you can head over to https://exchange.cubdefi.com/#/add/0xe9e7CEA3DedcA5984780Bafc599bD69ADd087D56/0xE9D7023f2132D55cbd4Ee1f78273CB7a3e74F10A to add liquidity to the DEC-BUSD pool.
After adding liquidity, you'll receive LP tokens. From there, just go to the "Farms" page, approve the DEC-BUSD LP contract and then deposit your LP tokens in the vault.
For an in-depth guide on how to use Cub Finance to swap, pool and vault your liquidity head over to the docs: https://docs.cubdefi.com/tutorials/how-to-deposit
Yesterday, we recieved our audit report back from CertiK. Everything looks great and their #1 suggestion was that we implement a timelock smart contract. The reason we're mentioning it here is because it directly relates to updates such as this post (and the previous 48 hour notice post we published).
This timelock contract will actually impact our ability to update farm multipliers. This is not so much a security risk for the farms themselves but it can pose a risk to the CUB token (if the team were to perform a rug pull by adding some ridiculous multiplier and changing the rules on a whim).
We gave a 48hr notice that these DEC and CAKE changes were coming but it's far more secure in the eyes of CertiK and BSC users to have an actual smart contract that forces us to have a 24-48hr timelock on changes such as these.
The timelock contract is already prepped and ready to go live. We'll be adding it soon. Very soon.
After that, we'll pass the audit report back to CertiK with our smartlock added and then get their final review and publication.
Posted Using LeoFinance Beta