With the launch of pHBD, we set out on an important mission to grow the Hive Ecosystem. HBD's fixed interest rate being raised to 20% is one of the best moves that Hive has ever made as a blockchain, community and crypto project.
The problem that remains is getting your hands on HBD you can see this as a resounding effect ever since the HBD savings rate was raised from 12% to 20%. People are trying to acquire as much HBD as they can but it is incredibly difficult to buy it on the open market. Exchanges like Bittrex have no liquidity, listings like Binance are non-existent and the internal market is only wortwhile to buy a few hundred dollars worth at a time.
Enter pHBD.
How pHBD Solves the Liquidity Problem for HBD
pHBD is a wrapped version of HBD that the LeoFinance team deployed on the Polygon network. Along with this launch, we listed pHBD-USDC as a liquidity pool on the Sushiswap decentralized exchange.
Yesterday, we released the pHBD-USDC Farm on PolyCUB. The Farm is currently paying a 57.98% APR or 78.49% compounded APY.
Compared to the base fixed-interest rate for saving HBD on the Hive blockchain, this is nearly 3x higher.
The reason for this high APY is to incentivize HBD liquidity to enter this pool. Building deep HBD liquidity is incredibly important for the future adoption of the Hive ecosystem.
We're working as hard as we can to develop more incentives for staking HBD into the pHBD-USDC pool. We want HIVE to succeed... badly. It directly impacts LeoFinance and all of our applications. More on this later.
Liquidity
Right now, there is $232k in liquidity on the pHBD-USDC pair. It's been less than 24 hours so this is a great start. Our goal is to develop this into a $5M liquidity pool. $5m gives a great deal of flexibility for pHBD to continually grow and ultimately allow DeFi whales to onramp and offramp into the Hive ecosystem through HBD savings.
DeFi Whales
I've spoken with - likely - approaching over a hundred DeFi whales. We talk about LeoFinance, CUB and POLYCUB but lately I've also mentioned HBD. HBD is the longest-standing stablecoin in the entire crypto industry.
This being said, most people have never heard about it or how it works. I explain the ecosystem of Hive to them and how HBD maintains its peg and they are fascinated by it. It seems like HIVE and HBD have the potential to gain even a fraction of the market share that LUNA and UST have.
Imagine that... Billions of dollars flowing into the Hive ecosystem. That could radically change the lives of all of us here on Hive. All of the apps on Hive would benefit and all HIVE hodlers would get far wealthier. All of this is great for Hive and great for LeoFinance.
So why don't they throw their money into HBD? I've told a few to buy up even $20k or $100k of HBD which is peanuts for people of this caliber who stake stablecoins in other platforms like Anchor.
Their issue? Entrance and Exit Liquidity.
See, DeFi whales - and really any investor, for that matter - need to have the ability to enter a position with low slippage and exit their position at any time with low slippage.
Without this characteristic, you could get yourself in an extremely bad situation very quickly. First of all, you'll lose several % on your entrance into the position.
Earning 20% on a stablecoin is great, but not when you lose 5% of your stake off the bat just for buying a position.
Earning 20% on a stablecoin is great, but not when you lost 5% of your stake off the bat AND lose 5% on the way out. That's 6 months of earnings gone just to enter and exit.
pHBD-USDC has the potential to change that. Imagine being able to buy tens of thousands, hundreds of thousands and eventually millions of dollars worth of HBD without paying high slippage costs.
pHBD can achieve this through a number of ways. It all starts with deep liquidity:
- Having deep liquidity allows trades of $10k to go through. Many DeFi whales would be happy legging in $10k at a time
- Immediately after these sizable trades, the internal arbitrage bot buys HBD from other sources (exchanges, internal markets, etc.) and wraps it to pHBD and sells it to re-balance the price and bring pHBD back down to its $1 peg
- Buyers buy up again - rinse and repeat
This allows people to enter an HBD position with low slippage. Under 1% slippage in many cases which is exactly what they want. Then they know that they can do the same thing on the way out. It gives them the peace of mind that they need to hodl a large stake in HBD.
What We Need From Hive - Tell a Friend
What we need from the Hive Community and Ecosystem now is liquidity for pHBD. We need as much HBD as possible to flow into the pHBD-USDC pair. That's why the APR is currently 58%. We're trying to make it as beneficial as possible for the LPs, Hive Ecosystem and the PolyCUB Ecosystem as well.
