So, prior to today, I didn't really get it. The whole POLYCUB, XPOLYCUB thing didn't really make much sense in my head. I've never used farms that had this concept before, and it just didn't really click in my head how it actually would work.
But now I get it.
And it is magical.
XPOLYCUB for dummies.
The display interface for XPOLYCUB does not really show how good it is, yet. @khaleelkazi says there are plans to improve the UI, but for now it takes a little math to see what is going on.
Long story short...
- People stake funds into farms and kingdoms.
- They earn yield.
- They claim rewards.
- If they want rewards NOW, it is taxed 50%.
- That tax goes to XPOLYCUB.
In around 8 hours, since the Polycub platform went live, XPOLYCUB has gained over 60% in value. In the early days, it is worthwhile for the farmers in farms and kingdoms to pay the 50% tax to unlock immediately, as the APR's on everything are so high. All these taxes go to increase the XPOLYCUB value.
Here is an example:
- My personal airdrop to claim on day 1 was 5.88 POLYCUB.
- I claimed it as soon as the site went live.
- I staked it to POLYCUB pretty much immediately.
- Pretty much got 1 for 1, or close to.
- Lots of farmers started pooling and farming.
- Lots of Polycub got taxed.
Now, 8 hours later, if we look at my XPOLYCUB, I still have 5.88. It has not changed at all, right?
WRONG.
On this screenshot, we see there is basically 90,000 POLYCUB total staked.
Then, when we check Polygonscan for the XPOLYCUB token we can see there is currently 54,000 XPOLYCUB. (Rough numbers, easier math)
So from that, we can see that each XPOLYCUB is worth 1.66 POLYCUB. (90000/54000)
So that means that my 5.88 XPOLYCUB are now worth 9.76 "normal" POLYCUB.
So, this mechanism has yielded a 66% increase in less than half a day. Pretty incredible really.
Obviously, the rate of growth here will slow down over time, as farming yields find their more realistic levels and people get choosier about being taxed on their farming activities.
But, it is pretty clear that getting into XPOLYCUB as quickly and as biggly as you can will be a rewarding experience.
The ratio of POLYCUB to XPOLYCUB can never go down, it can only go up over time.
Genius. Congrats Khal on implementing this design. Now I need to find some more funds from somewhere to get more POLYCUB asap. Wasn't planning on buying much, but now I am.
Happy farming everyone.
JK.
- Not financial advice, do your own research.
Posted Using LeoFinance Beta
where do you stake the polycub?
i claimed my air drop but it’s just sitting in polycub right now. there are no kingdoms for polycub right like on cub finance?
i’m such a noob lol
Click the XPOLYCUB tab, and stake asap.
https://polycub.com/staking
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Thank you sir. And I noticed about 50% went from polycub to xpolycub, that's normal right?
Yes, XPOLYCUB is now worth over 1.7 "normal" POLYCUB each, so when staking POLYCUB, you get less XPOLYCUB. But that ratio goes up over time, can never go down.
The UI is very unclear currently, Khal has said it will be fixed so the ratio of XPOLYCUB to POLYCUB is shown.
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Brilliant, thanks man. Appreciate the help!
This system is SO brilliant, liquid staking is 100% the future, and makes yield farming even more lucrative. DeFi has come so, so far in the past couple years.
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for polycub.com you'll also need to set up your wallet (e.g.Metamask) for the Polygon Network, and add a small amount of MATIC for fees.
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So xPolyCub is the compound interest-bearing token version of standard PolyCub, is that right? Trader Joe on AVAX did this with their native rewards token JOE and made "xJOE" so that you essentially could collect all of your staking interest WITHOUT GAS fees...brilliant! It also means the staking is liquid and opens up other yield farming opportunities too of course...which is exactly where DeFi shines! Parlaying 1 investment into 3,4,5,6+ different revenue streams all earning at once,and some/all of them even getting compound interest is mind-boggling. We are so lucky to be alive right now, these kind of opportunities will not around forever, I'd give these kind of returns may 1-2 more years before DeFi becomes so saturated that the returns get cut by 50-70%+.
