LeoFinance Keeps Giving
Welcome to one of the biggest updates in Hive's history. Our dearest $HBD aka stablecoin of the stablecoins, has entered the world of DeFi on Polygon Network. Thanks to Leo Finance team, we now have a running liquidity pool of pHBD & USDC on PolyCUB. You can club pHBD & USDC and stake them into the pool to earn PolyCUB Tokens at APR 58.55%. $232,491
For anyone who doesn't know it already, PolyCUB is a DeFi yield optimizer on Polygon with improved & sustainable tokenomics. Check out the ultimate PolyCUB guide by @mikedcrypto to understand how you can stake your crypto and earn rewards for doing so. Recently, @taskmaster4450 did a comparison between HBD (on Hive) & pHBD (on Polygon) and listed down PROs & CONs of investing in each of them. @edicted gave enough good reasons to invest in pHBD-USDC pool on PolyCUB over HBD in savings. Now it's time for everyone to read my thoughts about this topic if anyone cares enough! 😂🙈
Should You Should Invest In pHBD-USDC Pool?
I have been a huge fan of Stablecoin pools since you get to avoid volatility in the markets and get decent returns on your investment. Definitely better than keeping your money in a savings bank account. Also better than holding stables in your wallet doing nothing. With DeFi, you can simply put your money to use. As we all know, you now have two great options to use your $HBD - either put them in Hive Savings for 20% APR or put them into pHBD & USDC pool for the following reasons:
- Exposure To Polygon DeFi: pHBD-USDC is your safest bet to get some exposure to Polygon DeFi. Last year, I started my DeFi journey with Cub Finance. It was my first time and since then, I have learned a lot. It is the future of Finance. If you are a regular Hive user, chances are that you make a decent amount of $HBDs. You can use them to try DeFi opportunities outside of Hive. Since $HBD & USDC, both are stablecoins, you don't have to worry about the market crashes. Another plus point is that Polygon is cheaper than BSC in terms of transaction fees.
- HBD Supply Issue Solved: HBD has a supply issue. Now that the HBD Savings APR is increased to 20%, it is vital to fix the supply in order to see any kind of mass adoption of HBD. A deep liquidity pool on PolyCUB would greatly help everyone. If you are a whale on Hive who already owns a decent chunk of HBD, just bridge it to Polygon to get pHBD and provide LP. You'd be helping in fixing this issue.
- No Impermanent Loss: Impermanent loss is a massive turn-off and a risk factor for liquidity providers. In case of Stablecoin or single staking pools, there is zero impermanent loss. Both pHBD and USDC will not change in price that much, so there is no risk of losing one asset due to market volatility.
- Get In Early For The Highest Returns: Right now the APR is around 50% which is better than 20% you get in HBD Savings. If you get in today, you can enjoy these APRs while they last. As more people join in, it will get reduced. The plan of Leo Finance team is to keep it steady at 30% and above. In the future when PolyCUB governance is out, then users will be able to vote to change various aspects of the platform including the APR% you can get from this pool. As we all know, timing is very important in crypto. Get in early to make the most out of this opportunity.
- xPolyCUB: The yields you are going to get from pHBD-USDC pool are going to be in the form of PolyCUB, the native token of the platform. This can can be further staked in xPolyCUB vault which is one of the most interesting investment opportunities on the platform. Since it's a single staking vault, there is no impermanent loss. xPolyCUB to PolyCUB ratio keeps increasing because it auto compounds your rewards. It is designed in such a way that it keeps increasing.
What do you guys think? What are you going to do with your HBDs now? ;) Please comment below!
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Why nobody is staking? The volume locked did almost not increase at all since 2 days. Very strange.
Regarding 5. This is not a pro, but a con argument. pCUB is very speculative and on a clear downtrend. Sure, no impairmentloss by staking pCUB, but if the price is going down, it has the same effect.
Super strange! That's what I am wondering about.
Maybe because on Hive the barrier to enter DeFi outside Hive is way too high. That is why I wrote this blog. To tell people about it and hopefully, they dig in. They would be doing a charity to everyone on the network by doing so. Also, it's the safest pool to invest in for a newbie to DeFi. And you can earn extra APR, mostly above 30%. Half of my HBD earnings from my blogs will go into this pool for sure.
I will also wait for the marketing campaigns done on this by Leo Finance team.
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Regarding pt. 5, I know pCUB is speculative by xpCUB is not. The number always go up since the vault autocompounds your earnings. Obviously it's a long-term play and personally, I am not looking at the price much.
Moreover, when xpCUB lending is launched, you will be able to use your stake as collateral to get instant crypto loans that are self-paying. If the price of PolyCUB keeps going down, you will take some more time to repay. The only debt is time.
There's a risk of price swings, no denying that, but the future value prop is high. That's my personal opinion though. NFA. xD
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I think
(this pic is from this post by @l337m45732)
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Also, currently the harvesting doesn´t work at all.
Harvesting is working fine. Just do it from the main page.
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Yepp. It works!
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It workes, but the harvested coins do not show up in the "locked pCUB balance", I lost >30 already by failed haervests. Need to go out from all pools if this continues.
That sucks mate. Did you try checking with the team on Discord? Create a ticket maybe. This shouldn't have happened!
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I am tired of this, I am out now of the farms. But I have another problem. When I want to remove my liquidity on sushi.com, there is only (after my pools->manage) the option to add liquidity, but not to remove ☹️.
😂😂😂 Thanks for sharing.
I don't know about it.