If you're reading this as a Hive user, make sure you tell every other Hive user you can about the value proposition of pHBD. It's foundational to the success of Hive in the long-run in our opinion: once we seed deep liquidity to the tune of $1M+, we'll be able to start onboarding DeFi whales into stablecoin positions who will hodl HBD in the LP or on-chain for 20%.
- There is no deposit fee for depositing liquidity in pHBD-USDC (for the time being, to incentivize early liquidity providers)
- The pool is currently $238k which allows some smaller TXs around $500-$1000 to be pushed through with minimal slippage. More liquidity will allow a lot more DeFi users to leg-into an HBD position
Writing Contest:
"Why Every Hive User Should Stake pHBD-USDC If They Want HIVE and HBD to Gain Mass Adoption"
- Tag your post with #phbd
- Winner will get 100 HBD (chosen by the curators)
- All posts tagged with #phbd will get curated by @leo.voter
Posted Using LeoFinance Beta
I think the the pHBD-USDC got some massive
attention from Hive users in a couple hours since it's launch. I made a guide to let those following me know about how to go about the whole process. The writing is quite important so this new development would reach more Hive users and investors. I'm glad this finally a reality. Kudos Team Leo!!!
There is a lot of attention from the users which is good. We are just going to have to make sure we keep the momentum going.
Posted Using LeoFinance Beta
The importance of HBD to the hive ecosystem cannot be overemphasized. With hbd gaining attention, it helps hive. Thanks to polycub for addressing the problem of liquidity to an extent with the stable pool
Posted Using LeoFinance Beta
Today, I had the privilege of talking a friend into investing into HBD with a mention of PolyCUB's 70% APY for the pHBD-USDC pool. many out there want an investment option in crypto where they can buy in and the value of their capital is retained.
Posted Using LeoFinance Beta
That is a good one. Doing my part also. The APY is hard to resist for anyone who get to hear this for a stable coin. We all should be promoting HBD
Posted Using LeoFinance Beta
We just have to get some more in there.
Posted Using LeoFinance Beta
If we follow the route like Luna with UST by creating more liquidity for HBD, the hive platform would open up in several no of ways. I commend the leofinance team through polycub for seriously pushing in on this. The contest is good one and I trust it will help create more awareness for HBD and Polycub,
Posted Using LeoFinance Beta
Without a doubt. I am working on getting 500 HBD together to put in there.
If we keep adding regularly, it will open things up.
Posted Using LeoFinance Beta
HBD presence on exchange is inexistent so seeing this farm with an easy-to-use bridge to a low fee blockchain like Polygon is freeing trading on this great stablecoin. And to have better earnings with pHBD compared with the 20% APR from Hive is just one more reason to participate in the pool. Optimizing returns is what will make the difference in the end and pHBD on PolyCUB is the best option.
Posted Using LeoFinance Beta
I just went and bought 70 HBD off the exchange with some extra tokens I had in my H-E wallet.
Not a huge amount but something that is helpful.
It am trying to put together a decent position of liquid HBD to move over to the LP.
Posted Using LeoFinance Beta
This is the part of the reason why have decided to withdraw $500 from my bank account where nothing is entering and invest it on HBD for the sweet interest and now PolyCUB's 70% APY for the pHBD-USDC pool is just making everything more interesting by the minute.
Posted Using LeoFinance Beta
This made my Saturday happy haha.
I have a question regarding the 57% APY offered by polycub.
For example this apy of almost 3 vx what HBD savings offers in Hive is to drive a great investment, but if they then lower that apy and place it at par with the one in HBD savings, wouldn't it create a massive outflow? I think if they are proposing this APY they should keep it or if they lower it it should not go below 30% as many people would quickly lose interest.
How would it be done there?
Posted Using LeoFinance Beta
The APY on Polycub is not dependent up the APR on chain. On Polycub, it is dependent upon a host of issues on that chain.
We will see the APY drop as more capital enters the LP.
Posted Using LeoFinance Beta
Ah okay, clarified that point, thank you very much.
Posted Using LeoFinance Beta
I have high hopes that PolyCUB will solve the HBD liquidity (Supply) issue. The interest that pHBD has received after its launch proves this.
