Another pHBD Post
Looks like I'm a bit late to the party on this one but whatever, it's time to milk another shitpost just like all the other shitposts. My shitpost will not be denied.
So far the pool looks good.
58% is very very high but it also just launched so it's bound to go down a bit. The LEOfinance team assures us it will never go below 30%.
Again, I'm not really convinced that this math will actually work out, but it also doesn't really matter as I have already described several reasons why users would want to farm this pool even if it was lower than 20%. A 'Guarantee' of 30% is pretty good in this context.
We see there is currently a seed of $232k total liquidity in this pool with a yield of 58%. 10% of that yield is from the HBD being locked in the savings account on Hive used to as a subsidy and peg to pHBD. Currently the pool has an x1 multiplier, which is very generous considering that's just as much yield as the LEO bridge pLEO/MATIC.
We also need to see where we are at when the end of the month comes and we get another halving event. That even alone could easily lower the yield from 58% to around 35%, and that assumes no one else is going to enter the pool in that time, which seems highly unlikely as it's a good deal and we want more liquidity to enter.
How much HBD can we buy out of this pool?
Seems like a good sign...
Won't know for sure until the yields stabilize, and we are only 5% of the way to our goal of $5M in the pool. Even then at this low levels the pool is very useful.
We can see that HBD is already slightly overvalued due to the demand to buy them and stake them at this high yield. Clearly more people are going to start buying it off the other markets and wrapping it here to get more to supply that demand. We see that we can dump 1200 HBD right now and get 1200 USDC in return even with a 1% slip. This is a pretty good sign that all liquidity and volume numbers will start increasing across the board. I expect to see a positive feedback loop cycle soon.
0.25% fee
The wrap/unwrapping fee is a quarter of a percent, which isn't great but also isn't terrible. This will be more than worth it to pay in many circumstances, especially considering this pool is about to become exponentially larger than every other HBD liquidity pool in the world. Also the fee will be used for the greater good of the network and synergistically be used to benefit everyone on the platform so it's hard to complain.
Also it's important to note that this fee never has to be paid when HBD breaks to the upside and we dump it for USDC. In that case the USDC could be dumped for whatever else or even be used to buy HBD on centralized exchanges or the internal market on Hive.
At some point we are going to see demand for HBD skyrocket again just like we did before and price will be pushed to $1.05, sparking conversions and pushing the price of Hive up as the demand to hold our debt increases.
Again, so many things are happening for Hive and the price just keeps puttering around sideways around 80 cents. Eventually we are going to get another FOMO cycle up. Soon tm.
Conclusion
Things are grinding along nicely. Bonding will be rolled out soon, and then after that loans from the vault will go active. Stop asking wen, the answer is always soon.
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It's literally impossible for you to shit post. I find a lot of value in your posts. Some more than others but when you write about things I am interested like HBD/Poly they are a gold mine. And, you never milk because you redistribute to everyone without question. Very few give it away like you do and it important so that you won't have to shoulder the load in the future. It will be my turn soon I hope lol.
Having said that, I only threw in $100 because it was already wrapped. I locked up my liquid HBD in savings because I didn't trust the sooniverse. So I'm stuck for 2.5 days.
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Ha HA HA
Agreed
lol spaminator stalking you in the comments too haha
One thing that you talked about in many of your other posts about PolyCub is the lack of value that comes from kingdoms.
Kingdoms allow us to LP other assets. It also allows people to farm POLYCUB without adding much value to the platform.
With xPOLYCUB governance about to be released and pHBD Farm in place, I expect may xPOLY holders to choose to move yield more and more into pHBD-USDC and away from things like the Kingdoms. We’ll see how this plays out.
One thing I will admit is your take on Kingdoms being highly accurate. I do think they provide more of a parking spot. The idea is to drive in TVL and eyeballs on xPOLYCUB. I think if governance was in place at launch it could’ve had a more beneficial impact.
pHBD-USDC is super exciting to me. It’s providing massive value to the PolyCub Protocol already through wrapping revenue and arb revenue.
If we get $1M in HBD volume (wrapping volume / trading volume) per month, we could see tens of thousands of dollars enter PolyCub’s PoL through wrapping fees + internal arbitrage.
I’m really excited. It’s also pushing us to consider the pHIVE release as it would simply add yet another massive revenue stream for the treasury through wrapping and arb.
For now, we focus on getting Hivers to understand how vital it is for them to provide pHBD liquidity. We need to build this thing to $5m for the benefit of PolyCub and the entire Hive ecosystem. I’ve got a bunch of whales ready to buy HBD when there is entrance and exit liquidity
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pHIVE would be next level. Wen? lol
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It’s a matter of flipping a switch. We really need to get pHBD critical mass liquidity first though
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I agree. Once there at least $1m in the hbd pool, I think it'd be safe to launch a pHIVE-USDC pool. A pHIVE-pHBD pool would slap hard though. Just saying.
Are we still going to see the tax if people don't have any xPolyCUB staked? I believe that was being floated around to add more value to the platform.