So it should be the main reason why the LP value didn't increase at all
Fair points. It's definitely going to be interesting when more liquidity flows into the pool.
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From what I heard from Khal, they will make sure the APR is above 30% but I don't expect more than that.
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Valid points mate. Not many would like to lock their yields for so long. Once the governance features are out, I am sure many would want to change this.
The APR can go down till 30%. As @jfang003 mentioned, it shouldn't go lower than that to make it competitive with HBD savings.
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Are we saying that the rewards are paid out in pCUB alone? I have to agree with @stayoutoftherz on point 5 if so. Farm tokens with no particular use case seem to always trend lower, if they are being printed to just pay rewards then it's no surprise. It's a start though, hopefully the first of many defi projects for HBD though it wont be easy.
Polygon may be cheaper than BSC but it's less reliable. I don't like all the times I have seen errors. I don't think the supply issue for HBD has been solved yet. It has improved but there is not enough liquidity to say it has been solved.
As for IL, it depends on when you pull out your money. If you pulled on when there is a huge arbitrage opportunity, you can still suffer some IL but it's generally not that large (shouldn't be more than a few percent).
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Yeah, those errors do suck. I must say, UX on BSC is much better than Polygon but that's okay. Not a huge deal for me personally as long as I am not stuck for more than 10 mins.
Yes, it's not gonna solve so early. Will take enough time and liquidity from LPs. Let's hope we get to see that TVL rising in the pool in the upcoming days.
Great point J. Although it's not going to be much, but worth mentioning. If you are dealing with a large stake, even small percentages of slippage would hurt.
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I use Polygon a lot and have done for a while, to be fair the delays are very few and far between and I haven't seen any in a couple of months. I might have been lucky though.
Well I have found it a bit unreliable as I have run into quite a few metamask issues and the UI on PolyCUB is also having some issues showing the airdrop properly.
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Some really awesome points about how a new Stablecoin called HBD is making some serious waves in the DeFi space and also just staking it in general.
That higher APR makes me very interested in the capabilities and what it could be used for as DeFi continues to replace a broken banking system.
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Thank you so much @bitcoinflood. It's a great opportunity for Hivers to hit two birds with one stone - Helping Hive & Exposure to DeFi.
bHBD wen? 🙈🔥
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Another excellent piece @finguru.
There are a lot of reasons to be optimistic about what is taking place. The LP is just the beginning of what is going to be a massive explosion all around. It is exciting to witness.
Our advancement forward is multi-pronged which is going to make it even more powerful. For this reason, we need to keep expanding in all directions.
You SEO contributions are really appreciated.
As for Polycub, it is a well designed platform that is going to really benefit anyone involved. The pHBD is already starting to see some volume which is vital. I see the activity on the Internal Exchange is also up. So the pHBD-USDC liquidity pool is actually enhancing that.
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Thank you so much Task. I am hoping some of the Hive whales get onboard to make this initiative a success and contribute to this deep liquidity pool. Moreover, we just got bridged to the most famous L2 scaling solution of Ethereum. That's a great deal IMO.
🙏
Awesome!!! Just imagine where we end up a few months from now. Waiting for the day when pHBD volumes exceed the activity on Hive's internal exchange. Hoping for the best!
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This is really a very well written and comprehensive post, thank you!
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Thank you so much Kat :')
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Excellent summary bro, one of the best I have been able to read.
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Thanks a ton mate. It means a lot. My motivation to keep creating. 🔥
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Great job, brother! I'm staking some HBD I'm getting from posts. Not a lot but if everyone contributes we will get to our 5M goal!
!hivebits
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Success! You mined .9 HBIT & the user you replied to received .1 HBIT on your behalf. mine | wallet | market | tools | discord | community | <><
What's HBIT?
Thanks brooo! I am going to do the same.
Didn't realize we have a goal to achieve! 🔥
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Are there potential risks? I think people should know this too
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Yes sir. All the general risks of DeFi apply to this - hacks and rugpulls are the most common ones.
Moreover your the yields are in PolyCUB that can go to zero if things go unplanned.
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Your explanation is amazing. I will try it. However I need to collect HBD through my writing. Haha. Understandably do not have a large capital to buy pHBD.
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Haha. No problem mate. Even I don't have that much to spare so I will try to put my HBD earnings into it. 50:50 in Savings and pHBD-USDC pool.
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I checked your HBD. turns out there isn't. Haha. I have HBD around 4. hehe. I have to work hard.
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This is not the only Hive account I have 😉
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You are already very good at this. How do you manage that many accounts?
Show me your other accounts, so I can follow you.
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Sorry but I cannot disclose them for privacy reasons. It's not easy at all to manage these accounts. So many keys 😂
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It turns out that you also like to play puzzles. Hehe
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The rewards earned on this comment will go directly to the person sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.
Very valid points raised here. pHBD is the best way to draw out passive income from our post rewards on Hive.
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That's true. Thanks a ton, mate. Cheers!
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These are some more points to consider when making decisions. Thank you for this. Just like me, others might still be having a bit of a dilemma on what to do especially when the HBD holdings are small.
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Most welcome @ifarmgirl. I have a small HBD holding too, so I am going to do a 50:50 investment in HBD Savings & PolyCUB. Happy farming xD
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That's a good plan too :) Thank you and yes, Happy Farming!
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Wooow, that is so great
Thanks mate. 🔥
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it is a nice way to earn some nice APR. I think I will look into it and move some of my funds into the liquidity pool.
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