In addition, it will be very useful for the Hive ecosystem and the community if we tell everyone about the importance and benefit of this.
Posted Using LeoFinance Beta
Wrote a guide on how to bridge and farm yesterday. Now to explain why people should do it. Game on.
Posted Using LeoFinance Beta
Another useful piece of content.
Here is the post.
It is always good to show people how to use the tools that are being developed.
Posted Using LeoFinance Beta
Thanks for sharing my post buddy!
Posted Using LeoFinance Beta
Stable coins is a multi billion dollar business. Provide liquidity for HBD will enable it to also become flagship. I no doubt that soon HBD can be mentioned in the same way as other stables like LUNA and UST !
Posted using LeoFinance Mobile
It will end up being multi-trillion. This is only going to keep growing.
Posted Using LeoFinance Beta
I am happy that polyCUB is growing. Having read a few articles and beginning to understand DeFi, it is good that I can create content to earn HBD then invest it in polyCUB pool.
On the above contest, can we modify the topic or everyone to use it as above?
Posted Using LeoFinance Beta
Woooooht? 😮. I'm getting my ass into this Lol 😂. Honestly, I'm thrilled with the development I'm not gonna unwrap my pHBD to HBD.
Building deep liquidity for HBD is an incredible development for the future adoption of the Hive ecosystem. It is a great solution for Hive and we're opening up for the entrance of DeFi whales.
But I keep wondering if its only liquidity, the major hindrance to mass adoption of Hive with all the possibilities that abound here.
I am happy to have also contributed my quota. Will keep adding as much as I can too. I know there's a huge future for PolyCUB.
This is terrific. This is loyalty at its peak and I celebrate this greatly.
I'm lurking around to hear the next addition to pHBD-USDC pool on PolyCUB.
I will also do my best to marketing pHBD>
Posted Using LeoFinance Beta
I'm seriously considering selling off some of my other crypto assets into HBD and providing it as liquidity over on Polycub.
Posted Using LeoFinance Beta
How do you get large amounts of HBD? The biggest liquidity pool is $132k?
Is there other ways?
Posted Using LeoFinance Beta
I will write up a little article about this or would a video about this be better as I am a video content creator mainly?
When you guys are running these comps, you should be also getting people to link to a piece of evergreen content that you want to rank.
For example your original pHBD:HBD LP announcement post, or Khal's post on how to wrap HBD to pHBD.
Pick your best post and get everyone's related shitposts to link to it.
This is a key factor in SEO rankings.
Posted Using LeoFinance Beta
We have to answer a more basic question.
This should be linked to every post relating to HBD.
It is a basic guide that answers question plus has some nice time behind it.
Posted Using LeoFinance Beta
I believe the progress of HBD at the moment is unstoppable and am impressed it really helping to improve the blockchain positively and also adding value to users in the blockchain when investing in it and I believe mass adoption will be gained through liquidity.
Posted Using LeoFinance Beta
LOL I would say we are still stuck in neutral. A lot of things going for it but requiring a lot of work. Going to be fun to see how the next 3-6 months unfold.
Posted Using LeoFinance Beta
More keeping coming for the HBD of a thing,this is really a very good one for invertors and of all it can only get better
Posted using LeoFinance Mobile
Nice move with the contest. This way people get to play their part by creating more liquidity for HBD by getting into the pHBD-USDC pool on polycub DeFi. Would definitely be joining the contest
Posted Using LeoFinance Beta
Yeah, every Hive user who creates contents earn HBD and will be cool if they support Hive's growth by providing liquidity to help onboard new users.
Posted Using LeoFinance Beta
True. Post rewards is one easy way for everyone to get in. Our collective effort is needed to help this thrive
Posted Using LeoFinance Beta
.
Success for all. Let's go for it. Community is the most important factor in any project to become successful. Let's get more users into pHBD_USDC.
Posted Using LeoFinance Beta
This is going to attract more people to the community and also to the pHBD pool.
I’m going forward to it, leofinance is definitely doing a great job here.
It's a sure thing. WE only have to spread the message in the best way we can while also adding our HBD to the liquidity.