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Hey bro, I'm having issues with the airdrop claim. It is showing on Cubfinance but not reflecting on Polygon side when I claim it
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I dunno, the technical side of things is not my strong point. First thought is have you switched metamask (if that is what you are using) over to the polygon network?
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yeah I've done all that already. I have sent Matic to my wallet, and even added Polycub and Pleo to my wallet but I just can't seem to claim
I don't know then, my skills are not good on the tech stuff.
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The airdrop you see on cub i assume is the full 60 days worth
I have over 2k on cub finance but my claim for day one was about 23 polycub.
The claim button on polycub greys out when you have claimed for that day. Maybe check you wallet or you address on polygonscan to check if you already claimed for day one.
Crazy, but now clear, thanks!
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Sounds XPOLYCUB is now a trending thing in the air. Good to hear more about XPOLYCUB and upcoming features for cub holders or investors. Indeed very helpful blog.
Yep xPOLYCUB is quite amazing :)
I’m having a lot of issues with the platform right now. Not sure if it is an error on my part or something else. But I’ve lost patience for the day so will go to bed and try again later.
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Have you been able to get it all working for you mate?
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Haven’t had a chance to try again. I had to do a quick dash to Melbourne from Adelaide. Have the airdrop issues been sorted out?
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For those that have enough capital to stake , its time to smile to the wallets !!
Yes it is true polycub is a beauty thing because it rule the world now.
Thank you for the explainer on that. I had no idea how it actually worked, all I saw was number go up lol
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Hm... when I switch to polycub and try to enable staking I got message in my metamask : Insuficcient funds?
Ya, the XPolycub is turning out to be a nice one for me too.
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How do I claim my airdrop without using Eth and its crazy gas fees. I know this is a newbie question but is there any guide for those that are new to Polygon?
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The daily interest rate does not correspond to the Apy, do you know which one is correct?
.
Super interesting, I eally want to chel PolyCUB out and was wondering about it for a while, this was a good update.
Yeah, I missed on all this, still can farm and get some yield, will be handy hopefully!!
Can you post the link about the PolyCUB site plz ?
It'll be nice when they improve the uo around this. Right now im just going to try stake all my airdrop stuff into xpolycub at this loint as i dont really have anything else to get into. I.e no liquid find of sorts.
Still the airdrop alone at this point has resulted in a pretty nice gain £ value wise.
Also, unrelated question: how much does it cost to promote a post? Wondering if it is worthwhile. Appreciate any info, thank you.
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I spent 15 LEO on this one. Basically, to use the function you send an amount of LEO to the @null account with the link of your post in the memo section. This burns the Leo and boosts your posts visibility. Top spot will go to whoever sends the most, with a time decay. If you are keen to see what it would take to get top spot, just check on transfers to the @null account of leo, and see how much the person in top "promoted" position sent. Send a bit more, and you will take over that spot for a bit.
I think it is an underrated option for newer users to get their content seen and noticed. So long as the content is decent, and not plagiarism or low effort, it can work well.
In this case, the main reason I did it was I wanted the post seen, and I have an official curator position and delegation. It was my turn where posts I vote on through the @leoalpha account I run were being featured in the "curators pick" section. I choose not to vote my own posts with delegated funds, so this was the best way to get my post noticed.
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Thanks for the info. What happens if you send some but it's not the top bid?
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Indeed staking is a good investment in terms of short span durations.
xPC emerged as a very stable form of investment, even if the market goes down, PC has still maintained a nice price.
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In all this, is it possible to use Trust wallet on mobil.
What alternatives for mobile devices are there.
I couldnt also claim the airdrop using trust wallet so I guess it was a wrong approach all along. But the airdrops are counting..
Anyhelp.
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the problem with the whole CUB thing is that the main idea is to make more of it by staking etc. etc.
There doesn't seem to be any use case for it besides that which ultimately means that there isn't a lot of underlying value. Or have I overlooked something? Most people will ultimately always be left holding the bags of the ones who got out earlier...
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