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Variable Earn Rate is a mechanism we’ll introduce soon ™️ which will basically do that
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I need to read up more on that..
The details on it aren't out yet but it would be a system where having X amount of PolyCUB puts you into tiers. These tiers decide how much percent of the total harvest you get from PolyCUB. The more you stake, the more you earn.
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Good question.
well also if you do pHive you can pair it to polycub directly instead of USDC and create a moonbag LP. Could get pretty crazy. I would personally put a ton of liquidity into a pool like that
I would love to hear the broader support behind that. xPOLYCUB governance is almost ready so we will likely put up a decentralized vote to decide what to pair pHIVE against. If xPOLYCUB holders vote to pair it to POLYCUB then to the moon we go.
The fun thing about voting is that I want to see a lot of community-based discussions on leofinance.io surrounding the votes and opinions on them. It would be cool to have dozens of qualified thinkers like you put posts up supporting one side or the other. Then xPOLYCUB voting takes place with the community informed on multiple sides
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Well, I think it's still the game of whale where xPCUB whale will drive the decision to get most profit.
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@khaleelkazi
I agree other lp like PolyCUb-HBD would be great, it keeps it all in the family so to speak...
And Hive-HBD would be very interesting also.
pHive would be a really good thing to add and hope to see it "soon"
Great to have your views on this. Every opinion is highly appreciated. I have put in another $30 as I have lots of confidence in the Leofinance team, and your posts are excellent too !
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Agreed, POV from all is valuable.
Yeah I don't think a guarantee of 30% should be said to be honest. That to me just screams scam when I hear that kind of stuff. Perhaps a bad choice of words. The 20% APR could change at any point maybe it sinks to 0% one day how the heck are you going to pull off 30% from that...
Just my two cents on that part of it my other two cents are
I firmly believe in the project and I feel it's going to do amazing things.
It actually is possible to guarantee it. Yields will never be 0%.
Also keep in mind that the HBD oracle @p-hbd keeps a % of the HBD it holds staked and earning 20% APR on its own so that is deposited right into PoL which in turn supports long-term yield dynamics.
Combine this with management fees on kingdoms + bonding + wrapping fees on pHBD + pHBD internal arb revenue = massive PolyCUB PoL to support high long-term yields.
I just wish we had pHBD out sooner. I think the treasury growth we’ll see from it will moonshot POLYCUB… which of course, moons pHBD-USDC yield right along with it
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Hi @khaleelkazi
So multiple sources of income, which just keep getting bigger over time, based on a deflationary asset, which should just keep getting more valuable all the time?
Good question to ask, so we hear the reassurance why
Phenomenal opportunities are happening for us thank you very much for your awesome post and the valuable information you have included in this.
That's worth more than gold if you're paying attention
Yep, the future is so bright around here I am going to need sunglasses! 😎
That's actually on my list of items to get here in a minute and I'm definitely going to need some.
All of the minor issues that are playing out now are things that have to happen in order to make sure the next launch is better. Bonding and collateralized loans are gunna be interesting.
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Especially when we see this stuff role out on Cubfinance!
I m really looking forward to that!
I am also a little skeptical about how they will guarantee at least 30% when the emission rates drop. After all, it would mean that there is less PolyCUB going to the pool and I think it will highly affect the other pools. Of course, this is only assuming that the price of PolyCUB stays the same or drops. However, unless PolyCUB pretty much doubles in value each month, more of the PolyCUB pool would have to be put into the pHBD/USDC pool.
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Polycub’s price is likely to increase with halvenings as we see less hitting the market.
I think this combined with xPOLYCUB governance = people buying POLYCUB to vote more yield into pHBD-USDC
We’ll have to see how this plays out tho
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For now, I'm sticking with just the straight HBD savings account. Much as a love LeoFinance products, I'm a little skeptical of "guarantees" on very high yields. What happens if the witnesses change their mind and decide that 20% isn't such a great idea, after all, and we go back to 12%? Who going to foot the cost of that sudden change?
=^..^=
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HA HA HA
Shitpost away @edicted, even your shitposts contain funny gems and information, and your ability to poke fun at yourself is entertaining and endearing.
As for HBD-USDC soon was amazingly soon, so respect to Khal and gang for getting it out so soon nd bing able to ride some of the PR about 20% HBD!
The future is so bright here, I gotta wear shades!
Shitposts aren't shitposts if you link back to your old content to build authority in them.
Either way it's good to see the excitement for 20% interest on HBD continuing to ripple through the community.
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That you for this shit post but not at all as I found gold from it :) It would be nice to see HBD get more liquidity it needed and will be possible now that it is out there in the farms. The $5M target may take a while but who knows, it will surprise us in the sooniverse hehe
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As we have pHBD now and very likely pHIVE soon, the Hive community will be more concerned about the decentralization of the bridging - point of failure/exploit/hacks/inefficiency for many other projects out there. Maybe you could consider discussing this topic in your future posts? :)
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The first paragraph won my full vote ;P
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With pHBD,we believe we can trade HBD some where. That's alot of achievement by leo finance community.
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