Posted Using LeoFinance Beta
The idea of phbd is really fascinating to be aware of. This is creating a conducive environment for many whales in the Cryptocurrency space to get involved in hive blockchain which we all have been looking for
Honestly this is a plus to the hive ecosystem,can't just believe how things keep getting better here,from polycub to HBD again,this is really giving more attention to the community right now
Leo Finance teams always make brilliant projects which always make new breakthroughs and pioneers in mass adoption in cryptocurrencies this is why that makes Leo Finance Community INEVITABLE !
Posted Using LeoFinance Beta
This is nice initiative that is not only good for Leo-polycub but needed for Hive too.
Posted Using LeoFinance Beta
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.
Read how this all have started with Toruk
Posted Using LeoFinance Beta
Very nice Info.
Thanks
People have no more money to invest.
They follow your advice and spent it all on Rune.
Posted Using LeoFinance Beta
That’s interesting. RUNE is up 20x since my first post on it and my personal position is over 10x in USD terms.
Those people must have been buying the tops and selling the dips. I always dollar cost average.
But as always, DYOR. If you buy something because someone else talks about it, that’s not DYOR
Posted Using LeoFinance Beta
You missed my point. It was meant as a joke.
I know that your call was good. I was just saying that people are already invested elsewhere and have no more spare money.
You constantly live by the impression of somebody attacking you.
Relax and keep building. We all support you.
Posted Using LeoFinance Beta
Definitely, this is interesting and more hands are needed in the pool, liquidity is really needed and sure it would come slowly but surely.
Making a word to mouth to people already...
Posted using LeoFinance Mobile
Blog post done and sent as a solo email on ListNerds 😉
Posted Using LeoFinance Beta
I'll be entering this tomorrow, great initiative!
Nice! This is going to be a great way to help bring in liquidity. Could something be done for a BSC bridge as well?
This is a very interesting project. To me, one of the main problems of HBD, has been the difficulty in exiting the position, i.e. lack of liquidity. This initiative addresses this problem in an effective manner, and it has a juicy APR!!
Great idea!
My heartiest gratitude to LeoFinance team for this excellent step or job. If pHBD can solve the problem, it going to be awesome. 12%-20% increase rate is really great that made we hivers happy.
I believe that people will take this advantage by adding more hbd to phbd pool, hbd will change so many thing by the time it explodes
Posted Using LeoFinance Beta
this is a wow and suplus to the hive ecosystem,can't just believe that things keep getting better here,from polycub to HBD again,this is really giving more attention to the community right now and I'm delighted to be a part of this great increase
Posted Using LeoFinance Beta
The resound idea for Hive to grow is limitless.
Leofinance just made it priceless.
From the abundance this community will level the playing field.
Great Job guys!
!BEER
Posted Using LeoFinance Beta
View or trade
BEER.Hey @leofinance, here is a little bit of
BEERfrom @pouchon for you. Enjoy it!Do you want to win SOME BEER together with your friends and draw the
BEERKING.I really hope Hive can repeat what Terra did with UST. Started accumulating HBD to enter pHBD-USDC pool plus also recommending my other hive buddies.
Lets hope we can cross 1000K lp soon on the pair as a first step. The more the pool grows more stable coins whales are gonna get attracted to it.
Kudo to Leofinance team for providing Hive with this great opportunity.
Posted Using LeoFinance Beta
Yeah this is awesome, another problem solved by the LeoFinance team!!!!
I have to stake... but I'm gonna have to wait my 3 days!
So, I had a question about the 5% on the way into an HBD position (onchain) and another 5% on the way out. I remember Neal talking about it recently, jut I didn't catch why those fees are being taken?
Posted Using LeoFinance Beta
I love cryptocurrency-backed payment cards.
Have a great day.
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I am interested in moving large amounts of HBD over to polygon. What is the best way to get HBD?
Posted Using LeoFinance Beta
The apy at the moment is irresistible for a stable coin. Mass adoption of hbd would a real joy for all of us here on hive. Another great idea to boost our economy from the leofinance team.
Success. This is something extraordinary. Hopefully HBD and HIVE can fly to the moon with the arrival of pHBD-USDC at PolyCUB.
Posted Using LeoFinance Beta
With the lunch of pHBD and Increase HBD unto 20%,is going to help to generate trafficking in the community. Many people has joined the community since this lunch of pHBD and Increase of HBD.
Posted Using LeoFinance Beta